Fashion magazine

How the fashion industry can benefit from crypto payments

With the recent boom in Bitcoin and other cryptocurrencies, the seemingly popular means of digital payment has been making headlines for the conversion over the past couple of years. Whether you think this form of digital currency is a smart investment or not, Bitcoin and cryptocurrencies are here to stay; with the potential to break into luxury fashion. Brands that start accepting crypto payments may see more sales and expansion of their customer base as more people prefer to buy with crypto. Not only can business owners benefit from lower processing fees and instant transactions, there is also no chargeback with crypto payments and less risk of fraud. Here are three great platforms that already allow people to pay with Bitcoin and other cryptocurrencies.

Etsy, the popular global clothing resale marketplace, allows store owners to receive Bitcoin as a form of payment from their customers. Although Etsy does not have an automated processing system in place for Bitcoin, sellers do have the option of directly contacting customers with a Bitcoin payment address. Etsy gives sellers the ability to “add” other payment options to their settings, allowing the Etsy community to have different forms of payment.

Business owners who use Shopify to sell their products, including clothing and jewelry, have the option of accepting cryptocurrencies. After activating a payment method on the Shopify site, you can accept Bitcoin, Ethereum, Litecoin, and other digital currencies from your customers. With payment gateways like Coin payments, which are very easy to install on your eCommerce site, business owners can easily accept crypto from their customers.

eGifter is an online service that allows you to use your earned Bitcoin to purchase gift cards for places that do not directly accept Bitcoin and cryptocurrency, such as JCPenney, H&M, Amazon, Kohls, Pacsun, and Sephora. It is an easy and accessible way to access clothing purchase via Bitcoin.

Key words:
crypto payments, egifter, etsy, Fashion and Crypto, shopify, summer-2021

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