Blocknomics "Bitcoin on E-Commerce & Benefits"

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Blockonomics is an industry-leading payment processing system for merchants accepting
Bitcoin. Our aim is to provide our users truly decentralized, trusted and secure, completely
permissionless, straight to wallet Bitcoin payment solutions. We view ourselves as strong
believers of decentralization and cryptography
Bitcoin on E-Commerce
As Bitcoin becomes more ubiquitous, merchant interest has grown rapidly in the world’s
#1 cryptocurrency as a payment method. There are countless reasons for the spike in
interest:
  • Reduced Fraud: Due to the write-once nature of the distributed ledger, the
    cryptocurrency transaction is irreversible.
  • Border-free Payments: Wherever you have unrestricted Internet, cryptocurrencies are
    available.
  • No PCI Concerns: Unlike credit cards numbers, Bitcoin account addresses are public by
    nature.
  • Lower Fees: A small fraction of each cryptocurrency transaction paid by the sender is
    paid back to the network.
  • Privacy: With the General Data Protection Regulation (GDPR) in the EU and the recent
    fallout from Facebook in the United States, customers are more sensitive to their privacy
  • Overstock.com: The first big online retailer to start accepting Bitcoins
  • Expedia: One of the largest online travel booking agencies worldwide.
  • eGifter: eGifter is a popular gift card site and mobile app that lets users buy gift cards
    for all sorts of places, including Amazon, JCPenny, Sephora and more.
  • Shopify: One of the world’s top E-commerce platforms allows shops to sell their
    products similar to Etsy or eBay.
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However, some merchants are still skeptical regarding the adoption of Bitcoin as a
payment method. Below are the more fundamental explanations of this attitude:
  1. Scalability: Despite cryptocurrency’s growing user base and hype, most distributed
    ledger networks are still in its infancy. Even Bitcoin, the first and most popular
    cryptocurrency, can only reasonably process a handful of transactions per second - a far
    cry away from services such as Visa that handle 2,000+ transactions per second.
  2. Price Volatility: Bitcoin is a new asset class with growing user base, but a fair market
    value is difficult to be understood. Combining this with an unregulated marketplace that
    consists of novice investors, the results lead to significant price volatility.
  3. Customer Service: With a more steep learning curve for buyers, supporting an
    additional payment option in checkout can create complex and confusing customer
    inquiries.
The value of Bitcoin in the field of E-commerce and online payments is promising, after all. Whether the ease of money transfer, less paperwork involvement, highly secure, the efficiency of currency type transfer from one to another, or other abovementioned benefits over traditional money transfers; digital currencies like Bitcoin are helping both private users and online merchants to experience a whole new world of monetary exchange with complete ease.
The Benefits of Bitcoin as a Payment Option
There are many unique benefits of using Bitcoin as a payment option over credit cards, PayPal, and other methods ;
  • Freedom in payments
    There is no restriction on the amount of money sent globally and instantly. Users do not need to be over 18, or live in a developed economy, have a regular income, or even have an ID.
  • Low transaction fees
    Digital currency users enjoy zero or low transaction fees compared to other online payments methods, such as PayPal, Western Union, and credit cards. In fact, Bitcoin fees are significantly low (between 5 to 10 cents of the US dollar), while transactions fees via other methods like credits cards, PayPal, and Western Union in some occasions may reach the level of 9-10% of the transaction.
  • No chargebacks
    Credit cards chargebacks is a scenario when the buyer disputes the transaction in a case of a defective product or any other possible reason. Merchants are losing a considerable amount of money at the end of each financial year
  • Speed
    Another significant benefit of using Bitcoin is that Bitcoin transactions are confirmed very quickly, in a matter of seconds or minutes, as opposed to days as with banks. This speedy verification is essential for small and medium businesses, which require a steady cash flow to maintain their operations.
  • Global Access
    There are many countries around the globe where PayPal is not supported, among them Iran, Afghanistan, North Korea and Haiti. While PayPal does not deal with these countries due to mostly political reasons, Bitcoin does not discriminate in such ways and all that is required for access is hardware and a data connection.
There are many countries around the globe where PayPal is not supported, among them Iran, Afghanistan, North Korea and Haiti. While PayPal does not deal with these countries due to mostly political reasons, Bitcoin does not discriminate in such ways and all that is required for access is hardware and a data connection.
Our Team
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Blocknomics Roadmap
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Written By Ansul
BTT Username : Ansul
BTT Profil URL : https://bitcointalk.org/index.php?action=profile;u=1929748
Telegram : https://t.me/EllyZulkifly
Facebook : https://www.facebook.com/elly.uchiha
Twitter : https://twitter.com/EllyZulkifly_66
ETH Address : 0xCF12aDb6d2Dd8106f28C06b4547467fB231DE0a2

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