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Savy
Savy

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Crypto Commerce - Future of E-Commerce?

Problem

Tax and death are the two things in the world you cannot avoid!
I disagree, both of them could be avoidable! At least the first one. consider you can sell goods to people without paying any non-rational tax.

Also, some countries are controlling people and building walls between different nations. This is unacceptable. You have the right to trade freely and connect with people all over the world whenever you want.

Solution

Crypto currencies could be our solution. despite the nonrefundable nature of most crypto currencies, they could make humans truly free in terms of trading and payment. Human built a form of currency no government can control.

Features

  1. Selling goods/services with cryptocurrency
  2. Managing inventory
  3. Online presence of products
  4. Connecting to different markets
  5. Converting prices to different cryptocurrencies
  6. Payer can use a wide range of cryptocurrencies
  7. Seller can receive their money quickly in their wallet

Challenges

  1. Seller needs to trust the POS mechanism
  2. Payer needs to trust the seller
  3. Settlement must be fast
  4. Seller should guarantee their product
  5. Seller should reward customers who pay via crypto

Advantages

I can say the best advantage of using Crypto Commerce is reducing taxes. Second, most cryptocurrencies have investment potential. Although sellers can receive stablecoins like USDT, receiving crypto such as BTC or ETH could have long-term benefits.

POV: Customers

Why should someone trust sellers who only accept crypto? While fiat gives all the rights to the buyer, crypto gives rights to the receiver. In this case, the seller has a tough time building trust.

I think the best way to create a culture of paying via crypto requires following steps:

  • Rewarding crypto payers: If we are selling our products via cryptocurrencies to reduce taxes, it's fair to share some of this savings with the buyer. For example, if you sell your product for $100 and typically pay 13% tax ($13), you should sell it for around $93.50 when accepting crypto. This way, both you and the buyer benefit, splitting the savings: $6.50 for you and $6.50 for the buyer who trusted you. A win-win situation.

  • Start Small: teach your customers that paying via crypto is safe, let them pay via crypto coins. reward them. give them the feeling they are pioneer of new modern era of money and currency. but this experience should be risk-free. start with very cheapest products. repeat this type of experience for your customer.

  • Provide Guarantee and Alternatives: Offer all legal information to your customers, show them who you are, and maintain a trustworthy site. Join trust-building platforms, release videos, and present yourself on social media. Take all necessary steps to build trust. Start accepting crypto as an alternative payment method with rewards. Offer PayPal or other traditional forms of payment, so customers feel free to choose their preferred payment method. Never force them to choose cryptocurrency.

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