Deloitte starts testing how bitcoin payments can play out as a payments option for the employees of the company as per the reports by the Luxembourg Times which we are reading more today about in the altcoin news below.
As per the reports, Deloitte has launched a BitPay option for its employees but the BTC payments were available back in2017 in one of the offices in Canada. Months after the test run, the prices of the number one cryptocurrency started going wild and they even broke the records by the end of the year. One of the company’s representatives Laurent Collet stated:
“We think it’s good to have our employees assess this new technology.’’
Now since the BTC prices have stabilized again to the $10,000 region, the number one cryptocurrency offers a more predictable basis for calculating the price. Bitcoin is now exchanging for $10,221. Paying with your Bitcoins was a good idea in the early days of the network but now the analysts are seeing increased activity related to moving coins in and out from exchanges. Usually, the Bitcoin network will show high transaction loads when the price is rising and when it attempts to sell some coins. there is also some increased tendency for Hodling BTC. Bitcoin is one of the most liquid coins so it is exchangeable for currency as needed and preferred by merchants.
One Bitcoin transaction cost is currently at $0.51 unless the priority status is paid for. When the activity is higher, the transactions could cost a few more dollars which is not very suitable for micropayments. Paying with Bitcoin has obviously some major setbacks so now Deloitte starts testing how can they improve the disadvantages.
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The test of Deloitte will be in-house and on a small scale but globally paying with your Bitcoins is no longer simple. Almost every major exchange has established a KYC procedure and limits the amounts to be paid globally.
Deloitte is not a stranger of blockchain and crptocurrencies. The company has been exploring the crypto space for years and the risks of various projects. The company has already formed a blockchain team and opened multiple research centers around the world as we found out in the latest cryptocurrency news.
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