Truth or myth: Crypto is too slow to use in daily shopping?
The aim of cryptocurrencies is to transform the way we pay, send and receive funds worldwide. The ‘traditional’ channels such as banks are costly and sometimes not available; in commerce, credit cards are very often used, but also bring high fees for the merchant. Crypto can offer advantages where these methods fall short, but the crypto adoption rate is still quite slow on the merchant side.
Why do not more merchants decide to accept crypto? While the use of crypto is growing at online shops, one of the most problematic things at brick-and-mortar shops and services is the payment speed. Crypto (especially Bitcoin) requires a great amount of transaction confirmation time, and waiting around for twenty, ten or even two minutes for a payment confirmation is definitely unacceptable both for merchants and their customers.
The Elipay system was created to make cryptocurrencies a part of everyday life and shopping, and is now accepted at more than 370 (mostly brick-and-mortar) locations internationally. It enables merchants to accept instant payments in four different cryptocurrencies (Bitcoin, Bitcoin Cash, Ether and the ELI token), in which the merchant can receive the settlement in their local currency. The transaction at the cashier is faster than with credit cards, which makes this kind of service very attractive for the customer. The best thing, however, is that the merchant fees for using Elipay are considerably lower than those of credit cards.
Elipay locations also accept the Bitcoin.com Wallet, with 4 million users worldwide, including the crypto enthusiasts and tourists in your area! This wallet enables the use of Bitcoin Cash, one of the cryptocurrencies known for the fastest transactions.
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