Post
Topic
Board Bitcoin Discussion
Re: Number of Merchants Accepting BTC Payments Surged by 174% in 2023
by
Die_empty
on 08/01/2024, 19:38:21 UTC
In your opinion, why do you think more businesses accepting Bitcoin as payment method are concentrated in American and European continents?
The nations have some of the best economies in the world. Bitcoin is gradually becoming a currency of the rich, so you don't expect companies in developed nations to adopt Bitcoin payment because most people are below the poverty line. These nations also have high literacy rates which helps in Bitcoin education and adoption. The bottom line is that more people use Bitcoin in these nations, which will encourage companies to accept Bitcoin payments. American and European nations also have advanced infrastructures and technology that make Bitcoin transactions easier and more convenient. Some countries in Africa lack electricity and internet facilities, therefore you don't expect companies to promote Bitcoin payments. Another reason might also be government policies. Most of these nations that are experiencing an increase in the number of merchants because these nations have favourable policies.         

I think BTC is awesome way for making transactions, just that I have seen its more popular payment method with people who want to stay anonymous, some how people who are willing to share their KYC, they still prefer paypal, and credit/debit cards.

Privacy is one of the benefits of using Bitcoin for making payments. The high transaction fees might be discouraging but privacy is also a great advantage. Using decentralised wallets and platforms is the best if you want to maintain privacy. But those who don't care about privacy use centralised platforms.