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The Future of Cryptocurrency Payments in E-Commerce

With the development of blockchain technology, a majority of retail chains, online stores, businesses and individuals prefer using seamless payment and transaction methods in e-commerce. So, the million dollar question is, what lies ahead for the future of crypto payments in e-commerce, and vice-versa. Is it practically feasible and worthwhile enough to make it a mainstream form of payment, alongwith fiat money? This is one big question that needs to be answered in the Shopify and WooCommerce fraternity.

If we go by the recent statistics, today e-commerce and cryptocurrency are like a dynamic duo. A new independent report indicates that more than 38% of digital currency enthusiasts have invested in cryptocurrency like Bitcoin (BTC) and Ethereum (ETH), as they are quite impressed with this new technology. And, as customer expectations are always high for enjoying seamless online transactions, the role of cryptocurrency is set to become more prolific than ever. It is bound to streamline Shopify purchases, as the trust among customers is slowly rising.

Benefits of Crypto Payments in E-Commerce Business

Cross-Border Transactions – As all major e-commerce stores are offering a variety of payment options, the customers are benefitting from this flexibility offered. Unlike conventional finance options, cryptocurrency payment has no limitations to geographical boundaries. And, thanks to decentralization and lack of government regulations, making payments in digital currencies are becoming easier, as there are no financial intermediaries involved in the payment process. Just a digital wallet and account with the crypto exchange, and you’re good to go.

If a local or national brand is mulling to expand its presence globally, cryptocurrency can be a wise consideration. When bank payments and wire transfer can take days, crypto payments can be accomplished in seconds. Moreover, across the globe and continents, with no restrictions in boundaries and borders.

Reduced Merchant Fees – When making payments through traditional methods such as credit cards, debit cards, etc. it can result in higher transaction fees, denting your profit margins. Whereas in the case of cryptocurrency payments, there are no charges involved. This means cost-cutting for your customers, resulting in improved sales figures and revenue for your e-commerce or Shopify store.

Security & Safety – As cryptocurrency transactions run on blockchain technology using a decentralized ledger system, it is near impossible to reverse or cancel a transaction, once made. This provides Shopify merchants and customers with an added layer of security against frauds, fund thefts and hacking, which has grown manifold over the years, with the increase in online shopping. Moreover, the technology behind blockchain helps in preventing chargebacks, as customers cannot lodge any formal request with the system to reverse a transaction. And, when you’re transacting over a platform like “UniPayment”, be rest assured of crypto payment security for every single transaction.

Applications of Cryptocurrency in E-Commerce

Going by the future trend in digital currencies and WooCommerce payments, one can clearly notice that there’s going to be a significant jump in crypto usage in e-commerce payment, transaction and trade. The amount of flexibility offered by crypto, makes it a perfect currency for a plethora of initiatives that help promote a brand. Let’s understand the applications.

Loyalty Programs – This can be a great way to attract new customers in e-commerce, as such programs ensure brand value and reputation. And, as cryptocurrencies leverage blockchain technology, it offers customers some unique way to earn rewards and bonus points. There’s a digital ledger that organizes all transactional records, meaning that your loyalty bonuses, tokens, rewards and points cannot be stolen or encashed by a different individual. Today, crypto-based rewards and loyalty programs ensure a higher customer participation, resulting in increased purchases. This easily makes crypto payment E-Commerce future models a big success for retail chains and WooCommerce giants.

Web 3.0 Experience – As a lot of international brands and online shopping stores are investing heavily in Metaverse, digital currency is proving to be a formidable tool in providing online buyers with incentives to purchase more from any particular store or outlet. Metaverse activations come alive and feel more tangible with digital currencies, thus bolstering trust and confidence levels. This is how customers benefit, by engaging with a particular channel. Today, buyers can purchase and trade NFTs for tangible products like sneakers, smartphones, hoodies, etc. These NFTs can be bought using cryptocurrency or regular currency.

Marketplace Growth – The growth and proliferation of cryptocurrency has transformed the e-commerce marketplace, as they operate on peer-to-peer networks. It offers merchants added transactional security, and the important benefit of cost-effectiveness. As crypto-only marketplaces have a significantly lower competition than traditional marketplaces, it offers a perfect option for those looking to expand and sell their wares, by reaching out to a wider audience and customer base.

Authenticity Verification System – As digital currencies provide highly accurate transaction records, it has applications in the manufacturing, services and logistics domain. For example, digital tokens and serial numbers can be used to identify the origin, time and place of manufacturing, thus providing complete transparency to both consumers and the supply chain. At a time when fake products and unethical manufacturing practices are dominating the scene, cryptocurrency is working in a way to shield your e-commerce business and Shopify store from transaction/payment frauds, demonstrating a high degree of trust and confidence to your customers.

Cryptocurrencies to Watch Out For

  • Ripple
  • Bitcoin Cash
  • TON
  • Dash
  • USDT Tether stablecoin
  • Dogecoin
  • Solana

Where to Shop Online with Cryptocurrency?

  • Amazon
  • Microsoft
  • Shopify
  • Etsy
  • Lush
  • Wholefoods, and more.


With the ability to transfer any amount of funds from anywhere in the world, crypto and stablecoins (USDT Tether) are being increasingly adopted and accepted by a majority of online stores and Shopify platforms. And, businesses who are integrating crypto payments with their existing models of e-commerce, are the real gainers in the long run. Irrespective of their volatility and fluctuations, digital currencies like BTC, ETH & LTC are still the most popular crypto assets and payment methods in the Shopify marketplace. Cryptocurrency is able to work independently, without any intermediary or supervision, making it the easiest and fastest method of payment. The future of cryptocurrency in E-Commerce is bright, as it offers better speed and efficiency than traditional banking services like QR-Code, contactless payment or mobile payment.

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