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Why businesses should embrace eth payments for growth

Businesses Eyeing ETH Payments | What's Stirring?

By

Vitalik Buterin

Oct 15, 2025, 12:56 PM

Edited By

Liam Chen

2 minutes of duration

A digital representation of Ethereum payments with a focus on transaction speed and low costs for businesses
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In a recent Twitter poll, Steak 'n Shake stirred the pot by asking its followers if they should accept Ethereum (ETH) payments. The chain later suspended the poll, revealing their allegiance to Bitcoin. This raises questions about the future of payment methods in the restaurant industry.

A Shift Towards Change

The quick move from Steak 'n Shake suggests a growing interest in crypto across various sectors. Even if the restaurant dismissed ETH in favor of Bitcoin, asking the question reflects the industry's shifting landscape toward digital payment options.

Ethereum champions a decentralized, programmable economy. "Payments settle in seconds," a supporter claimed. With Ethereum's network, businesses can potentially lower transaction costs, avoid chargebacks, and tap into a global market.

Community Reactions

Responses from online forums reveal varying opinions on accepting ETH:

  1. Stablecoin Preference: Some argue that businesses should stick to stablecoins on the Ethereum blockchain to simplify accounting and reduce tax complexity. One commenter pointed out, "Receiving ETH creates accounting work as the business has to report and pay taxes in fiat."

  2. Volatility Concerns: Concerns about Ethereum's volatile prices raised eyebrows. A frequent poster remarked, "Prices fluctuate wildlyโ€”how can tax systems cope with that?"

  3. Payment Fees: Users highlight potential banking fees tied to traditional payment systems. Eager for less expense, a participant suggested, "Businesses could avoid a lot of banking fees if they supported cryptocurrency payment options."

Why This Matters

As businesses consider adding Ethereum payments, many are motivated by numerous advantages:

  • Speed: Transactions complete in seconds.

  • Costs: Lower fees due to Layer 2 solutions.

  • Global Reach: Attracts customers worldwide.

The Path Ahead

The conversation around ETH payments signals a turning point. Businesses reluctant to adapt may miss out on future opportunities. Accepting ETH isnโ€™t just about facilitating transactions; it's about entering a forward-thinking financial landscape. Interest in digital currencies continues to grow, and the question remainsโ€”will more businesses embrace this shift or stick with tradition?

๐Ÿ’ฌ "Curiously, businesses that start embracing Ethereum today are stepping into the future of money."

Key Insights

  • ๐Ÿ”ธ User boards showcase mixed feelings about ETH payments

  • ๐Ÿ”น Stablecoins may provide a simpler alternative

  • ๐Ÿ”ธ Fast, low-cost transactions could attract more customers

In a rapidly changing economic climate, can businesses afford to ignore these advancements?

Shifting Trends in Payments

As businesses weigh the benefits of Ethereum payments, thereโ€™s a strong chance weโ€™ll see more chains and retailers adopting this digital currency within the next few years. Experts estimate around 30% of medium to large businesses could start accepting cryptocurrencies like ETH by 2027. This change is driven by the need for faster transactions and lower fees, helping companies stay competitive. Moreover, with more people showing interest in crypto, businesses that hesitate might miss out on attracting a broader customer base, especially as younger generations prefer digital solutions over traditional methods.

A Gritty Comparison

Reflecting on the days when credit cards first entered the consumer market, many merchants were hesitant to take the leap, fearing costs and complexities. Yet, those who embraced this new payment method found themselves at the forefront of a retail revolution. Just like that shift, the journey toward accepting Ethereum and other cryptocurrencies could transform the landscape. Todayโ€™s bold companies willing to experiment with digital payments might one day be seen as the visionaries who thrived while others clung to outdated methods. Like the credit card vans of the past, the ethereal currency may soon hit the sweet spot for modern commerce.