Will cryptocurrency soon be an alternate payment option?

[Ioann11]

Cryptocurrency is already so tightly entered into our lives that almost every Internet user knows what it is. The legal status of cryptocurrency and Bitcoin in particular is very different in different countries. It directly depends on whether you can pay with a crypt, for example, in a restaurant or in an online store.

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[princesspoppy]

Cryptocurrencies are already accepted as an alternative payment by some companies. Here in our country, we can use cryptocurrencies as a payment to load credits, for paying games and others, but only limited people and establishments knows cryptocurrencies and I think that is the reason why some do not see its potential as a payment option. Also some countries are against these cryptos, they want to put regulations to it. If only governments accepts and support bitcoin and other altcoins, more people will learn about these and more companies will use it as an alternative payment.

[Vaskiy]

Not as an alternate payment, but it has been getting added to more services as one of the payments gateway.

How much users make use of the payment gateway is very low, but the usage has begun long back itself.

These days most of the people doesn't have knowledge about the cryptocurrency and its market.

More corporate firms entering cryptocurrency market will let it get used more than an alternate soon.

Over the years the usage and acceptance level keeps on increasing.

[slaman29]

Cryptocurrency is already so tightly entered into our lives that almost every Internet user knows what it is. The legal status of cryptocurrency and Bitcoin in particular is very different in different countries. It directly depends on whether you can pay with a crypt, for example, in a restaurant or in an online store.

Really? They researched a few months ago university students in a state in USA. And guess what? Not many heard of Bitcoin. And those that do, almost nobody understood how Bitcoin worked.

And I bet you're one of those many who sort of know Bitcoin and talk a lot about paying with crypto but never have. When was the last time you actually used crypto? Besides for trading?

[veleten]

it won't be very soon , at least
cryptocurrencies have yet to achieve 1% of the transactions speed VISA and Mastercard offer
this is one of the main obstacles on the way to become a staple payment option
while bitcoin and its Lightning network is taking steps towards it , this is very far from being a valid replacement for fiat and cards
there is a very long way ahead , but with adoption and more businesses trading directly for bitcoin or crypto , this could happen
don't expect it in the next ten years or so , though - its a perspective

[BlackFor3st]

This will surely happen in the future but I wonder if bitcoin is a good option for it as it is not suitable for small amount of money transfer.

I will be hoping that there will be changes in transaction fees in bitcoin so it can continue to dominate all other currencies in the future especially in being an alternative payment option in different types of industries. This will surely happen faster once all the government leaders will consider crypto currencies as legal and they will start to adapt it freely.

[gabbie2010]

Surely other big corporations and organizations will see reasons why they would adopt cryptos as a better and alternative means of payment obviously the number of cryptos enthusiastic is growing at an alarming rate and the need to cater for those that falls into that category must be addressed I wont take much time before cryptos will surpassed other digital currencies as a better, secured and faster payment gateway however the only bottleneck as regards usage of cryptos is the cumbersome and some how complex means of its transaction mostly by non tech savvy individuals who are not even eager to learn it.

[adzino]

Yeah, it can be used. Why not? It is actually used as an alternate payment option is various online sites. Not sure of offline stores actually accept them as a payment option but I have heard many stories about cafes and stores accepting bitcoin as a form of payment. As people starts to adopt bitcoin and other crypto currencies, then we will eventually see business accepting crypto currency as an alternate payment option. But before that, we have a lot to develop and solve various issues we are facing  currently with crypto currencies.

[nydiacaskey01]

There's an exchange site that I use here in the Philippines and its Coins.ph and it allows me to pay my utilities like water bill, electricity bill, telephone bill, cable bills, loans and other stuffs. But, with Bitcoins volatility this past few days, I don't want to use Bitcoin to pay for my bill, I just hold them and let it grow for now.

[veleten]

crazy price swings do not add to the cryptocurrencie's popularity among the retailers
you would not want to accept 10 bitcoin sales worth , say , 110.000$ today only to realize it is 95.000$ tomorrow
this should change when you do not think about converting coins into cash , but able to go and buy whatever you need in your day to day lives
including food and groceries and even a pint at your local pub
until then cryptocurrencies will remain marginalized as a payment option and only a few businesses would try to introduce it as a payment option , sadly
but for everything there is a start and those who come to this market first could reap the profits and benefit greatly ( or flop dramatically )

[smartbitcoininvestor]

Most likely. In fact, Bitcoin (BTC) is the most fungible cryptocurrency out of them all and can be exchanged in dollars, cryptocurrency, gold, gift cards, and other commodities. You can do so at Paxful with over 300+ payment methods. Learn how here.

[Maxon111]

eBay, Amazon, FastTech accept cryptocurrency. Other products and services You can buy VPNs, Microsoft software products and applications in the AppStore for Bitcoin. With cpay.io, you can throw bitcoin on the phone. Strangely enough, cryptocurrency is very popular among individual entrepreneurs and private legal entities.

[bryant.coleman]

Most likely. In fact, Bitcoin (BTC) is the most fungible cryptocurrency out of them all and can be exchanged in dollars, cryptocurrency, gold, gift cards, and other commodities. You can do so at Paxful with over 300+ payment methods. Learn how here.

Here, Bitcoin is first being converted to fiat cash and then this fiat cash is used for purchasing of commodities, gold, gift cards.etc. Here the payment option is not cryptocurrency. The payments are being made in US Dollar or some other fiat currency. Even in shopping sites such as Bitify, the items are priced in USD or EUR, with the option to make the payment in BTC.

Direct payments using Bitcoin may become a reality only if the transaction fee is low enough, and there is no need for getting confirmations. Volatility in the exchange rate is another concern. And I don't think that it will become a reality unless there is enough push from the community to make direct payments feasible. 

[btc78]

                                            Do you own any cryptocurrency yet?

99% of people here in Bitcointalk.org has accumulated cryptocurrency specially Bitcoin sine this was the very first crypto that created and also alternative coins like ethereum,litecoin and many more

And most of us are holding atleast 3-10 currencies in our portfolio so that means we have already our cryptocurrency,what about you?do you have som?

[bryant.coleman]

                                            Do you own any cryptocurrency yet?

99% of people here in Bitcointalk.org has accumulated cryptocurrency specially Bitcoin sine this was the very first crypto that created and also alternative coins like ethereum,litecoin and many more

And most of us are holding atleast 3-10 currencies in our portfolio so that means we have already our cryptocurrency,what about you?do you have som?

Those who had registered a few years back may be holding some coins in their wallets, but I am not sure about the ones who joined after 2017. The rules have changed and now you need to accrue a certain amount of merit before you get a promotion as far as the forum rank is concerned. And unless you are a Hero or a Legendary member, the chances of getting a slot in any of the signature campaigns is very low. Bounty contests are there, but the problem is that more than 95% of them never pay. And even when they make the payments, most of the times the tokens are worth next to nothing.

This forum has a total of 2.6 million+ registered members, and I don't think that more than 10% of this number holds a minimum of BTC0.01 in their wallets. I was lucky to purchase some crypto in 2012, when the exchange rates were around $10 per coin.

[KenRodriquest]

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?

Actually adoption is becoming slow based on the news that I keep on seeing. Because of other people that only see crypto as a form of investment and for money only. Buti the truth is this is not how it works.. It's kinda disappointing that many people see this to crypto and the true concept is disappearing and I hope that many people will see people not just as a form of investment but also to help us make more conveniency in life and to make living easier.

[JNvak]

I've just read that Norwegian Air will accept BTC payments. Also, PUBG (video game) announced that it will allow its users to pay with cryptocurrencies. So, yes, it will be.

[kobita333]

Yes, in future that will happen. It will take more time as all country do not accept cryptocurrency for their regulation. People of few contries do not know about cryptocurrency .
Even now-a-days Some shops do not take credit card as they want cash money. So the far of the future  that will happen.

[imking]

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.

Yes, many companies will accept bitcoin as payment methods because this giant or well- known company accept it so it means that the small company will follow their footsteps. There are some many opportunities that bitcoin can make and these payment methods are one of the best of bitcoin's capability.

[Successmaniac4]

We all hope that Bitcoin is generally accepted worldwide so we can be able to smile. All Bitcoin holders are expecting the coin to gain full acceptance in countries so as to increase its community.