Bitcoin Accepted Here ! | Crypto Payment Methods

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According to Decrypt, Gucci is set to accept payments in cryptocurrencies. As expected, the major cryptocurrencies that are frequently used such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are once again seen as acceptable payment methods for purchases.

crypto payment methods accepted coins.png

What's interesting in the news is that Dogecoin and Shiba Inu tokens will also be used for payment methods. At that point, I question the reasons why these "community tokens" are preferred rather than APE Coin, an overhyped project nowadays, and/or popular smart chain projects like Avalanche, Solana, or BNB.

Mostly, Crypto Payment Methods are NOT Up-to-date

I hardly remember any brand, accepting crypto payments, can catch up with the trends in crypto. As far as I see, the acceptance of Dogecoin, Floki, or Shiba Inu types of community tokens are viewed as a good way of signing mass adoption.

The hype on these "dogs and cats" tokens is not as hot as before. However, they already reached millions of people to go viral for several years.

However, I feel like these tokens are already infertile in nature because their limited narrative can hardly be enough to stay in the Top coins. As they fade away on the first page, they will not be different from earlier top projects which are not even in the Top 300-500 anymore.

ape coin as a payment method.png

Huge Difference Between ApeCoin Types & Dog Coins

When ApeCoin was launched, I thought that it is not going to be a usable coin for real purposes. Yet, there are several stories backing up the projects.

🔰 Authentic & Wealthy Community
🔰 Hot and Desired NFTs (Sign of Community)
🔰 Mass Adoption & Popularity of Yuga Labs
🔰 DAO

Naturally, there are more reasons for community token lovers to be a part of these communities or invest in their tokens. Imagine owning similar digital assets with some celebrities like Justin Bieber, Steph Curry, Eminem, and more.

Old-School, Community Tokens & Top Coins

Of course, there will not be a focus on a single class of cryptocurrencies. However, it does not really satisfy people when they see there are cryptocurrencies that are hardly used; no longer popular or sustainable for regular crypto payments.

IMHO, seeing Litecoin as a payment method is as weird as Shiba INU for payments because low transaction fees cannot be an acceptable narrative for a cryptocurrency in 2022's harsh conditions. Also, I am doubtful about their presence as the initial coins are accepted by brands for mass adoption.

Ideally speaking, having smart contract projects such as Avalanche and Solana; keeping veteran coins like BCH, ETH, and BTC, and using Community tokens like Ape Coin can be a quite reasonable and balanced way of starting to accept crypto payments. By the way, Hive is one of the best fits for any type of branch from free transactions to community tokens like LEO or CTP. However, the brands do not have such a vision 🤷‍♂️

TL;DR

Gucci becomes one of the popular brands that is set to accept crypto payments. Similar to previous examples, the cryptocurrencies that are initially accepted are kind of obsolete and hilarious.

Considering previous experience, I believe brands want to get the attention of community tokens. However, it is questionable whether Shiba INU, Dogecoin etc are the best options for that. IMHO, community tokens need to have strong foundations like APE Coin. Also, initial coins accepted by companies should, at least, have a reasonable distribution.

Ideally, I think some veteran coins like ETH & BTC; a couple of smart contract projects like AVAX & SOL, and "strong" (?) community tokens like APE coin can be a reasonable distribution of initial cryptocurrencies being accepted. ✌

Though Hive is the best fit for all these purposes, I do not think they have such an intention and vision to embrace such a promising project 🤦‍♀️

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leofinance proofofbrain vyb ctp archon crypto neoxian cent payment apecoin
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28 comments
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Well...those cats and dogs tokens have a lot of holders, so from a marketing standpoint I probably understand why they’ll choose those ones over SOL, APE coin and co.
Maybe other brands would consider these after watching Gucci’s success rate.

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It is still quite experimental as you mentioned. I think, from the early phases, the initial coins accepted should have a neat list that would be useful and beneficial for the ecosystem. We really need to have good pioneers of our growing ecosystem 👍

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It would be awesome if more well-known companies or brands would follow Gucci's move and accept crypto payments too in the near future.

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Absolutely! Gucci is a perfect brand that can be accelerate crypto mass-adoption 👍🏽

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Let's hope they push through with it and perhaps, many others will get encouraged to do the same.

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thanks for sharing!
Have a great day.
!LOLZ
!PIZZA
!PGM
!CTP

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Ordinarily, I think that those first four coins you mentioned, I believe they are more and relatively stable than those dogs and cats tokens.. Hence, my view on why they are adopted more readily than those ones that have been hyped out of the race.

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I think it is okay to accept hype coins to some extent. Going with solid projects will be more beneficial for them in the long run ✌🏽

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That's true though. But you know, these companies are only concerned about what will show the highest profit or attention as it goes on.

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Good thing I do not like Gucci so I will get to keep my cryptocurrencies hehe 😉!

As much as I can sometimes criticize ApeCoin, it has a team/community and desirable products. It could still be there and building in the future.

Nice article

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(Edited)

Yeah Apecoin surprisingly adopts a vision that may be an example for other community tokens in the future. Though I am not up for Gucci either, I feel need for its marketing 😌

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Normally I would say that all that matters for cryptocurrency to be used as payment is that both parties of a TX are willing to accept it. In the case of Gucci, I would question the choice of DOGE as one of the altcoins accepted for payment purely from an image or branding standpoint. Had it been, say, Sharper Image, I think DOGE would be OK there. However, I have to remember that many celebrities and famous people own DOGE and patronize Gucci.

The only use case for an altcoin which matters in the end is its use as money to be used. As long as people are willing to accept it as payment for a product or service, that's all that really needs to take place. So altcoins need to be front-and-center in the effort to gain acceptance as money to be used (including HIVE and HBD).

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I am just gonna walk into the Gucci store in Vienna and say either you are taking my HBD or I will not purchase anything. Whats you Hive address? is there a @gucci ?
Just checked and there is they are not very good in putting their brand out there. No PfP and no banner.
!LOLZ
I have started a project called @hivebusiness where people can promote their local services to other HIVE members in their area. I hope it will find some traction.

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I am always happy to see crypto adoption taking place in brands that are known in the whole world, but as you mentioned, Hive should be one of the first options when considering payments thanks to its zero fees transaction system. I believe that with time, more business will realize the huge value that Hive can provide.

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Their interest is more in the number of users than the quality of the token. I also think it's a big move and a really risky one for a big brand like that to add crypto payments but it probably came as a result of demands. There's mass adoption of crypto among the elites these days.

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Integrating a cryptocurrency payment widget on your site is a smart move, especially as digital currencies continue to gain traction. When selecting a widget, it’s important to consider several factors to ensure that you're providing both a secure and convenient payment experience for your customers.

I recommend checking out Lunu's products, as they offer a range of cryptocurrency widgets that are designed to be both user-friendly and secure. Their widgets support multiple cryptocurrencies, which is ideal if you want to cater to a diverse customer base. You can find more information and specific details on their website under the products section.

The key features to look for in a cryptocurrency widget include:

Security: Ensure that the widget uses strong encryption to protect transaction details.
Ease of Integration: The widget should be easy to integrate with your current website setup. Lunu, for example, provides clear instructions and support for integration.
User Experience: Look for widgets that provide a seamless and quick transaction process.
Customer Support: Reliable customer support is crucial in case you or your customers face any issues during transactions.
Volatility Management: Some widgets offer features like instant conversion to fiat to protect against crypto price volatility.
Also, consider the fees associated with the widget and how they might affect your pricing strategy. It’s worth spending time exploring different options and possibly testing a few widgets to see which one fits best with your website’s design and functionality.

By integrating a well-chosen cryptocurrency widget, you can enhance your customer's shopping experience and position your business at the forefront of technological adoption in e-commerce

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