How reliable is crypto payment?

[maxreish]

That's one of the real issue that Merchants are facing. The volatility of coins to be accepted that makes some of them be deficit when converting it into fiat. However, there are still good few coins that can be use for low fees with fast transactions. Or also accept some stable coins if the problem will be the unsteady market price.
 
 But it is hard, I have seen few  businesses here in our place and got a chance to speak and ask the workers about how are those crypto payments doing so far. And sadly, it wasn't yet well used and most of the customers preferred to pay in fiat rather than crypto coins.

[DPrillio]

That's one of the real issue that Merchants are facing. The volatility of coins to be accepted that makes some of them be deficit when converting it into fiat. However, there are still good few coins that can be use for low fees with fast transactions. Or also accept some stable coins if the problem will be the unsteady market price.
 
 But it is hard, I have seen few  businesses here in our place and got a chance to speak and ask the workers about how are those crypto payments doing so far. And sadly, it wasn't yet well used and most of the customers preferred to pay in fiat rather than crypto coins.

Agree, volatility of a coin is the bottle neck while paying crypto currency on a fixed price item when paying using crypto currency but its not a problem anymore for there are wallet like coins ph that we can convert first to fiat.

[jrrsparkles]

I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.

What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?

Price volatility is one of the big concern to common people who tend to accepts or use cryptos but lets see what we can get from using cryptos.

The value of cryptos are real unlike fiat which holds no value in real and the monetary value gets depreciating due to inflation.
We can make transactions easier.
Irreversible payment so reversing payment and scamming others is impossible.
No border to cryptos, we can send or receive money from any country with very less fee and in few minutes but wire transfer take huge fee and days of waiting for our money to be received.

[TanakabZX]

After all the volatility issue third party merchants are still using and accepting crypto as means of payment, they combined the most popular altcoins, Bitcoin and stablecoin in one, whichever one you have can be accepted, they charge based on present value, for example alchemy

[huu78]

Stablecoin might only win the stable aspect because they like fiat so it is indeed suitable for payment, but other digital currencies can dominate by using the auto-convert system at that time and indeed their project-based is good, it might happen to adopt them to the real world for payment.
but come back later whether it is more efficient or will be inferior to e-money because they use fiat and just click to purchase no need to bother. hopefully, in the future many cryptocurrency projects are competing to open new innovations for a better future.

[rz20]

I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.

What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?

IMO only a few whales control the entire crypto market which makes it highly volatile unless that volatility is somewhat stable merchants will always have to think twice before accepting it as payment. Until then stable coins are the only good bet.

[joshua123]

I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.

It is actually happening now. p2p have been launched by Binance and then followed by Kucoin, I think these two are using every market scalability to expand options to traders. Now even merchants are being pressure to put a label on it. I think crypto volatility will always affect the market so even with lots of merchants around, risk is always pose on the crypto space. But Im sure makign this happened will be a great improvement on adoption and innovation of blockchain and crypto space.

[ahmia39]

After all the volatility issue third party merchants are still using and accepting crypto as means of payment, they combined the most popular altcoins, Bitcoin and stablecoin in one, whichever one you have can be accepted, they charge based on present value, for example alchemy

People like this will be very extraordinary, because besides he can help crypto lovers who already have coins or tokens, he can also benefit through collecting coins and popular tokens that he received as a means of payment.

[istiak2277]

I think people do not want to take crypto as a payment system because of its volatile market. Otherwise crypto can be a good alternative to fiat payments system when nowadays peoples are more concerned about their privacy. We just need to find a system to implement law order to prevent and bad activities like scamming, hacking or fraud activity. I think P2P trade is a good option too.

[Novatech8]

I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.

What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?

Volatility is not the problem here I think lack of understanding is, every merchants you plan to accepts or use crypto must understand how it works and what it's all about, assuming a cup of coffee cost 1$ and 17,000 says is 1$ today it might worth 15000 sats or 20000 sats tomorrow, it's left for the merchants to make choices, either swap for stable coin instantly to avoid volatility or hold

[leea-1334]

But it is hard, I have seen few  businesses here in our place and got a chance to speak and ask the workers about how are those crypto payments doing so far. And sadly, it wasn't yet well used and most of the customers preferred to pay in fiat rather than crypto coins.

It is reliable in very stable internet, very normal times, and with no attacks on it (considering if it is not BTC or ETH). The problem with most coins other than Bitcoin and ETH is that they are actually very insecure and if any 51% attack were to happen those transactions would be reversed, making them unreliable in those cases.

[trauchot]

In the future, it will be possible to accept cryptocurrency everywhere, and most likely that of course stablecoins will have more chances to gain a foothold to pay for any product, but popular altcoins will also be in demand, it's just a matter of time.

[Hermingway]

I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.

What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?

This is where Decentralization and security comes in to play. Yes, Cryptocurrency Payments will be scalable for these merchants. For instance we have a few people who have adopted this trend. Now, you don't even need to worry as the likes of NOWPayments (https://nowPayments.io/) is a way of accepting cryptocurrency on your website. With an easy to integrate system, the NOWPayments API allows you to start accepting cryptocurrency as a form of payment on your website.

[thesmallgod]

Volatility is the limitation here because it makes merchants and local store considering the loss when the price of the coin goes down. However, with continuous adoption of block chain technology, there is a solid possibility that the crypto will be less volatile most especially the bitcoin so therefore I will encourage you to consider accepting crypto if you are a merchant. Crypto is the future of online payment.

[FanEagle]

I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.

What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?

To make use of cryptocurrencies for the purpose of just another payment processor, you never need to worry about its fluctuations; fluctuation should be the concern of long-term holders. Still, if you're going to make use of only highly reputed altcoins then you never need to worry about its price volatility because in long run all those highly reputed altcoins will get you higher value but random/new coins are a real danger for your profit level if you opt them for providing extra options for payments for your clients.

Stablecoins also will fluctuate according to price of bitcoin/USD hence it cannot be the right option for accepting payments. Moreover stablecoins are here for the purpose of eliminating the need of fiats and its known hassles while transacting through banks. If you hold, both altcoins and stablecoins will not get you big differences.

[X-ray]

That's one of the real issue that Merchants are facing. The volatility of coins to be accepted that makes some of them be deficit when converting it into fiat. However, there are still good few coins that can be use for low fees with fast transactions. Or also accept some stable coins if the problem will be the unsteady market price.
 
 But it is hard, I have seen few  businesses here in our place and got a chance to speak and ask the workers about how are those crypto payments doing so far. And sadly, it wasn't yet well used and most of the customers preferred to pay in fiat rather than crypto coins.

Agree, volatility of a coin is the bottle neck while paying crypto currency on a fixed price item when paying using crypto currency but its not a problem anymore for there are wallet like coins ph that we can convert first to fiat.

The main thing that will play as the main role in this case must be the scalability. even if you can convert it into fiat and how about when the users have made a transaction to the coins ph wallet. It needs the time to make it gets confirmed by the block too.

[riso2015]

Paying by cryptocurrency coins is quite convenient. However, the only problem with cryptocurrency payment is that it isn't recognized widely nowadays. Furthermore, it only accepts some of the coins such as BTC, ETH,.. not other coins. Personally, I think crypto payment will need a while to be widely popular!

Moreover, to be applied in our daily lives, every store can accept payments with Bitcoin or other coins, so it is very difficult for us to apply it. Now Cryptocurrency can only be used for online shops and only for certain countries, not all countries accept payments by Crypto.

[michellee]

The future of cryptocurrency payment is still a mystery because so far, many people still not using crypto as the payment system, even many of them don't know about cryptocurrency. The volatility of the cryptocurrency will be a matter to them. If they can use a stable coin which is not too big for the volatility with the fiat money, I think they will not have a problem to pay using cryptocurrency. But if the volatility is not too big or doesn't have many differences than the fiat money, I think that will be okay for people to use crypto as the payment system.

[Text]

We can't change the volatility of an unstable coin like Bitcoin and Ethereum. But it's also not bad because there are quite a few online merchants and services that accept crypto as payment. I hope to put a sign in our store to let others who use crypto like me accept crypto as payment. It is easier to use crypto in return for earning platforms and for receiving freelancers from their employers. Almost everyone now relies on work from home.

[cheezcarls]

I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.

What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?

It can be reliable if there is a “stable” version of BTC rather than relying on the market price. Like Coins.PH for example. They have two Bitcoin addresses per account, and one of them is the PHP version of BTC.

The PHP balance of Coins.PH is considered as a Bitcoin address because it uses the same blockchain explorer as the other ones. The difference is that this kind of Bitcoin address is the stable version, which doesn’t rely on the market condition.

If the Bitcoin wallet has a feature like that, there would be no problem for companies to massively adopt it as a mode of payment. Like Steam’s case where they do accept Bitcoin back then. However, they removed that option because of the volatility. They just forgot that there is a stable version of Bitcoin that they can integrate.