Shopping Jewelry with Cryptocurrency: Is it Possible?

The use of cryptocurrencies is getting wider day by day and little by little more companies and businesses are appearing which in our country accept it as a form of payment for various types of goods. In the automotive sector, stable cryptocurrencies have been accepted to pay for 0 km savings plans and even the purchase of accessory parts and authorized maintenance services.

Cars, real estate, and commodities like soybeans and corn are some of the items that can be exchanged for cryptocurrencies in our country, the list of which has not stopped growing in recent months and is expected to continue to grow in the future as the number of users both within a country and around the world which continues to increase. Even specific jewelry such as watermelon tourmaline ring is included.

The intensity of cryptocurrency adoption by countries can be seen in the index prepared by the Chainalysis portal, which specializes in analyzing data on the use and movement of cryptocurrencies through public networks. According to the index – which weighs the received value of cryptocurrencies, retail trade, and the volume of their exchange between “peers” in each country based on Internet users and per capita purchasing power of each country – the United States is among the top five largest cryptocurrency-using countries in the world.

Even so, the link between cryptocurrencies and their use to carry out transactions in everyday life, such as purchasing goods or services of various types, is still in its early stages. Cryptocurrency trading is mainly reserved for people who choose to invest their money in crypto whose price is regulated by supply and demand.

Operations with cryptocurrencies are reserved for people who choose to invest their money in cryptos whose prices are regulated by supply and demand –Bitcoin and Ether, the most famous cases – or by “stablecoins” –which follow the value of assets such as dollars, euros or gold.

However, little by little, companies and businesses that accept cryptocurrency as a form of payment are starting to emerge. One of these use cases is the purchase of jewelry, an option that some online jewelry stores are starting to offer.

Buying Jewelry with Cryptocurrency

The global community wants crypto adoption to continue to grow in everyday transactions. This is yet another way to facilitate the apparent complexity that is often imagined about crypto, and a way to show ordinary people that crypto is an intuitive and very powerful tool. Some well-known jewelry companies even provide special discounts on certain jewelry like tourmaline ring if the buyer buys with cryptocurrency.

The purpose of this alliance is to provide clients with payment options so that jewelers simplify the management of their finances without incurring unnecessary commissions or expenses at the time of purchase. Once the terms are approved, the client will be provided with an address to which they must send the required amount of cryptocurrency to complete the operation. Even some physical jewelry stores in Europe have made transactions with cryptocurrencies. However, the possible trade-offs don’t end there: service-related items related to jewelry care may be included in the new ecosystem.

Today several companies have appeared that offer to contact buyers and sellers who accept cryptocurrency as a form of payment from all over the country and which have a large network of businesses providing products and services.

The next step to popularize usage is the possibility of paying by debit card in stores for crypto-convertible operations, an option that several popular fintech will launch. In other words, buying jewelry with cryptocurrency is possible today.