Cryptocurrencies were considered controversial not long ago, but today they are noted as trends in different sectors of the economy. cryptocurrencies have overcome the initial mistrust to become tools important in business. E-commerce is no different. The possibility of speed up payments, reduce the costs of financial transactions and, in addition, increase security with blockchain are essential elements for any company that operates digitally.
Therefore, Cointelegraph spoke with Rubens Neistein, Business Manager at CoinPayments which provided five facts that show why the world of cryptocurrencies is important for e-commerce:
1 – Crypto assets are increasingly popular: “Even those with little knowledge of digital payment solutions have certainly heard of cryptocurrencies. The world of cryptocurrencies has gained importance in recent years and has gained prominence in the news and on the web“. A Visa survey, for example, shows that 97% of Brazilians know, even partially, the subject, and a third of them already handle crypto assets on a daily basis. In this way, fear gives way to curiosity and the demand for using these resources in their virtual purchases increases.
2 – The existing projects drive good performance: “Although its popularity is recent, there are some successful projects using cryptocurrencies and other digital assets in both physical retail and e-commerce. These cases serve as good examples by showing, in practice, how blockchain technology can bring various benefits to online stores, such as faster payments and reduction of intermediaries in the financial ecosystem. When well implemented, it brings advantages to other sectors, such as the marketing and sales team.“.
3 – Alternative for weather economic instability: “The vast majority of crypto assets have a fundamental characteristic: decentralization. In other words, these currencies are not linked to any financial institution or system, so they are immune to factors that can impact the economic scenario, such as inflation in Brazil. By accepting the main cryptocurrencies or even creating projects with the development of tokens, the e-commerce players offer options for the user to consume the products and services without spending conventional money.“.
4 – Play to win (and involve) the brand: “The use of elements from games and video games is not a new tactic, but it was with crypto assets as tokens that it was able to evolve and go beyond the stage, so to speak. The play to earn model rewards consumers who participate and get involved in various initiatives created by the company. The difference is that, now, they earn “own coins” that they can redeem for products and/or services, grant discounts on high value purchases or even serve as an investment asset with a possible revaluation within its own ecosystem. This stimulates new business and improves engagement with the public.“.
5 – Debate over regulation for the sector: “Crypto assets are developed outside the financial market, but that does not mean that they can be exempt from monitoring and investigation. On the contrary, there is a growing movement to create legal bases that regulate this sector, which further increases the confidence of companies and consumers. Different countries are studying the best way to do this. In Brazil, for example, the Senate has already approved a bill to that effect and is awaiting analysis by the Federal Chamber. This measure delimits actions and responsibilities, reducing the risk of fraud and losses for all those involved.“.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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