Crypto
What are the Latest Trends in Cryptocurrency and E-Commerce? – Block Telegraph
The intersection of cryptocurrency and e-commerce is a rapidly evolving space. To shed light on this, we’ve gathered insights from six industry experts, ranging from Directors of Blockchain Business Development to PR and Media Managers. They discuss trends from Web3 integration in e-commerce platforms to the growing acceptance of cryptocurrencies by retailers. Dive into their insights to understand the future of this intersection.
- Web3 Integration in E-Commerce Platforms
- Lowering or Eliminating Transaction Fees
- Using Cryptocurrency Rewards as a Customer Incentive
- Cryptocurrency Acceptance Revolutionizes E-Commerce
- Understanding E-Commerce and Cryptocurrency via Blockchain
- Growing Acceptance of Cryptocurrencies by Retailers
Web3 Integration in E-Commerce Platforms
E-commerce platforms like Shopify are accepting cryptocurrency for payments and are integrating software solutions that allow their large customer base to onboard into web3 in a user-friendly manner.
Any e-commerce company not thinking about how to get a piece of the $2 trillion dollar cryptocurrency market cap should re-evaluate its value proposition because they’re going to be left behind.
Beyond e-commerce companies, I see some of the biggest enterprises in the world looking to future-proof their loyalty and reward programs by integrating web3 and AI to create a more user-friendly and tradable asset for their customers.
Erik Mendelson
Director of Blockchain Business Development, OneOf
Lowering or Eliminating Transaction Fees
Cryptocurrency will make a significant impact on e-commerce soon. There are many trends I am seeing, one I am noticing that is extremely impactful for accelerated adoption is the lowering or elimination of transaction fees for retailers.
Traditional payment methods involve transaction fees, especially for cross-border transactions. Cryptocurrency will reduce or eliminate these fees.
This will be a big boom for e-commerce businesses, as they can save on payment processing costs and this extra margin will be very motivating for these merchants and lead to increased adoption of stable cryptocurrencies such as Tether which is pegged to the US Dollar and has very minimal volatility.
Lori Fields
Founder, Director of E-commerce, and Amazon Strategist, Jay Street Partners
Using Cryptocurrency Rewards as a Customer Incentive
The trend of using cryptocurrency as a means of incentivizing customer behavior in e-commerce involves offering cryptocurrency rewards to encourage customers to perform certain actions.
This can greatly impact the e-commerce industry by increasing customer engagement and loyalty. By offering cryptocurrency rewards, businesses can tap into the growing interest in cryptocurrency and attract a new segment of customers.
Additionally, this trend can help to reduce the costs associated with traditional loyalty programs. For example, Lolli offers cryptocurrency rewards for shopping online and referring friends, encouraging customers to return for more purchases.
Ben Lau
Founder, Featured SEO Company
Cryptocurrency Acceptance Revolutionizes E-Commerce
The trend of cryptocurrency gaining acceptance in e-commerce is reshaping the industry. With faster, more secure transactions, reduced fees, and increased privacy, digital assets are revolutionizing online commerce.
This growing adoption will create a more inclusive and decentralized future for e-commerce. The use of digital assets not only reduces transaction fees but also provides increased privacy and control over personal financial information.
Marco Genaro Palma
Co-founder, TechNews180
Understanding E-Commerce and Cryptocurrency via Blockchain
If you are interested in how cryptocurrency and e-commerce are related, you might want to learn about blockchain technology. Keeping track of transactions that do not depend on a central authority is the main purpose of this tech. It allows for smart contracts, which are agreements that can run automatically and save time and money.
I recommend Cryptocurrencies: Guide to Getting Started. This book is a great resource for technology leaders who want to try out cryptocurrencies and blockchain for themselves. You will get to know how to buy and sell cryptocurrencies and how to create decentralized applications. The book is easy to read and has many examples and pictures.
Ilan Nass
Chief Revenue Officer, Taktical
Growing Acceptance of Cryptocurrencies by Retailers
The key trend that we have noted is the increasing acceptance of cryptocurrencies such as Bitcoin as a form of payment by online retailers. This trend is driven by factors such as the growing popularity of cryptocurrencies, the requirement for faster and more secure transactions, and the potential for global reach without the need for traditional banking systems.
Accepting cryptocurrencies opens up new markets and customer bases for businesses, as cryptocurrency users from around the world can easily make purchases. A reduction in transaction fees and no chargebacks are also big benefits for both retailers and customers. Additionally, the use of cryptocurrencies can enhance security and privacy in online transactions, as blockchain technology provides a decentralized and transparent system.
Integrating cryptocurrencies into e-commerce has the potential to revolutionize the industry, providing new opportunities for businesses and offering customers greater convenience.
Rosemary Barnes
PR and Media Manager, CoinPayments
Related Questions
Crypto
Cryptocurrency Software Market : Opportunity Analysis and Industry Forecast, 2023-2032
According to the report published by Allied Market Research, Cryptocurrency Software Market : Opportunity Analysis and Industry Forecast, 2023-2032. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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The cryptocurrency software market encompasses all software products and services related to cryptocurrencies. This includes platforms for trading, investing, managing, and securing cryptocurrencies, as well as software for blockchain development, wallet management, mining, and compliance. Key participants in this market include cryptocurrency exchanges, wallet providers, blockchain development platforms, and companies offering security solutions for cryptocurrencies.
The cryptocurrency software market is segmented on the basis of types , application and region.
By Types
● Cloud Based
● Web Based
By Applications
● Large Enterprises
● SMEs
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By Region
● North America (U.S., Canada, Mexico)
● Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
● Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
● LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Companies identified in the report are Poloniex, Bitfinex, Kraken, BTCC, Bittrex, Kucoin, LocalBitcoins, Electroneum, Binance, Coinbase, Cryptopia.
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Market Trends are :
DeFi and Decentralized Applications (dApps) Growth:
DeFi Expansion: Decentralized Finance (DeFi) is transforming traditional financial systems by providing decentralized alternatives to banking, lending, and trading services. DeFi platforms utilize smart contracts on blockchain networks, offering users greater control over their assets and reduced reliance on traditional financial intermediaries.
dApps Proliferation: Decentralized applications (dApps) are gaining traction in various sectors, from gaming and social media to supply chain management and real estate. These applications operate on blockchain networks, ensuring transparency, security, and user autonomy.
Increased Focus on Regulatory Compliance and Security:
Regulatory Compliance: With growing governmental scrutiny, cryptocurrency software providers are increasingly focusing on compliance with regulations such as anti-money laundering (AML) and know your customer (KYC) requirements. This trend is driven by the need to build trust and legitimacy in the eyes of regulators and users alike.
Enhanced Security Measures: Security remains a critical concern in the cryptocurrency space due to frequent incidents of hacking and fraud. As a result, there is a heightened emphasis on developing and integrating advanced security features, such as multi-signature wallets, hardware wallets, and biometric authentication, to protect users’ assets and data.
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Crypto
Man Invests $10,000 in Cryptocurrency, Earns $3 Million in 30 Minutes
In what can be called the greatest trade of 2024, a cryptocurrency investor put in $10,000 and earned $3 million. The trade was completed in just 30 minutes making the investor turn into a millionaire in the shortest period possible. This is what dreams are made of and the investor turned the dream into reality this month.
Also Read: Which Cryptocurrency Could GTA 6 Integrate in the Game?
Cryptocurrency Investor Turns $10,000 Into $3 Million in Just 30 Minutes
So how did the investor turn $10,000 into $3 million in 30 minutes? Well, the investor took an entry position into BAKED cryptocurrency on July 1, 2024, purchasing 70 Solana (SOL) for under $10,000. The investor swapped the Solana tokens to BAKED and accumulated 82 million tokens.
Also Read: BRICS: Saudi Arabia Makes Massive Oil and Gas Discovery
Just 30 minutes after buying BAKED cryptocurrency, an investor sold it for 21,581 Solana (SOL). This means that the investor made $3 million in the cryptocurrency in less than an hour after purchasing it. Leading on-chain metrics firm Lookonchain was the first to dish out the transaction on the blockchain.
Also Read: Data Breach: US Bank Exposes Customers Name, Acc Number, Date of Birth
However, doubts arise if the investor is an insider or a genuine trader who just got lucky. Investors use the cryptocurrency ‘snipping’ method and buy tokens just hours before it gets listed and open for trading. This gives them the leverage of being a step ahead before other investors begin to purchase the tokens. BAKED saw a listing on the Bitget platform opening the floodgates to new investors.
There are several other stories where cryptocurrency investors just got lucky and made millions in a short period. While these stories are promising, there are only a handful of them that actually made it. The majority of holders have lost money in the markets and only dream of making it big. Luck favors a few while the others mostly face the wrath of the broader cryptocurrency market.
Crypto
Cryptocurrency Titans Bitcoin and Ethereum Poised for Robust July Based on Historical Patterns
As tradition guides us in the financial world, history often sheds light on what might be forthcoming. In this context, July has consistently proven to be a favorable juncture for the titans of the cryptocurrency market, Bitcoin and Ethereum. As we gingerly step into July, market experts are observing with keen interest, the patterns of the past, hoping for another lucrative period in the digital currency realm.
Time-honored market pundits from QCP Capital have deduced that over the years, Bitcoin has shown a median yield of 9.6% in July, bearing a consistent pattern of recuperating substantially after a rather lethargic performance in June. This year, following a dip of roughly 10% in its June performance, Bitcoin is set to possibly see an uplift this July, guided by these historical pointers.
Adding more colors of positivity to this promising picture, David Duong and David Han, two-discerning analysts from Coinbase, have affirmed this trend. They reckon that the expected bonanza of liquidity in July could provide an additional springboard to the market.
June’s downturns have purged the financial market of excess, potentially smoothing the path ahead for more secure and optimistic price shifts. Furthermore, Bitcoin and Ethereum’s trading volumes, which include spot and futures transactions on global exchanges, dwindled from $90 billion in May to $75 billion in June. Market watchers perceive this constriction in trade volumes as laying a sturdier groundwork for the next surge of market activity.
The favorable July seasonality has not been exclusive to leading cryptocurrencies but is also buttressed by broader market dynamics. Analysts including the likes of Ali underscore that recovery patterns ensuing June’s lapses historically denote a “vigorous bounce back” in July performances.
This observation holds notably true for Bitcoin, which has consistently delivered an average return of approximately 8% during this period.
The recent technical analysis of Bitcoin’s price fluctuations also provides credence to the hypothesis for a bullish July. Bitcoin noted a significant upsurge of 2.7% in just the past 24 hours. Now trading at $63,104, Bitcoin has started the month on a strong note. This recent rise has nudged its weekly gains also to 2.7%, echoing an uptick in investor confidence.
However, predictions are not without their hurdles. Factors including macroeconomic influences and regulatory advancements could still steer cryptocurrency prices in a direction contrary to expectations. And while analysts maintain an optimistic outlook based on statistical and historical evidence, the characteristic volatility of the cryptocurrency markets implies that significant deviations from past trends can still transpire.
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