Paying for groceries in crypto is soon possible

Until now reserved for NFT purchases and speculation, cryptocurrencies could soon benefit from an incursion on e-commerce platforms.

It was during the annual Bitcoin 2022 conference that the Nium payment platform presented what could be the future of cryptocurrencies. Until now reserved for speculation, or for the purchase of NFTs, these non-fungible tokens that symbolize art 3.0, non-fiat currencies could soon be accepted to settle a purchase on an e-commerce platform.

The idea is obviously not new, since El Salvador has already accepted bitcoin as its official currency, and crypto now makes it possible to pay for everyday purchases. However, its global deployment could mark a small revolution in the use of digital currencies. baptized Crypto Acceptthe service offered by Nium would simply aim to provide banks and companies with the tools to accept crypto payments, first in bitcoin and ethereum, then in other currencies from 2023. Objective: to allow n any online store to accept payments in non-fiat currencies.

An argument of size (and timing)

With their price volatility, cryptocurrencies are obviously a risky bet for traders. To remedy this problem, Nium has indicated that the conversion into dollars or another official currency will be validated by the payment platform from the business day following the transaction. What to avoid a potential collapse of bitcoin between the time of payment, and the receipt of funds by the merchant. Convinced that “Consumers hold over $3 billion in cryptocurrency and are looking for ways to spend that money online”the company will still face many obstacles to impose crypto on the daily market.

DISCLAIMER: This article does not constitute investment advice. Investing in cryptocurrencies involves risks, you have to be aware of this before investing your money. The information in this article is provided for informational purposes. Le journal du geek declines all responsibility for any financial loss caused by the use of the information provided in its articles.

Leave a Comment