We have super exciting news! To make your online purchasing experience smoother and more secure, we’ve joined up with BitPay and will now be accepting cryptocurrency.
Get your next favorite designer handbag or exquisite timepiece and enjoy the convenience of paying with cryptocurrency. If you haven’t yet dived into the wonderful world of cryptocurrency, you might wonder what all the fuss is about. Read on to learn about the exciting benefits!
Why Is Cryptocurrency so Exciting?
Cryptocurrency is a completely decentralized method of payment based on blockchain technology. It is essentially a digital database that is not governed by any financial institution or government. Instead, the cryptocurrency community is maintained by the network of users’ machines.
Though cryptocurrency is volatile as an investment at this point, its importance for the future as a form of payment is undeniable. International digital transactions can be made quickly and securely, and the risk of fraud or identity theft is greatly minimized.
Benefits of Buying with Cryptocurrency
There are many ways to pay online these days, but none offer all the benefits of buying with Bitcoin or any other cryptocurrencies, such as Coinbase and Dogecoin. Let’s delve into some of them here!
Has this ever happened to you? Has your bank ever decided to close your accounts (or lock you out of them) due to an infringement of their terms of service that you never knew about? Even if it hasn’t, the fact that it can is very concerning.
With cryptocurrency, you are the sole owner of your private and public encryption keys. You have total control over your account (unless you delegate wallet management to a third-party service).
Instead of having to get permission from a bank or government, cryptocurrency allows direct peer-to-peer transactions.
Low Transaction Fees
International transactions cost money, especially when you have to exchange currencies to make them. At the very least, you’ll have to pay wire transfer fees and foreign exchange fees when dealing with a different currency. By eliminating governments and financial institutions from the mix, these fees disappear and the overall cost to transfer money becomes very low.
Another benefit of not having to get government or bank approval is that your transaction will go through much faster. Now, instead of waiting days or more to fulfill standard wait periods or other authorization procedures, you can simply make your payment and be done. That’s how technology is supposed to work in 2021!
No Bank Fees
Furthermore, without the banks involved, all the traditional fees associated with banks disappear. Your cryptocurrency account won’t ever charge withdrawal, returned deposit, overdraft, minimum balance fees, or any of the other myriad of ways that banks have figured out how to make money.
It probably doesn’t surprise you to know that billions of people on the planet don’t have access to traditional banking systems and credit cards. What might be a bit more surprising is that many of those same people do have access to the Internet through a computer or smartphone.
Once cryptocurrency has the infrastructure necessary to support it, the system has the potential of opening up asset transfer and transaction processing to millions — if not billions — of people around the world.
Using cryptocurrency is as close as you can get to using cash online. Unless you decide to make your purchases public, they are not associated with your identity. That’s not to say that cryptocurrencies are 100% anonymous or completely untraceable, but it is much harder to connect you to your purchases with cryptocurrency than with other forms of payment.
Identity theft is a big deal these days and using cryptocurrencies is a great way to protect yourself. When banks and governments are reviewing your transactions, your data is traveling along with your purchase as it is being verified. A breach at any point along the transaction chain can leave your data exposed for hackers to exploit.
Cryptocurrency, on the other hand, is a direct exchange between two parties. Plus, you are in total control of what information is sent.
Buying from TrueFacet with Cryptocurrency
We are excited to offer our customers all the convenience and security of purchasing with cryptocurrency. All you have to do is click the “Pay with BitPay” button at checkout, then you’ll have 15 minutes to complete your payment. All orders paid for with BitPay are final and we cannot return either cryptocurrency or hard money, but we are happy to provide TrueFacet credit or exchange per our return policy.