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Author Topic: Millions of merchants now accept bitcoin for payment.  (Read 2438 times)
oceans
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August 27, 2014, 10:00:49 AM
 #21

It truly is amazing how many places do now accept bitcoin but many of us just do not know it yet. I feel it's a brilliant step in the right direction in regards to making people more aware of bitcoin and even though we are still in the early stages with having companies accept this currency at least we know it's going somewhere and not just at a stand still.
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Mars not Moon
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August 27, 2014, 10:01:39 AM
 #22

That's a good news, for investors, for merchants and the customers themselves. Increasing value of bitcoin will have positive outcomes to everyone!
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August 27, 2014, 10:56:02 AM
 #23

The new Citi report quoted in Coindesk reckons that massive merchant adoption could be part of the reason prices have been flagging
On the other hand, Citi might just be talking its own book Wink
The citi report is correct to say that the major merchants accepting bitcoin is causing additional supply to flood the bitcoin market. What it fails to account for is how/when the bitcoin that used to pay for goods from a merchant are purchased. I would argue that most of the bitcoin that are used to pay for goods and services are purchased on an exchange for the specific reason of spending them sometime down the road.
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August 27, 2014, 11:46:46 AM
 #24

Pretty amazing that 3 companies alone, bitpay, coinbase and XAPO, can interface bitcoin into the global payment network.

We are still in the early stage, and will need more players to lower the fee.

+1
additionally although Xapo charges a 3% fee ..when using it abroad it is very competitive  if not much cheaper than 90% of other cards



http://chinaimport.hubpages.com/hub/Money-saving-tips-exchanging-foreign-currency-travelling-abroad

Source: Dailymail.co.uk
4. Bank Debit Cards

Bank issued debit cards are similar to stored value or prepaid travel cards, but they are linked to your bank account. It is generally not advisable to use debit cards because:

    High transaction fee for use
    High ATM withdrawal fee
    In case of fraud you may lose all money in your account

The fees are dictated by the bank who has issued you the debit cards.

If you have to use a debit card to avoid overspending it is always better to buy a stored value / prepaid travel cards offered by banks and online dealers. Keep your bank issued debit cards for backup only.
5. International Credit Cards

Credit cards are safe, easy to carry and offer protection in case of any dispute arising with the seller of the goods and services abroad. They can be easily be replaced if lost and offer exchange rates near to inter bank rate.

Travel is a major expense and most bank offers to spread out payment over a period of a few months so that you get better control over your finances. It also allows you to earn cash back, lounge access at airports and loyalty points. However, it can be as expensive as a debit card, even more if you have an unpaid balance on your card.

Many banks will charge you for use of credit cards in any of the following ways:

Foreign Exchange Fee: Your bank can charge of 3% to 5% simply because you have used it abroad.

Cash Withdrawal Fee: Bank would charge heavily for ATM withdrawal abroad, which could be 7% of the withdrawal amount. In addition, foreign bank who owns the ATM may charge a flat fee for the same. It is best to avoid using a credit card for cash withdrawal abroad.

Interest Charges: If your balance is not paid on time, all unpaid balance may attract a hefty interest rate ranging between 18% to 30% that evaporates all savings that you earned by cash back or loyalty points.


When to use credit cards abroad?

    For Flight booking
    For Hotel booking
    For fine dining if there is an offer
    For high value purchases (watches, electronics)

Using a credit card abroad? Consider this.

    Many US credit cards lack extended security feature of PIN + CHIP that are popular in Europe and Asia which makes them unusable while traveling abroad.
    Some merchants offer to convert charges in your local currency. Avoid it. While it locks transaction value in your local currency, it also allows merchants to charge a conversion fee that can be as high as 5%.
    Hotels or car rental agency may put a hold on money equivalent to your expected bill. They may forget to remove this hold even after the bill is paid. So ensure that the hold is removed.
    Your credit card company may block your card if used abroad without notifying them. Let them know before you travel if you plan to use their credit card.
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August 27, 2014, 12:38:51 PM
 #25


Well it's hard to say they accept BTC when they're ringing your transaction up in fiat and receiving fiat in return.

Yep, but in the sense that people can now use Bitcoin as a payment mechanism precluding an account with Xapo for a debit card
It is a step forward although not quite anonymous though 
But at least it can be used anywhere more or less no holds barred and at a fairly efficient rate.

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realdope
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August 27, 2014, 12:45:20 PM
 #26

We need TONS more and big players to get in.
PalmerLaura
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August 29, 2014, 05:39:57 AM
 #27

Aggregator merchants help reach a lot of merchants

CoolBliss
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August 29, 2014, 05:56:38 AM
 #28

You're just creating a rod for your own back
Millions of merchants you say.. well if true, are there customers to match? There are less than a million Bitcoin users, most of whom only have amounts totaling a handful of dollars - and how many of those remaining plan to cash in their Bitcoin for overpriced products anyway?
qwerty555
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August 29, 2014, 07:30:17 AM
 #29

You're just creating a rod for your own back
Millions of merchants you say.. well if true, are there customers to match? There are less than a million Bitcoin users, most of whom only have amounts totaling a handful of dollars - and how many of those remaining plan to cash in their Bitcoin for overpriced products anyway?

We should remember that Xapo is less than 1 month old....there is probably  a logistics problem on issuing the existing applications ( I am still waiting) assuming that the demand is as high as it should be..ergo no advertising..but when they are geared up to handle the expected demand .. as soon as they advertise the true advantage of Xapo..ie saving when spending in a foreign country, I can see the cards issued rising to 1 Million + in a short period of time..maybe 1 year..As a business traveler ....who would not wish to save 1-3% on the cost of spending? and the potential to have funds increase in fiat value by 20-100% ( if you are a believer)

Then add the un-banked who could now purchase online and save up to 66%  that has the potential for millions more customers. I have frequently used my card to book tickets for non card holders to the point where I stopped as it became time consuming and aggravating..this is now an opportunity for them to increase their options and be able to transact on line with a debit card.
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August 29, 2014, 09:50:10 AM
 #30

If merchants think BTC is a great investment, then it really is. I am happy after buying 10 bitcoins Smiley

And finally there will be diversity among BTC users Smiley
Damnyo
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August 29, 2014, 02:35:38 PM
 #31

We need big players in, aka eBay.
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August 29, 2014, 02:52:08 PM
 #32

It's a world-wide hit. Just heard that Bangladesh is now a part of it. Loving it... Cool Cool

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August 29, 2014, 02:57:21 PM
 #33

More important: how many buys are paid using Bitcoin? If few, merchants will lose interest about accepting Bitcoin, and merchants might cut the Bitcoin option too.
wasserman99
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August 29, 2014, 05:05:51 PM
 #34

It truly is amazing how many places do now accept bitcoin but many of us just do not know it yet. I feel it's a brilliant step in the right direction in regards to making people more aware of bitcoin and even though we are still in the early stages with having companies accept this currency at least we know it's going somewhere and not just at a stand still.
I think that most merchants that accept bitcoin try to make it publicly known because of the additional sales that accepting bitcoin generally creates. Making a public announcement will also likely get the merchant some kind of free press coverage (positive coverage) which is essentially like free advertising.

I think that the number of merchants that accept bitcoin will continue to grow exponentially which will cause the rate of public adoption to continue to grow. 

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August 29, 2014, 05:15:58 PM
 #35

That's a good news. Tons of people have started using bitcoins now..

And sellers profit from BTC too...sort of investment..
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September 27, 2014, 01:56:36 PM
 #36

bitcoin= onward ad upward
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September 27, 2014, 02:01:08 PM
 #37

bitcoin= onward ad upward

Yes, from a pumpers point of view. From everyone else's: we need adoption to grow. price and cap follows then.
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September 27, 2014, 02:02:58 PM
 #38

It is very good news. I don't know that so much merchants are involved with Bitcoin Cheesy
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September 27, 2014, 02:25:37 PM
 #39

They say that bitcoin won't last, well this is a clear indication that Bitcoin community is slowly but surely growing into the world economy.
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