Bitcoins & On-line Retailing

[GAUMZEE]

In a country like India were On-line retailing is growing, can bitcoin & other crypto-currencies play an role also can they be used for loyalty program's for off-line & on-line retailers ?

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[1714632469]

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[Wipro]

In a country like India were On-line retailing is growing, can bitcoin & other crypto-currencies play an role also can they be used for loyalty program's for off-line & on-line retailers ?

Yeah payment API can be added to e-store for that people who involved by leading the online retails in your country. Else you will not be able to have the bitcoin as a payment to purchase in the online stores.
I see the bitconnect and some other coins has been still active your country. Try to contact them to support the e store projects to make the more money.

[mukabokep]

I think it's very possible as long as there are companies or devlopers that facilitate it so it will be able to walk easily

but there is a problem that often occurs on the sale of goods offline prices tend to remain unchanged while crypto currency we all know the price is very volatile from time to time this will complicate the sellers and buyers because the value of goods that are not stabilized

[reflector]

I think it's very possible as long as there are companies or devlopers that facilitate it so it will be able to walk easily

but there is a problem that often occurs on the sale of goods offline prices tend to remain unchanged while crypto currency we all know the price is very volatile from time to time this will complicate the sellers and buyers because the value of goods that are not stabilized

Having bitcoin as a payment in online retailer shop is worst for the payers only not give burden to online store owners because bitcoin price will increase future since it is so volatile in nature. If you are payer to the site with the bitcoin you only loose the fees and the expected profit with the bitcoin have in future.
If they have a paypal or skrill or etc... nothing will be act lik bitcoin and will never also you loose your own money.

[LuanX3]

I think it is possible, but to be honest prices are quite high right now and fees are pretty much exorbitant. Sending just a few dollars will likely cost a huge chunk of the value due to fees. It will be plausible only if the platform will use other cryptocurrencies that have smaller transaction fees, like DOGE? Since those kinds of crypto have super small fees and its actually negligible.

[mrcash02]

Bitcoin can be used for anything fiat is used. India is a very connected to technology country, it's inevitable sooner or later Bitcoin start being used by retailers and loyalty programs. But now I'm not sure if India's government is against Bitcoin or not, I have seen some rumors that they were, especially because the several scam schemes being run there.

[MJunioR]

I guess so, the biggest factor there is how the working population receive Bitcoin. From what I head, India people are pretty much open to new technologies so on India BTC main becomes mainstream before countries with people who are afraid of virtual currency.

[teddy5145]

Having bitcoin as a payment in online retailer shop is worst for the payers only not give burden to online store owners because bitcoin price will increase future since it is so volatile in nature. If you are payer to the site with the bitcoin you only loose the fees and the expected profit with the bitcoin have in future.
If they have a paypal or skrill or etc... nothing will be act lik bitcoin and will never also you loose your own money.

This can be easily fixed by using third party API such as Bitpay or Coinbase, bitcoins will be converted automatically into any currencies once the payment is done, retailers don't need to hassle themselves with volatility of cryptocurrency while spreading their service with more possibilities.

I rarely seen retailers developing their own payment system anyway, even steam uses Bitpay.

[genocide]

If the price of the goods are not so expensive then I agree with the idea of using another cryptocurrency instead of bitcoin since it will take a huge percentage of payment as transaction fees. Some other people already accept bitcoin as payment when selling digital goods. It's actually a nice idea to add cryptos as another mode of payment in online retailing. This would be done easier if the project will be able to get much more support.

[BillCoin]

If the price of the goods are not so expensive then I agree with the idea of using another cryptocurrency instead of bitcoin since it will take a huge percentage of payment as transaction fees. Some other people already accept bitcoin as payment when selling digital goods. It's actually a nice idea to add cryptos as another mode of payment in online retailing. This would be done easier if the project will be able to get much more support.

I also support the use of other crpyto currencies, specially Litecoin, who acts as the Bitcoin's silver.

Bitcoin fees are high because it provide high amount of security to big transactions, but if your transaction is not big( for an example, buying coffee at a coffee shop), I am pretty sure that you don't need this amount of security that the bitcoin network provides and paying with an altcoin such as litecoin would be a very good solution to this case.

Fees are smaller, security is a bit smaller but you don't need it for buying a coffee.


 

[yojodojo21]

If you are referring to a bit coin blockchain wallet site that supports paying via crypto, it would really be. Wallets must have like this, I know India is simply adopting bitcoin and embracing it's help to the economy.

[batang_bitcoin]

In a country like India were On-line retailing is growing, can bitcoin & other crypto-currencies play an role also can they be used for loyalty program's for off-line & on-line retailers ?

Yes it can be, you only need someone that is very familiar with the blockchain technology and knows what are the things to do. Bitcoin and other cryptos are also adopted now in some stores here locally. But never seen a retailing company that adopted it already. If you are into loyalty program, cryptos are good for it.

[Kevin77]

In a country like India were On-line retailing is growing, can bitcoin & other crypto-currencies play an role also can they be used for loyalty program's for off-line & on-line retailers ?

Yeah payment API can be added to e-store for that people who involved by leading the online retails in your country. Else you will not be able to have the bitcoin as a payment to purchase in the online stores.
I see the bitconnect and some other coins has been still active your country. Try to contact them to support the e store projects to make the more money.

Bitpay has even made it easy for some who may want to convert immediately and directly into fiats.
Some wallets have APIs like you said that can be integrated into an ecommerce site to be able to get exchanges done pretty fast.
I believe things are going to change pretty fast in coming years and there would be a lot of development, and it would be good for merchants who can be early adopters now. Early adopters are always the one to get the best out at the end.

[inbitcoiner]

I think Blockchain's Receive Payments API V2 is another good option for bitcoin payments online store integration

[St4yInTh3D4rk]

In current situation bitcoins can not be used for all online retailing because of the transaction fee so bitcoin community need take steps for reducing the bitcoin transaction fee in the coming years then many people will pay as bitcoin for buying their products.Currently only big trades are happening with bitcoins like buying bulk orders paying with bitcoin.

[kuroman]

In a country like India were On-line retailing is growing, can bitcoin & other crypto-currencies play an role also can they be used for loyalty program's for off-line & on-line retailers ?

Considering the banking system integration is not great especially in rural areas according to different websites, I believe bitcoin can play a huge role, since it doesn't have a competitor, and implementing a banking system would be hard, the only thing I see that could be remotely competitive, is mobile banking which starting to get traction these days.

[beerlover]

I think it's very possible as long as there are companies or devlopers that facilitate it so it will be able to walk easily

but there is a problem that often occurs on the sale of goods offline prices tend to remain unchanged while crypto currency we all know the price is very volatile from time to time this will complicate the sellers and buyers because the value of goods that are not stabilized

Certainly, cryptocurrency is volatile, but it must be a risk one is willing to take as a merchant to start something like this. While some are paying and the value increases, the same thing can happen the other way round, but at the end it can still be balanced out.

Yes, bitcoin has had some pretty huge spikes lately, but when I started few months back, I guess I have ended up having more than enough profit I could envisage from the growth in value of bitcoin alone after leaving some of the funds in the wallet a bit after.

[Aamir1]

I think it is possible, but to be honest prices are quite high right now and fees are pretty much exorbitant. Sending just a few dollars will likely cost a huge chunk of the value due to fees. It will be plausible only if the platform will use other cryptocurrencies that have smaller transaction fees, like DOGE? Since those kinds of crypto have super small fees and its actually negligible.

Using another cryptocurrency in a e-store doesn't seem logical to me as no other cryptocurrency has a user-base like Bitcoin does. If a company or online store starts to accept another cryptocurrency other than Bitcoin just for the lower fees, they won't get a lot of customers using that currency. So if the time is not right in present, they should wait for some time until all the things get settled and the fees gets quite normal again and then they should start accepting Bitcoin, but i don't think using another digital currency can be a good idea for any store.

[youghten]

In a country like India were On-line retailing is growing, can bitcoin & other crypto-currencies play an role also can they be used for loyalty program's for off-line & on-line retailers ?

Yes, India is huge market and have kind of accept for bitcoin so it is good and you can try without problem.

if find many posts like this  will update it later so they can help you.

[malikusama]

In a country like India were On-line retailing is growing, can bitcoin & other crypto-currencies play an role also can they be used for loyalty program's for off-line & on-line retailers ?

Yes it (bitcoin) can be used as like in the western countries where many stores and restaurants are accepting bitcoin as alternate payment method. But now observing the current scenario there is high fluctuation in the price and it would be difficult for retailers to set the price of a product or service in this instability.