Coinbase Commerce Passes $200 million in overall transactions, is crypto the way forward?

• Coinbase Commerce has just recently revealed that it has passed $200 million in total transactions processed over its history of two years. 
• For those that don’t know, the platform supports payments in cryptocurrency for Internet retailers.

Coinbase Commerce has just recently revealed that it has passed $200 million in total transactions processed over its history of two years. For those that don’t know, the platform supports payments in cryptocurrency for Internet retailers.

As the sister arm of one of the biggest cryptocurrency platforms in the United States, the platform reported at the end of last week on the 26th of March that the success was due in part to the 8000 retailers currently using coinbase for payment services.

As the pandemic of the coronavirus spreads throughout the world and has had significant impacts on the traditional markets, the news from the platform would suggest that there are many consumers who are still happy using BTC to pay for their products.

The product lead at the platform, John Zettler said that bitcoin was the preferred method among many digital assets offered as methods for payments on the platform. He said the following:

“Merchant customers often tell us it's the crypto they're most familiar with and the one they trust the most.”

With price movements being unpredictable and extremely volatile at the moment, it can make it difficult for retailers to accept digital assets such as bitcoin. Despite this, with the numbers from coinbase commerce, it looks like retailers are getting on the blockchain and crypto bandwagon.

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!