We are entering times where future payment technologies like Bitcoin is gradually being adopted to be accessed by a broader audience. In terms of merchant adoption, the industry undoubtedly has seen major market players like Microsoft and Rakuten jumping on the digital currency bandwagon. So when a relatively small and new online retail startup announces to be a ‘cryptocurrency-only’ business, things seem obvious.
Here we are discussing about CryptoPet which, upon its launch, has gained quite a public exposure due to its no-fiat-only-cryptocurrency policy. The pet apparel and accessory store is currently offering over 3,000 products, payable with different digital currencies like Bitcoin, Litecoin, Darkcoin and without a surprise, Dogecoin as well.
In their introductory webpage, the four owners of CryptoPet describe themselves as active members of the cryptocurrency community, with each having an extensive experience in the e-commerce industry. Apart from the aforementioned cryptocurrencies, they have therefore promised to add more altcoins in their checkout system to attract more communities to the website.
“We are using CoinPayments.net as a payment platform since it allows us to accept a wide range of altcoins in single service, says one of the excepts. “It is a very fast, simple and effective payment method, without any additional fees.”
On Bitcoin Volatility
Unlike other online retail businesses that rely on third party payment processors to instantly convert the Bitcoin payments into fiat, CryptoPet has visibly shied from using such services. It is, on the other hand, is treating Bitcoin as its hedge against all the altcoins. Its official payment platform CoinPayments.net is known to convert altcoin payments to Bitcoin in real time with a minimal fee.
This perfectly illustrates that CryptoPet is not worried about Bitcoin’s volatility at this time. It has however listed all the products in USD and will be charging a Bitcoin equivalent of the bills anyways.
We are currently awaiting responses from CryptoPet owners. Kindly check back to know further about their plans.
Here we are discussing about CryptoPet which, upon its launch, […]