The Impact of Cryptocurrency on eCommerce
Cryptocurrency is one of the hottest technological trends of the last five years. While eCommerce has been a significant feature of the digital world for many years, the pandemic has accelerated the growth of the global eCommerce market immensely (from $3.354 trillion in 2019 to $4.981 trillion in 2021!).
Dubbed by many as “the dynamic duo of the internet”, eCommerce and cryptocurrency occupy the same digital world, they are the beginning of a new era of digital development. If you want to know more about the connection between cryptocurrencies and eCommerce, keep reading.
3 Ways Cryptocurrency is changing the eCommerce industry
Adapting your platform to allow people to pay using their crypto wallet could widen your target market and lead to an increase in new customer traffic.
Blockchain use in eCommerce
Accepting cryptocurrency as payment is a risky step. However, cost reduction is a key feature of blockchain. This is why many suppliers use blockchain to avoid paperwork. The ever-growing community of cryptocurrency enthusiasts is more likely to make purchases from cryptocurrency providers than their traditional competitors, and vice versa.
Did you know that your bank details are easier to get stolen than your e-wallet data? Cryptos are decentralized, yet protected in such a way that no one could ever attack them or do some type of counterfeiting.
Cryptocurrencies are everywhere today. Cryptocurrencies are now gaining more traction in global transactions. And eCommerce retailers would benefit from considering what the future of cryptocurrency transactions will look like because it might be closer than previously thought.
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