Shopping with cryptocurrency may sound far off to some, but it is becoming an everyday reality. One such store has sent ripples throughout the internet after their most recent announcement. Uquid shared how it has geared its store to run using Bitcoin’s Lightning Network. Uquid is self-purported as the first online store for crypto token holders.
How A Crypto Shopping Hub Has Aided With Bitcoin Payments
Uquid has stated that the integration of this new blockchain technology has boosted transaction times. It has the further benefit of decreasing the associated costs. Therefore, the major negatives associated with Bitcoin payments have gone out of the window.
Uquid has more than 35 000 products stocked in their online store and are continually adding new ones. A spokesperson stated that there are savings available on a majority of their goods. Furthermore, they shared that they felt that Lightning Network was the next step in purchase facilitation technology.
Uquid has chosen to utilize the Lightning Network extension available from OMGFIN. Uquid has further committed to making the site more accessible by increasing the number of crypto tokens accepted. This includes options as diverse as Gas, NEO, and Tether, as well as favorites like BTC and ETH. Uquid also has its token, Uquid Coin.
Products Stocked On Uquid
The product variety ranges from highly in demand technological goods to life insurance. They also carry name branded goods, such as Microsoft’s Xbox console. It is possible to procure smartphone data bundles, pay off your home entertainment fees, and even secure an Uber ride.
In the future, Uquid plans to offer additional forms of products. These products include men’s and women’s fashion pieces, food as well as health and wellness goods. The founder of Uquid, Tran Hung, stated that Uquid had progressed closer to helping solidify cryptocurrency in retail.
How Uquid Has Evolved Over The Years
Uquid started back in 2016 and was one of the very few international online crypto eCommerce platforms available. One of their unique aspects in the very beginning was the reliance on blockchain technology within their store. A spokesperson for Uquid shared how they had focused on increasing the platform’s functionality while ensuring advanced security.
2020 has been a pivotal year for Uquid. The company managed to institute Business-to-Business services. These include things such as social media marketing and the creation of crypto exchange plugin functionality.
However, Uquid is no stranger to being on the helm of new technology. Back in 2016, they implemented an online Visa debit card that could be loaded with over 90 crypto tokens. Some of the 90 include Ether, Ripple, Litecoin, Monero, and Dogecoin, as well as Bitcoin and Ethereum.
The induction of stores that accept crypto technology helps to introduce everyday shoppers to cryptocurrency. This normalization of crypto tokens leads to greater adoption of the new technology. This could have a rebounding effect for the industry as individuals, who may not have otherwise used crypto, become interested.