Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Chriscryp on April 26, 2022, 02:23:25 PM
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Fiat money may have the advantage in today’s financial world, but that doesn’t mean crypto can’t find a comfortable place in the transactional economy. From many days I have seen that many e-commerce giants and big brands are now adding crypto payments to their business.
Let's have a look at some of the benefits of crypto payment;
- crypto payments are secured
- faster cross border settlements
- less transaction and conversion fee
Do these types of advantages mean you should make the switch to crypto payments?
I wouldn’t go that far. Even when we discount a popular crypto Bitcoin as a viable form of payment, there are still Crypto coins that are more like cash (known as stable coins) and are designed to be spent and used...but it’s early days.
How do you see the use of crypto payments in the next few years?
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At the end of the day, things will boil down to adoption and in eCommerce specifically the most important factors can be the adoption by merchants and the use of cryptocurrency by the consumers or buyers. Right now, there are still many challenges that must be meet but am sure that in years to come we will get there...where the world will be using cryptocurrencies in everyday of people's lives and where majority of the international transactions are done with Bitcoin or any crypto people and business may choose. We are still not there but it does not mean we will not be.
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The future will tell. So far eCommerce is now live and will be adopted globally sooner. It is so fast to see the development of digital assets, p2p crypto business, digital payments, and many more that are related to ECommerce.
How I see the future? Well, the future will tell the exact things that should happen. But my short overall point of will is powerful and extraordinary worldwide busy crypto business everywhere. You know why? The technology is another factor to enhance Cryptos transactions in a friendly manner.
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Fiat money may have the advantage in today’s financial world, but that doesn’t mean crypto can’t find a comfortable place in the transactional economy. From many days I have seen that many e-commerce giants and big brands are now adding crypto payments to their business.
Let's have a look at some of the benefits of crypto payment;
- crypto payments are secured
- faster cross border settlements
- less transaction and conversion fee
Do these types of advantages mean you should make the switch to crypto payments?
I wouldn’t go that far. Even when we discount a popular crypto Bitcoin as a viable form of payment, there are still Crypto coins that are more like cash (known as stable coins) and are designed to be spent and used...but it’s early days.
How do you see the use of crypto payments in the next few years?
Ease payment was the primary aim of creating bitcoin and It has been justifying this means. When it comes to ease of payment and security, you can take it away from crypto and it can't be compare to convesntional currency.
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In the future, Crypto can be used for legal and internationally recognized payments, I remember the ruble being banned in some international banks due to wars, this will be the choice of many countries to accept crypto and crypto like Bitcoin can be used for payments in big amount.
From the news I read, Russia plans to accept payment for oil using Bitcoin, it will be good because more and more countries use crypto, then fiat currency will slowly be abandoned.
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Russia plans to accept payment for oil using Bitcoin, it will be good because more and more countries use crypto, then fiat currency will slowly be abandoned.
I also heard it, Russia will allow bitcoin for oil and gas payment.
But Russia will have new problem, crypto currency is unstable and always fluctuate.
I don't agree using crypto payment platform have more benefits than using other fiat money.
Fiat money is more stable mate, It's better than crypto.
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With crypto, businesses will have the capital back to continue investing and expanding their business, the transaction costs saved can go directly to the capital, and the economy will grow extremely strong. It's just a matter of which crypto to use when the price volatility is too great, of course stable coin and CBDC are top choices but I don't like them very much.
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There are advantages and disadvantages for both sides. Crypto is trustless and P2P transaction makes it more convenient for users. But the problem is it makes it more difficult to investigate and impose law and order on criminal activity. If someone steals money from your credit card it is easy to track him down but for crypto, it is not that easy especially if it is a privacy coin.
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You are right in the aspect of concording that all coins have similar opportunity to explode, i suppose such much with one point, provided that the coin have a good project their is every tendency that the will accelerate, elevate or increase whenever cryptocurrency marketcap exchange from bearish to bullish time,the only factor that determines the projection or propagation of any coin is it's project, so if the project is relevant to investors it's very obvious that it will make way during the same time Bitcoin will skyrocket.
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Crypto and Fiat both have advantages and disadvantages but we need both equivalently. I think we need more merchants where we will have the option to use any of them whenever we want. I would say we need a project where our funds are insured whenever a holder Ac is hacked like we have the option in fiat to secure the funds by insurance in the credit card frauds. Secondary volatility is too high in the cryptos that's why common man avoid using it So these are the things that need to be fixed and I agree good thing is many big brands are slowly adding crypto payments and this will also increase the trust in cryptocurrencies. We should all work on reducing the fear factor of using cryptos.
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As mainstream adoption gets bigger and regulation becomes the order of the day, crypto utilization would get more common place in commercial cycles. Already Amazon is accepting crypto, though indirectly via bitpay(which buys gift cards with select crypto)
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In the future, Crypto can be used for legal and internationally recognized payments, I remember the ruble being banned in some international banks due to wars, this will be the choice of many countries to accept crypto and crypto like Bitcoin can be used for payments in big amount.
From the news I read, Russia plans to accept payment for oil using Bitcoin, it will be good because more and more countries use crypto, then fiat currency will slowly be abandoned.
Almost member here,, actually hope crypto will be accepted as payment methods.
Talking which more benefits, I think I agree use crypto payment have more benefits than fiat currency.
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Yes, crypto payments will definitely gain momentum in near future, and obviously the use of crypto across border payments even locally will soon dominate all fiats. There has been the fears of banks and many people who want to control faits by campaigning against crypto. Today many of the critics of crypt has made a dramatic Crypto U-turn, now so many of them have become crypto enthusiast.