Is stable coins ideal as payment method for online store?

[BrolySSJ]

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.

Stable coins are coins such as the tether coins (USDT) and the dollar coins (USDC). These are considered to be be stable coins because they are tied into the dollar value. Therefore you may see small fluctuations in the price that may result in changes of possibly one cent, however overall the coins maintain a very similar value to the dollar because they are linked, and hence they are referred to as stable coins.

 

[Josemendez]

Considering the fact that stable coins offer the chance of having cryptocurrency that do not have the volatility associated with Cryptos , using it as an online payment method won't be such a bad idea .
This is why some people save their money in stable coins

 

[Ojonuyo]

Crypto currency is best use online, as the exchange, trading and investing takes place in online space.

Therefore, crypto currency is best used for online payment. Just that most product sellers online do not accept them. I know with time they will.

 

[mahdi304]

with stable coins prices being, well, stable, and having low fees(most of the time) and also the fact that people can use it without any problems from any part of the world, I think they're pretty suitable to be used as payment methods for sure.

 

[Kinglegend01]

Yes I think the use of stable coin as payment method for online store would be idea because that is the idea or pretty much the reason why cryptocurrency would have been a better version of the normal currency but which it isn't because of its volatile nature.

 

[Nurudeen]

If stable coin is added as a means of payment online it will go a long way in paying easily and stop depending only on Fiat currency. But I still believe different online places will still add Bitcoin as their payment platform the way the coin is going up right now.

 

[Ltherman]

I've been thinking along this line for a long time now on how to bridge that gap in international trade and eliminating the need for fiat currency which has tilted the balance of fair trade in favor of some countries.

 

[zagzagi]

Cryptocurrencies are versatile and have many different features. Cryptocurrencies have a great potential to be used as a means of cheap, fast and global payment transactions. For cryptocurrency to become a viable alternative to common payment methods, fluctuations in the markets will need to be seriously halted. As long as the market is volatile, sellers will not want to prefer cryptocurrency as a priority.

Also, according to CoinMap, more than 13,000 stores around the world have begun accepting digital currency as a payment method.

 

[Sotherefore]

It's not really necessary to use stablecoin for online paying method because most of the online store does not even accept stablecoin they are accept the Giants and the most popular cryptocurrency and I believe that using of bitcoins or ethereum to pay for goods and services online to me is the best ,I don't believe in stablecoins because they don't have to only have any value. That's my own little point of view

Post automatically merged: Jan 8, 2021

It's not really necessary to use stablecoin for online paying method because most of the online store does not even accept stablecoin they are accept the Giants and the most popular cryptocurrency and I believe that using of bitcoins or ethereum to pay for goods and services online to me is the best ,I don't believe in stablecoins because they don't have to only have any value. That's my own little point of view

 

[ahmedo24]

Cryptocurrencies are versatile and have many different features. Cryptocurrencies have a great potential to be used as a means of cheap, fast and global payment transactions. For cryptocurrency to become a viable alternative to common payment methods, fluctuations in the markets will need to be seriously halted. As long as the market is volatile, sellers will not want to prefer cryptocurrency as a priority.

Also, according to CoinMap, more than 13,000 stores around the world have begun accepting digital currency as a payment method.

This is nice and enlightening as regards Crypto currencies generally. Stable coins are very essential because their value is fixed , it is safe for both the buyer and seller at any time because they can take decision unlike Crypto coins that could fall or rise.

 

[Akinwale701]

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.

No Cryptocurrency can determine whether it will be acceptable for payment or not, shop owners to. So whether stable coins are ideal for online payment or not depends on the rules set by the shop owners. many online stores even accept bitcoin as payment method so it's not a bad idea.

 

[Vladv26]

Stable coins are definitely a better option for both store owners and customers because no one them will have to worry about the volatility. Especially shop owners will have an advantage from this

 

[chicnthin]

I think it's a great idea to use stable coins as a ppayment method for online stores. If I'm not mistaken, it is already similar to the fiat currency, unlike some other crypto currency which its price is rising and falling everytime.

 

[Janita]

Two primary reasons for the price stability of fiat currencies are the reserves that back them and the timely market actions by the controlling authorities, like central banks. Since fiat currencies are pegged to an underlying asset, such as gold or forex reserves which act as collateral, their valuations remain free from wild swings

 

[Khezo]

For now I dont think any kind of coin as a payment method is okay. We all know what happen to this coin the way they all rise and fall but its a good innovation anyway that would be accomplished with time

 

[Bilal0087]

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?....​

Bitcoin is still very unstable coin and its price is fluctuating up and down every moment, and I think it is not possible to implement it as payment system at stores.
instead of Bitcoin USD and USDT can be used as online payment system.

 

[Erik4150]

There's no such thing as a stable coin in the cryptocurrency market. There is bound to be fluctuations in price because of the volatility of the coins. But it's okay to use cryptocurrency as a payment method, as long as both parties agree to it, there's nothing to worry about.

 

[Adebayonle7]

Not seen a website or an online store where it is used as a payment method though. Because of the instability of many of these coins, I don't think it's a wise payment method for business entities. But for those like USDT, I can't say certainly as I don't know the details attached to coin as mode of payments.

 

[Ebuka Stephen]

For me stable coins is a good way in paying online, their was a time bit coin was used as a medium of payment in an online store but was later removed because of it is unstable. But other stable coins will be good as a medium of payment for online stores.

 

[joy101]

I think there are no stable cryptos coins, they are the same and they are meant to rise and fall so they are both, when customers use a stablecoin, they can bypass the traditional hurdles of transferring funds and dealing with local,