Although BTC (Bitcoin) is generally considered to be a stock of value by many people, a portion of the customers around the world may be thinking differently. It has been shown by the recent data that up to 46M people intend to utilize BTC in payments against the things like real estate or groceries. Recently in July, Visa (a payment managing firm) disclosed that it has seen more than $1B crypto-enabled cards (issued by the company) were used for spending through the initial half of the year.
The bold decision of the beauty industry regarding Bitcoin
The founder and CEO of Glamnetic (a beauty brand for magnetic eyelashes), Ann McFerran reported that the firm has initiated accepting DOGE (Dogecoin), ETH (Ethereum), and BTC (Bitcoin) following a recent collaboration with BitPay (a payment provider of Bitcoin). In this respect, the brand becomes one among the initials to support payments in crypto.
While transferring payments through the utilization of BTC as well as the rest of the cryptocurrencies may inspire women to take interest in crypto, this only represents one side of the coin. The chief executive officer of Utrust (a system of banking regarding crypto payments) suggested that it is greatly dependent on the capability of a brand to access the customer through a proper educational tool if it wants to educate women about crypto. She claimed that Utrust was playing an active role in the movement of spreading crypto awareness.
McFerran added that drive adoption of Bitcoin would be assisted by Glamnetic as it would allocate the raisings of Dogecoin earned through the selling of magnetic eyelashes, to be spent on drive adoption. She suggested that people would feel more comfortable accepting crypto if the whole beauty industry embraces it.
The sustenance of BTC in the beauty industry
The records show that the prominent products related to females like appliances, furniture, leisure, and travel, are generally being paid in cryptocurrency nowadays. However, it may be the case that the process of crypto adoption would take a certain time to gradually span over the beauty industry as most of the brands have not adhered to it until recently.
Kon believes that general perception is changing about crypto as more brands are considering it as a great benefit. She encouraged the brands by revealing that it is an opportunity for them to eradicate the fraud and chargebacks usually confronted in the traditional method of payment.