You must be aware that there is a lot of debate going on as to whether or not cryptocurrency is legal or not and is it ethical or not as well. But the fact that cryptocurrency prices are going up day by day shows you that it is here to stay and while it will have its ups and downs, we know that the world is going to accept this mode of payment sooner or later. For that to happen, you will need to be able to transact with cryptocurrency as well because what is the use of money if you can’t spend it on something.
Looks like cryptocurrency, particularly Bitcoin, is having its moment right now as it has been announced that a Japanese e-commerce platform named Mercari is going to start allowing people to buy things and make payments via Bitcoin which is believed to be the most stable and most valuable cryptocurrency in the market right now. Nikkei reports that “the firm will process Bitcoin payments via its Tokyo-based crypto subsidiary Melcoin”. It is added that “Melcoin will convert all BTC payments into yen, meaning that while buyers can choose BTC pay, vendors will receive fiat. The firm will stop short of posting prices in Bitcoin, with items listed for sale in fiat yen. However, customers will be able to choose BTC as a payment method when making purchases on the website.
Mercari is one of the biggest and the fastest growing e-commerce platforms in Japan and the company reported that “it had 22 million monthly users” as of July 2023. Last month, a survey found that Japanese people who started trading coins at the end of 2022, overwhelmingly chose Mercari’s Bitcoin Trading app (24.7%) or Rakuten’s Rakuten Wallet platform (24.2%). This means that Japanese people are choosing to use the e-commerce platforms for Bitcoin exchange over traditional exchanges such as bitFlyer and others. It is worth noting that we are not here to promote cryptocurrency in any way whatsoever and we are just reporting the facts. The success of this new payment method from Mercari also depends on how Japanese people are going to use it.
