Ask HN: What crypto do you use for a consumer facing app? Is Ethereum OK?

#1

Post by mmdoda » Mon, Oct 04, 2021, 8:15 PM UTC

I know that HN is skeptical towards cryptocurrencies, but I'm sure some of you have experience with it.

I want to take payments in crypto on my app. The requirements are as follows: - Low fees - Very popular - High number of transactions - High transaction volume

I am no crypto expert by no means. A friend of mine suggested Ethereum. Is that the only reasonable choice?

Re: Ask HN: What crypto do you use for a consumer facing app? Is Ethereum OK?

#2

Post by jstx1 » Mon, Oct 04, 2021, 11:37 PM UTC

Bitcoin and Ethereum are obviously the two most popular but their fees are often high. Some of the more useable cryptocurrencies for transactions are Nano, Bitcoin Cash and Monero.

Those are just some examples - my point is that what’s popular and what’s a good technical choice are two different things.

If you’re integrating this into an app, include at least a couple of different cryptocurrencies.

Re: Ask HN: What crypto do you use for a consumer facing app? Is Ethereum OK?

#3

Post by yuxt » Tue, Oct 05, 2021, 1:33 AM UTC

Look into stablecoins or layer 2

Re: Ask HN: What crypto do you use for a consumer facing app? Is Ethereum OK?

#4

Post by joshxyz » Tue, Oct 05, 2021, 3:03 AM UTC

You're missing something: sensible transaction speed and ease of currency conversion from usd.

Stablecoins like USDT fits this.

Re: Ask HN: What crypto do you use for a consumer facing app? Is Ethereum OK?

#5

Post by pwncake » Tue, Oct 05, 2021, 3:28 AM UTC

Use something like Coinbase Commerce and abstract away the need to choose one and just build on top of it

https://commerce.coinbase.com/

Re: Ask HN: What crypto do you use for a consumer facing app? Is Ethereum OK?

#6

Post by k__ » Tue, Oct 05, 2021, 11:26 AM UTC

Ethereum is the safest bet right now.

Look into Arbitrum, it operates on the Ethereum chain, but has better performance and much lower fees.