Why Should E-Commerce Stores accept Cryptocurrency?
Shopaholics can rejoice as they have yet another way to splurge into the designer wears and other experimental stuff from the e-commerce stores that have a great collection, whatever you need they have it online. Any geographical location, there is free shipping, or a small amount charged to ship the product safely. As many of them have the notion that coin based currency can be purchased only to stock up, or trade at digital exchanges, there is still a large presence of online stores accepting the coin currency as they are also considered the medium of exchange.
The mining of the coin currency will increase the demand for the coins, as online e-commerce stores accept them, the review and the huge demand for the success of this medium of payment option. There is a widespread popularity for the method of just pay by button click forms the web pages of the e-commerce websites. Volatility in the pricing and the lengthy processing time, busy blockchain networks will in no way be detrimental for the users to shop and pay off by using the coin currency either directly from their digital wallets into the e-commerce website, or purchase and pay from a service provider directly from the e-commerce website.
The advantages to go digital comes from the fact that, the card of bank purchases leaves a trail of information with a high probability of chargeback’s, using this form of payment reduces the
- chances of fraud that is a major concern in online purchases, phishing, nondelivery of the products, for nonreceipt of the money transferred, claimed by service providers can be reduced using the coin based digital transactions as they are permanent and irreversible
- chances of reversing crypto-based transactions are not possible as they are permanent and cannot be erased, troublesome service providers cannot deny the receipt of coins
- the transaction fees are almost half than what the normal payment merchants and gateway charge, this prompts the user of online software like the QProfit System to trade, profit, and purchase
As we progress further into the payment solutions taken over by coin currencies, the instant payment solutions are underway, where there are no transaction fees charged and the coin based currency is instantly transferred once the purchase is made from the e-commerce website. Keeping in view the presence of the coin currency that has far spread across the globe the reach for the coin based payment system is surely going to make a greater impact in the e-commerce industry.