Can Cryptocurrency Work in Stores?

bitcoin store

Cryptocurrencies are quickly becoming the way of the future as more and more investors choose to get involved. One of the main issues with the currency still stands as to whether or not it can be adapted to work in physical brick-and-mortar stores.

When bitcoin first became popular, its uses were limited to sketchy online purchases on the deep web. Since that time, the currency has been adapted for use across the internet in many different digital domains. With this comes the issue of whether or not the coin can be used in stores.

Many critics have stated that bitcoin could not become a viable currency for use in say, Starbucks, mostly due to the transaction charges being quite high, but also due to the fact that the price is so incredibly volatile. If a business chose to use the currency in stores, that business would not be able to accurately price its items as the value of the currency changes so quickly.

With that said, the ease of use for cryptocurrencies is incredibly high. In addition, the potential for cross-border transactions is something that attracts many investors are those who wish to use the currency for day to day business.

Looking at the state of cryptocurrency right now, it is too volatile to be adopted into physical stores. Using the currency online is easy, because the liquidity is not an issue as most online retailers have a desire to hold on to the currency. With classic brick-and-mortar stores, the owners do not typically have time to deal with the liquidity and transfer into fiat currency that bitcoin takes. The hopes are high that the high amount of volatility can taper down so that the currency can become a staple of the world economy and reach its full potential.

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