The world in the twenty-first century is shifting from physical retail stores to online marketplaces.
Jeff Bezos attracted worldwide attention with Amazon, the world's largest e-commerce website. Though he started small, Amazon grew to be a behemoth organization. The human mind has the capacity to alter the nature in which it dwells, which is why most philosophers advise humans to use their minds to be more creative in their activities.
What is e-commerce?
Ecommerce is a dynamic business model that allows companies and individuals to buy and sell goods and services online. In recent years, any transaction completed using electronic means is also considered e-commerce. Small businesses have developed payment solutions to integrate with business platforms through the use of financial institution gateways, making this possible.
As a result, many small businesses can become global businesses by leveraging the internet to have their shops listed on a global platform. The creation of online shops allows customers to buy everything from clothes, shoes, books, coffeemakers to toothpaste right from their homes via a mobile or computer device.
With the development of blockchain technology and by extension cryptocurrencies, technological advancement has proven that there is a new form of money that would enhance the benefits of cryptocurrencies.
The following are some of the benefits of cryptocurrencies for e-commerce:
Freedom to be your own bank: Cryptocurrency users would be able to use digital coins to pay for purchases and services in a faster manner than having a fiat transaction confirmed.
Global transactions: We live in a world where trade and commerce can be conducted virtually from the comfort of our own homes. Due to this, people can actually send and receive money globally using their mobile phones at very low remittance fees.
Speed of Transactions: As a result of trade barriers associated with fiat currencies globally, transactions are hindered as settlement companies associated with financial institutions often delay confirmation, which delays the required speed in settling transactions.
The use of cryptocurrencies for such transactions can be executed within seconds as the block confirmation speed timing has enabled them to be executed faster.
Crypto payment benefits can totally change the way businesses would be executed and also increase the volume of transactions, as users can rest assured that high transaction fees would not adversely affect their business operations.
The Travala.com platform is an e-commerce platform that uses cryptocurrencies to enable people to book over 3,000,000 travel products including accommodations, flights, and activities in 90,124 destinations in 230 countries around the globe.
At Klever, we have made things even easier by offering a P2P wallet that serves as a means of storing cryptocurrencies, making daily payments, and trading the cryptocurrencies into other forms of money, including fiat.
For new users and small businesses, the expected steps are to download the Klever wallet, integrate our API into their website, store their crypto, and begin using their crypto every day.
It is a Klever thing to do.