Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Elevate Brands, which is in the business of buying Amazon businesses, partnered with Coinbase to offer merchants cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. payments for acquiring their ventures.
Merchants of the giant e-commerce platform, Amazon now have the option of selling their businesses to Elevate Brands change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. of Bitcoin. The medium CoinDesk reported first.
The company Elevate Brands which acquires and manages external traders from Amazon has partnered with the crypto-exchange Coinbase is an American company that operates a cryptocurrency exchange platform. to be able to offer Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. and other cryptocurrencies as a payment option for purchase agreements with e-commerce merchants. The company announced its partnership with escrow a financial instrument where assets or cash are held by a third party while a buyer and a seller complete a deal. service Coinbase Prime this Thursday through a press release .
As part of the alliance, Elevate Brands is launching a program called “Cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. or Coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency.“which allows for the first time procurement payments to be made to vendors of Amazon are offered in digital currency. “ This move puts us at the forefront of a new digital digital technologies are these electronic tools that have the ability to generate, store or even process data. era. “, said Ryan Gnesin, CEO in the statement, adding:
We’ve learned that [Amazon] sellers are already well entrenched in cryptocurrency, so we’re thrilled to be the first company in the Amazon ecosystem to offer a ‘cash or [crypto]coin’ option.
Bitcoin: an exit option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. for Amazon merchants
Elevate Brands based in New York and Austin, specializes in acquiring and entering into merger agreements with small businesses that sell their products through Amazon . The company has stressed that it aims to help merchants with little capital capital is most commonly defined as the large sum of money you would use to invest. to consolidate their businesses on the platform a place to buy, sell and store cryptocurrency or offer an exit for those who do not want to stay in business for the long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. term.
In a previous interview with Tech Crunch Gnesin had commented that, in many cases, the businesses that he acquires Elevate were initially built as sideline activities and therefore, when they take off and are forced to move up to the next level, the founders do not have the time or capital to continue, so “ are happy to pass them on to someone else “.
“ Anyone can buy a business, but those who can grow it are the most successful. That’s our long-term vision “added the CEO at the time.
The company has already launched its new cryptocurrency payment option. . According to the press release, Nick Eary, who sold his company to Elevate in 2021, you will receive your earnings payment in Bitcoin next month. The trader noted that the alternative provides an advantage for those who want to invest investing is when you put money in a financial scheme with the intent of making a gain. in cryptocurrency by facilitating the movement.
“ When I sold my business, I planned to allocate some of the funds to Bitcoin. The fact that I could be paid in crypto instantly […] made investing a much simpler process. “, says Eary.
Amazon has yet to make the leap into cryptocurrencies
Elevate which owns more than 30 private labels, has raised more than $370 million from institutional investors. The company claims to be one of the top 100 marketers in Amazon .
The giant commerce platform has yet to embrace cryptocurrency payments, even though the alternative seems to be growing in popularity among retailers and merchants around the world. Last year, cryptocurrencies spread a price difference between asking and selling prices of the asset. rumores that Amazon was working to add Bitcoin and other cryptocurrencies to its payment methods. The company will soon desmintió the information.
In the meantime, the e-commerce sales business is proving to be more lucrative every year. The sales partners of Amazon in the U.S. sold more than 3.8 billion products and averaged more than $200,000 in sales, a year-over-year increase of about $170,000, according to the empowerment report of small businesses 2021 of Amazon published last October.
- Amazon to suspend Visa credit card payments in the UK from January 2022
- Amazon job opening indicates the company may be working on a digital currency currency is a medium of exchange that defines value.
- Mexican retailer Elektra, owned by billionaire Ricardo Salinas, accepts payments with Bitcoin
Article by Hannah Estefania Perez / DiarioBitcoin
Image from Unsplash edited in Canva