Is stable coins ideal as payment method for online store?

[Justin]

Since stable coins are more like fiat currency that does not fluctuate too often. I think stablecoins can be the ideal method to make payment.

 

[greenie]

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

 

[Good-Person]

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.

Stable coins could be a great way to pay people but I am only concerned about fees. For example, Tether ERC-20 Token is a popular stable coin, but I am not sure what is the fees associated with the coin? Do you have some idea?

 

[Sotherefore]

That supposed to be the best payment method because the value of the stable coin will not reduce drastically, but unfortunately maybe there are some website that can still accept high volatlie cryptocurrency like bitcoins, but if I have a website online and I want to accept cryptocurrency I'll definitely go for the stablecoin

 

[Smiles20]

If you are just setting up an online store then it is very good that you should consider adding stablecoins. This is because your finances are not going to be affected easily whenever there is a market turnover.

 

[ganibade]

stable coins ideal as payment method for online store. I have not use stable coin to replace bitcoin online. This is because I don't give much response on it. I would create time to know more about it.

 

[Dagm1]

You are correct. Stable currencies, in my opinion, may and should be considered as alternative option for online payment. Because these coins have the same value as the intended fiat currency, they are preferable alternatives. The difficulty with bitcoins and other cryptocurrencies is that they are always subject to price swings and transaction costs.

 

[tyrim88]

One of the things that makes a lot of onlne stores to be a bit weary of accepting cryptocurency is because of its volatile nature,but with the introduction of stable coin,that issue can be address,except for soem persons who are using it for some unwholesome practice.

 

[Josephjossy]

Stable coin is now a main and good payment method for many platforms now, I also love making payments with stable coin like USDT, it is easy to make payment with it, I love receiving payment with it as well, stable coin is the future

 

[Sincerem]

Binance pay has made shopping easier, with binance pay, you can shop in your favourite online store. With the help of third party payment gateways, which is notably of Bitrefill, crypto-refill, you can shop online and also use crypto to buy airtime, data, and so many others.

 

[James]

Yes it could be and it is good for you as value never drops much. Also more and more stores now accepting payments in terms of digital coins so you can say it will be normal in next 5 years and we will pay most of things with coins

 

[tyrim88]

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.

That is one of the main reason that most investors in the cryptocurency market usually make use of stable coin to do their transaction,especially to buy crypto,and some conservative ones save their money in stable coin.

 

[HayKay]

I would definitely welcome the idea of accepting payment in stable coins considering the recent bearish happenings in the crypto market. If those coins wouldn't be affected by the dip why not?

 

[Nomad]

Since a stable coin is pegged with fiat currency, mainly USD, the value does not change. This offers a great potential for businesses and individuals to use stablecoin as a payment form. However, the main problem is with transfer charges. The transfer charges tend to be higher than liteocin and bitcoin cash.