&glazed announces it is a fulfilling milestone for the local dinnerware enterprise to implement cryptocurrency payment. Since its global inception in 2009, cryptocurrency has gradually attracted the interest of businesses, consumers and investors. This milestone for the local dinnerware and decor enterprise is a pleasant surprise for the local e-commerce scene. &glazed will officially accept cryptocurrency as a form of e-commerce payment at the start of the year, 2022. Dinnerware and decor enthusiasts who are savvy with Decentralised Finance (DeFi) can now look forward to the new form of payment.
Coinbase Adoption and Accepted Currencies
With careful market research and consumer consideration, it adopts crypto payment via the well-established exchange platform, Coinbase. After exploring the viability of cryptocurrency and user preferences, &glazed finalises Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Dai (DAI) and Litecoin (LTC) as accepted cryptocurrencies. The impetus of improving consumer experience with a swift and safe payment system led to the decision to adopt Coinbase. Through an API integration to Shopify, users with Coinbase commerce wallets can experience almost instant transactions, similar to other digital wallets.
&glazed is keen on encouraging non-crypto users to consider decentralised digital finance as a new form of e-commerce payment. The dinnerware merchant assures consumers it has robust payment security and privacy measures to monitor and report potential threats. The conversion of crypto coins and tokens to fiat occurs daily, which helps to maintain transactional transparency and accountability.
Potential Of Crypto Growth
The decision to adopt cryptocurrency stemmed from a curiosity of user experience that fuelled its entrepreneurial team to research blockchain’s prospects. &glazed’s founder Lionel Lim cited two opportunities from a study commissioned by BitPay, the top global provider of Bitcoin and crypto payments. First, up to 40% of shoppers who engaged in crypto payments via BitPay are new customers of BitPay merchants. Second, in addition to low charges and high flexibility, cryptocurrency provides safe transmissions. Hence, consumers have higher purchasing ability and control. The Straits Times reported In a poll conducted by FinTech comparison website Finder.com, Singapore ranked sixth in cryptocurrency ownership. At 15.6 per cent, Singapore is ahead of the 11.4 per cent global average. The poll captured responses from 40,645 people across 22 countries, including 985 adults in the Republic. Although the sample size may not seem significant, the optimistic merchant sees the potential of ownership growth in the coming years.
Mr Lim reveals, “We seek to explore new markets and continuously improve consumer experience, with coinbase commerce easy to use API integration, we have successfully added another payment gateway to our e-store which helps customers purchase items with their selected wallets. Also, with Singapore turning into a hub for cryptocurrency in the region, it was time shop owners like ourselves digitalise and start preparing for the near future.”
Streamlined and Safe Experience
As DeFi provides highly accurate data records, &glazed believes it offers customers a streamlined and safe experience. Customers would welcome the transparency from using the coins or tokens to track the supply chain flows of purchased products. Payment settlement times vary differently between banks, credit card firms and mainstream digital payments, which may cause inconvenience to users. The transactions of crypto coins and tokens process instantly, giving merchants and customers real-time access to revenue and expenditure. Due to its decentralised ledger system, cryptocurrency users cannot alter its transactions, which protect users against thefts or frauds.
This is a paid press release TheCryptoBasic does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. TheCryptoBasic is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
