Cryptocurrency enthusiasts would like nothing more than seeing major retailers accept Bitcoin payments directly. Albeit there is no additional hardware cost for brands to do so, they will need to train staff members to complete transactions. A new petition has surfaced on Change.org to have Walmart accept Bitcoin payments moving forward.
Walmart and Bitcoin Is An Interesting Combination
One of the most often heard complaints about Bitcoin is how consumers struggle to spend cryptocurrency on everyday purchases. Grocery shopping, for example, is next to impossible with Bitcoin these days. Although there are intermediate services available, such as Gyft or a Bitcoin debit card, the experience is not the same.
Several people have come together and created a petition. The primary objective of this Change.org petition is to get Walmart to accept Bitcoin payments directly. This initiative comes at an opportune time, though, as the store chain is dropping Visa as a payment method due to the high fees associated with this payment method.
While there may be an argument to be made as to how Bitcoin is cheaper and equally is convenient, it is doubtful Walmart would accept cryptocurrency payments. Unlike Visa, Bitcoin has little traction, as there is no real reason for consumers to get involved in cryptocurrency. At the same time, if a brand like Walmart were to accept Bitcoin, it could boost the adoption rate of cryptocurrency in the US and Canada.
Moreover, the Bitcoin market cap has been increasing over the past few weeks. In fact, Bitcoin’s market cap is larger than the total valuation of Western Union or Twitter, making it impossible to ignore this alternative form of payment. Plus, Walmart has nothing to lose by accepting Bitcoin payments, even if very few people would use it to pay.
So far, the petition has 39 signatures out of the one hundred needed. Once this threshold has been reached, it remains to be seen what happens to this Change.org petition. Initiatives like these are a great way to bring more positive attention to Bitcoin in general, though.
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