Introducing crypto trading – how blockchain is changing trading
E-commerce has become an important part of our everyday lives, redefining commercial activities worldwide. Internet penetration has done wonders for the industry and contributed to its growth significantly.
The global e-commerce industry was valued at $13 trillion in 2021 and is expected to reach $55.6 trillion by 2027. Asia-Pacific countries account for more than 70% of all e-commerce activities. For example, China alone contributes $740 billion in e-commerce sales, while the United States accounts for more than $560 billion.
This multi-trillion dollar sector is now evolving to the next level, thanks to innovations in Web3. To this end, traditional e-commerce organizations are beginning to recognize the potential of technologies such as blockchain and crypto. While blockchain provides secure and reliable infrastructure, cryptocurrencies introduce new economic aspects and possibilities. And with these factors combined, we are now witnessing the emergence of a new commercial paradigm, namely crypto trading.
Crypto trading: The new word in town
Crypto trading refers to the buying and selling of goods or services online using cryptocurrency. C-commerce platforms are blockchain-based and thus support cryptocurrency transactions. However, unlike traditional e-commerce platforms that accept crypto payments, c-commerce provides additional crypto-based tools. It also encourages or rewards users for purchases and referrals.
The most characteristic feature of c-commerce is that it simultaneously benefits consumers and platforms. This is mainly due to the speed, cost-effectiveness and global availability of blockchain transactions. In addition, users can easily create secure and cryptographically verifiable digital identities. And most interestingly, customers can earn by shopping in c-commerce.
C-commerce also helps businesses scale better and faster. Its limitless nature allows merchants to expand their reach and room for innovation. In addition, crypto payments minimize chargeback fraud since transactions on the blockchain are tamper-proof and irreversible. Platforms such as Shopify thus accept crypto payments today, while blockchain-native cCommerce platforms show a lot of potential.
The rise of utility-driven C-commerce startups
The e-commerce industry has been around for more than a decade, while the crypto revolution has only just begun. However, new startups are taking crypto seriously and developing tool-driven c-commerce stores.
Exeno, for example, is a blockchain-based startup building a spectrum of a crypto trading ecosystem. The platform is a shopping marketplace powered by its native exeno coin ($EXN). It has a wide range of products that customers can purchase using their favorite cryptocurrencies and payment gateways, as well as offering an immersive user experience. Moreover, it is one of the first to offer complementary features such as ID management, messaging and bridges.
The future of e-commerce is on Blockchain
The transition from traditional e-commerce firms to blockchain-enabled ones has already begun. Blockchain technology significantly improves e-commerce businesses’ security, productivity and transparency. This will improve the user experience, allowing e-commerce platforms to attract new consumers while retaining existing ones. Furthermore, this can help platforms increase revenue and consumer satisfaction.
The nature of blockchain and the utility of cryptocurrencies has the potential to create a multi-trillion dollar opportunity for e-commerce platforms. With the crypto market gradually becoming more prominent, e-commerce may transition to c-commerce. It’s only a matter of time before people see the new Web3 Amazon.
