Latest news with #paymentmethod
Yahoo
3 days ago
- Business
- Yahoo
The Crypto Payment Paradox: Why Nobody's Actually Buying Coffee With Bitcoin In 2025
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Despite years of 'crypto is the future of money' rhetoric, a candid discussion among cryptocurrency enthusiasts on Reddit reveals the stark reality: most people still aren't spending their digital assets like traditional currency. While the infrastructure exists to buy everything from burritos to luxury cars with crypto, fundamental barriers continue to prevent mainstream adoption as a payment method. The Infrastructure Is There—But Is Anyone Using It? The good news for crypto believers is that spending options have expanded dramatically. Major retailers including Whole Foods, Starbucks (NASDAQ:SBUX), Home Depot (NYSE:HD), Microsoft Corporation (NASDAQ:MSFT), and luxury brands like Gucci now accept crypto payments through processors like Flexa and BitPay. Crypto debit cards from Coinbase Global Inc. (NASDAQ:COIN), and other exchanges allow users to spend digital assets 'as easy as a tap' at millions of merchants worldwide. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Gift card platforms have become particularly popular bridges, enabling crypto holders to purchase everything from groceries to flights. Some users report successfully buying houses and cars after converting crypto to cash, while others highlight El Salvador as a rare example where Bitcoin functions as preferred everyday currency. The Dirty Secret: It's Not Really 'Crypto Commerce' Here's where the narrative gets complicated. Most crypto spending today doesn't involve true peer-to-peer digital currency transactions. Instead, crypto cards and payment processors typically convert digital assets to fiat currency instantaneously at the point of sale. Critics argue on Reddit that this is simply 'adding a crypto backend on top of the fiat system' for marketing purposes rather than genuine blockchain-based commerce. This technical distinction matters because it means merchants still receive traditional dollars, not cryptocurrency. The infrastructure resembles a complex currency exchange service more than the revolutionary payment system originally envisioned by Bitcoin's creators. Trending: If there was a new fund backed by Jeff Bezos offering a ? Three Major Barriers Killing Crypto Adoption Tax Complexity Remains King Every crypto transaction triggers a taxable event for capital gains purposes in most jurisdictions. Buying a coffee with Bitcoin means calculating and reporting the gain or loss on that specific portion of your holdings. This accounting nightmare encourages people to make lump-sum conversions to fiat rather than frequent small purchases. The 'Digital Gold' Mentality Many crypto holders view their assets as stores of value rather than spending money. Following Gresham's Law—that people spend 'bad money' and save 'good money'—investors prefer to spend depreciating dollars while hoarding appreciating Bitcoin. This psychological shift from currency to investment vehicle fundamentally changes user behavior. Volatility and Fees Still Bite While transaction costs have decreased, payment processors still charge 1%-2% fees comparable to credit cards. More importantly, Bitcoin's price volatility makes merchants hesitant to accept direct crypto payments due to settlement Stablecoin Exception Interestingly, stablecoins like USDC and USDT face fewer adoption barriers since they maintain dollar parity. Some users report successfully using stablecoins for international transfers and online purchases, suggesting these assets may represent crypto's true payment future rather than volatile tokens. Reality Check: Investment Asset, Not Daily Currency The honest assessment from the crypto community itself is telling: most view cryptocurrency primarily as 'an asset to invest in at this point,' not revolutionary payment technology. While enthusiasts predict mass adoption within 5-10 years, practical users recommend simply selling crypto for dollars when purchases are needed. This doesn't diminish crypto's value as a financial innovation—it just acknowledges that digital gold and everyday spending money serve different purposes in modern portfolios. Read Next: Kevin O'Leary Says Real Estate's Been a Smart Bet for 200 Years — Image: Shutterstock This article The Crypto Payment Paradox: Why Nobody's Actually Buying Coffee With Bitcoin In 2025 originally appeared on
Android Authority
22-05-2025
- Business
- Android Authority
Google Play just opened Pandora's box: You can now bug your friends to pay for you
Edgar Cervantes / Android Authority TL;DR Google is expanding its 'Ask someone to pay' feature for the Play Store. Users in the US, Japan, Mexico, and Indonesia will now have access to the feature. This option allows you to ask someone outside of your Google family group to pay for a transaction. Google I/O has been chock-full of announcements, ranging from Android Auto to Wear OS and everything in between. While a majority of the reveals have been AI-related, there has been plenty of news that's not related to AI. One such announcement shares that a new payment method is coming to the Google Play Store. Google's marketplace offers a variety of ways to pay for an app or an in-app item, whether it's through PayPal, credit card, a code redemption, or some other method. Last year, it introduced a new way to pay that lets you hand over the bill to someone else. At the time of rollout, this payment method was only available in India. But now, it's expanding to more markets. The payment method I'm talking about here is called 'Ask someone else to pay.' This feature appears as a button during checkout. If you tap on the button, it will generate a payment link you can send to someone outside of your Google family group. The user is then warned that whoever's paying has to know their full email address, they can also see the item that's being purchased, and that the payer has 24 hours before the payment link expires. Google has announced that Ask someone else to pay is now rolling out to four additional countries. These regions include the US, Japan, Mexico, and Indonesia. Such a Play Store feature could come in handy if you want to give a friend a gift. However, it could also quickly become annoying, as it could easily be used to beg someone to pay for something. Got a tip? Talk to us! Email our staff at Email our staff at news@ . You can stay anonymous or get credit for the info, it's your choice.
