Coinbase Commerce Enables 2.7 Million Stores to Accept BTC, ETH & LTC Payments
Coinbase Commerce Ensures that Token Holders Can Use BTC, LTC, And ETH For Purchases
Coinbase has been, and presently is, one of the most flexible and supportive platforms in the crypto sphere. They have multiple features and products for consumers to enjoy, which means plenty of opportunity for retailers and merchants as well.
Recently, Coinbase decided to revamp their landing page, which was announced via this Twitter post:
“ Our shiny new landing page is live at https://commerce.coinbase.com. Accepting cryptocurrency with Commerce is fast and free; the way online commerce should be. And of course you can be your own bank. h/t to @slavakim_ @carlcortright @tbtstl for all their hard work!”
For retailers and merchants, Coinbase offers the Commerce platform, which has been helping to expand the ways that consumers can spend their tokens, rather than directly investing them. The reason that the company decided to overhaul the website has to do with bringing in other retailers that are willing to participate in crypto payments. The features listed on the website are that it:
- Is “up and running in minutes,” though users will need to install and setup the support they need for their website, which now takes a few minutes, instead of waiting several days in a row.
- Is “free,” as the Commerce website has no fee for integration, making the use of these payments easier to accept for every retailer.
- Allows the retailer to “stay in control,” since the whole website is based on peer-to-peer transactions.
- Is “secure and trusted,” which has been a quality that Coinbase has earned during its six-year lifespan so far.
Kevin Rooke, who is an advocate for both crypto and decentralized technology as a whole, took to Twitter to announce that there are 2.7 million outlets online that accept the main four cryptos – BTC, BCH, LTC, and ETH. He also noted that making these transactions a possibility with direct transfers reduces the cost for merchants and buyers. There are still millions more stores that can be added right now, but there are only about 2,000 online merchants with crypto acceptance.
With the market having all-time lows within the last month, the crypto volumes for retail merchants is still low. A Chainalysis report even showed that Bitcoin only accounted for $60 million in online payments in May, as opposed to $412 million in September last year. However, many investors and consumers hope to see this kind of purchasing start to rise again, which is a necessary step on the road to widespread adoption.