Are Alternative Currencies Essential For E-Commerce?

Alternative Currencies have been a hot topic for the last few years. They are not issued by the government. Alternative Currencies are indifferent to the money we use every single day. Most people never see the cash in the bank account. Money is transferred from our company directly into an account. Then, it is used through a credit card or debit card. We use this traditional currency to invest in stocks, bonds, etc.

Maybe you have heard about Bitcoin, which is the alternative currency gets the most attention right now. Bitcoin can create other cryptocurrencies which are electronic ones protected by cryptography and proof-of-work systems. People earn Bitcoin through a network of interconnected individuals who make electronic resources available.

Starbuck and Amazon are two big corporations using their own alternative currency. Starbuck has Stars, which are gained through purchases or task completion. Stars are even bought through purchases from other companies. Amazon uses Amazon Coins are earned through purchases. Customers are able to use Amazon Coins to buy products in Amazon system. Nike brand uses Sweat as their currency and customers exchange Sweat in real Nike products.

In fact, Bitcoin is used in more places. You can buy real estate in Las Vegas with Bitcoin. In Bitcoin pawn shop of San Francisco, it’s likely to get cash in exchange for Bitcoin. Even e-commerce platforms process Bitcoin payments with the help of Bitpay. Specifically, Shopify offers Bitpay as a payment method. Shopify is a huge e-commerce site providing platform for more than 75,000 retailers.

It’s possible that more automated e-commerce platforms and sites begin to use alternative currencies. Besides cash and credit card, alternative currencies probably become a popular method of payment. Alternative currencies can develop in an e-commerce environment for sure.

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