Bitcoin can now be used to buy things using the Lightning Network on the online retail giant, Amazon.
Anyone wanting to buy things with bitcoin can now use the lightning network to shop on Amazon.
The crypto payment processing company "Moon" announced today that lightning-enabled wallets can now be used through Moon's browser extension.
The CEO of Moon, Ken Kruger had this to say on how it works:
“The extension will pop up a QR code and it will have the lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason, and you’ll be able to pay with your favorite lightning wallet.”
(Source: https://www.coindesk.com/you-can-now-shop-with-bitcoin-on-amazon-using-lightning)
This is very big news.
Amazon doesn't have to worry about the volatility associated with accepting bitcoin because they won't actually custody any bitcoin.
Instead, the payment processor will immediately convert the bitcoin to USD.
That means that it won't operate any different for merchants than it does currently.
Any example of what it looks like:
(Source: https://www.coindesk.com/you-can-now-shop-with-bitcoin-on-amazon-using-lightning)
But wait, there's more!
What's even more interesting is that according to Kruger, by 2020 this feature will work on almost any e-commerce site.
Wow!
That is when the floodgates will really open for payments.
The verdict is still out on whether people actually want to use bitcoin for payments but this at least provides users with that option.
It's a step in the right direction.
Stay informed my friends.
-Doc
hmmmm I only really have STEEM.
and not very much of that.
well, any good news is welcomed :)
Not a good day to be an altcoin holder.
A crypto discount would be nice ;)
Yes it sure would. Don't think we will get that though.
👍😁👍
Will you be buying things with bitcoin?
That’s a very good news!
Signal of market recovery indeed
Posted using Partiko iOS
It doesn't hurt, that is for sure.
I think the future of crypto payments will happen with some stablecoin.
Posted using Partiko Android
That seems to be the more likely scenario.
Waiting till Amazon implements this, this is merely a work-around using a middleman, and a browser extension, and the extension is even not approved by Google.
It's expected to be approved for Chrome on Wednesday.
Small steps towards adoption via interfaces will be the key! Great news!
Posted using Partiko iOS
Yep, step by step adoption is increasing.
It is a very good news.
This opportunity to buy on Amazon with BTC will convince more reluctant crypto non users to consider education about cryptocurrency and possession of some Satoshi for the future.
That is the hope!
This is certainly good news, but unfortunately using bitcoin in the US will continue to be a nightmare as long as each purchase is treated as a taxable event :(
Agree 100%. There is a bill in limbo that would exempt purchases under $600.
That would be awesome!
Yes it would. Though I think we need more than that. Should be all purchases under $2k or something even bigger.
"if you can’t use the QR code for some reason"
Or if you don't even know what a QR code is? :D
Yes, that would be an issue as well.
I've looked it up now, obviously, but yeah. Some people simply don't use that technology :)
Correct, and this is merely a browser extension. Not something that Amazon itself is launching.
Now that's a super cool integration of Bitcoin with amazon :D
Yep.
Great news, thank you for the update.
Bluehorseshoe loves Amazon!
Now this is some news! I love finding out more news about crypto adoption. Thanks!
It's a step in the right direction for sure.