May 30, 2017 (Windy Hill Beach, South Carolina) — “Do you accept cryptocurrency as payment?” That’s what I asked the sales manager at a local car dealership when she called to ask if there was anything her company could do to help my business. We spent the next twenty minutes talking about how cryptocurrency could help her and her business. I told her about about a Mercedes dealer in China who recently put fifty top-of-the-line cars on a global cryptocurrency-related mall, and sold all fifty within four hours for 100% OneCoin. I told her there are people eager to spend their cryptocurrency holdings, and that offering cars and other merchandise or services to such people can be a nice way of attracting new customers. I also mentioned that I recently told my next-door neighbor that when he sees a new white convertible in my driveway, that means a local dealer has started accepting my favorite digital currency as payment!
One of my daily routines is to participate in a noontime conference call with folks involved in one of my favorite cryptocurrency-related businesses. Yesterday, one of the callers asked for advice on what to tell a business owner who says “I already have a website”. I told her about the “attracting new customers with cryptocurrency” conversation.
Today, I read an interview with a businessman that included an inspiring tale about how accepting cryptocurrency impacted his business:
Once online gift card retailer Gyft began accepting payments in bitcoin, 95% of all its business was in bitcoin, and that helped them attract more stores. “I’d rather have 10,000 super loyal, excited, happy customers rather than millions of people who don’t really do much,” says the company’s founder Vinny Lingham. “The theme of the crypto community is they’re very passionate. So when they see a great services, they tell their friends, they get involved.”