Your item’s appeal and the likelihood of sale will increase with cryptocurrency because it will stand out from the stock offering. According to a recent study, more than 60% of crypto owners are interested in using crypto as a payment mechanism. Non-owners expressed an interest in using cryptocurrency for such purposes in 23 percent of cases.
2. No charge-backs
Using traditional sales methods, merchants are vulnerable to unanticipated chargebacks.
This is not the case with cryptocurrency, as each transaction is final and cancellation of payments is not possible. Furthermore, in case of a refund, you won’t have to handle potential chargeback fees.
3. Reduced fraud rates
Contrary to popular belief, most cryptocurrencies allow all transactions to be tracked and are stored in the system indefinitely. This means that a scammer would be exposed to authorities if he transferred funds to an exchange. Additionally, scamming addresses can be blacklisted, and scamming with cryptocurrency is a much bigger hassle.
4. Lower transaction fees than traditional payment processors
Although some cryptocurrencies, such as Ethereum, currently have high Transaction Fees, this is not the case for the majority of them. For example, Stellar (XLM) has a transaction fee of 0.00001 of a lumen, which means that every transaction costs $0.00000325 based on the current price of XLM.
5. Easy international trading
Unlike traditional methods of transaction, where you must be concerned about possible additional charges on currency exchanges and cross-border imposed institutional fees, cryptocurrency eliminates the middleman. That means you can send and receive funds without worry, greatly increasing the availability of your product.
6. Receive and use money much faster
You don’t have to wait a few days for your funds to be available before shipping items to customers, which reduces their experience. Depending on the currency, your assets can be deposited in cryptocurrency in seconds.
Conclusion
Selling with cryptocurrency will undoubtedly allow you to expand your audience and explore new markets. Using a marketplace like Ethair Market should be more advantageous than third-party integrations with platforms like Shopify because of its finished solution, combined with the global market effect of many potential customers viewing your items for free.
