Two areas which are registering the significant amount of growth currently are e-commerce and cryptocurrencies. With lives becoming increasingly fast-paced there is negligible time left with the working class to go to brick and mortar stores for shopping. Thus, a bulk of the world’s population, with internet access, prefer shopping over e-commerce stores so that the required articles are delivered straight at their doorstep. With cryptocurrencies revolutionizing the global financial scenario e-commerce stores are pretty keen to tap on the ultimate growth potential that the usage of digital tokens can offer. However, there is a multitude of cryptocurrencies out there and it is pretty difficult for an e-commerce business to choose the best one. In this post, we are attempting to solve the issue of selection by providing Dagcoin as the best cryptocurrency for e-commerce platforms. Following are some of the major advantages and benefits that e-commerce platforms could reap from using Dagcoin cryptocurrency as one of the modes of payment.

How E-Commerce Stores can benefit from Cryptocurrencies?

• Reduction in Transaction Fees

The DagPay business platform for business platforms charges only 1% of the sales as the transaction fees as opposed to 3% being charged by major credit card companies. Moreover, the transaction fees don’t remain at 3% all the times. For example, if the payment is received from an international customer there are multiple hidden charges levied and are added up in the final transaction fee. However, in the case of Dagcoin cryptocurrency, there are no hidden costs in any scenario. The transaction fee is 1% and stays flat in all cases.

• Transactions are Faster

Though blockchain is, indeed, facing the issue of incrementing transaction confirmation time, solutions have been implemented to bring about a significant improvement in the same. However, now there is a new leader in the cryptocurrency universe termed as DAG-Chain. In a DAG-Chain, transactions get confirmed through the transactions themselves and there is no role of an external miner in the same. Hence, Dagcoin cryptocurrency and others, which are based on DAG-Chain, have revolutionized the speed of a financial transaction. Moreover, as mentioned in the first point, Dagcoin has got its own business platform for e-commerce companies termed as DagPay which can be conveniently utilized for transactions done in Dagcoin cryptocurrency.  

• No Middle Man Involved

This is one of the significant benefits of accepting cryptocurrency payments that there are no middlemen involved. Money flows from peer to peer without any sort of intervention. This makes cryptocurrency transactions instant, cheap and extremely secure. It is needless to mention over here that security of an online transaction is the biggest concern of an online business as well as the consumer who is paying over the internet.

• Security at its highest level

There is no scope of fraud in the case of Dagcoin cryptocurrency payments or any cryptocurrency payments whatsoever. This is because a payment done in cryptocurrency cannot be reversed or brought back as the transactions are stored and recorded on the online public ledger termed as blockchain and on DAG-chain in case of Dagcoin. Funds are stored utilizing an encryption system which is, almost, impossible to tamper with.

• An e-commerce business can expand its boundaries

With traditional payment systems, an e-commerce business is limited to that percentage of the world’s population who have access to centrally handled banking services. A bulk of the world’s population doesn’t have access to the same. Hence, it is needless to say over here that an e-commerce business has got a plenitude of chances to grow and prosper in such areas if the people get access to an online payment mechanism. Cryptocurrencies emerge as a winner in this area as they are not restricted by borders and are decentralized. Also, among cryptocurrencies, DAG-Chain based cryptocurrencies are extremely user-friendly and convenient to use as compared to the blockchain based cryptocurrencies. Therefore, if Dagcoin cryptocurrency or any other DAG-Chain based cryptocurrencies are launched in such areas, businesses accepting payments in the same, are guaranteed to witness a tremendous boost in the number of customers and revenue.

Conclusion

Every business is looking to move forward on the path of progression. In today’s scenario, not only for e-commerce businesses but for any kind of business, accepting payments in cryptocurrency have become vital. This is because, seeing the present trend of cryptocurrencies, they are highly unlikely to stall anywhere in the near or far future. In fact, with the government of various nations getting interested in cryptocurrencies, time is not far when cryptocurrencies might become a preferred mode of payment in each and every financial scenario.