Bitcoin, often referred to as digital gold, was intended to be also a means of payment. Is Bitcoin likely to replace commonly used credit cards and become the method of payment on global scale? Let us have a look at the current situation and see whether it is possible or not.
Credit cards are friendly for users. Bitcoin not so much
In spite of many advantages of Bitcoin signals, Bitmex signals, telegram crypto and other cryptocurrencies, it also has plenty of downsides that other, commonly accepted forms of payments do not have. Credit cards are very easy in use. Some people claim that they are so simple that it is actually harmful to customers. Bitcoin requires some effort to properly store it, secure against threats, and send transactions. Making sure that the payment goes to the correct address is probably the most significant defect of Bitcoin. What’s more, if the user makes a mistake, there is no customer service department that could fix it.
It means that credit cards have got huge advantage when it comes to the ease of use, especially for users, who are not susceptible to learning new technologies. Older people, who are still using cash, and from time to time credit cards, will probably never use Bitcoin. Reluctance may also be caused by the lack of faith in the idea of Bitcoin as a defilation currency.
Bitcoin properties do not encourage to use it as a method of payment
As a defilation currency, which the increase of the value results from the limited number of coins and the growing demand, Bitcoin discourages us from spending money. Companies that wanted to replace the credit card payments with Bitcoins have to understand that even if everyone will accept cryptocurrency, Crypto Signals their sales may drop since people will think twice before making a purchase. The fact that there will be only 21 million coins makes the users of Bitcoin to behave differently from average customer.