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Opinion: What is preventing crypto payments from becoming mainstream?



Interest in crypto has increased dramatically over the past few years as businesses and individuals have begun to recognize the benefits of blockchain technology. Meanwhile, with the price of Bitcoin (BTC) reaching new all-time highs recently, many new consumers want to use cryptocurrencies in their daily lives.

Still, critics argue that crypto payments are neither technologically friendly nor easily accessible, meaning they are still a long way from becoming mainstream. The technology is uncomplicated for consumers or business owners, and the biggest problem with crypto payments right now is the lack of available information.

Myth 1: Merchants must adjust the system

BMEX market view: The probability of the formation of the top of the daily line is increasing, and the profit expectation is starting to be greater than the long order. : The market fell during the day yesterday, the low point appeared at 9 o’clock in the evening, and the lowest point was only one 1-minute low. Before that, there was a resonance bottom below the 15-minute level. To find this lowest point, you need to start in the afternoon Start with long orders, try every low point, use capital preservation and stop loss to control the risk of low points that are not the lowest, and keep opening long orders at more suitable prices, so that it is possible to find this point, the overall difficulty is not small , It is also in line with the judgment that the current market has entered a complex stage.

At present, the market has once again appeared a 1-hour top. Although the trend is bullish recently, there will basically be a not-so-small top after a round of rise. Moreover, this 1-hour top has short-selling value, because the price is now very close to the trend. 1 The hourly top can at least turn the trend into a shock, so this morning you can look for a short single-point operation, and the probability of forming the top of the daily line is increasing. From here, the profit expectation of the short order starting from the point is greater than that of the long order.

Investment is risky, and you need to be cautious when entering the market. The above opinions are only for sharing, not as investment guidance. Digital currency contracts are a high-risk market. Please do a good job of risk control and set stop profit and stop loss for transactions. [2021/3/13 18:41:43]

One of the most common misconceptions related to crypto is that in order for crypto to enter the mainstream, businesses and merchants need to adapt their systems to handle crypto payments. Actually not.

Opinion: Getting involved in Bitcoin mining could make Iran one of the richest countries: Now the Iranian government is said to have more than 45,000 Bitcoin mining machines, tweeted Waqar Zaka, a prominent Pakistani TV and video host. That could help Iran become one of the world's wealthiest countries and avoid economic sanctions imposed by the United States. Earlier reports said Iran had lifted its ban on cryptocurrencies and dabbled in bitcoin mining. The government announced that it would buy all the bitcoin produced by local miners. Bitcoin proponent Max Keiser believes that Iran and Venezuela could gain trillions of dollars by entering the cryptocurrency mining market. (U. Today) [2021/2/8 19:14:45]

A number of companies, including Wirex, are now offering crypto-enabled cards, meaning customers can use crypto to buy everything as long as they accept MasterCard or Visa. The technology usually works the same way you would pay with traditional currency abroad, converting the cryptocurrency to traditional currency at the point of sale. Cryptography has grown tremendously in recent years, so one of the main issues to be addressed now is to raise awareness of crypto as an alternative to traditional payment methods.

Opinion: The rumor that Ant was included in the US "blacklist" will not prevent investment in its blockchain and other fields: Some analysts believe that the rumor that Ant has been included in the US "blacklist" is largely symbolic and will not Preventing Ant from going public or investing in key areas such as blockchain would have minimal impact on Ant's business and IPO plans. (Financial Associated Press) [2020/10/16]

Myth 2: Encryption is insecure and complicated

Previously, cryptocurrencies were not easily accepted by the mass market due to their complexity and were considered insecure and negatively associated with crypto-gambling. One of the easiest ways to help challenge this stigma is to increase the amount of information available.

Many people are unaware of the advantages crypto can offer when it comes to payments, such as lower transaction costs and faster transactions. It can also benefit businesses with a large number of international clients, as encryption can provide a higher level of security and reduce banking fees. Multiple studies conducted have shown that consumers are open to alternatives to traditional payment methods as long as they cost less, and crypto payments may be the answer many are looking for.

Myth 3: Cryptocurrencies are unstable

People often think that cryptocurrencies are inherently volatile, meaning they are reluctant to use them for payments because they fear they may be a risky asset to hold. However, labeling all crypto assets as inherently volatile is misleading. As stablecoins become more popular, crypto can be an option for those who want stability. British Prime Minister Rishi Sanuk said this could benefit the wider adoption of stablecoins, as stablecoins “could change the way people store and exchange money, making payments cheaper and faster.”

Government officials recognizing the possible economic benefits of crypto payments will play a huge role in legalizing crypto. The problem, however, is that stablecoins are not widely understood. Recent studies have shown that only 25% of crypto users are aware of stablecoins, and the lack of recognition is a major barrier preventing crypto payments from entering the mainstream.

Solution: Increase popularity

There is no doubt that continuing to raise awareness of the benefits of cryptocurrencies will have a huge impact on the mass adoption of cryptocurrencies. Impressive progress has been made in recent years, with businesses such as Tesla, Rush and others now directly accepting Bitcoin as a payment method.

The next hurdle to overcome is ensuring that people at all levels are provided with sufficient information to help clarify the stigma surrounding cryptocurrencies and advocate for the benefits that cryptocurrency payments and the digital economy can bring.

Note: The original text comes from cryptonews, compiled by Linda, and the English copyright belongs to the original author.


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