Auto-Pay in Crypto: Convenience or a Risky Shortcut?

Cryptocurrency services continue to adopt features typically associated with fiat payment systems. But the relevance of these features for crypto often raises eyebrows:

• Recurring payments,
• Apps obtaining "pre-approved consent" for future transactions,
• And now, the ability to make payments via QR code without confirmation.

This latest feature was introduced in the Bitkit wallet. If the QR code for a payment (within your chosen limit, say $50) appears in your smartphone camera while Bitkit is open, the wallet will automatically process the payment - no PIN, swipe, or fingerprint needed.

Bitkit is a Bitcoin wallet supporting the Lightning Network. Unlike blockchain transactions - where you can potentially replace a transaction before it's confirmed in a block - Lightning Network payments are instant and irreversible.

In fiat systems, this feature makes sense. If you use your phone frequently for store payments, skipping the confirmation step is convenient. And if there’s an issue, the merchant is right there to sort things out.

But Bitcoin isn’t commonly used for daily payments, so there’s no need to rush. More importantly, when scanning a QR code from a computer screen, there’s no merchant nearby to help fix mistakes.

Lightning Network is an excellent solution for instant Bitcoin transfers. On rabbit.io, you can exchange Bitcoin using this network to benefit from its high speed and low fees. Just remember: crypto is about having full control over your finances. Allowing a wallet to spend your crypto without confirmation doesn’t quite align with that principle.