In the ecommerce world, payment in cryptocurrencies It is living its golden age and it is no longer the future, it is the present. And as such, it is important to keep in mind whether implement payment with cryptocurrencies in your ecommerce It's a good decision. Cryptocurrencies eliminate intermediaries and are a strong alternative to traditional payment by card or transfer. As a payment system, it is one of the most secure and sophisticated that exists.. According to a survey by the Bank of Spain, more than 70% of those surveyed no longer carry more than 5 euros in their wallet, so we are in the middle of the era of cashless.
It is not that cash is going to disappear (at least in the short term), but everything indicates that society is ready to take the leap and completely break with traditional payment methods.
How does the strengthening of cryptocurrencies affect purchases in an e-commerce? The numbers speak for themselves. Among the main reasons for shopping cart abandonment There is a “lack of trust when providing bank details” and the “absence of alternative payment methods”. These data explain the rise of new payment methods such as Bizum, Apple Pay or PayPal, which we already talked about previously in our blog. And among all of them it seems that the brilliance of cryptocurrencies is turning out more seductive than ever.
How is he person profile who uses cryptocurrencies? According to a study, this would be more or less your x-ray:
- 8 out of 10 users are men and have a high tendency towards consumerism
- More than half are between 26 and 45 years old.
- Women who opt for this system have a close relationship with Lifestyle (fashion, beauty...) and Technology.
- High educational level and hold high positions in companies. Strong economic capacity.
If you buyer target is within these parameters, you are losing sales if cryptocurrencies are no longer part of the payment options of your online store.
What are the advantages of using cryptocurrencies in your ecommerce? Several, and some of them of unquestionable value in the purchasing process. Let's see the main ones.
- Confidentiality. The process is completely anonymous and it is really difficult to counterfeit cryptocurrency or cancel a transaction once it has been executed.
- Security. Its encryption technology is a step further in the security of the purchasing process and greatly hinders the possibility of a cyber attack.
- Immediacy. The payment is received in a time frame that ranges between one minute and one hour.
- Cheaper transfers. In many cases the cost is lower than with the traditional system.
You reduce cart abandonments. For the security and confidentiality they provide.
Implement cryptocurrencies in your ecommerce
If you have already convinced yourself that accepting payment in cryptocurrencies is necessary in your digital project, from mid-rocket We tell you how to do it. There are two ways to establish this payment method:
- Through a personal wallet.
- Through a third-party payment gateway (Coinbase, Coingate, Coinpayments, BitPay...). Although most of these tools focus on Bitcoin, they can also process other cryptocurrencies such as Ether and Litecoin.
Our team can advise you on which one best suits your ecommerce and carry out the entire implementation.
You should seriously consider integrating one of these payment gateways into your website if you want to keep your digital project up to date. Cryptocurrencies allow you to attract new customers with a very interesting profile and increase your sales. You want to know more? ask mid-rocket!