Transaction fees are high and many businesses bitcoin and because it does not accept crypto assets as a payment method cryptocurrencies It is not used very often for daily shopping. However, this is slowly changing, according to a report by Morgan Stanley.
“Multiple Stores and Restaurants May Accept Bitcoin Soon”
The banking giant said payments company Strike recently partnered with point-of-sale supplier NCR and payments company Blackhawk Network. According to the bank, this could mean that many shops and restaurants in the US will soon accept Bitcoin. It is known that in the system planned by Strike, the Lightning Network will be used to carry out transactions.
In a statement, Morgan Stanley stated that 85% of sales in the US take place in physical stores rather than online stores, saying that physical stores are an important element for the evolution of Bitcoin as a payment tool.
The cost of sending BTC over the Lightning Network is close to zero. This is why Morgan Stanley stated that it would be more practical to make small transactions that are normally done using a debit card over this network.
“As Businesses Accept BTC, Volatility Will Decrease”
As it is known, the fluctuating prices of products sold with BTC also reduced the use of digital assets. In its statement, Morgan Stanley stated that the volatility of the BTC price may also decrease after businesses accept crypto money through crypto cards or existing payment terminals.
The bank report also reminded that cryptocurrencies are already widely used as a payment method, especially for NFT sales. According to Morgan Stanley metaverse With the increase in the number of brands that want to advertise on the Internet, there may be a need for a wider choice of payment methods, including crypto money.
*Not investment advice.