Here’s How Future Founders Will Build On It
The crypto has long been criticized for its lack of intrinsic value. However, the shift to contactless transactions amid the pandemic has underscored the value of digital currencies and blockchain technology in the modern world.
For this reason, merchants have been slow to adopt cryptocurrencies as a mode of payment. However, as it becomes mainstream, we can expect to see more businesses accepting crypto in the future.
The global pandemic has changed the way many of us do business. The shift from cash and face-to-face transactions to digital cashless transactions has allowed many people to experience the convenience of digital payment. It’s no surprise, then, that crypto is starting to gain traction as a viable payment option — one that will only continue to evolve.
Although still in their infancy, major platforms such as PayPal, Visa and Mastercard have already started allowing customers to purchase and transact crypto through their platforms. PayPal can now be used to purchase and perform crypto transactions such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).
Meanwhile, Visa allows users to transact with stablecoins on the Ethereum network. Mastercard too announcement launching its crypto card in late 2021 and is expected to support most digital currencies in the coming years.
Traders who are still hesitant to accept crypto can rest easy knowing that it is here to stay. The arguments for and against crypto as a payment method are slowly balancing out, and more businesses will likely start accepting it in the near future. Additionally, businesses can save on transaction fees when using crypto as a payment method.