Crypto has long been criticized for its lack of inherent value. However, the shift to contactless transactions amid the pandemic has emphasized the value of digital currencies and blockchain technology in the modern world.
For this reason, merchants have been slow to adopt cryptocurrencies as a form of payment. However, as it gains widespread use, we can expect to see more companies accepting cryptocurrencies 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 has introduced many people to the convenience of paying digitally. So it's no surprise that cryptocurrencies are starting to gain ground as a viable payment option; one that will only continue to evolve.
While still in the early stages, major platforms like PayPal, Visa, and Mastercard have already started allowing customers to buy and transact crypto through its platforms. PayPal can now be used to buy and transact crypto like Bitcoin (BTC), ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).
Meanwhile, Visa allows users to transact with stablecoins on the Ethereum network. master card too Announced its crypto card launch in late 2021 and is set to support most digital currencies in the coming years.
Merchants who are still on the fence about accepting crypto can rest easy knowing that it is here to stay. The cases for and against cryptocurrencies as a form of payment are slowly balancing out, and more businesses are likely to start accepting them in the near future. Additionally, businesses can save on transaction fees when they use cryptocurrencies as a form of payment.
