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18dPay and dump? How businesses accepting crypto payments influence adoption
tradingview.com
Cryptocurrency enthusiasts believe that businesses should accept crypto as a form of payment in order to promote widespread adoption and increase the usefulness of cryptocurrencies. They argue that if businesses start accepting crypto, it could create a strong demand for these digital currencies.
Some crypto communities are actively working towards increasing business adoption and have created maps that list businesses worldwide that accept various cryptocurrencies. However, there is a concern that if businesses accept cryptocurrency payments only to immediately sell them on the market, it could undermine the overall goal of promoting adoption.
Additionally, when businesses accept cryptocurrency payments through third-party processors, they are not fully adhering to the principles of cryptocurrencies, which emphasize managing private keys and having full control over wallets.
Despite these concerns, proponents of accepting cryptocurrency payments argue that it still has value as it opens up new opportunities for consumers to use cryptocurrencies for transactions. This use case has been eagerly awaited by the crypto community.
#crypto
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