Post
Topic
Board Altcoin Discussion
Re: What will it take for crypto payment to go mainstream?
by
Kasabus
on 08/07/2020, 21:39:54 UTC
From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.

My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.
Crypto payments are nearly entering the mainstream phase as i have seen few local vendors accepting payments in crypto and secondly i have seen a surge in people that deal in crypto face to face atleast in my city which is also a sign of adoption because it means that people are buying, selling or exchanging crypto on a regular basis now.
Thanks for bring out this fact, I have friends in Singapore who actually confirmed that many stores and few merchants are now accepting cryptos as means of payment, things aren't perfect yet but it will take time, it's already happening, many part of the world aren't just noticing it yet
There are no reasons that crypto payment won't go mainstream because everything will be in order and developed as soon as merchants will start accepting it as a mode of payment. It's high transaction fee and delayed confirmation will still be changed once regulatory measures will be part on it making it more legal and a global payment system.