Payment company CoinPayments has created an integration for Shopify, one of the world’s leading eCommerce platforms, to allow merchants the option to accept cryptocurrencies as payment for purchased goods.
This joins a list of hundreds of other payment gateways provided by Shopify.
Is CryptoCurrency On The Rise Again?
Ever since December 2017 Bitcoin took a huge tumble and hasn’t yet managed to go back on the bull run that many have been calling for.
However many advocates of block chain and crypto currency are still adamant it has a future as a key payment system.
The partnership has received a positive reception from crypto enthusiasts, who are happy about the progress that blockchain technology has been making in eCommerce.
Similar to Shopify store owners, sellers on the Magento 2 platform can also start receiving payments in cryptocurrency by connecting their stores to the Waves blockchain platform using the free Waves Crypto Payments extension.
“eCommerce is rapidly developing, and that’s why it needs new technological allies to further evolve. For us, it is obvious that the blockchain technology is the key component for a state-of-the-art eCommerce ecosystem. We’re excited to be at the forefront of the blockchain and eCommerce inevitable merger”
Alexander Ivanov, Waves, CEO
Meanwhile, marketplace leaders Amazon and eBay have yet to announce their plans in connection with crypto payments.
Amazon has reportedly signed a deal with blockchain software company ConsenSys while eBay is considering adding more options to its new payment platform Adyen.
One of the main problems with crypto and eCommerce is the current volatility of the currencies. It has been seen a number of times over the years that Bitcoin can lose more than half of its value and then regain it again just as fast.
Are you a fan of Crypto Currency and do you think it has a place in eCommerce? Head over to our Facebook Discussion Group or use the comments section below and let us know.