Bitcoin is possibly the most prominent store of value among all the cryptocurrencies that exist in the current crypto market. Many organizations are considering using Bitcoin and other cryptocurrencies for payments, while brands geared towards women are now accepting crypto payments.
A recent survey found that a whopping 46 million people in the United States are considering using cryptocurrencies to pay for common items and groceries for everyday use.
Visa revealed in its report that up to $ 1 billion has been exchanged for cards that enable crypto spending. Such optimistic statistics have resulted in an increase in the number of companies accepting crypto payments.
Many merchants and companies are trying to get into the crypto space and accept cryptocurrencies as a means of payment for their products and services. While giants like Starbucks mentioned Bitcoin in their datasheets, small, female-centric brands have gained popularity for accepting crypto payments.
Glamnetic, a big name in the beauty industry that brings magnetic eyelashes to its customers, has partnered with BitPay, a leading cryptocurrency exchange, making it one of the first women-centric beauty brands to accept payments in the cryptocurrency form of ether , Doge or even Bitcoin.
Ann McFerran, CEO of Glamnetic, stated that the crypto space has huge potential, but the only problem is the male presence that dominates it. So she took action to reclaim the land. She has been sitting on the sidelines as an investor since 2017 and has decided to do something about it.
“The beauty industry is one area where cryptocurrency payments are not widely used. I want Glamnetic to be one of the first brands to support crypto payments because I am a huge believer in crypto and want to attract more women to the field, ”said Ann McFerran.
The beauty industry will certainly not be in the hands of a few and will eventually reach the global beauty landscape after Glamnetic. It can be said that the integration of crypto payments is starting with beauty brands and there are plenty of potential opportunities waiting for women-centric brands in the industry.
It’s too early to say whether paying for beauty products with crypto is an incentive for women to get into crypto, but small effects are being felt. McFerran commented on how Glunetic processed a number of consumer crypto transactions. Yuvi Alpert, Founder and CEO of Noé Mie – A jewelry company that recently accepted crypto payments also said the brand is currently only accepting crypto with its female customers.
While possible, the results suggest that the main products that women use cryptocurrencies for are travel and entertainment, real estate and furniture, or home appliances. And it may take longer for crypto payments to catch up in the beauty industry.
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