Unilever's Schmidt Naturals Website Now Accepts Bitcoin Payments

Consumers Can Now Use Bitcoin as Payment

Most consumers know of Schmidt Naturals as a brand that creates personal care products. However, in their recent changes to their infrastructure, they’ve made changes to accept bitcoin payments through their online shop.

The Unilever-owned company was featured on CNBC with co-founder and chief executive Michael Cammarata taking the lead. In his discussion on the show, he expressed that their change was the response to the growing needs of their consumers, and their desire to meet those needs. He said, “Some of the subscribers were like, ‘Hey, we want to be able to pay in bitcoin,’” on May 15th, 2018.

To process these transactions, Schmidt Naturals has partnered with BitPay as their foundation. In the interview, the reporter expresses a popular notion by beginners in the crypto world, which is the high cost of bitcoin. He posed the question, with bitcoin costing several thousand dollar a piece, “how do you buy a little deodorant with bitcoin?”

Cammarata continued to express the ability to use bitcoin for any of the small or large purchases from their online store, since consumers are able to use a fraction of the bitcoin as well. Each bitcoin has the ability to be broken down into 100 millionths, or $0.0000792 presently, since the current value of a bitcoin is $7,920.90. These 100 millionths are referred to as a satoshi when broken down. The bitcoin can be broken down into units that dollars simple cannot.

One of the ideas that Cammarata suggested is that many of their customers will probably use their bitcoin in effort to sign up for one of the monthly or yearly subscriptions available. Every package can be altered to meet the needs of the individual customer, which is incredibly beneficial for parents that are trying to stock up on hygiene products for college-age children.

The only cryptocurrency that Schmidt Naturals presently accepts is bitcoin, but that’s temporary. The company wants to eventually expand to other cryptocurrencies, but they are presently using bitcoin during their trial run to determine if the use of this payment system is worth the benefits. Bitcoin was the obvious choice for them, considering how divisible it is.

Along with Schmidt Naturals, other online retailers like Overstock, Newegg, Expedia, and Shopify are offering the ability to integrate cryptocurrencies as payment. In fact, Overstock announced this new form of payment acceptance back in January 2014.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

“Nothing Compares to My Bitcoin Bet,” Says Social Capital CEO Chamath Palihapitiya

Bitcoin was the best performing asset of the last decade, and in 2020, it remains a winner again. Compared to the S&P 500 hitting a...

The XRP Ledger Foundation Launches To Accelerate XRPL Adoption And Development

The XRP Ledger Foundation, a non-profit, announced its official launch on September 24. The Ledger Foundation would be responsible for supporting the development as...

Bitcoin Trading Like a ‘High Beta' But Social Sentiment Remains Subdued

After a somber start of the week, Bitcoin is all set to end it on a higher note. In the late hours of Thursday, the...

Ant Group Launches Blockchain-Powered Cross-border Trade Settlement Platform ‘Trusple'

Ant Group, owner of mobile payment app Alipay, launched a blockchain-powered platform for cross-border trade settlements this week. The move came ahead of its...

IRS to Revise Form 1040 to Make it Harder for Traders to Escape Crypto Tax Obligation

The Internal Revenue Service is planning to change the 2020 tax form and make sure all taxpayers report about their cryptocurrency transactions. The standard 1040...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today