There has been debate about how easy it is to use cryptocurrencies on a day-to-day shopping and applications. From this coffee dispenser that's modified to accept crypto, to many renowned retailers and websites that accept cryptocurrencies, the debate is far from ending.
TheBigCoin, which is an online leading shopping platform that accepts cryptocurrencies, has now reached a milestone of 300,000 in total orders from customers according to their latest press release. The shopping platform, which allows customers to pay flights, hotels, vehicles, rentals, online subscriptions and anything else they wish, reached that milestone this week.
What's good about Thebigcoin compared to other platforms that allow users to pay with cryptocurrencies is that you do not have to be restricted to a certain store that accept cryptocurrencies in order to pay with it. No! You can pay with cryptocurrencies on any online store worldwide, just the same way credit card payments work. This is real big because even as we talk cryptocurrencies and their adoption, a lot of merchants are afraid of volatility and other issues and cannot accept cryptocurrencies for now.
Again, most crypto holders just choose to trade cryptocurrencies, speculate or simply keep it as an investment and the bad news is that 99% of the online stores still don't accept it! So this solution works great for anybody willing to spend crypto to purchase -- buy anything, anywhere, anytime with cryptocurrency can unlock potential for adoption big time because "spendability" of cryptocurrencies improves with that. If a shop or retailer or wholesaler does not accept cryptocurrencies, "that's fine too" is the idea here. Actually, their idea is to achieve mass adoption of cryptocurrencies.
Even the 1 percent of stores that accept crypto, many accept only the mainstream coins and tokens. What I mean by this is that if a store was accepting cryptocurrencies, currently you find that many of these stores usually do not accept all of cryptocurrencies -- they could be doing Bitcoin, Ethereum and some few coins while still leaving a host of others uncovered. Again, many of them do not have internal conversions. So if I had for instance Divi tokens and my target store that is selling the product I want accepts only Bitcoins, currently I might certainly have to rely on conversion from Divi to Bitcoin -- most likely in an exchange market or some other platform that offers conversions -- then come back to my target store to buy my product.
Therefore, there is huge fragmentation within digital online payment technologies themselves. For instance if I had Bitcoins in my wallet, I should be able to use it easily, freely and at low cost on platforms that accept Ethereum only as payment method without necessarily doing conversions on a different platform -- even though that conversion was necessary -- because that would definitely mean that there is also a "middleman" platform factor in the sense of it.
So even within different cryptocurrency technologies especially merchant tools themselves, a lot of work needs to be done with regard to interroperability. Of course, currently most merchant tools allow any merchant to accept as many cryptocurrencies as possible without need for doing conversion on the part of the seller. If a seller accepts the cryptocurrency you have then that's great but if they do not, you might need to think about conversion before shopping, which hampers adoption altogether.
Currently, TheBigCoin is allowing people to so spend Bitcoin, Ethereum, Litecoin, Dash, Monero and Dai Stablecoin. You can also request them to pay with your preferred cryptocurrencies through a special order request. You can also send them special requests relating to spending crypto such as renting yachts, etc.
According to their website, they have done volume of transactions up to 6,869 or 56.623 in Bitcoin volume equivalents. They are already trusted by 3851 merchants.
TheBigCoin works really simple: you find the product that you want to buy, go to their website and enter the link to that product on their website, then input in shipping address and send them the cryptocurrency matching an amount that the product should be paid, and you are done. The order is processed within 1-2 hours. The item will be bought by them and then sent to that address which you provided and you can track your order after they send you via email with necessary link. You can also order as many products as possible.
They currently charge 7% and 12% of the order subtotal, or the minimum 5 EUR/6 USD/5 GBP fee per order based on the currency you process your order. And its not manual stuff necessarily: they use automatic order processing technology to process transaction.
TheBigCoin also offers Bitcoin & Cryptocurrency processing service for merchants at a low fee of only 0.9% via their gateway. They support integration with different e-commerce plugins.