Yeah that's right, shopping with cryptocurrencies is not easy at all as cryptocurrencies are fully online and buying something with them in offline is not possible at all. As cryptocurrencies' price are so unpredictable and selling physical products with them is tricky. So you can buy from online stores as many online store accept cryptocurrencies or you may purchase gift cards with cryptocurrencies as they are also helpful sometimes.
Yeah just for the fact that most crypto fall up to 40% in an hour truly shows more concern on the aspect of using them , i think it should be mainly used for mostly trading
Exactly, cryptocurrencies are better for trading but most investors who are from the countries where direct buy / sell of cryptocurrencies are not available, they prefer to shop through their cryptocurrencies. For them I think online stores are perfect. As many online stores nowadays accept cryptocurrencies.
Yes i think that this is one of the major downfalls when it comes to accepting crypto as a means of payment, because if you look at the fluctuations, if the price goes down over a day, the products sold the previous day will either have a smaller profit margin or there will be a loss incurred. This is very dangerous as a system. It may be best for those accepting crypto to cash it out into fiat in that day or convert it to a stable coin.
But among all crypto currency to be used for payment online , i would always consider bitcoin only because the price dont actually falls like that, like it takes some time before the price falls grately i think but other altcoins are very volatile
Bitcoin does generally take some time to fall, however let us not forget the fall that happened in the beginning of last year. I think it was around the time of February/March where the price crashed rapidly in the course of a few days. This was when the stock markets also crashed. Therefore the unpredictability is there with bitcoin as well, however it has been less evident in my opinion.
I think the fall of bitcoin happens once in a while and not everyday like that of altcoin , like for instance some altcoin could rise above 40% and falls above 90% almost every week. but bitcoin is actually different from others i think , well lets see how the movement in the price of bitcoin goes
I see what you are saying here, and that does make sense. Think about in the perspective of the total price of the coin. Bitcoin is a high value, so if it drops by say 1000 dollars, this is less than 10% of its current price. Whereas the smaller coins, if they had to experience a drop from just 0.02 to 0.01 USD that is a 50% drop. The drop is smaller by the percentage is larger relatively.
Yeah true i think this calculation is also match that and even the 10% fall in a day is gradually and not just immediately while those altcoin fall is up to 70% in a day , i am currently monitoring one coin now called xlmup and it fell from $9 - $1 yesterday only
Wow this is a massive drop in price over a single day. That is a very bad coin. Coins that have falls like that are definitely not good when it comes to investment because it seems that there is no support for that coin and a whale that was holding a large portion of it must have just sold off most of the coins that he had.
That is why is not good to invest in coin you dont really know much about , assuming i invested $100 when the price was $9 i think by now i would be left with only $10 ,because the coin has fallen again to $0.50 , and before you invest first check the volume of the coin
This is a massive drop in the coin. Are there any benefits that the coin is offering or something that the coin is being sold off so rapidly. For example there is a coin in yobit called DLRS and it offers 10% investment profit per day and when people cash it out daily the price crashes more and more. If this a similar case for such a large drop to happen so fast?
In my opinion i think that shops that are already using this as a means of payment are likely to be converting their currency from bitcoin to a stable currency and keeping a portion of it as a long term investment into the crypto world. This in my opinion would make the most sense if i had a business and i was accepting crypto. That way you are able to make sure that you can benefit in the future whist still benefiting now.
