Fizz and Cryptocurrency: Who Else Wants It?
I’ve been using Fizz for just over a month now, and I love how they let us pay with prepaid cards for extra privacy and flexibility. But I’m curious—who else would like to see cryptocurrency as a payment option in the future? With the rise of digital currencies, it could offer more flexibility and privacy. What do you think? Should Fizz consider it?
Comments
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Yes it could be nice to have it as an option! Crypto currency is here to stay so why not!
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Hi @Ciroxa
I personally believe that we should be able to know how is the owner of a determined mobile number, to limit its use for unlawful purposes .
However, it can also presents challenges, such as regulatory compliance, volatility, and the need for robust security measures.
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The cryptocurrency prices are volatile currently for the normal company to accept it.
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I see your point—knowing the owner of a mobile number could help prevent misuse. However, as you mentioned, it brings challenges like privacy issues, compliance, and security risks. Balancing safety with privacy is definitely tricky.
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Exactly! Cryptocurrency is definitely here to stay, and offering it as an option would be a great way to stay ahead. It would give more flexibility and cater to a growing trend.
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You're right that the volatility is a risk, but companies could also benefit from it when prices go up. If they hire the right team with expertise in crypto, they can mitigate the risks when the price goes down, using strategies like hedging or diversifying. It’s all about managing the volatility effectively, and with the right approach, it could be a win-win!
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Also the transaction cost is high.
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Not really. Many cryptocurrency networks have transaction costs that are much lower compared to Visa and MasterCard
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It would be too problematic to support cryptocurrency.
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I say no because I don't like the concept of crypto in general. And it's terrible for the environment.
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Disadvantages of Cryptocurrencies:
- Volatility: Cryptocurrency prices can fluctuate significantly in a short period, leading to substantial financial losses.
- Security: While blockchain technology is secure, cryptocurrency exchange platforms can be vulnerable to hacking.
- Regulation: Cryptocurrencies are not yet widely regulated, which can pose compliance and legality issues.
- Environmental Impact: Mining certain cryptocurrencies, like Bitcoin, consumes a lot of energy and has a negative impact on the environment.
- Technical Complexity: Understanding and using cryptocurrencies can be complex for non-technical people.
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I would not use this payment method, I prefer the payment methods we already have
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Crypto used in many illicit transaction such as darknet market sales and ransomware extortion, so they will exist, but I feel like it is not for the daily life.
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Why's that?
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Crypto’s a wild ride! 🎢 Prices swing like crazy, exchanges can get hacked, and regulations are all over the place. 😬 Mining eats up power, and honestly, it’s like learning a new language for non-techies. But hey, the rewards can be worth it if you’re brave enough! 💰
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Crypto will stay but never be adopted as a mainstream currency.
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I agree with your view on crypto, too volatile !
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True, it can be a challenge, but with the right strategies, it could still be a game-changer for payments!
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