Nov 23, 2022•2 min read
Crypto has finally made its way into the fashion industry, with e-commerce sites accepting cryptocurrency as an alternative payment method. While there are over 400 other cryptocurrencies, Bitcoin and Ethereum have gained popularity and are frequently accepted for things that were previously exclusively purchased with fiat cash.
Cryptocurrencies may be new, but that doesn't mean they're not important. They represent the future of commerce, making it easier and safer to complete transactions.
Gucci has announced that they would take ApeCoin and Euro Coin through the cryptocurrency payment processor BitPay. These are in addition to Bitcoin, Ethereum, Dogecoin, and many more cryptocurrencies.
Gucci predicts that by August 2022, all of their US stores will accept cryptocurrency payments.
The French luxury store Balenciaga has announced that it would take Bitcoin and Ethereum. When questioned about cryptocurrency value fluctuations, Balenciaga stated: "Balenciaga is thinking long-term about cryptocurrency, and currency value fluctuations are nothing new."
The value of coins and tokens may be tracked using cryptocurrency live price charts.
TAG Heuer, a luxury watch brand, is now accepting cryptocurrency payments of up to $10,000 from US customers.
Farfetch, the luxury retail platform, has announced that it will accept cryptocurrency payments alongside other major retailers. Their goal is to allow all customers in the United States, the United Kingdom, and Europe to pay with cryptocurrency by the end of 2022.
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