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Cryptocurrencies getting closer to retail customers

03/20/2019
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The development of cryptocurrency prevents their isolation from the real consumer. The 2017 boom provoked the interest of a narrow number of investors who used them solely as a financial asset. Now the situation is changing dramatically. More and more retail stores are ready to accept bitcoins, ethereum and ripple as a reliable means of payment.

Swiss Cryptocurrency Experience

Switzerland's largest online store Digitec Galaxus has announced its readiness to make payments for the purchase in cryptocurrency. This was made possible through cooperation with the companies Datatrans and Coinify, which provide the technical part of the transaction.

Founded in 2001, Digitec Galaxus has an annual turnover of about 1 billion Swiss francs. Its range exceeds 1 million products in 11 product categories. The business model allows third-party vendors to sell their products through the galaxus.ch service.

Although there are limitations in purchases through cryptocurrency, the store administration sees great potential in the new payment scheme. So, the minimum amount is $ 200, and the cost of goods is fixed for only 15 minutes. In addition, the transaction fee will be 1.5%. But here we are sure that for a certain part of customers, purchases for cryptocurrency will be more profitable.

US buyers and cryptocurrency

Avnet, a US company, is ranked 128 in terms of income, in 2018 its revenue exceeded $ 1 billion. And here they also started accepting Bitcoins for settlements with counterparties. Moreover, Avnet is sure that the possibilities of the blockchain and new cryptocurrency payment systems are far superior to the existing mechanisms.

For technical support of transactions, Avnet used BitPay services. This cryptocurrency payment system in 2018 reached a turnover of $ 1 billion.

Ordinary users often do not notice that the services of traditional payment systems are very expensive. In this case, the payer of the commission is the seller, who simply has to increase the value of the goods. Therefore, Avnet said that payments using Bitcoin will be cheaper and will become much easier. In addition, Avnet has now begun cooperation with the Bitcoin.com resource. Its goal is to create a hardware wallet with the highest level of comfort and security.

Australians will be able to buy bitcoins for cash

The company Binance are working on the creation of a network of cryptocurrency retail. To date, contracts with 1,300 outlets have already been signed. The user will be able to order the purchase of a financial asset through the Binance Lite service, and payment will be made in a regular store.

According to Binance, it is Australia that now provides the most comfortable conditions for working with cryptocurrencies. The country's legislators are loyal to digital financial assets, and the number of cryptoexchanges here has already exceeded 250 pieces.

The only thing that can scare users away from using the Binance Lite service is quite high commission fees. The transaction will cost 5%, plus you will have to add taxes and government fees.

However, in general, we can conclude that: infrastructure for the circulation of cryptocurrency appears in the world. Exchange, processing services and retail stores make available to the average user the use of tokens for everyday payments.

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