Cryptocurrency Q&A
Why did stripe stop accepting bitcoin payments?
Why did stripe stop accepting bitcoin payments?
CryptoElite
Thu Jul 18 2024
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6 answers
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With the recent news that Stripe has halted support for Bitcoin payments, it begs the question: Why did they make such a move? Could it be due to the volatile nature of cryptocurrencies, making it difficult for merchants to predict and plan for future cash flows? Or perhaps it's the increasing transaction fees, eating into profits? Was there a security concern, given the numerous hacks and scams that have plagued the crypto world? Whatever the reason, it's certain that this decision will have ripple effects across the digital currency landscape, leaving many to wonder what the future holds for Bitcoin and other cryptocurrencies in the realm of mainstream payments.
6 answers
Skywalker
Sat Jul 20 2024
One of the main concerns raised was the increase in transaction confirmation times.
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Tommaso
Sat Jul 20 2024
In January 2018, Stripe made a significant announcement regarding Bitcoin payments.
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KatanaGlory
Sat Jul 20 2024
As these times rose, Stripe noted that it led to a higher rate of failed transactions.
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Giuseppe
Sat Jul 20 2024
Furthermore, the company pointed out that Bitcoin fees had grown substantially, further diminishing its appeal as a payment method.
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HanbokGlamourQueen
Sat Jul 20 2024
They stated that by April of that year, they would be ceasing support for Bitcoin payments.
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