![]() Lightning Network (Strike’s or anyone else’s) could make the latter significantly more manageable.”įrank Corva, Senior Digital Assets Analyst at įrank Corva, the Senior Digital Assets Analyst at, spoke with Finance Magnates about the challenges it faces for citizens of developed countries to adopt Bitcoin payments. So, I guess the main challenge for widespread Bitcoin payments is a combination of infrastructure and BTC’s scalability woes. Meanwhile, Strike has done a great job integrating BTC payments with Shopify. BitPay makes it simple for merchants to receive BTC payments. However, Guillaume talked about some companies making the job easier for arranging Bitcoin payments nowadays, which is helping to bolster this adoption: “However, companies like Strike and BitPay have made Bitcoin payments a lot simpler. Nobody wants to be the next pizza guy, right? That is the biggest problem with using BTC as a payment method, and why I feel stablecoins could be the more preferred crypto payment method, at least in the short-to-mid term,” he commented. “The problem with Bitcoin payments is that nobody really likes to spend their BTC. As of June this year, there are around 250,000 Bitcoin transactions daily. There were around 330,000 Bitcoin transactions daily in December 2020 and around 400,000 in early January 2021. Regarding transactions, with more people showing interest in Bitcoin, Statista unveiled that the number of Bitcoins processed in a single day reached its peak at the beginning of 2021. Since some large firms had used intermediary services before, this was a big change. Tesla announced, in February 2021, that it was considering accepting Bitcoin as a direct payment method for its Model 3 vehicles. This raises the question of whether big companies are open to using virtual coins. Some of the companies listed in the ranking are retail chains or gas stations, while others are small businesses. Will Bitcoin payments become just a trend of the past? Or will it be the future? Monday, | 22:58 GMTĪccording to Statista, in the number of businesses that either have a cryptocurrency ATM or offer crypto as an in-store payment method as of March 9, 2021, quick service and casual dining restaurants are leading the ranking, with 1,904 businesses, followed by accommodation and IT services, with 1,159 and 1,129 businesses, respectively. ![]() The New Era of Payments with Bitcoin: Is it Now the Norm?Įxperts put in context the major challenges for Bitcoin payments' adoption nowadays.
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