Why aren't people utilising cryptocurrency payment methods?

[Russlenat]

Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.

The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.

Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?

So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?

We will get there soon, just waiting for everyone to finally get interest in bitcoin and other cryptos and start to own them. For the meantime, while bitcoin is still giving us good opportunities to earn and gain, then what’s the use of spending them. If we are looking forward to make profits, spending it and using it to pay for our needs is not necessary when we can use fiat as payment and save bitcoin for future gains.

[Fatunad]

Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.

The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.

Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?

So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?

We will get there soon, just waiting for everyone to finally get interest in bitcoin and other cryptos and start to own them. For the meantime, while bitcoin is still giving us good opportunities to earn and gain, then what’s the use of spending them. If we are looking forward to make profits, spending it and using it to pay for our needs is not necessary when we can use fiat as payment and save bitcoin for future gains.

1. Regulation
2. Volatility
3. Lack of awareness
4. Still observing

These are the things on why we arent seeing about full integration of crypto payments into most businesses which is indeed a fact.
We do see the advantages but we arent that blind on not to notice about the con's and this is where most business owners do really mind off
or really been concern of.

[AmoreJaz]

1. Regulation
2. Volatility
3. Lack of awareness
4. Still observing

These are the things on why we arent seeing about full integration of crypto payments into most businesses which is indeed a fact.
We do see the advantages but we arent that blind on not to notice about the con's and this is where most business owners do really mind off
or really been concern of.

let us not forget that most crypto holders are holding for the mere thought of possible high gains in the future. this is why some holders are not keen on spending it with their everyday expenses. as much as possible, they are holding it as investments and not for payment purposes. also, the availability of merchants accepting crypto is still a common bottleneck for some crypto users who are ready to spend some of their satoshis.

[dark1234]

1. Regulation

What makes bitcoin and others unable to be used as a transaction tool at this time is government regulations that do not give permission to be used as a transaction tool for goods and services, so there is no legal umbrella for people to use them instead they will be subject to fines or violations of the law if use it

[_BlackStar]

Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.

If we narrow the scope to just the community ^{[not about the wider community],} then I don't think people will think crypto payments are a scam. There are regulations out there that prohibit people from using bitcoin or cryptocurrencies as legal tender, and you are expected not to violate them. You must submit to the jurisdiction of any country you visit which means bitcoin is still limited in adoption as legal tender in certain countries.

Global adoption is something you can't expect to happen easily, it's not as easy as turning the palm of the hand because the government is eager to maintain its centralized financial system. Bitcoin would only be good as an alternative option, so you can't expect it to be adopted in all countries. As for the second reason is because some people just want to use it to make a profit from trading or investing regardless of adoption.

[KingsDen]

1. Regulation

What makes bitcoin and others unable to be used as a transaction tool at this time is government regulations that do not give permission to be used as a transaction tool for goods and services, so there is no legal umbrella for people to use them instead they will be subject to fines or violations of the law if use it

This you said is true for some people in different countries and not so for other people. Apart from the regulation drama of  a thing, even if bitcoin is to be adopted nation wide, many people will also not use bitcoin. They prefer it as an investment asset instead of currency. That is the reason they keep hodling. It is clear that Satoshi initial idea or plans of bitcoin has been changed and it is expected that it could happen so since it is technology, it's ever changing.

In the community here, people receive praises for hodling bitcoin and also people receive praises for using bitcoin for purchases or payment for services. We don't actually know what we want I can say. So, however you want, do you bitcoin. The most important is that you know bitcoin and you are using it

[Darker45]

Aside from the fact that Bitcoin isn't really widely accepted as a form of payment, it could be that Bitcoin is worth saving than fiat, yes? Or that fiat is worth spending than Bitcoin. With inflation wreaking havoc on people's savings, it isn't surprising if people would find it much wiser to spend fiat than Bitcoin. And with fast devaluation of fiat, it isn't also surprising if people would look for a much better alternative in keeping their wealth. And Bitcoin seems to be a sound choice.

[Anonylz]

Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.

The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.

Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?

So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?

It is not just about people not using crypto payment but about the availability in your local community, crypto payment and acceptance is still very limited in most part of the world.
The options to pay with cryptocurrency is hardly there in 99% of local stores. In situations like this, your hands are tied coz there is hardly anything to do.

[Leviathan.007]

Mostly that's because of the lack of knowledge people will not use and trust anything they don't know especially if it's related to money however time after time people are getting more knowledge so they will use these methods instead of the fiat, and this will take some time and it's the same whenever a new payment method and technology comes up I expect to see more people are using these systems in a few years later very soon, also the cryptocurrencies should adopt and give more reliability to people for using them as a payment method.

[Don Pedro Dinero]

It is as simple as I expect that at some point in the future my bitcoin will be worth 10 times more. If I have to pay I prefer to pay with what I know will be worth less in the future. To do otherwise would not be very smart. There are people who, with the altcoin that has become fashionable, expect it to be worth 100 or 1,000 times more, so don't expect them to pay with it.

[el kaka22]

Main reason is people not wanting to make money that way, they want to make sure that they make money from just a simple investment and that's good enough for them. Look at Tesla, they bought 1.5 billion dollars worth of bitcoin for a while and sold it for a bit of a loss. Instead, they could have built the greatest payment system ever, hell Elon was part of paypal mafia, so it would have worked out well for him since he knows what he is doing.

This way we would have an idea on how to make a profit with payment companies as well, but they just prefer that they end up with some sort of situation where it would work well for them in the long run instead, and not take any risks.

[Zilon]

It is obviously that Crypto enthusiasts now see it as an asset and not the currency it was originally created to be. Volatility has made hodlers stick to their portion with high hopes of good ROI in the future. This has limited the adoption of Bitcoin and has also stirred this believe of Bitcoin been a scam by novices because most time the throw questions like how does an asset without government backing have value and keeps appreciating overtime. I think if it maintains its original status quo of been a currency as the created made it to be it will gain more adoption within shorter time

[2stout]

A few things in no particular order:  1) Perhaps fear of government surveillance and retribution; 2)  The principal of HODL and not wanting to lose during the next bull run season; 3)  adoption is still picking up and we're not quite at the point of "mass" adoption just yet.

[Vvang]

We still have so many crypto unbelievers, 90% of humans out there are still waiting for regulations, people failed to understand that once the government have power over something it will block powerless people to achieve greatness, the insanely high volatility of crypto is why ROI can go as high at 1000%.

[Smack That Ace]

Honestly, it's the community's fault. With the constant prospect of getting rich on the back of crypto, laser-eyed goblins talking about 100k or lows and highs, people still, for the most part, view crypto as a long-term investment than a payment method. It's always in the back of our heads, the notion that if you buy something for 100$ worth of BTC, in a year that could have been 500$ and then you basically fucked yourself over 400$. Not saying it's right, it's just how it is.

What you said is absolutely true, it's all because the community has made bitcoin an investment and not a currency or payment method as it was originally intended. But I don't want to deny that, thanks to the hype and volatility that people have turned it into an investment, bitcoin is getting more and more attention.

Today, very few people consider bitcoin as a currency they consider bitcoin to be a good profitable investment and this change has formed unbreakable.

[kryptqnick]

Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.

The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.

Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?

So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?

The majority of humanity don't use cryptos at all. Among a small minority of those who use cryptos, I'd say the majority are doing it for profit (either by trading or by hodling). Then there are a small bunch of people who actually try to pay with Bitcoin or accept Bitcoin as payment for their services/goods/businesses. Some of these would convert to fiat to not risk high volatility, some would use Bitcoin only (on-chain transactions, payments directly to a BTC address or a non-custodial wallet), some would try to make use of custodial wallets or off-chain solutions. That means that there are different people, and not many of those who would agree on how to use Bitcoin as a payment, even among those who believe in Bitcoin as a payment method.

[virasisog]

Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.

The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.

Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realize that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?

So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?

There are still people who are not aware and k knowledgeable on how to use Bitcoin in transacting so we can't question them for choosing fiat over BTC. I think one solution that we can do regarding this matter is to spread awareness about the importance of Bitcoin in our society not just as a profitable investment but also as a digital currency. If people will only see the convenience that Bitcoin has to offer, I'm sure that they will switch to using it. There are still lots of misconceptions about Bitcoin and I guess more people need enlightenment about its real purpose.

[Z-tight]

For some people it is hard to spend bitcoin in their country, next to no merchant or business accept it (not even with a payment processor), that alone has reduced the number of people that would have spent bitcoins on goods; some people don't spend it simply because they do not use it, nor trust it, these group are non-bitcoiners anyway; then some people don't want to spend it, but instead speculate with what the price can be later on in future, and there could be many other types of bitcoin users. The good part of all these is that nothing goes amiss, bitcoin still works fine as people choose for themselves how they want to use it.

[Rikafip]

Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?

Because even if you want, you can't really buy many things using bitcoin, as simple as that. And one doesn't exclude the other as I am paying with bitcoin whenever I can, but for everything else I am using crypto debit card as currently there is no cheaper and easier way to spend your crypto.

Mainstream adoption is a slow and tedious process that won't happen anytime soon, and until then I see crypto debit cards and payment processors as just another step towards that goal.

[Fortify]

Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.

The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.

Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?

So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?

This seems like a chicken and egg scenario. People want convenience at the end of the day and existing payment networks are pretty damn convenient, regardless of what people here might think. Crypto currency is directly competing with the likes of Paypal and Visa, who have been around for decades longer. They've worked out sophisticated contracts with different companies and they offered comparatively low fees, plus and here's a big one - payments are instant. Consumers don't want to wait around for 2-3 confirmations to go through the blockchain network before they get to use their product or service, paying extra for quicker confirmation also defeats the benefit of low fees.