There was a time when online shopping sprung out of the internet and won our hearts. It provided us with more options than ever, more reliability and easier accessibility. And now, we have a time when cryptocurrencies are doing the same albeit a little too many bumps on the road. We are sure though that cryptocurrencies like Bitcoin will find solid ground soon.
But what would happen if these technologies came together? Imagine the experience of buying something in the coziness of your room and paying for it with the security of your cryptocurrency. It would be the pairing you would expect from shopping right?
This thought would become a reality soon as a Crypto payment processing startup Moon decides to venture into this very market. With their browser extension, anybody could use their lightning enabled wallets to shop on Amazon and other online marketplaces. This would be a breeze of hope for the crypto enthusiasts who were looking into more mainstream transactions.
How does it work?
Moon makes this happen by allowing users to connect their Bitcoin accounts with a cryptocurrency exchange and make payments through it. The sellers at Amazon would receive their payments in fiat currencies as the amount would be converted at the backend before it reaches Amazon.
But they are hoping that as soon as next year, they would be able to expand the business to all the online marketplaces, whether or not they accept Bitcoin. When there are direct Bitcoin transactions in place of the need for currency exchange, it would make it less complicated and more effective.
They are also integrating card services like VISA into their payment gateway. They would get a certain percentage of the amount paid as their cut of the interchange fees.
When will it be online?
According to Moon, their extension is still being reviewed by Chrome web store, and once that comes through, they would be able to launch it as soon as possible. The men behind the startup feel that this would be an opportunity to engage more people into the lightning network and increase its adoption. They are also talking to people in the industry to know what’s being worked on and understand it better.
Maybe we could see some of them resonate with each other and bring their minds together to create something even more extraordinary than this. It would make Bitcoin a more reliable and adaptable currency than it is right now. Any development in making it mainstream would only be met with a positive comment because of the huge potential it has.