“Cryptocurrency currencies take the concept of money, and they take it native into computers, where everything is settled with computers and doesn’t require external institutions or trusted third parties to validate things.” — Naval Ravikant
Ecommerce Exploding in Popularity
Conservative estimates indicate the retail e-commerce industry will be worth of 4.8 trillion U.S. dollars by 2021. Yes, that’s trillion. When you consider that number is strictly the retail e-commerce industry (not wholesale), you understand how popular e-commerce has become. Interest in e-commerce is exploding in popularity, with everything from mobile commerce to voice commerce fueling the fire.
One factor sure to fan the flames is the increasing number of online marketplaces beginning to start accepting cryptocurrencies as a form of payment. From Overstock to Expedia and Twitch, online e-tailers are seeing the benefits of integrating cryptocurrency payments into their growth strategies. Some online marketplaces like Purse.io are exclusively accepting cryptocurrency payments. As interest skyrockets in everything from decentralized payment networks to cryptocurrency-enabled advertising platforms, the trend towards crypto e-commerce will continue to accelerate.
Cryptocurrency Acceptance Growing in Online Marketplaces
With the increasing interest in multiple types of cryptocurrencies, there are more consumers than ever looking for ways to spend their cryptocurrencies in online marketplaces. Savvy e-commerce merchants willing to capitalize on the interest in crypto payments may be able to increase their sales rate by developing a cryptocurrency transaction strategy. From ‘accept cryptocurrency Shopify’ to ‘accept cryptocurrency WooCommerce’, online shoppers are actively looking for e-commerce merchants willing to accept crypto payments for online purchases.
Benefits of Accepting Cryptocurrency for E-commerce Sales
Accepting cryptocurrency for e-commerce sales comes with many benefits to online business owners. Not only do you have no bank middlemen to deal with, you also benefit from having the cryptocurrency funds deposited immediately into your digital wallet. You don’t have to wait for a centralized organization to authorize your transaction, meaning you pay less transaction fees and have transactions completed at a much faster rate. This lets you release orders to your shipping department quickly, thereby potentially increasing your customer satisfaction rate. #Winning!
Cryptocurrency Payments are the Future of Ecommerce
Online merchants integrating cryptocurrency payments into their business development strategy now will be ahead of the curve. As more online marketplaces begin to accept crypto payments, it will be the early adopters who develop a reputation as e-commerce thought leaders focused on customer satisfaction. With a growing number of cryptocurrency payment options available for WordPress and e-commerce platforms like Shopify as well as increasing interest in cryptocurrency payment startups like Coinbase Commerce, Coinify, and BitPay, the future of e-commerce definitely lies with cryptocurrency payments.
Serve understands the move to online crypto-commerce is already happening. Serve will allow cryptocurrency, in the form of our (SRV) token or any other cryptocurrency, and fiat payments on the Serve platform. We believe the future of e-commerce lies in offering payment choices, including cryptocurrencies and token payments.
If you are an e-commerce merchant considering integrating cryptocurrency payments into your online business’ growth strategy, we invite you to connect with the Serve team on Telegram. We would be happy to discuss how the Serve platform can help you get ready for the future of e-commerce and up your online shipping and logistics strategy at the same time.