Anyone know if any physical stores accept stablecoins? Some folks say they’re the future of money, blending the best of fiat and crypto. I heard Congress passed a bill to make stablecoins the go-to digital currency in the US, so I wonder if it’ll catch on.
Do any physical stores accept stablecoins for payments?
19 replies 289 views
kevin_bridgeFull Member
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#2Jan 9, 2020, 09:28 PM
Never seen a store taking stablecoins, but it makes sense. I know some local shops deal with stablecoins online. They like it better than Bitcoin, since it’s faster and way more stable. No crazy price swings every few hours.
falcon_2020Member
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#3Jan 10, 2020, 07:29 PM
Nope, no stores here accept stablecoins or crypto at all. It’s illegal in my country. If businesses try, banks might cut them off. They only play nice if the central bank gives the nod, and that’s not happening anytime soon.
SwiftMatrixNewbie
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#4Jan 12, 2020, 05:16 AM
I haven’t spotted any physical store taking stablecoin payments directly. But I’ve heard of shops that let you pay through exchanges. That’s not truly blockchain though, just an internal exchange transfer.
BasedOmegaNewbie
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#5Jan 14, 2020, 10:45 AM
I had a shot at paying with crypto at a boutique in Abuja. I was gonna do a P2P fiat payment but asked about crypto instead. The owner was cool and let me pay in USDT. Some vendors are open to it, just not widely advertised since crypto isn’t super popular.
I’ve paid with Bitcoin before, but stablecoins? Not really. I think the freezing issue freaks people out. Plus, the stories about them being backed by fiat sound sketchy. A solid audit would probably show a lot of shady stuff.
There was a phone shop near me that accepted Bitcoin, but they stopped due to government rules. Accepting crypto isn’t the hard part. It’s the fees for converting coins that mess up everything. If vendors only take stablecoins, they gotta convert Bitcoin first, and that’s pricey.
In my country, many merchants accept crypto, including stablecoins. Even with the government not fully backing it, people still find ways to use it for payments.
gas_oracleMember
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#9Jan 15, 2020, 07:30 AM
I used to doubt any stores took crypto because it’s not government-approved here. But I found posts online about merchants accepting payments, and a friend confirmed it. Surprising, right?
Not specifically for stablecoins, but some stores around here let you pay with various cryptocurrencies thanks to a payment processor they use. It’s getting more common.
I can’t think of any physical stores accepting stablecoins. My government is super strict about crypto, so no chance of that happening. I’ve traveled a bunch and still haven’t seen any. Honestly, Bitcoin feels more like an investment than a payment method now.
The US is gonna favor stablecoins since most are dollar-pegged. The government will likely take control of the companies behind them, turning them into digital dollars. They’re super popular here for transactions, even more than our CBDC.
If crypto gets more mainstream, stablecoins will be key. In my country, they’re a better option than a standard bank account. For businesses wanting to adopt crypto, stablecoins can be a solid choice.
There’s a difference between stablecoins and CBDCs. Stablecoins are backed by reserves, while CBDCs are digital versions of fiat from central banks. I don’t think stablecoins will replace CBDCs, but they’re not going away either.
We’ve got crypto cards now, like the KAST card I use. This is the future of using crypto. You can spend it like regular money without merchants knowing.
RogueShardMember
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#16Jan 16, 2020, 07:56 AM
Yeah, I’ve heard about those crypto cards before. Not sure if they’re from crypto.com or another source, but it’s cool to see more options emerging. It’s just digital payments evolving, they’re not the ultimate solution.
Accepting Bitcoin is tricky due to volatility, but stablecoins? Totally different. Most run on scalable blockchains, making payments quick and cheap. The real issue is regulatory compliance with governments.
51gma_ravenMember
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#18Jan 16, 2020, 12:27 PM
I’ve spotted a few coffee shops in big cities like NYC and Miami taking USDC and USDT, but it’s still not common. Most rely on crypto payment processors to handle stablecoin transactions.
bear_diamondMember
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#19Jan 16, 2020, 03:56 PM
I disagree. If you get loads of Bitcoin payments, switching to stablecoins might be smart. But if Bitcoin is just a tiny part of your income, it’s better as savings.
chr1sv3ctorFull Member
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#20Jan 16, 2020, 06:20 PM
If Bitcoin makes up most of your income, that’s risky. Using fiat or stablecoins for daily cash flow is smart. You can always DCA back into Bitcoin if that’s your thing.