Too much crypto payment projects but little people accepting crypto payments

[adekogbe]

More payment gateways accepting cryptocurrency form of payment from crypto cards or other payment forms like barcode scanning can go a long way in the real use of cryptocurrencies for daily shopping activities like buying food from a local store or paying for coffee or transportation and other things like that.
Without this payment solutions for vendors, owners of crypto cards will still be limited in the ways they can spend their cash

[Erickan]

It is possible that many crypto payment projects have been developed because they see the long-term prospects of crypto, the possibility of crypto being accepted as a daily payment method is entirely possible. But at the moment, crypto is something that is still too young, it is still not popular with many people. The lack of clear regulations from governments, huge fluctuations in crypto prices are barriers that really make it difficult to be accepted at this time.

[alexsandria]

Indeed maybe there is too much projects and people don't know what to choose, but PayPal is against of buying crypto with, and if PayPal will somehow fix the refunds problem and will let people buy crypto with then more people will buy crypto.

I think it is not just paypal that will going to open the opportunity for cryptos, we can even buy on bitcoin atm's that can be located somewhere on our place. Also to contact our friends abroad or near if they have available crypto that can be sold to us. But maybe, if paypal will going to let these things happen, more positivity will going to be with crypto.

[TheHas]

There are a few projects focusing on creating an ecosystem for accepting and providing crypto payment options with fiat on and off ramps.

Check out cryptocom's relatively new project (ticker CRO) that has nodes and methods for accepting payments for various crypto (ie. a merchant doesn't need to decide what crypto to accept or reject).

Essentially they are trying to make a replacement or new VISA type system with lower fees for merchants, which will encourage their uptake.

[fuer44]

because people who know this method are people who are still in the crypto scope, and even then not everyone can accept, maybe only a few. and for the community at large, still do not know the project, even to just know what crypto is.

[khiholangkang]

It is possible that many crypto payment projects have been developed because they see the long-term prospects of crypto, the possibility of crypto being accepted as a daily payment method is entirely possible. But at the moment, crypto is something that is still too young, it is still not popular with many people. The lack of clear regulations from governments, huge fluctuations in crypto prices are barriers that really make it difficult to be accepted at this time.

I agree with you, crypto is still very young and the current regulatory problems slightly hamper crypto development
but I am sure that in the future there will be many merchants that accept crypto payments

[hellyah070]

I believe one of the major setbacks of the present crypto space is a lot of new projects are focused on providing the fastest easiest crypto coin to be used for payment purposes and transactions

actually the biggest problem is that nobody is focusing on this!

you see most of the project nowadays are focusing on the best way to get the most hype so that they can get pumped biggest and make the most amount of money. the result is obviously disastrous as all the altcoins have turned into shitcoins instead.

Basically, most of the projects you are talking about is focusing on the investment capability side of the coins, they are pertaining how to increase the market value not knowing the potential market factors that can directly make it happen. Bitcoin has lightning network, ethereum has the best transaction speed. That should be an inspiration to others.

[Cat Coin]

The question is not only in the reluctance of sellers to use Cryptocurrency. There is no reliable way to transfer to ordinary money, if you mean ordinary firms. How to fix them. A small number of people willing to use these payment methods. We need machines to transfer cryptocurrencies.

[NightMar_1St]

I think electronic money is growing. It has time for people to receive it. Electronic money is good but the important factor for people to accept it is the need for a strict legal framework for electronic money. I know many European cafes have used electronic money to pay

[Simple_Plan]

The initial and most noticeable of crypto is payment. Launching a project based on payment usage of crypto is also the easiest. However, like the OP stated, very few payment project turned to reality. A majority of those projects were created to scam people or so. Very very few projects were and are being seriously developed.

The same problem goes with platform projects. Many coins were created to be platforms for other coins. But along with the fall of ICO trend, many platform coins were put into trash bin. Projects with running product is as rare as gold in the sand now.

[creeps]

There are a few projects focusing on creating an ecosystem for accepting and providing crypto payment options with fiat on and off ramps.

Check out cryptocom's relatively new project (ticker CRO) that has nodes and methods for accepting payments for various crypto (ie. a merchant doesn't need to decide what crypto to accept or reject).

Essentially they are trying to make a replacement or new VISA type system with lower fees for merchants, which will encourage their uptake.

Many projects is just a copycat of the other project, and they can't even provide a real good payment option. There might be too many option right now but in the future when the demand increases this cryptopayment system will have their hard time to accommodate everyone. Making a new way to beat VISA and MASTERCARD is possible in the right time, also there are coins who can now compete with paypal if there's enough opportunity for them in the market.

[EastSound]

The question is not only in the reluctance of sellers to use Cryptocurrency. There is no reliable way to transfer to ordinary money, if you mean ordinary firms. How to fix them. A small number of people willing to use these payment methods. We need machines to transfer cryptocurrencies.

I agree, money laundering is still a big issue for cryptocurrencies, these merchants/companies only have a little way of verifying their customers sources of funds. They dont want to risk being legally persecuted if they have been accepting dirty money.

KYC doesnt even help since it somewhat dismays legit customers from using their services

[2Kool4Skewl]

Cryptocurrency is a very young technology and it’s understandable that there is little where it can be used now.  But over time, I will give it all a fix.

[ridha inoue]

very interesting topic and we already know strange things but no one has questioned it yet.
if we look back, almost all over the world have been able to receive BTC, ETH, LTC, DOGE and other major coin currencies.
but not many altcoins and usually only for their own project platforms.
I just hope that next time cryptocurrency will have more place in the world.

[clonely]

I believe one of the major setbacks of the present crypto space is a lot of new projects are focused on providing the fastest easiest crypto coin to be used for payment purposes and transactions however considerably lower effort is placed on the vendors who are actually going to be accepting payment in form of cryptocurrencies because what is the use of having a crypto payment card full of money that you cannot spend.

Whitmore payment gateways a inform of PayPal and the likes accepting crypto payments from multiple coins without necessarily issuing their own coin then there will be better adoption of cryptocurrencies by both business owners and customers.

Because it need legal arrangements. Every country has their own financial rules. For example in my country all finance records keep must in national currency. So if we will trade with USD, we can calculate its ratio with our currency and keep records in.

So trading with BTC or any cryptocurrency needs a regulation. And it will some times more, I guess.

[veraro]

I think the big nomber of projects are focused on providing the fastest easiest crypto coin to be used for payment purposes and transactions is not a setbacks, it is more a competition, a selection. In the end there are only few the best will survival, some which people want to use.

[baigreen]

I believe one of the major setbacks of the present crypto space is a lot of new projects are focused on providing the fastest easiest crypto coin to be used for payment purposes and transactions however considerably lower effort is placed on the vendors who are actually going to be accepting payment in form of cryptocurrencies because what is the use of having a crypto payment card full of money that you cannot spend.

Whitmore payment gateways a inform of PayPal and the likes accepting crypto payments from multiple coins without necessarily issuing their own coin then there will be better adoption of cryptocurrencies by both business owners and customers.

The problem is that in the bottom line cryptocurrency in the ready business is much more difficult. Any online store that sells digital products may already cryptocurrency as a means to pay. But. I do not think that our great tax authorities will approve such a system today. The problem is that the anonymous cryptocurrency continues to evolve, and users of the world of cryptocurrency in all possible ways to avoid publicizing the individual. What makes it impossible at this stage to use a cryptocurrency as a means of payment.

[Callanta787]

There will come a time in the future that only few coins will have real life usability and the rest will just die off, too many coins and tokens are just popping up every day, it's way too much only fee are useful

[r_delossa]

I do not think that the major projects that aimed to release their credit/debit cards based on crypto are so far in their development. I know 5 projects, but none of them have released this idea till now, patiently waiting to see this happen.

[kaya11]

Indeed maybe there is too much projects and people don't know what to choose, but PayPal is against of buying crypto with, and if PayPal will somehow fix the refunds problem and will let people buy crypto with then more people will buy crypto.

Instead of using it in payments, after they have got to learn basics knowledge about the crypto space, they trade and make small profits. Leading the destruction of the coins goal, and therefore failure of the project itself. Why not just consider using one digital currency rather making something new. New coins are just one way to steal money out from the pocket of new investors, and gives a negative image dragging some good projects out there.