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.