Over the past decade it has grown so much that various businesses accept Bitcoin as a payment method both in-person and online. Despite having higher fees than many other cryptocurrencies, BTC is useful for larger transactions considering its security.
The main problem is the number of transactions that the network can process as the maximum capacity of Bitcoin is just 7 transactions per second while in contrast Visa managed more than 185 billion in 2019. Please note, however, that credit card transactions are not carried out immediately. These transactions are queued for days in some cases. While Bitcoin receives criticism for it’s transactions which sometimes depending on the network congestion is queued for hours.
As more and more people start using the Bitcoin network, the transaction volume increases as does the waiting time and most importantly the transaction fees. As for example in 2017 when BTC commissions skyrocketed due to increased usage and trading. This made people question it, and many companies stopped accepting Bitcoin as a payment method.
In the future there will be wallets with the ability to pay BTC, using Lightning something promising for the future of Bitcoin. This feature will make it easier for people to buy products with smaller transactions such as buying a coffee.
The second most important problem is the transaction time in stores for example one Bitcoin user cannot be behind another and wait 10 minutes for a transaction to be completed.
Lightning may resolve both of the above issues. On the other hand, transactions made online are made easier with Bitcoin due to the lack of waiting in line, especially by paying via QR code using your mobile wallet.