Is stable coins ideal as payment method for online store?

[Tienda]

Years ago there are many online website store who added Bitcoin on their platform as a payment method.
Then with the time they have deleted it because of the instability Bitcoin price vs dollar.
But now I think with the creation of stable coins Tether USDT, USDC....etc will be the best option as payment method for online store, because the stability prices.

What do you think about stable coin as an online payment method?....​

 

[gammarays]

I think stablecoins especially usdt has been underutilized by payment platforms. That's the crypto token that should replace fiat currencies online. It'll make transactions faster and flexible. Maybe the factors hindering it includes it's anonymous nature which will make scammers have a field day. Also it's transaction fees is costlier than that of fiat currencies.

 

[Ralphjoe]

Stable coins will be a game changer in the online payment gateway market, Cryptocurrency like USDT like you rightly mentioned will be most suited for this purpose. Online shops should reconsider their stance on the non usage of cryptocurrencies in their payment schedule.

 

[Sincerem]

Years ago there are many online website store who added Bitcoin on their platform as a payment method.
Then with the time they have deleted it because of the instability Bitcoin price vs dollar.
But now I think with the creation of stable coins Tether USDT, USDC....etc will be the best option as payment method for online store, because the stability prices.

What do you think about stable coin as an online payment method?....​

If that gonna be considered by online stores, and other online working sites. Then it gonna be another plus workers to receive exactly what they work for, in case the price of unstable coins drop it won't cause panic. Cos they are not using unstable coins for payment rather stable coins equivalent with the USD.

 

[Niftyyem]

You are right. At least these stable coins share similar features to the dollar compared to other Cryptos. It is actually a wonder why they are not adopted as means of payment for transactions carried out online especially stores and payment for services.

 

[WhiteHouse]

To date, the purpose of stablecoins hasn’t been for purchasers to see their investment increase in value - but, rather, to be able to purchase a cryptocurrency that has equivalent stability to a given fiat currency (most often usd - but stablecoins for other fiat currencies are coming online, too).

The benefit of this, the most prominent example to date being Tether (USDT) - is that you now own a cryptocurrency that isn’t going to vacillate in the same way that, say, Bitcoin might - either up or down - and (the main reason people have some funds in stablecoins) - which you can use to purchase other cryptocurrencies as quickly and easily as you can with Bitcoin or Ether.

 

[Keibah]

You are right. I think stable coins can and should be considered as another option for payment online. These coins are better substitutes since they have same value as the intending fiat currency. Bitcoins and other cryptocurrency always have the problem of fluctuations or transaction fees.

 

[Patrik]

i believe they are, and especially with their stable value, they could fit just well as a payment method, that's why probably stores online refuse to accept crypto, because its value isn't stable and they are afraid to lose all of their money if that certain coin's value drops

 

[btaliat]

That's true but these stable coins as well are sometimes affected by the price of dollars, if I am right. But I think in the long run stable coins like USDT and the likes maybe adopted as a means of payment especially online shopping.

 

[Ehizzy1]

I think stable coin is still okay for online payment stores , because many people are considering that since the existence of crypto currency flunctuation i think , so stable coin would be better and more easier , most especially during this pandemic

 

[Sake]

Yes since they're not different from fiat money already. Problem is I don't know any online shops/stores that accepts them. I know some who accept bitcoin as payment but haven't encountered any that accepts USDT or USDC

 

[Goodday]

Maybe I guess online stores don't accept stable coins because they share almost the same features with fiat and yet they have higher transaction fees. Because of the transaction fees, they prefer the fiat to the crypto stable coins.

 

[Kamon c4]

Stable coins will a perfect payment method for online purposes. The volatility of other coin made the websites remove it as an option. I believe stable coins like libra will be of great use in online transactions dealings.

 

[MastetG]

When customers use a stablecoin, they can bypass the traditional hurdles of transferring funds and dealing with local currency conversions. They get real-time payments, better exchange rates and lower transaction costs. ... Stablecoins are backed by real monetary assets, such as fiat currencies held in a bank

 

[giddy]

yes I have been thinking of that, and that is the major reason why it was first created
Stablecoins are cryptocurrencies designed to minimize the volatility of the price of thestablecoin, relative to some "stable" asset or basket of assets. A stablecoin can be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities (such as precious metals or industrial metals).

 

[BrolySSJ]

Years ago there are many online website store who added Bitcoin on their platform as a payment method.
Then with the time they have deleted it because of the instability Bitcoin price vs dollar.
But now I think with the creation of stable coins Tether USDT, USDC....etc will be the best option as payment method for online store, because the stability prices.

What do you think about stable coin as an online payment method?....​

Coins like this are a very good option when it comes to payments for merchants for their goods and services because the prices do not change much over time, shifting with minor changes of maybe 1-2%. Therefore the buyer is not paying more than he needs to if the price goes up and the merchant is not running at a loss. I think that the only concern with some of these stable coins like UST though is that there is quite a hefty transaction transaction fee that is associated with them as well.

 

[Nma]

Well.... I think it's better to use stable coins to pay in an online store than unstable coins.... personally I do not like those stable coins because when I decide to save them they won't even appreciate in future... I prefer btc and it's likes

 

[Lagazine]

Their is no stable no anywhere, all crypto coins are the same, they are meant to rise and fall so that both crypto developer and investors can enjoy it. I see Bitcoin taking its position anytime, any day. All online stores are accepting bitcoin and other crypto coin and it has little or nothing to do with them.

 

[Niftyyem]

Their is no stable no anywhere, all crypto coins are the same, they are meant to rise and fall so that both crypto developer and investors can enjoy it. I see Bitcoin taking its position anytime, any day. All online stores are accepting bitcoin and other crypto coin and it has little or nothing to do with them.

Well, I beg to disagree. There are stable coins that their prices do not fluctuate and many people who fear fluctuations in the price of the other coins, use them to keep their funds. I think it would be a better option for making payments even better than Bitcoin.

 

[Suba]

I think that is one of the advantages of stablecoins as a medium of exchange as a substitute for Bitcoin which has very high volatility
So not only can stable coins be used as payment at online stores but also in offline stores and shops, stablecoins are also very suitable and cheap in fees as a means of transferring money between countries without having to involve the bank.