We are proud to have partnered with Utrust, a cryptocurrency platform that now allows our customers to purchase our products using a variety of cryptocurrencies.
Much like the CBD market, the crypto space continues to evolve and grow exponentially. We are incredibly happy to be a part of this exciting advance in modern commerce, and to support the accessibility of cryptocurrency to a wider audience.
The popularisation of both CBD and crypto is only going to increase, and at Unique CBD we want to be there from the very start.
What is cryptocurrency?
The intricacies and inner workings of cryptocurrency can get quite complicated, and different currencies often work slightly differently from one another.
At their simplest, they are digital currencies. This is comparable to the dollars, pounds, euros (and many others) that exist today with varying exchange rates as physical currencies; except cryptocurrencies exist only in a digital space. Even if you know nothing about crypto, you’ve almost definitely heard of Bitcoin; this is the most popular cryptocurrency so far, but there are many many more coins and projects out there too - the list is constantly growing.
But why pay with cryptocurrency?
There are several reasons why paying with cryptocurrency is becoming more popular among both consumers and companies (Tesla, Microsoft, Twitch- to name a few). Let’s have a look at some of the reasons someone might opt to pay with crypto over traditional currency.
An obvious one is convenience of having a digital wallet over a physical wallet. Current standard credit/ debit cards are physical objects, and although you can set up Apple Pay or have your device remember your card details, it makes a lot more sense to have an entirely digital wallet for online purchases. As more online stores and services inevitably start to integrate support for using digital wallets, this will only become more convenient.
Cryptocurrency payments also provide a level of anonymity that doesn’t come with traditional transactions. Without having one bank overseeing all your transactions you can, for example, make purchases without impacting credit score.
From an infrastructure point of view, cryptocurrency transactions are generally simpler and won’t involve any interruptions from intermediaries either. This means faster, more efficient transactions.
Bear in mind, this is a very quick and simplified glance at cryptocurrency; there is a whole lot more to it, and no shortage of information out there if it is something you're interested in learning more about.
Utrust make cryptocurrency payments not just possible, but convenient and efficient. The value of digital currency is, at this point, indisputable. As the world moves into these new and exciting times, we want to make sure we do too.
To find out more about uTrust and why we have chosen to partner with their great team, you can read about their platform here.