ClearTracks, an online music marketplace for independent artists, has integrated Bitcoin payments into their platform. ClearTracks has partnered with Coinbase, which will be processing digital currency transaction on their behalf.
ClearTracks also integrated micro transactions via PayPal, which brings down transaction costs down to $0.06, which is still a big decrease from the traditional $0.30 cost that is charged by credit card processors.
“Traditional payment processors charge a minimum of $.30 +2.9%. This means that if you want to buy a song from your favorite artist, the first $.31 goes to the credit card company.”
Digital currency payments require the sender to pay a small transaction fee, and that means that artists get 100% of the proceeds from every sale.
“Well, before, tracks were $.99 and up, but a lot of that went to payment processing and to the label. Now, an artist can go direct to fans at a very low price and still make far more than they would from streaming plays.“
ClearTracks currently hosts some prominent electronic artists such as Niki McNally and THE SCUMFROG, and several other labels.
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Bitwise Asset Management has just made its first move into tokenized funds, and it comes…
Binance just made a move that blurs the line between crypto exchange and traditional brokerage…
NEAR Protocol has had a month that most blockchain projects would stretch across an entire…
Something is becoming increasingly clear about Chainlink, the integrations are not slowing down. The protocol…
Blockchain investigator ZachXBT has flagged a major stablecoin freeze that is sending shockwaves through the…
From a primarily interest rate swap niche product, Exponent has developed into an onchain capital…