The cryptocurrency world is amazed at the power at how they are evolving towards becoming an entity that drives the payment networks. Previously, Bitcoin used to be the sole cryptocurrency that became such popular as a cryptocurrency, but after a while, there have been clusters of cryptocurrencies and tokens that, with their unique vision, is marching forward the crypto world. There has been widespread adoption rate when it comes to cryptocurrencies partnering with large organizations or with other integrations.
Bitcoin has been known for a long time as a great payments network and has been accepted as a payment network with lightning network dominating the entire crypto space, wherein millions of transactions can be processed in seconds, which is much faster than the conventional visa or master card. Even there are no chargebacks or payment reversal as compared to the conventional methods. Companies like Microsoft, Expedia, overstock.com and many more are already accepting Bitcoin as payment options.
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Ethereum network uses Plasma, wherein the payments are made using the same cryptography for safe transactions, but aren’t broadcasted to the main network when the transaction is done. The Raiden project of Ethereum centers on taking the payment “offchain”, which means the transactions doesn’t need to be confirmed and processed by the blockchain. There are many organizations that are already using Ethereum as payments like Overstock, PizzaForCoin, FlokerNet and many more.
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BNB enables the user to pay off the merchant fees. The exchange pays “exchange tax” and the commission will not be withdrawn from the coins you are trading. In the near future, you might even get a good discount, when you pay commission with the native token. Monaco is a blockchain platform, which supports the BNB tokens for the Visa Monaco payment cards and mobile applications. Because of BNB mainnet release, there has been more demand and its acceptance ratio is increasing drastically.
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TrueUSD (TUSD) is a stable coin, which can be used as mainstream commerce. You can now pay a salary or buy a coffee or take out a loan, which enables the new economy of cryptocurrency financial applications. CoinGate, which is one of the best cryptocurrency payment gateway, accepts TUSD to receive customer payments and the payouts are given in USDT, Bitcoin, US Dollar or Euros. TUSD has great prospects for its future, now that its almost taking Tether’s place after the controversy with USDT.
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Paxos is getting accepted as a payment system, where thePax holders can transact with merchants, transfer funds and even convert currencies. Even Asian customers can use PAX to transact by using the wallet app of crypto.com. With Bidali, you can even use PAX for getting prepaid gifts that can be used to purchase products from some of the world’s best brands. Paxos is partnered with Bleumi which accepts cryptocurrency payments around the world easily. Pax usage in payment services is increasing day by day and can turn out to be one of the best in this case.
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The number of merchants accepting payments in DASH has increased from 700 to 4200, which is 6 times more since 2018. It has increased the number of locations since that time period. Turkey was one of the locations that Dash reached across to and proved to be a huge growth opportunity for Dash. Dash roadmap is full of developments revolving around the payment systems.
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CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!