Financial industry players are becoming more open to the possibility that crypto payments will be around for the long-term. Favorable cryptocurrency regulations are being developed in most countries. The U.K. is the best indicator of cryptocurrency’s growing acceptance as a legitimate payment method.
Recent data from the UK shows that cryptocurrencies can be used alongside traditional payment systems. According to research by the International Association of Money Transfer Networks, (IAMTN), the potential of blockchain technology and cryptocurrency lies in their ability remove the middleman and facilitate instant payment.
Research also revealed that most business leaders believe that cryptocurrency offers endless opportunities, particularly in cross-border payments.
These positive crypto findings indicate that the market is gaining momentum for the most popular payment cryptocurrencies. The most successful at making such payments will see the greatest future gains.
Many cryptocurrencies are among the 100 most valuable cryptocurrencies in terms of market capital.
Let’s take a look at the ones with the highest growth potential.
Litecoin (LTC), has been around for a while. Litecoin (LTC) has been around for a while. While it did not outperform the market during the bull run of 2021, its potential as a payment crypto currency is still one of the best. Litecoin uses a similar consensus system to Bitcoin. This makes it one of the most secure, decentralized cryptocurrencies. This is a positive, as crypto payments can’t be censored.
Litecoin transactions cannot be censored and are much cheaper than Bitcoin. It is a good option for cross-border payments. Litecoin is one of the cryptocurrencies that could be successful now that regulators and the finance industry have accepted crypto as an equal participant in cross-border payments.
Stellar (XLM), another cryptocurrency, is a leader in the cryptocurrency payments industry. Stellar was created for cross-border payments markets, much like XRP. Stellar’s low fees and speed have been well-received over the years.
Additionally, Stellar payments are able to include KYC. This not only reduces regulatory risks but also gives Stellar credibility and allows cross-border payments to be made. It is aware of current-day issues such as money laundering and terrorism financing. This is likely to increase XLM adoption, which could be a positive factor in XLM’s value.
Bitcoin Cash (BCH).
Bitcoin Cash (BCH), which is similar to Litecoin has a similar consensus mechanism as Bitcoin. This allows it to have a level of security and decentralization that is unmatched by other cryptocurrencies. Bitcoin Cash transactions are faster and cheaper than Bitcoin. This is why BCH adoption has grown in popularity over the past few years. BCH’s future is bright as crypto payment acceptance increases adoption.