Influence of Crypto Currency in E-commerce

Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. The types of E-commerce includes – business-to-business (B2B), business-to-consumer (B2C) or business-to-government (B2G). E-commerce with the help of latest trends can improve communication and doing E-Commerce business is more easier. With more digital innovations in finance, public people were showing more interest in this form of business. In addition to that, financial sector stakeholders and academic are also more attracted by this. The main objective of Cryptocurrencies is to replace centralized systems such as banks, eliminating the need for an intermediary and by this greatly simplify the shopping process. With Ecommerce there is a possibility to reach more people across the globe at less expense than the traditional business. With the introduction of new concept like crytpcurrency, Bitcoin is a highly secured digital currency, used by more people. It simply allows its users to move value around the World Wide Web. Market volatility is the key issue with cryptocurrency payments. Price fluctuations in the value of a cryptocurrency which is being used for payment can lead to net losses (or conversely, net gains) for e-commerce merchants. With so many factors affecting the implementation of cryptocurrency-based payments, it's essential to be able to fail fast while innovating or testing the waters. To accommodate for risks and volatility, consider incremental additions such as rolling out crypto payments support on a web app before making them available via native app capabilities or vice versa. Citation: V. Neethidevan. "Influence of Crypto Currency in E-commerce ." Global Research and Development Journal For Engineering 4.7 (2019): 36 - 38.