Industry Analysis

Amazon Customers asking for crypto related products

Amazon’s research on cryptocurrency implementation

According to research coming from a survey, about 12.7% of Amazon customers show they would like to see Amazon’s marketplace accept cryptocurrencies for products and services.

The report suggests that the Global financial portal investing.com had surveyed 1000 multinational e-commerce company clients in order to analyse the consumption of Amazon product and service rates.

This research undertaken was meant to expand its services to offer even more products to their clients. The from Amazon customers results revealed that most of the respondents chose through multiple products.

Amazon-backed computer offering made up 72.9% of the votes. Followed by local coupons and deals which were around 51.7%, as well as prescription drugs of around 36.7%. Home security and medical marijuana scored 31% and 29.5% respectively.

According to the results 13.7% of Amazon’s clients voted for listing cryptocurrency products and services, as this will drive adoption throughout the growing e-commerce market.

Amazon was not very reticent, however, as the company made it known back in November 2017 when bitcoin hit its all-time high, that it was planning on enhancing its market dominance.

There were also reports that the e-commerce giant had acquired digital currency-related domain names to be used in future commerce.

According to the CEO of Binance Changpeng Zhao, the use of purchasing goods and services with crypto will help the market and Amazon eventually accepting cryptocurrencies as the implementation of cryptocurrencies is ideal and suited for the use on the platform.

He later mentioned that:

“For any internet (non-physical) based business, i don’t understand why anyone would not accept crypto for payments. It is easier, faster and cheaper to integrate than traditional payment gateways. Less paperwork and reaches more diverse demographic and geography.”

What are your thoughts on the implementation of cryptocurrencies by Amazon? How will Amazon customers benefit from this?

Feel free to leave a comment down below.

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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