With the looming recession which is forecast by the majority of economists, Australia’s business owners are looking at creative ways to secure future customers and income. A relatively new and innovative sales channel is to accept digital currencies from new customers. Businesses are turning to alternate forms of payment in numbers. “Today, more businesses and financial institutions are steadily beginning to adapt, adopt and become adept at cryptocurrency transactions. Among those are smaller businesses that have begun to include digital currencies as a payment option for customers (Melody Yuan, East West Bank). Qoin, Australia’s latest digital currency, fully backed by goods & services, has seen a high adoption in its first few months. Businesses looking for additional ways to generate new customers and income have embraced Qoin with its merchant network growing by 50% per month since January this year.
Andrew Barker, Chief Marketing Officer of Qoin Australia says, “Qoin is uniquely different to other Crypto in that it is used in a growing community of buyers and sellers transacting in Qoin for everyday goods and services. We have already seen close to 3,000 merchants join the Qoin community over the past few months, all looking to try a unique way of generating customers, income and possibly some future asset growth”
“We estimate that Qoin will trade on an exchange later in 2020, giving the opportunity to those merchants currently earning Qoin, to sell part of their holdings in exchange for cash, provided there are willing buyers”, says Barker.
With zero entry and transaction costs, Qoin is proving to be of interest in a world where nothing is normal anymore. “Speaking with dozens of business owners every day, our team is seeing that fine line between their focus for survival and desire to open a new chapter for their business into the future”.
Barker ends with “I admire and respect our business owners during this time and the tenacity they are showing. I hope that we can help them leverage the unique opportunity to turn their idle capacity into a growing asset.”
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