Brand completely associated with crypto

[Bushdark]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

There are people who create altcoins and give them value based on there product the market. There are altcoins that are attributed to dogs, for the purchase of dogs, their food, care and donations just like we have doge coin and other coins too in the market that are attributed to dog and there wellbeing. It is very important for us to know the kind of altcoin we want to create and the problems it is meant to solve in the physical world. You can create your own coin and give it some qualities attached to cosmetics so your customers can use your coin to buy cosmetics from different dealers.

[oktana]

That's surely one way for your business to not get off the ground.

My thoughts exactly!

OP, for a fact, you’d expect your business to bring you money, so why crash it by limiting potential buyers? People love to be able to make  choices. I’m an advocate for crypto but I’m not an advocate for forcing things on people (especially in this case where you’ll need to make sales.) In my opinion, you should rather accept both fiat and crypto. This way, you have normal users who are purchasing yet learning that you accept crypto and thinking of the crypto sphere as growing rather than having a bunch of users attempting a purchase to see that they can’t make a choice as the payment method is compulsorily crypto. To even make people use crypto more (out of their own will) you can give a good discount for people paying with crypto. Yes, it could get so tempting that people who aren’t in the crypto sphere could be triggered to learn.

[Marvelman]

This thing sounds like a pretty creative idea to me.  That's often how it goes in the entrepreneur world - someone comes up with a funky new concept and it takes off into something big.  But you'd probably want to think about how it would really work for people and  is this altcoin gonna be easy for your customers to get their hands on? And will it really appeal to the folks you're aiming at? I guess theres no reason to limit your potential buyers unless that limitation gives you some other kind of edge.  Overall it seems like an exciting concept, you just gotta work out the practical stuff.

[Silberman]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

Then you will have to file for bankruptcy within a few months, merchants since the profession has existed as such have strove to accept as many currencies as possible in order to increase the number of people they can serve and the profits they can generate, and this is just as true today as it was back then, so by only accepting a specific altcoin for the purchase of your products you will severely limiting yourself to just the users of that coin, reducing your sales and making your business very unlikely to succeed.

[bluebit25]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

That could be seen as a bad business idea, and when someone asks the OP why do that? And are you really serious about combining payments with the service's cryptocurrency, and what do you think the user will accept or even know about crypto?

And more importantly, if you don't want to get into the trouble of duplicating ideas and brands, imagine a series of memecoins created with meaningless content as well as names that really just want to chase the hype spread in the media. It's similar to how you mentioned branding in relation to a market that's generating traction. Seriously looking at the problem and its results in terms of challenges and risks when applied will help you figure out what to do next.

[tvplus006]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

I think that you will lose a large number of potential buyers of your products. Your task as a business owner is to create convenient payment methods that would be available to every customer, and not create a problem for him. Thus, you can use the sale of your products for altcoins as an additional payment method, and not as the main one.

[lalabotax]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

This is not something impossible. This would make sense and could possibly happen. However, this may not be as easy as you imagine. Unless crypto is already used to being used in that area. In fact, crypto has begun to be widely used as a transaction tool, but there are several obstacles that often prevent owners from accepting it. In this case, when you think about certain altcoins, make sure that they are altcoins that really have a high value and market cap. because it will be very risky if you receive new coins, this could be a scam or shit coins.

then, it's a struggle, especially when it's just the beginning.
It certainly won't be easy because you have to introduce it to the public first. Moreover, you also have to start explaining about crypto and introducing them even though at first they may not be interested.

[wheelz1200]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

I mean why would you limit the purchase of something with an altcoin.  Any reason you wouldn't allow someone to buy something with bitcoin?  Sounds like you have a bag that you want to push and are trying to build a reason for people to buy that coin. It's a dumb idea it's not solving anything and you won't make that many sales

[o48o]

A lot of them are men, that doesn't mean that women are not into crypto. Cosmetic doesn't mean that it is associated with only female. Male cosmetics are also available in the market and OP would be selling both as most cosmetics website do.

Good point, and then there are mustache wax and hair products etc. I wouldn't ridicule this idea even though i don't know anything about cosmetics and the competition in that sector. I can't recollect all the things people wanted to sell for crypto, but i am sure that has contained nearly everything already. Shops just sometimes don't make profit, no matter what the currency is.

Also i am hoping that OP knows the crypto taxation of his country because buying and selling products with crypto can be tricky. Which is the reason most people use 3rd party converters.

[Blitzboy]

Should only one currency be used for purchases? This could accidentally limit the number of customers you have, which would limit your market reach. Take some time to think about how easy it is to get the chosen currency and how many people are already using it. Even though its new, a crypto-based transaction system should be easy to use and handy.

Your new way of doing things, on the other hand, might create a niche market of crypto fans who like how exclusive it is. Its very important to find the right mix between small-market appeal and wide appeal. Would the appeal of rarity make up for the fact that customers might be fewer? Finding the thin line that balances rarity with wide reach is the most important thing that needs to be done.

[Wexnident]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

That's one way to start a business but it is available for purchase only using that specific altcoin can be a pain in the ass and might scare away a lot of customers imo. Even with the option of being able to buy that specific altcoin in the shop, most people have shortened attention spans right now so they'd most probably shy away from buying said products still. In addition, it's a completely new brand, so you can't expect a loyal follower base that can help the business stay afloat until the coin gets more notice from others.

Other than that issue I reckon it's pretty good. The same issues from regular businesses would naturally crop up but that's part of the process.

[Husires]

If companies care about convincing people to buy their products, invest millions in advertising, and try to develop advertising methods and improve the price to reach the consumer, then let alone what they offer will add additional difficulty, as the user needs to buy altcoin and use it to pay for your service, and nothing will benefit from it. You are destroying your company, nothing more, and even companies like Microsoft and Apple, if you take such a step, may not achieve success.

[Webetcoins]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

So, you will first market your products to people and then teach them how they can use the 'certain' altcoin to buy the products from you. Don't you think that will be a lot of work and people who aren't already interested in crypto will barely show any interest in your brand and choose a brand that is easier to buy compared to yours? Sorry to say, but I don't think that it's a good idea, especially, because of the situation of the adoption we are in right now which isn't that high.

Such a project or company can only work or run very well if Bitcoin and cryptocurrencies are adopted and accepted all over the world so that you can market your brand all around and people wouldn't have a hard time understanding the process of first acquiring the altcoin and then buying your products with it.

[justdimin]

I think that you will lose a large number of potential buyers of your products. . Thus, you can use the sale of your products for altcoins as an additional payment method, and not as the main one.

Depends on what altcoin he is talkin about. If it's a foreign one then yes but if it's a popular one, not really. Also it depends on the quality of his product. If it's superb, people will always try their best no matter how difficult it is, only to get it.

I still like your suggestion there of using only the alts as additional, so that he can maximize his sale or customer reach, as we believed that some people still prefer the traditional payment methods such as fiat, bank cards, and the likes. It might take some time before all of us transition to the cryptos and other digital forms of payment methods.

Your task as a business owner is to create convenient payment methods that would be available to every customer, and not create a problem for him

If his business is about payment methods, yes but he said his business is about cosmetic products.

[Belarge]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

Choosing an altcoin is easy to understand, but it should be a reliable altcoin, such as USDT or trons, so that transactions remain quicker and safer. Interfering with our business with cryptocurrency projects, I must warn that not all clients would want to go through a lot of stress only to pay for services when they can simply reimburse funds with their debit cards. Though, don't get me wrong, it's a very welcome idea that will also accelerates one's brand to greater heights. Crypto is general, and clients all over the world who understand how to use crypto to pay for services will find it an extremely straightforward means of payment. Profitability of a cosmetic brand is determined by the advertising and packaging choices adopted. Launching a cosmetic brand is quite a great achievement.

[yazher]

Honestly, this is not the right time to do this thing because you might find it hard for other customers to buy your product because they might have no knowledge of crypto or they don't have a crypto wallet yet. This will only be possible if you are in El Salvador which is one of the countries that makes bitcoin legal tender and you can start from there and introduce your platform to them. Also, if you are planning to make it online, then that is better because there are already online stores like that and you can look at their approach on how to sell their products to their customers.

[Kelvinid]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

You can associated any altcoins at you desire, in fact, it was an alternative payment option but of course, choose the right altcoins for your project as this also impacts your product's demand. Some merchants are also using this strategy but they often accept known coins like BTC and ETH which I think it was a good choice rather than choosing unpopular coins.

Apparently, there is no problem provided that you can manage it well. It is just adopting cryptocurrency but you can't expect a fast response from the community.

[Spaceman1000$]

What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.

That would be a fantastic idea, at least it will bring the payment methods of cryptocurrency into the cosmetic world, though I believe some cosmetic agents must also have their payment platform that have brought in cryptocurrency, but if you are having this inborn idea within you to launch yours,  I will advise you give it to trial. You can make use of any altcoin of your choice that you feel is reliable, as long as it makes the idea come into fruition.

[tvplus006]

Your task as a business owner is to create convenient payment methods that would be available to every customer, and not create a problem for him

If his business is about payment methods, yes but he said his business is about cosmetic products.

So what did you see as a contradiction? I am a buyer and I want to buy cosmetic products, but the owner tells me that I have to pay for the purchase only in LTC. But I don't know anything about crypto and it's very difficult for me to figure out how and where I should buy LTC to make a purchase payment. And as a result, I will buy from another seller who has traditional payment methods.

[AakZaki]

Your product will not be that popular if you are thinking about only accepting crypto for your product payments as the crypto community that wants to use their crypto to buy goods is small and they are all over the globe. If you are thinking that this will popularize your brand you are totally wrong. Top online marketplaces already accept some crypto assets along with fiat currencies. You can do something similar to give your customers a better experience but using crypto as a bait to attract more consumers to your brand won't work really well.

Cryptocurrency is actually only optional or another payment option that customers can choose.
Of course, payment by fiat is the main payment. Crypto payments on products sold are just bait to attract those interested in crypto to buy and try transactions.
But this also depends on government regulations regarding transactions carried out with crypto. If it is illegal then don't even try to adopt it, it will only be a problem.