We need more payment gateways that accept crypto
The future of currency transactions is going to be crypto. But it would take a minimum of 10 more years for things to get stabilized. We are currently having some nice breakthroughs with technologies but we still have room for improvement. I'm already happy that when it comes to payment, there are already many service providers that have started accepting crypto as their payments. Some service providers fear implementing crypto because there is a high possibility that the demand for cash or FIAT-based transactions would go down.
Some people also fear that this can trigger the government and they might impose some taxes or regulations on that. In some countries, the crypto situation is still not very clear. For example in India, we have a taxation system now in place for crypto but when it comes to regulations, things are still not very clear. Even the Auditors don't have any knowledge of crypto and they are not very clear as to how this should be handled. It can take at least a year or two for crypto to stabilize in India. Many countries are also introducing a tax system and regulating crypto transactions following the trials of the Indian government.
Payment through crypto
Many people have full-time jobs in the crypto industry and for some people, the payment is being given in the form of cryptocurrencies. They either convert those cryptocurrencies to FIAT or directly use services that accept crypto as payments. This is one of the primary reasons why we need more options to pay our bills through crypto. There are already many online services available that keep crypto as their payment method.
Privacy is one best example of this. I use Privacy as my primary service provider. It gets handy because I'm able to pay directly with the help of crypto. Even though there are other competitors and cheaper options available to get servers with crypto, I find Privex very comfortable because they also accept cryptocurrencies which are my favorite and most used ones.
Payment gateways that accept crypto
We need more and more players in the crypto industry now. We already have some people like Binance offering payment through crypto. There is also another payment gateway called BitPay that provides a facility to pay directly with the help of crypto. Just having 2 or 3 such options is not going to be enough. At the rate at which the crypto industry is growing, we need more and more payment gateways.
The regulations can be a tricky part and especially for services across the world and overseas, working out something that would suit multiple country governments can be a little tricky. Some people might share a thought saying that the main intention of having crypto as payment is to get rid of the tax system or the intermediate government. But I would say that in many countries government plays a very important role in terms of safety and basic procurement. Taking the government completely out of the picture by not paying taxes can be a very bad idea.
To start with, there can be a few big players starting to accept crypto on a trial basis. Google can be one of the best candidates because they have a very good payment system already in place. Other players like PayPal, PayU Money, and PayTM can be other service providers that can come up with a payment gateway to accept and make payments through crypto. Hopefully, in the coming years, we should be able to see more and more service providers offering such services. Let's see.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
 |
 |
 |
 |
 |
 |
Posted Using LeoFinance Beta
First I need my country to make Crypto Legal lol
But tbh I am good as things are right now or else 30-40% tax would be insane ;)
Posted Using LeoFinance Beta
if two years ago you told me that people in 2022 will ask for payments in cryptocurrencies, I would say that you have lost your mind! A few days ago I found the first ad for buying and selling a house, where it asked for the payment to be made in cryptocurrencies. Obviously the ad editor, is not a fan of technology, but more of a lover of tax evasion. In any case, even this undesirable development is positive
It's something that I have mentioned as a problem towards mass adoption and that is the payment system. We need more stores and businesses to accept crypto so we don't have to rely on the traditional banking system for our daily needs.
Posted Using LeoFinance Beta
This post has been manually curated by @steemflow from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
Read our latest announcement post to get more information.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
These games feature exchanging goods, buying or selling them, getting NFTs, and other things. Naturally, you can make cryptocurrency from these trades. You can find out more at https://playtoearn.net/ and discover how the economy functions as well as how to play those games. I can state that these games make up a sizable portion of the gaming industry and are very popular all over the world. Try to learn more by conducting some research.
I completely agree that more crypto payment options would be a huge step forward for businesses. I’ve used https://payneteasy.com/ as a payment gateway, and their tech really simplifies things. What’s cool about them is they’re incredibly flexible—you can customize the entire process to meet your exact requirements, which is pretty rare.