The greatest challenge facing blockchain entrepreneurs is getting merchants of all shapes and sizes to accept cryptocurrency. Unfortunately, cryptocurrency is useless to most people because they cannot use it at their local merchants.

Merchant acceptance is critical for widespread adoption of cryptocurrency. Money that cannot be used to buy groceries at the local store is useless to most people.

Businesspeople refuse to accept cryptocurrency because of the way altcoin prices are set. Cryptocurrency prices are determined by very volatile markets. That means the price can fluctuate from hour to hour and even minute to minute. A unit of Bitcoin (BTC) that was worth $10 at 3 p.m. might be valued at $6 at 5 p.m. for example.

This volatility means that merchants cannot depend on cryptocurrency to cover bills, pay suppliers, repay loans, or meet payrolls. Stable money is a necessity for a successful business, and cryptocurrency is inherently unstable.