The internet is a technological innovation that has come to change the world, bringing human beings closer and closer, reducing distance in a simple click from a button. Nowadays people from all over the world interact and talk,or even close deals in a practical way without having to do it displacement.
Nowadays people live off the internet and finding viable means of payment is a prerequisite to be able to bet more on people's monetization. Since not all payment methods are favorable to internet business, largely because of the fees charged by financial companies that make the business unfeasible, it is necessary to use favorable payments for e-commerce to evolve and Bitcoin Cash can be used in this regard .
...but why Bitcoin Cash?!
Bitcoin Cash is a decentralized currency that works for peer-to-peer payments without the intermediation of anyone just the seller and the trader all done by the blockchain. Merchants all over the world are increasingly accepting and adopting the currency, both for its security and speed in transactions, as well as its most important foundation, low rates, which makes it more attractive to the market.
But why use it in e-commerce
First, we must understand what e-commerce is, and then we can see how Bitcoin Cash can be used in this type of trading.
E-commerce: is the purchase and sale of products using an electronic medium, in this case the internet, and not only that, nowadays all transactions concluded electronically are also considered e-commerce.
For the completion of these transactions, a means of payment must be involved, often using digital money such as the dollar or another fiat money. But as is to be expected, these transactions are costly and cause a lot of headaches for intermediaries with rejected transactions or involving problems with financial providers, and as is known, these can fail but continue to be charged to the consumer.
Using Bitcoin Cash for the e-commerce business
There are three types of e-commerce where Bitcoin Cash can be used as payment currency which are:
Business-to-business or B2B-websites such as Shopify belongs to this category of e-commerce
Business to consumer-sites like Amazon from Jeff Bezos, the richest man in the world, belongs to this category
Consumer to consumer- the giant eBay website belongs to this category.
In all categories there are payment methods to make it easier for consumers to sell or buy products and often these types of payments are centralized and do not allow much maneuver to be able to purchase items without having to go through a third-party payment method that may fail, be rejected or even not authorized to carry out this type of transaction by the financial provider.
Using Bitcoin Cash for e-commerce only brings benefits for both consumers and traders who are not adept at centralized means and want to have their products purchased quickly, easily and dynamically. The good thing about this is that Bitcoin Cash is not controlled by governments or third party applications, the consumer can buy and pay quickly directly from their wallet and the merchant can have their product purchased quickly.
...so both parties win!
Bitcoin Cash can be used to make any type of purchase and sale through using the web and beyond, it can also be used to make payments for services such as water and electricity bills, pay a package subscription (TV or internet... ) and even more, ensuring consumer satisfaction and safety.
Let's see how types of e-commerce can be beneficial using Bitcoin Cash
Business-to-business or B2B
When someone sells a business-to-business product, wholesale this form of e-commerce is used.
Let's imagine a scenario in which a company intends to sell something to another and in this negotiation be able to use Bitcoin Cash to pay and have speed in the transaction and the product available in a short time, not to mention that it would save a lot of work and unnecessary money if they were to use means of conventional payment.
Business to Consumer
Online business is very strong nowadays and in any corner of the world every day we see it happening, most are targeted to a certain target of consumers and allow people to buy products and pay for services directly and from the comfort of their homes. In this sense, consumers can purchase products and pay via Bitcoin Cash.
Bitcoin Cash allows this.
Consumer to consumer
This type of e-commerce is what moves the consumer's world the most, mainly because it has direct participation on it.
By example:
'remember that old vinyl record that has been in storage for a long time and seems to no longer have daily use, why not sell it online?!'
...today this record can be put up for sale on gigantic and highly recommended platforms like eBay. The consumer (seller) can post the same just by uploading images and have their product purchased by another consumer on the platform.
Now let's imagine this whole scenario using Bitcoin Cash to pay the consumer and then he can use the same amount to buy something he really needs at the moment, like buying a soda paying via BCH.
Benefits of using Bitcoin Cash in e-commerce
Selling on the internet should be simple and fast, without having to give a headache to both the consumer and the negotiator. One thing people tend not to look for products is because they know they have to travel to buy the same. Using e-commerce this distance reduces and paying with Bitcoin Cash makes it even easier.
The business becomes more attractive and the payment method even more desirable. Consumers can pay for products and have speed and security in their transactions, not to mention that it saves time and money as trading fees are very cheap, not costing additional money for the consumer customer.
Many retailers like to sell online and have their product purchased and paid for outright, payment methods like Bitcoin Cash as digital money are very important for them, there is no delay and confirmations on payments are fast and secure.
Not to mention that the internet is so big, that the consumer can get everything and there are no limits to what he can buy, social networks today are also good platforms for e-commerce sales and reach a certain target audience to buy products, many of these consumers only buy products if they can pay using decentralized currencies, and Bitcoin Cash fits perfectly here. The good thing about using e-commerce paying with Bitcoin Cash saves money and can also take many people to the purchase and sales platforms as they buy without having to worry about paying using conventional methods, which in the end must be declared to the tax authorities, if they are of large sums.
Using Bitcoin Cash for payments is simple, practical and dynamic, combined with an e-commerce business can greatly benefit both parties, seller and consumer. The seller has their purchased material paid for, almost instantly and the consumer has the product purchased saving money on transactions, not to mention that using Bitcoin Cash every product can be purchased without borders as it works all over the world.
To conclude
Combining an e-commerce business with the way to pay via Bitcoin Cash brings good benefits, but there are still many people who are afraid to bet on this payment method because many e-commerce businesses are traditional but step by step it will be accepted. For example, consumer-to-consumer businesses in many parts of the world are already using Bitcoin Cash as a means of payment, special in countries where the traditional financial system is broken.
Countries such as Venezuela, Thailand, Australia, already have business incorporated with payment method by Bitcoin Cash. E-commerce will expand its payment methods and I'm sure many will use Bitcoin Cash. Large corporations that incorporate e-commerce websites such as PayPal or Spotify, will offer this method of payment to their customers in the future and it will be of great value to the consumers.
Bitcoin Cash is for e-commerce and the world by accepting this method of payment for use in these businesses will be opening the way for the consumer to be able to choose how to pay for the products and also give greater visibility to the currency in the world with digital smart money for the world.
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I wonder if here in the Philippines BCH is used in payment method