Getting businesses to accept cryptocurrencies has not been easy. This is especially true when dealing with brick-and-mortar locations. Bitcoin and altcoin payments remain confusing and difficult to understand. One local gym in Cincinnati started to accept Bitcoin, Litecoin, and Ethereum. That is quite an interesting turn of events, to say the least.
One would not necessarily expect gyms to accept cryptocurrency payments. Then again, it also makes sense, in an odd way. As one Reddit user points out, going to the gym is all about making gains. Cryptocurrency is also about making gains. Combining the two into one offering can yield some very surprising results. Cryptocurrency payments may help some people get more motivated. It is unclear if this makes any mental difference whatsoever, but it is still interesting to note.
Litecoin Accepted at the Gym
One would find it normal for such businesses to accept Bitcoin payments. The leading cryptocurrency can be accepted in a convenient way, even by brick-and-mortar locations. Dealing with Litecoin payments is not overly difficult either these days. Quite a few merchant service providers enabled Litecoin support a while ago. Ethereum is a bit of a hit-and-miss, to say the least, but it’s a solid choice, all things considered.
Of those three payment methods, Litecoin makes the most sense though. More specifically, it has faster confirmation times and lower fees. That alone makes it more suitable than Bitcoin right now, despite BTC’s appeal. Ethereum for payments is always strange, as it does not seem to lend itself to becoming a payment vehicle anytime soon. Then again, now is the time to experiment with cryptocurrency payment solutions, that much is evident. It will be quite interesting to see how this news affects the price of all supported currencies.
It also appears the gym in question uses Coinbase for their payment solution integration. Accepting all three currencies supported by the platform makes sense in this regard. Litecoin still has the best chance of making an impact out of those three, though. Whether or not any of these payment methods will be popular in the long run, remains to be seen. It is good to see local gyms experiment with cryptocurrency, though.
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