Cryptocurrency is making waves in shopping arenas thanks to the introduction of a whole new platform known as All for Crypto. The company, designed for shoppers who are technically efficient and prefer to do all or most of their purchases online, only accepts cryptocurrency payments for merchandise, and turns its back on cash, debit or credit cards.
All For Crypto Brings “Crypto Only” to Online Shopping
One of the big goals for cryptocurrencies has been to garner enough stamina in the space to be used as payment methods for goods and services. In the end, despite the speculative nature of bitcoin and its altcoin cousins, many are just there if you need to buy groceries or a cup of joe in the morning.
Unfortunately, volatility has been a serious problem. Many forms of crypto are prone to massive price swings that can occur without warning. Sometimes this is a good thing; if bitcoin is trading for $11,000 one day, there’s a solid chance it can move up to $12,000 with a 24-hour period, but this process also works in reverse.
Cryptocurrencies can lose heavy amounts of their volumes in little time. Many of us likely remember bitcoin’s dilemma in 2018, when after the previous December - in which the currency rose to nearly $20,000 per unit - it spent the next 11 months falling steadily until it had lost more than 70 percent of its overall value and wound up in the mid-$3,000 range by the time Thanksgiving rolled around.
As a result, many stores and retailers have said “no” to accepting crypto payments, given that they are not stable enough, and to an extent, we can understand why they’d feel nervous. If you purchase $45 worth of merchandise with bitcoin, but tomorrow the price of BTC goes down, you’ll still walk away with the items you bought, but the retailer you purchased them from will wind up losing money.
So, it’s interesting to see a platform like All for Crypto show up. Refuting all traditional forms of payment, the company is asking that customers only pay in cryptocurrencies like bitcoin and Ethereum, which is likely to set crypto on a very serious path towards legitimacy. In addition, executives claim All for Crypto will be much more transparent for users than other online shopping websites.
Why Take This Route?
William Leen, CEO of All for Crypto, says the company is seeking to alleviate consumers from some of the problem associated with e-commerce sites. He states:
There were unhappy sellers who experienced fraudulent chargebacks, and unhappy buyers who never got their products after paying for them. As blockchain and cryptocurrencies became more popular among the masses, I thought there must be a better way to trade online. Then, All for Crypto was born.
Blockchain provides irrefutable evidence of transactions. Customers can purchase items on the site with any form of crypto including All for Crypto’s own token AFCT.
The post All For Crypto Only Permits Crypto Payments Among Shoppers appeared first on Live Bitcoin News.
Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.
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