Cryptocurrency in ecommerce — more than just a hype
Fiat money is a means of the mutual financial settlement between the market players. Be it for physical products or services, consumers look for flexibility in payment methods. Digital currencies are no exception, especially in the e-commerce world where flexibility is a key to creating better user experiences and higher conversions.
From the very first moment crypto and blockchain entered our newsfeeds, analysts predicted its fast decay. The ups and downs of bitcoin and other cryptocurrencies only strengthened the arguments, pointing at market volatility.
Missing legislative regulations is another counterargument the opponents of crypto use. Or should I say, used to use? As of March 9th, 2022 the White House issued the Executive Order that, in fact, is the first step to legitimizing the cryptocurrency industry.
What’s more, over the past decade, major retail players have become the early adopters of crypto. Here’s a short list of online stores that accept payments in diverse cryptocurrencies:
> Microsoft
Overstock
Shopify
Whole Foods Market Expedia Travel Newegg The Home Depot Add PayPal, Twitch, Namecheap, Wikipedia, and Sotheby’s to the list. Cryptocurrency isn’t just a buzzword anymore, it’s the new black. And, according to Gartner , 20% of large companies will adopt digital currencies (including crypto) by 2024. Why would retailers invest in crypto? Seeing how fast the world is responding to the adoption of crypto, it is not so hard to imagine why ecommerce merchants want to jump on the bandwagon. Let’s lift the curtain on why top ecommerce companies are choosing cryptocurrencies as one of their payment methods. More solvent clients Crypto adoption by a broader market is in its early stages, as Visa research states. But even at the moment of growth, it already has 21% of active users. This means they have recently made […]
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