In the past year, many have invested in the meteoric rise of Bitcoin, including teenagers, families mortgaging their homes, and even billionaires suggesting 10% of assets in the digital currency.

With people's livelihoods and savings on the line, Bitcoin as an investment vehicle presents various issues, including extreme volatility, difficult fund recovery after hacking, and outdated technology compared to newer cryptocurrencies offering greater anonymity, programmability, and scaling.

While most look to popular altcoins for a replacement, could the true threat come from a more tangible realm?

It's the largest online retailer in the world

With a staggering 94 billion USD in sales in the last year and its extensive global operations, Amazon dominates the online retail industry with nearly half of all American online purchases. Despite offering a wide range of payment methods, Amazon has not yet introduced the option to pay with bitcoin or any other cryptocurrency, which is surprising considering its position as the industry leader.

If Amazon were to adopt a cryptocurrency, it would undoubtedly receive widespread support, given the current popularity of digital currencies. So, the question remains, why has Amazon not yet made the move to accept cryptocurrency payments?

Obstacle

Amazon may be hesitant to adopt cryptocurrency due to limited transaction speeds. The top two major cryptocurrencies, bitcoin and ethereum, can only handle 7-15 transactions per second, while Amazon has peaked at 600 transactions per second.

If even a small portion of Amazon's traffic used cryptocurrency for transactions, the slow speeds could result in a poor customer experience. However, this doesn't necessarily mean that Amazon will avoid cryptocurrency altogether.

The company has a history of using innovative scaling solutions, and there are other cryptocurrencies like Ripple that have tested speeds as high as 1500 transactions per second.

Why Amazon Might be Considering Cryptocurrencies

Despite not making any official statements on cryptocurrencies, Amazon's recent purchase of domains such as amazonethereum.com and amazoncryptocurrency.com indicate a possible interest in the space.

While some may see this as merely a precautionary measure, Amazon has always prioritized customer experience, and cutting out the middleman by allowing customers to purchase directly with bitcoin or other cryptocurrencies may be a logical next step.

Additionally, with a large international customer base, cryptocurrency could provide a more standardized and convenient currency for cross-border transactions.

For now, just keep eye on amazon

Amazon's potential move into the cryptocurrency space has generated a lot of buzz and speculation. While the company has yet to make any official statements, the choice of which cryptocurrency to adopt could have a major impact on the industry as a whole.

Whether Amazon opts for bitcoin, ethereum, or a lesser-known cryptocurrency, it is likely that the chosen currency would experience a surge in popularity and use as a result of Amazon's massive customer base and influence.

Regardless of which cryptocurrency Amazon chooses, it is clear that cryptocurrency and blockchain technology are here to stay.

The emergence of new and innovative cryptocurrencies, along with the potential adoption of existing currencies by major companies like Amazon, could lead to a shakeup in the current cryptocurrency landscape. While bitcoin has reigned supreme as the top cryptocurrency for years, its future position in the market is uncertain as newer, faster, and more scalable cryptocurrencies continue to emerge.

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