Now That Bitcoin ‘is Digital Gold,’ Which Crypto is For Payments?

At the same time, the much-hyped Lightning Network is still a long way from being deployed as a fully workable scaling solution. And as Glen Goodman, the author of The Crypto Trader, tells Cryptonews.com, this could hurt Bitcoin’s usefulness as a means of payment.

“A crypto for everyday payments needs to be massively scalable, allowing thousands of payments per second,” he says. “It must be simple to use and allow fast, cheap, secure payments with protection against fraud.”

Arguably, Bitcoin doesn’t quite fit this bill at the moment, with other cryptocurrencies demonstrating greater scalability, speed and cost-effectiveness. For instance, XRP, Dash and Bitcoin Cash all currently provide faster throughput.