True Facet accepts cryptocurrencies

Customers will now be able to pay for items using cryptocurrency assets such as bitcoin and Ethereum thanks to a partnership between True Facet, an online marketplace that sells pre-owned watches and jewelry, and Bit Pay, a leader in the provision of services for the payment of goods and s

The True Facet Team Has Decided to Accept Bitcoin Payments
The action brings the objectives of bitcoin and the digital currencies that are similar to it closer to being realized. What a lot of people probably forget is that although bitcoin and a lot of its cryptographic asset relatives have taken on speculative or even hedge-like statuses in recent years, a lot of them were originally designed to serve as payment tools. This is something that is likely forgotten by a lot of people. They were designed to displace traditional payment methods such as cheques, credit cards, and fiat currencies, but progress in this direction has been somewhat sluggish because to the volatility that continues to hold them back.

When it comes to the pricing of bitcoin and other cryptocurrencies, it is quite difficult to predict whether bitcoin and its family will go up or down. Because of this, a lot of retailers and businesses have been hesitant to say "yes" when it comes to taking payments made in cryptocurrencies, and to some extent, we can't say that we blame them.

Consider the following hypothetical situation: an individual enters into a business and uses bitcoin to purchase items totaling $50 worth of value. Around twenty-four hours pass while the shop does not immediately convert the bitcoins into fiat currency for one reason or another. The price of Bitcoin continues to fall, turning that $50 into $40 shortly thereafter. The retailer takes no responsibility for the loss of revenue caused by the customer's decision to keep all of the items that they have purchased. Is there any justice in this situation? That is not the opinion of everyone.

Because of this, businesses such as True Facet play an extremely vital role. They have an understanding of the motivations behind the creation of bitcoin and other digital currencies, and they are working to develop these concepts into tools that are practical and useful for regular people. In an interview, co-owner and CEO of the company Raj Seecharran shared his excitement over the expansion of his business, stating:

As True Facet continues to grow and strive to give our customers the best possible shopping experience, the expansion of our business into handbags is a natural progression for us to take at this point. With our brand-new iOS app, consumers are able to shop for luxury goods while on the go, and the app's crypto checkout options make it simple for them to pay with cryptocurrencies like bitcoin or Ethereum. We are dedicated to providing a safe and secure shopping environment for our customers, and we will continue to implement blockchain technologies in our efforts to deter fraudulent activity and safeguard our customers' personal information.

Establishing Successful Collaborations
Aside from enabling customers to make purchases with cryptocurrency, the company is also partnering with a number of luxury brands, such as Gucci, to make it possible for individuals to acquire the high-end items that they have always fantasized about having in their possession. Additionally, True Facet is releasing a new iOS application that will assist in making the purchasing process simpler.

2014 was the year that saw the birth of the business for the first time.

Orizu Ebube

1345 Blog posts