Last Updated on July 12, 2019
What An Online E-Commerce Company Like Overstock.Com Doing Around Cryptocurrencies?
Cryptocurrencies like bitcoins and Etherum is in limelight this year. Private and anonymous investors have witnessed a whopping rise in their holdings – Up to $7,000 per unit. Isn’t it amazing?
In 2014, Overstock.com registered itself as the first major retailers that accept cryptocurrency for e-commerce as payment. Just a month back, the company announced its joint venture to trade with cryptocurrencies.
According to Google trends,
The interest in the cryptocurrency Bitcoin, as well as other cryptocurrencies, has never been higher.
Coin ATM Radar currently lists 1,500 bitcoins ATM in almost 60 countries and the number is gradually increasing with the passing days.
Today, technology-savvy businesses are constantly aware of the increasing demand for cryptocurrency app development and its support for payment and are simultaneously looking out for solutions about how to accept bitcoins and other cryptocurrencies for online and in-store.
But, Why These Retail Merchants Are Placing Themselves To Trade In Cryptocurrencies?
Because Crypto is the latest buzz in the market.
LET YOUR CUSTOMERS KNOW THAT YOU ACCEPT CRYPTOCURRENCIES
Don’t expect your customers to ask whether you accept bitcoins as payment or not – Just tell them! A simple of cryptocurrency acceptance on your web door yelling “We Accept Bitcoin/Ether” is pretty enough to get noticed by the customers who are always in search of opportunities to pay digital currencies. The same customers are your targeted audiences that are likely to promote your crypto-friendly business on multiple social media networks.
Of course, you can move a step beyond by opting a multi cryptocurrency development service and ordering a tailored checkout page like below:
The more you grab the attention of the crypto-currency community, the more free advertising you are going to enjoy.
OKAY, SO SHALL MY ONLINE E-COMMERCE BUSINESS ADOPT CRYPTOCURRENCY?
Yes, absolutely!
Here’s why!
1.Cost-Effective Business Transactions
One of the biggest cryptocurrency benefits is that it is not counterfeited as every transaction done is secured using cryptographic code. It means you do not need to share your identity, location or the transaction details with anyone and it’s completely decentralized.
2.Secured Transactions With No Chargebacks
For every transaction, a different block is created which is then verified and secured. This protects businesses from chargebacks as customers are entitled to show fund proofs before the transaction is completed. This is far superior to the traditional transactions going in place.
3.Lower Fees
When accepting or sending bitcoins or other coins, no direct fees are included. However, transaction fees do apply for converting cryptocurrency into national ones.
4.Entrance To The Global Marketplaces
It helps you to accept payments globally with cost-effective fees and no processing time.
HAVE BUSINESSES NOTICED ANY BENEFITS FROM ACCEPTING THIS NEW FORM OF DIGITAL PAYMENT?
Yes, many businesses have achieved benefits by adopting this digital payment. They are:
1. Increase in New Customer Traffic
2. Increased Customer Retention Rate
3. Faster Processing Time
4. Better Control over Cash Flow
WHICH LEADING INDUSTRIES ARE IN A WAY TO ADOPT THESE DIGITAL FORM?
LOOKING FOR CRYPTOCURRENCY APP DEVELOPMENT COMPANY?
If yes, what are you waiting for? Bacancy Technology is the best company to hire developers for your cryptocurrency app development. Just drop us your requirements at [email protected] and we will get back to you with the best quote. Contact us now.
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