Can you use Bitcoin to pay everything online?

[Plaguedeath]

As long as the store or merchant accept Bitcoin, then you can pay everything in there using Bitcoin. The fee you need to pay and need a time to wait for confirmation is depend on you, whether you comfortable or not. I think it's better if you use fiat or debit/credit card when you're want to pay in physical store and use Bitcoin in online marketplace because it should be cheaper than use mobile banking or digital fiat.

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[Flexystar]

You can use third party solutions to get rid of any restrictions that might be coming your way while using the Bitcoin. While most of the people are trying to hold the bitcoin to profit from it there are still many who wants to do real transactions on daily basis in the form of Bitcoin. We have seen merchants growing these days with Bitcoin Payment Accepted here tags in their stores. Most of the developed countries are hosting BTM everywhere thus fulfilling the needs of user like you and me.

Apart from this you can always option out for services where you can trade your Bitcoin for the gift cards. These could be for your best vendors out there like shopping sites, restaurants or may be wallets. You can safely buy such cards on paxful, bitrefill and coincola. Make sure to use the trusted ones.

[Luzin]

As long as the store or merchant accept Bitcoin, then you can pay everything in there using Bitcoin. The fee you need to pay and need a time to wait for confirmation is depend on you, whether you comfortable or not. I think it's better if you use fiat or debit/credit card when you're want to pay in physical store and use Bitcoin in online marketplace because it should be cheaper than use mobile banking or digital fiat.

There's not much to do with crypto in my country. Just being a commodity makes me happy. Right now this rule issue may be what restricts the movement of crypto. It seems that outside my country there are indeed many who open payments with crypto. Even my friend has bought a hard wallet with crypto. Nowadays it is easier for me to use conventional money for transactions. The problem is also the same, because transaction fees are uncertain and tend to be expensive.

[moneystery]

actually you can pay for various products or services online using bitcoin, now there are enough merchants that support payments using bitcoin. however, due to the adoption of bitcoin which is restricted by the government and sometimes the gas fee from bitcoin transactions can increase sharply and also the low education of merchants about bitcoin, this has made bitcoin not be adopted by many merchants globally.

If only merchants/individuals had good education about bitcoins and the government didn't restrict them from accepting bitcoins, maybe now people could pay for various products and services online using their bitcoins. But unfortunately this is not possible for now, because the number of merchants/individuals who accept bitcoins for their products or services is limited. Maybe in the future you can pay for everything with bitcoin, if there are many adopters of bitcoin globally.

[rachael9385]

Yes we can't use Bitcoin in all businesses, but we might use it some day, op haven't you heard about the lighting network? You can also do more reading on this thread to understand some part of the lighting network and how it been used.

The lighting network is as fast as fiat network, there was a time when transactions were been delayed because of network issues people was using it to do transactions, talking about the banana seller a banana seller in that aspect that's not possible because the seller might have not heard about Bitcoin before not to talk about using it for her business, not only banana sellers do go through this but other road side business business owners have same issues of not knowing how to use Bitcoin or knows about it. using Bitcoin for transactions in road side businesses can not be possible for now but it can be possible with time

[Lorence.xD]

It's possible since Bitcoin is a digital currency where it do a lot of transactions online. But only if it's already adopted by most of the people, in the situation right now there's still a lot of people doesn't trust Bitcoin and consider it as a scam so they don't acknowledged it to use for everyday life. Still there's a lot of businesses that are open to Bitcoin as they accept payments with the use of crypto. For sure the seller or the owner have ideas and background about crypto industry or blockchain technology to accept bitcoin as payment. So far all I know if people would use it as payment they would still need to convert it to known digital transactions such as Paypal and in my country which is called Gcash so people can use it cause as I said some are not yet aware of Bitcoin existence.

[RiverBoy]

The world is moving towards digital and is a gradually process, which Bitcoin is the father of all alt-coins in the cryptocurrency industries, for the reason of the delay in transaction and fee's change is normal in Bitcoin, which alt-coins like TRX, Matic, LTC, BNB Coin and other alt-coins has make it easy for us, from high gas fee and delay in transaction, which is a matter of time country we accept Bitcoin as a means of payment and the few coin's can easily solve the problem.

[Blitzboy]

Using Bitcoin for every transaction isnt the answer, especially for little, fast purchases like buying bananas from a hawker. Instead, consider Bitcoin a multipurpose instrument for managing your finances.

Its fine if Bitcoin doesnt immediately replace fiat currency or plastic credit cards for making small purchases. Where it really excels is in situations where typical banking fees would be prohibitive, such as when making large transactions.

Cryptocurrencies like Bitcoin are gaining popularity, and developments in technology like second-layer solutions may eventually make cheap, quick transactions the norm. In the meantime, enjoy Bitcoin for its one-of-a-kind benefits.

[serjent05]

Using Bitcoin for every transaction isnt the answer, especially for little, fast purchases like buying bananas from a hawker. Instead, consider Bitcoin a multipurpose instrument for managing your finances.

I agree, it s absurd to send a payment where the transaction fee is higher in multitude than the price of BTC.  Like in our country, 1 Banana is equivalent to $0.1, it would be a waste of money if we pay in BTC and pay for tx fee of $0.7 to $1+.

Cryptocurrencies like Bitcoin are gaining popularity, and developments in technology like second-layer solutions may eventually make cheap, quick transactions the norm. In the meantime, enjoy Bitcoin for its one-of-a-kind benefits.

Others, like micropayment applications even cost nothing when an internal transfer is done.  So I also agree that it is not practical to pay and make a direct Bitcoin transaction on every purchase we made especially when the purchase is minuscule.

[_BlackStar]

Re: Can you use Bitcoin to pay everything online?

Yes - I can, but only limited with who is doing the transaction. If I trade with those who are willing to accept bitcoin as a means of payment - then of course the transaction will involve bitcoin. But if not - fiat might be the main option.

I don't have bitcoin yet but planning to acquire it. I have been in the forum for sometimes now though I am not regular, but studying whenever I visit the forum. And noticed one thing about bitcoin. Bitcoin is a digital money for trading, payment of goods and others. But what I noticed is that, bitcoin cannot be used to buy and pay some instant services and goods. Examples, you want to buy banana on the way while driving from a hawker, will you use bitcoin to pay the bananas? Because the way I am looking at it, it is possible but the delay in transfer is the concern here. Bitcoin transfer is not like the bank transfer in which we received instant allert within 2-3 minutes time. I know some people will say set the transaction fee high then you can pay whatever you are buying with instant alert. I don't think someone will pay something with BTC and the transaction fee is very high and double the amount you want to pay for the goods.

So I want to know in such situation, what will you do? I am asking this question because bitcoin is a digital currency for exchange of goods and services. I know that there are some services you pay ahead but what of the ones you are buying instant? You just came to the place and you want to buy from the hawker and zoom off, and you are to pay with bitcoin because there is no physical cash in your wallet/pocket/hands. And because of the delay in payment I was thinking that not everything we see can be purchased with bitcoin, is it true?

Bitcoin should still be an alternative option for most people especially in everyday transactions - but you can adopt it as a means of payment in certain places and with certain users. I don't see anything strange about the time it takes to process transactions - it really depends on the fees you use to broadcast them.

If you are an experienced user - then it may be possible for you to pay with LN or something else like the features that centralized exchanges offer. But bottom line bitcoin is still a good alternative to paying for some cheap stuff like a bunch of bananas.

[Casdinyard]

It's possible but it would be up to merchants and developers to do so. Right now capabilities are set in place and are ready for the taking should a merchant like let's say, McDonald's promote the use of bitcoin in its stores. Back then it was exceptionally slow and expensive, but thanks to layer-2 solutions like the Lightning Network things are streamlined by a long shot. The other would be the fact that it takes effort into implementing bitcoin payment systems in larger infrastructures, which means more money to spend on just implementing these features just so they can accommodate a small percentage of users, which in business-terms means "hey why don't we just shoot ourselves in the foot with this one". So while it's possible, there's no need for it as of the moment and to implement it will be a massive waste for the company.

[dezoel]

Let's just be honest and real with each other, the example that you used in your post about bananas, Bitcoin is basically not for that, because the transaction value isn't high enough for the buyer to pay any fees for it, even if the fee isn't so high, it will still be costly if the value of the item being bought isn't high either. So, when you are buying stuff that costs maybe less than $20 or something, you shouldn't use Bitcoin for that even if the transaction is quick.

We might be able to do that in the future which I doubt because you can't pay $0.2 for an item worth $0.5, that's absurd, you better pay with cash or use something that costs you nothing for that transaction, and we know that almost every cryptocurrency has a transaction fee associated with it.

[Afnan_faizah]

in my country we only can use rupiah for transaction, it was a rule in my country. but I can use bitcoin and any cryptocurrency for many website for example is to buy game item. it seems that if the company is inside my country then it must use rupiah but if the company is outside my country then it is okay to use other payment method including cryptocurrency. I usually use cryptocurrency to buy game item and I am okay with that although I know that it can considered as profitable asset because I already decide how many portion is for cryptocurrency investment.

[Abu-Naim]

So I want to know in such situation, what will you do? I am asking this question because bitcoin is a digital currency for exchange of goods and services. I know that there are some services you pay ahead but what of the ones you are buying instant? You just came to the place and you want to buy from the hawker and zoom off, and you are to pay with bitcoin because there is no physical cash in your wallet/pocket/hands. And because of the delay in payment I was thinking that not everything we see can be purchased with bitcoin, is it true?

It is not suggested to use Bitcoin if you need to make a very tiny quick payment since you risk incurring fees that are greater than the cost of the item you are purchasing.

[OcTradism]

As long as the store or merchant accept Bitcoin, then you can pay everything in there using Bitcoin. The fee you need to pay and need a time to wait for confirmation is depend on you, whether you comfortable or not. I think it's better if you use fiat or debit/credit card when you're want to pay in physical store and use Bitcoin in online marketplace because it should be cheaper than use mobile banking or digital fiat.

With Bitcoin on-chain transactions, you will need to have confirmations from miners to make your payment valid. Usually merchants will ask your payment (your on chain transactions) to have from one to three confirmations.

Considering the average block time of Bitcoin is 10 minutes. 1 to 3 confirmations will be about 10 minutes to a half of hour or even longer if you make that transaction with very low fee rate. It is more usable if you buy something online and use Bitcoin for payment but it is impractical if you want to do it offline, directly at stores. You will have to wait a little time for confirmations to complete your buying and it is inconvenience.

It is not suggested to use Bitcoin if you need to make a very tiny quick payment since you risk incurring fees that are greater than the cost of the item you are purchasing.

For tiny valued transactions, you will have alternative for Bitcoin on-chain transactions, off-chain transactions with Bitcoin Lightning Network but you will have less choices, less adoption for Lightning Network.

[Silberman]

Let's just be honest and real with each other, the example that you used in your post about bananas, Bitcoin is basically not for that, because the transaction value isn't high enough for the buyer to pay any fees for it, even if the fee isn't so high, it will still be costly if the value of the item being bought isn't high either. So, when you are buying stuff that costs maybe less than $20 or something, you shouldn't use Bitcoin for that even if the transaction is quick.

We might be able to do that in the future which I doubt because you can't pay $0.2 for an item worth $0.5, that's absurd, you better pay with cash or use something that costs you nothing for that transaction, and we know that almost every cryptocurrency has a transaction fee associated with it.

Correct, even with a low fee and the mempool being almost empty there are limits to the minimum amount you can use to pay for something with bitcoin, at that point people should use an altcoin with way cheaper fees or cash and they will save themselves some money, however the bigger the amount you use to transact with bitcoin the cheaper it becomes to do so, it is because of this some forum members believe bitcoin will become like gold and it will only be used once people need to make a large purchase.

[Bitcoin_people]

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It is possible to pay bills for instant services and various goods with Bitcoin but not all places accept this Bitcoin payment. If you buy a product at a place that accepts bitcoin payments, you can pay for that product in bitcoins. And if you pay attention and browse various social media, you will surely see that currently Bitcoin fees are not very high. And in the case of shopping malls and electricity bills, you can pay for all these services by paying with Bitcoin. For example, if I buy food from somewhere, if I don't have real money to pay the food bill, then of course I can use currency. But if the place where I buy the food from doesn't accept bitcoin payment then I can't pay that food bill with bitcoin payment. So if you buy a product from any place, if the store accepts bitcoin payment, then of course it is possible to pay the bill with bitcoin very easily. And nowadays most of the places accept Bitcoin payment when buying any product, because at the moment the transaction fee of Bitcoin has been reduced a lot due to which transactions can be made faster and the payment system can be made more easily.