Cryptocurrency as payment? | What about #Steem Virtual/physical Card? | Paycent.com

Hello Steemians,

Today I am gonna share my cryptocurrency story as well as my ideas on how we can use cryptocurrencies as a medium of payment in our businesses.

Challenge 1: My favourite Cryptocurrency, how can we get businesses to accept it as payment?

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The global economy is essentially moving towards a digital eco-system. Everything is now getting paperless. Newest and most addition to this is Cryptocurrencies. Cryptocurrencies as a medium of exchange like other currencies such as USD, but to exchange digital information.

Several cryptocurrency exchanges started operating in India between 2014 and 2017 providing much-needed depth and volume to the Indian cryptocurrency market. This was also the peak time of the crypto world. I did not know much about cryptocurrency at the time because I was a school going student then.

When did you learn about cryptocurrency and how long have you held it

I got to know about cryptocurrencies back in 2017-18, and first and foremost BITCOIN. But I never had any investment in it. After that, my friend introduced me to Steemit world in August 2020. So I started writing on steemit to a view of earn.

But later on, I learnt about curation reward and other benefits of holding of steem power. So, I decided to stake my steem power as much as I can.

What makes you like the cryptocurrency most and how do you use it?

As I said I started my journey in the crypto world in August 2020. So as per my understanding, steem is ease to understand cryptocurrency. The functions of steem are very easily understandable through Steemit wallet. And it's not even that hard to earn steem. All you need to do is create valuable content for steemit.

Which platform you like to trade cryptocurrency?

I never traded cryptocurrencies as of now but I have heard about Binance.com to buy or sell cryptocurrencies. To try this out I once created an account on it and learned a bit about this website.

How can we get businesses to accept cryptocurrency as payment?

I am working on ideas for using crypto as payment in mass adoption. Although, It's good when individuals paid crypto for exchange of some goods/services but it will not make much effect on the market unless transactions made in bulk.

A few days ago I posted my suggestion based upon my understanding about coinpayment.net. But I realised that this option is limited to only the area of online payments with cryptocurrencies.

So I continue my search for a better option of payment via cryptocurrencies. While researching I do realise that virtual payment process could be a better option of payment via cryptocurrencies. Especially if you ask about steemit then there is no such function as of now. I continued my search and got to know that 5 months ago @stephenkendal come up with a post with such a great idea of developing Steem Debit Cards.

I also got to know about 10 months ago @steem-marketing announced the integration of STEEM with Paycent.com in their post. I checked Paycent to gathered more information about this and got to know that Steem option is temporarily unavailable on that site. Also, the cost of a physical card is so high on paycent.com.

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My main concentration is on "how we can use Steem as payment in Businesses?" As I said I deal only with Steem and SBD so I would love to shed light on developing more options in Steem itself.

So let's talk about how virtual cards can help Steem to grow.

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Virtual Card

^{Source- Pixabay}

Virtual credit cards are one of the more flexible electronic payment methods, and the world continues its steady march toward greater digital payment use. These 16-digit credit card numbers are easy to use, convenient and speed they provide are allowing them to take hold in the B2B payments space. This can benefit both buyers and suppliers by streamlining day-to-day payments and providing greater control over cash flows. They are also safer against fraud than traditional business credit cards.

Virtual Card Benifits

^Pixabay

• One of the obvious benefits of the virtual credit card is pretty clear — it's virtual — and, therefore, it's highly secure.
• Facilitates cashless transactions.
• Widely accepted.
• Helps to pay the exact amount.
• Easy and convenient to use.
• Saves time & energy.
• Helps you to pay utility bills, book ticket etc.

Steem Virtual Card

With the help of virtual card, the usage of Steem will increase in the crypto market as everyone knows how to operate virtual cards and most of the businesses accept these cards.

Virtual Cards enable users to convert digital currencies into local currencies for use online with real-time accessibility. It would be a great addition into steemit

Steem Physical Card

The physical debit card is the next step for the community after the soft launch of the Virtual card. I am pretty sure that everyone does use the physical card in the era of technology. The physical card can be used to buy anything from the offline market, withdrawn from ATM and even it will help to buy steem using their unique 16 digits if the card is directly linked to Steem wallet.

Paycent.com

Paycent’s operator, Singapore-based company Texcent Asia, issues three types of cards, you can check details of those 3 cards on their website's homepage. Paycent is covering one of the few crypto debit cards with global coverage. This website is similar to cryptopay.me which is currently available for clients in the U.K., Europe and Russia. In Paycent it comes as both physical and virtual cards and is delivered for $49.

Paycent integrates Steem

^{Source- @Steem-marketing}

I came across a 10-month-old article on Steemit by @steem.marketing, where they posted the integration of Steam with Paycent.com, but the Steam option is still unavailable.

I would be happy if Steem launch it's own card or maybe if they integrate with some third party for these cards.

As per my opinion, cryptocurrencies, especially Steem will get a boost if we somehow increase its involvement in the market. Coinpayment and Paycent are my suggestions but I know there are many genii, who know crypto much better then I and they are doing, what is good for steem.

Thank you,

E&OE

Cc:-
@steemitblog,
@steemcurator01,
@steemcurator02,

Payout of this post is set to 100% Power-Up.