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Author Topic: Will cryptocurrency soon be an alternate payment option?  (Read 4435 times)
growthincrypto
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June 28, 2019, 08:56:41 AM
 #1

Just a month ago, giants like Starbucks, Nordstrom, Whole Foods, and AT&T announced that they accept cryptocurrency as a payment option.
With the  popularity that cryptocurrency is growing there is no doubt that it will soon be among other payment methods. Especially for the international payments, with its ridiculously low fee and time taken for inter-border transfers it is surely the favorite among the traders.
Also, with giants accepting it as a payment option there is no other need to prove its authenticity.

Do you own any cryptocurrency yet?
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June 28, 2019, 09:11:42 AM
 #2

Yes cryptocurrency is already another option of payment and it's spreading like wide fire.
Alot where initially critical about cryptocurrency some labeling it all sort of names like a ponzi scheme, fraud etc but it has actual caught there interest

But want thing I can say is that we might see this giant companies like the OP has just mentioned that accepts cryptocurrency or some that has not yet started following the same way as facebook and creating there own coin.

Should there be a limitation to this yes cryptocurrency has created an avenue for a whole new way of trading and transaction should any company just develop there coin just because they had already gained fame and altcoins that has been in cryptocurrency for a while would die out this would cause competition and might build of to an avalanche of coins in the future.  
  bitcoin and some good number of altcoin are my point of fancy in the cryptocurrency community. am not interested in Libra coin(still sceptical about it)
If this faint want to venture into cryptocurrency there should make use of the existing coins and not corrupting the whole system
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June 28, 2019, 09:28:36 AM
 #3

With the  popularity that cryptocurrency is growing there is no doubt that it will soon be among other payment methods. Especially for the international payments, with its ridiculously low fee and time taken for inter-border transfers it is surely the favorite among the traders.

It already is. Sadly I still can't use crypto for one of my jobs. They still require my bank details and charge me around $4 for every transfer that I made (not to mention the services fees). If it's possible I'd rather accept payment in crypto and if it was needed I'll cash out immediately, rather than 'giving away' +$5 for fees.

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CryptoInsights
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June 28, 2019, 09:35:39 AM
 #4

Yes, there are so many of my contacts who have started accepting Payment in crypto. Even at the place I work few interns asked whether they can get stipend in Crypto. The upcoming generation is more interested and trusting in cryptos. It is great to see the adoption.  Cheesy
 
But, I think there was no need of authenticity of the technology(behind crypto) past then or in the future.

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June 28, 2019, 09:44:09 AM
 #5

Cryptocurrency with its blockchain technology has great potential to replace the current conventional payment method, but in some countries, there are still problems with existing government regulations. several other issues such as price volatility and hacker problems are also still things to consider if it will be used as a payment method to replace fiat money. For now, the cryptocurrency struggle to become an alternative payment can be fairly heavy, but it does not rule out the possibility that in the future it can happen.

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June 28, 2019, 09:49:22 AM
 #6


For BTC I guess more companies are going accept it but for most altcoins, it will take a lifetime before they will consider accepting.

Where did you hear about AT&T going to accept cryptocurency? There is DENT token which is busy making partners with mobile and telephone companies on every country. I followed them on twitter, they were announcing they are working with telecoms in each country. There isn't a way to confirm their claim but its been said and their followers are all praises to the team. I think I once read AT&T was working with the DENT team.
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June 28, 2019, 10:04:10 AM
 #7

With the  popularity that cryptocurrency is growing there is no doubt that it will soon be among other payment methods. Especially for the international payments, with its ridiculously low fee and time taken for inter-border transfers it is surely the favorite among the traders.

It already is. Sadly I still can't use crypto for one of my jobs. They still require my bank details and charge me around $4 for every transfer that I made (not to mention the services fees). If it's possible I'd rather accept payment in crypto and if it was needed I'll cash out immediately, rather than 'giving away' +$5 for fees.

It is currently accepted as a payment method in some small companies. But of course it will take a while for it to spread.

I don't think the credit card has become available worldwide in just a few years. It took time ... In my childhood a lot of local shops did not want to use credit cards. They was just pressuring people to shop for cash. In fact, there are still small shops of this type.

Moreover, the use of credit cards can be a bit problematic for foreign travels due to exchange rate differences. Bitcoin and other crypto coins have no problem with this type.

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June 28, 2019, 11:45:17 AM
 #8

Cryptocurrencies are currently accepted on big companies like you've mentioned, but yeah, perhaps we will still see these companies accept a compromise that will require a third-party service integration to ensure that bitcoin will be converted immediately to fiat once a sale is made. Some independent merchants could accept crypto as is depending on their business model, though I don't see big names in the industry would ever do it. They'd save even the last penny for profit, so bitcoin's volatility somehow defeats that, or scares them to lose every penny they make.

 
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June 28, 2019, 11:52:42 AM
 #9

I think cryptocurrency will be an alternate payment option but not very soon.
First it has to be regulated by government but im not sure if this will happen  Cry
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June 28, 2019, 02:44:12 PM
 #10

why do you keep repeating "cryptocurrency"? as far as i remember those companies announced the possibility of them to start accepting "bitcoin" as payment in the near future not "cryptocurrency".

in any case bitcoin has been an alternative payment option for many years now. i think from the days that it was used to pay for Pizza it started being one and stopped just being virtual money. ever since then it has only grown.

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June 28, 2019, 02:58:44 PM
 #11

I already own some crypto's and mostly I'm happy to have bitcoin because I've been holding it since the bear market.

I think cryptocurrency will be an alternate payment option but not very soon.
If you will analyze the happenings today, crypto's are already being used as a payment.

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June 28, 2019, 03:09:12 PM
 #12

I think cryptocurrency will be an alternate payment option but not very soon.
If you will analyze the happenings today, crypto's are already being used as a payment.

yes you are right, in some countries crypto can already be used for payment. however, the volume of use is still low, because many people prefer to use mainstream payments. for now it might not be big enough, but in a few years I'm sure this will be good.

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June 28, 2019, 03:31:05 PM
 #13

it is already an "alternate" but just that for now.and i dont think it will never be payment option for all humanity.visa do almost everything for now and im not complaining.crypto must be much more usefull so people choose it.

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June 28, 2019, 03:51:09 PM
 #14

It is not soon, I mean even if it is not yet universally and backed by government, cryptocurrency is already being used as alternative payment option. There are many online shops now that accepts cryptocurrency.


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June 28, 2019, 03:55:43 PM
 #15

Accepting crypto as payments is not really bad in business and in cryptocurrency. It has a mutual benefits among the crypto users and every establishments. It encourage others to join in cryptocurrency after finding out to.what good could.it be made after seeing other users using cryptocurrency for payment. It will be less hassle and it will be also easier to do transaction. But sometimes, the cryptocurrency would also be needing a platform that will help the ease in payments.

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June 28, 2019, 05:21:18 PM
 #16

As we are on modern age, we should take the advantages of cryptocurrency. Cryptocurrency as a payment method, it is really easy and fast. It will be much popular payment method. It will be easy to use for transaction.




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June 28, 2019, 05:39:53 PM
 #17

As a alternative payment options, I would say yes, but globally accepted? I think we need like 5-10 years before merchants will truly accept it in their stores whether online or off-line. LN might be a good solution, but then again, not all are still in the boat. A lot of them have qualms and doubts as whether they will accept Bitcoin or crypto in general.

But as crypto enthusiast, of course we dream that one day, it will generally be accepted, however, as I have said it might take years before it will be a reality.

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June 28, 2019, 06:15:13 PM
 #18

Yes, cryptocurrency has become an alternative payment option in some countries even though only a few stores can access alternative payments using cryptocurrency but that is one of the proofs of excellent development.
and lately there have been some news that I have heard that large or small traders have adopted bitcoin as an alternative payment option.

 
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June 28, 2019, 06:24:19 PM
 #19

For us, people who likes and earn money with technology, cryptos are being used already

I pay a lot os services with cryptos, like servers, digital good and some services, it's incredible and very useful, because I can pay some guy on Europe without any other service, directly to the person and I just have have to pay a small fee in some coins like XMR, LTC etc

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June 28, 2019, 06:34:32 PM
 #20

Bitcoin will get served as an alternate to the traditional fiat based payment. We've got more online stores providing gateway for payment with bitcoin and few other top altcoins. Based on the need the advancement is done by the giants, and Facebook entering the cryptocurrency network is an added support for the increasing use of cryptocurrency for all day to day needs. Stated in the Op, bitcoin transactions reduce the transaction fee and the transaction is done in a very short time period.
These days most of the firms that are accepting bitcoin for their services offline prefer to make the payment through an intermediary who serve to convert the bitcoin paid into fiat and give to the service render on small commissioning. This needs to change and direct dealings on bitcoin needs to increase.

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