While the world seems to be busy figuring out how the cryptocurrencies will shape the future, some businesses are doing their best to help the world make use of cryptocurrencies today.
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One of the ways how these companies are making cryptocurrencies accessible in people’s daily lives – as opposed to being merely investment tools – is through online purchases. Yes, we’re talking ordering shoes on Amazon and topping up your prepaid SIM card with the cryptocurrency of choice made as easy as entering your credit card details.
The industry is young, the prices are volatile and the future is unclear – no wonder relatively few online retailers have jumped onto the cryptocurrency payment bandwagon. They simply don’t want to take the multiple risks, associated with taking cryptocurrency for their products.
TheBigCoin – one of the fastest growing cryptocurrency payment processors – doesn’t mind taking the risk to connect the two audiences – customers who purchase products in cryptocurrencies and the retailers who are looking to accept those purchases.
How does it all work? From the consumer’s point of view, you simply copy-paste the URL of a product you’re interested in, enter all of the necessary product details (like color and size) and fill in your shipping data. There’s also an option to skip the shipping address – in case you’re ordering a digital product – which makes the order completely anonymous.
At the end of this short process, you’re given a choice of five cryptocurrencies to pay with – Bitcoin, Ethereum, Litecoin, Monero and Dash – and a unique digital wallet address to transfer your payment to.
At the top of the window, there’s 15-minute timer that starts counting down as soon as you enter the page. See, you have to make your payment before the timer runs out due to the volatile nature of cryptocurrency prices.
TheBigCoin claim that they can process purchases at all online stores or service providers. Indeed, after a few lazy tries with Amazon and Overstock products, we’ve been comfortably convinced that TheBigCoin works with all of the products on a huge number of retail sites.
General thoughts on buying products in cryptocurrencies through TheBigCoin? It’s a new concept, and the fact that it’s entirely anonymous did make us slightly aware of the fact that it’s not your traditional PayPal payment. However, after having read numerous testimonials from customers who’ve successfully made purchases in Bitcoin using TheBigCoin, we’re convinced it’s only a matter of time before the service is established as the go-to spot for Bitcoin purchases.
Therefore, the only two questions we ought to be asking about TheBigCoin are does their service work and, if it does, is it safe? In this case, the answer is yes to both, which makes it a 10/10 for us.
However, there’s a flipside to the ‘Coin. Many online retailers are just as interested in partnering with TheBigCoin to unlock new target customer groups and increase sales by accepting cryptocurrency payments.
Luckily for business owners, implementing cryptocurrency payments on your e-commerce system is as easy as installing a plugin and setting up your digital wallet. Currently, TheBigCoin is compatible with WooCommerce, Magento, OpenCart, PrestaShop, OSCommerce, VirtueMart, VHCMS and Zen Cart.
The entire process is completed by creating an account on TheBigCoin’s website (no personal data, just an email address and your shop’s name required), and installing the respective plugin on your e-commerce platform. The cryptocurrency payment options will appear among the existing ones shortly on your website, and the only thing left for you to set up will be your digital wallet’s address.
The fees? A modest 0.9% for all of your transactions – the lowest in the market. Compared to the competition, who charge 1% and above for each transaction, and credit card providers, who take 2-3% off every payment, TheBigCoin’s competitive advantage is hard to argue with.
As opposed to many of their competitors, TheBigCoin also offer conversion-oriented payment/checkout pages. The majority of cryptocurrency payment processors still seem to be familiarizing themselves with the concept of UX. TheBigCoin’s payment pages really show how payment page UX should be handled.
TheBigCoin offers a service that is anonymous, safe, and – most importantly – works. It definitely has room to grow and certain features feel a little robust, but in an industry as volatile and young as cryptocurrency payments today, they’ve achieved what many would consider impossible.
The company is an innovator in its field, and uses new concepts and ideas to connect interested shoppers with online retailers. We’re excited to see this company grow and create the future of online purchases.
Thanks to them, the world is offered a real, day-to-day application of cryptocurrencies. Online buyers have the option to quickly and safely buy products in five cryptocurrencies on more than 50,000 retailers’ websites worldwide (big-time names like Amazon and Overstock included), and businesses can open their services up to new, well-paying customers by simply making an account and installing a plugin within minutes. A win-win-win situation, which makes it a strong 10/10 for us.
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