More people than ever before are getting paid in cryptocurrency

Crypto Payroll is on the Rise

How people think about crypto is changing. No longer are digital-coins considered only by the investor or the tech-minded. As the industry grows, crypto is being embraced more and more by the everyday - the everyday business, the everyday individual - a new generation of crypto-enthusiasts that understand the value of decentralised currency, and choose to get paid in it, too.

The shift towards crypto-payroll is largely due to the growing, mainstream adoption of blockchain and digital cryptocurrencies, and the recognition of this technology as a legitimate and credible form of payment. Blockchain technology is secure and transparent, and the crypto-holder ultimately has control over their own assets, without the need for banks or centralised exchanges.

For the employer, using crypto as a payment vehicle removes many of the added costs and transactional issues that arise when using traditional fiat banking methods, such as flat-transactional fees, exchange rate currency conversions, and additional costs that might arise when sending money abroad, be it to an employee or customer. On top of this, you have annual banking fees, as well as processing times, and potential delays when facilitating the range of transactions that may be required by your business.


Crypto transactions are more or less instantaneous, and international transactions can be made without the need for currency conversions or charges. Crypto holds the same value wherever you are - one bitcoin is one bitcoin.

As remote work and digital nomadic lifestyles become the norm, particularly within tech and web3 industries, adopting cryptocurrencies as a method of payroll becomes a legitimate and attractive way of transacting, as well as a means of enticing potential employees to your company. As businesses become more web3 centric, we have seen a rise in the number of crypto payroll platforms that assist companies with crypto-adoption, helping to facilitate payments and advising with tax-issues and costs that may occur for businesses using cryptocurrencies in this manner.

As crypto is embraced as a method of payroll, more businesses will be willing to accept crypto as a form of payment, because that is the currency their customers will use. If people are paid in crypto, then it is only natural that they will want to spend crypto as they would if they were receiving their salary in fiat. As the growth in crypto payroll companies shows, the everyday person is becoming more knowledgeable regarding the benefits of holding and spending cryptocurrency.

For those with crypto to spend, GM.co is the largest crypto-marketplace in the world, where users can buy physical products and digital items such as gift-cards, transacting entirely in crypto - paying straight from your wallet, with goods delivered straight to your door. 

Buy and sell with crypto, on GM.co

A step by step guide on how to bridge ERC-20 coins to a new crypto network, using MetaMask

Bridging ERC-20 Coins to a New Crypto Network on MetaMask

Crypto is a rapidly-developing industry that can often be hard to navigate, when the space moves as fast as it does. New chains and coins are emerging all the time, and knowing how to move between them can be beneficial to your crypto-journey. 

With GM.co going Multi-Chain, we have prepared a step-by-step guide to help you bridge your ERC-20 coins to a new crypto network, on MetaMask.

Step 1: Adding a New Network (or “Chain”) on MetaMask

1.1. Open your MetaMask extension or app and ensure you're logged in.

1.2. Click on the network icon in the top left corner and select "Add Network".

1.3. Follow the prompts in your browser to find and add a new network. Currently, GM.co supports Polygon, Binance Smart Chain, Avalanche, and Arbitrum One. In this example, we are adding the Binance Smart Chain network.

1.4. Once created, switch your MetaMask network to the one you've just added. You can use the browser prompt, or you can also toggle between chains in the extension by clicking on the network Icon.

Step 2: Sending ERC-20 Coins to the New Wallet

2.1. In your MetaMask wallet, copy your wallet address.

2.2. From an exchange, you can send your ERC-20 tokens to your new MetaMask wallet address. Check that the new network you added supports the ERC-20 token you wish to send, and check that the exchange you are using is able to send using that network! In this example, we are sending ETH to our BNB Smart Chain wallet on MetaMask, using the BEP20 network.

2.3. Enter the amount of ERC-20 tokens you want to transfer and double-check the recipient address before confirming your transaction.

2.4. Wait for the transaction to be confirmed. Once confirmed, the ERC-20 tokens will appear in your new wallet on the designated chain.

2.5. If the token does not appear in your MetaMask wallet, simply use the “refresh list” or “import token” function. In this example, we manually added the new token contract 0x2170Ed0880ac9A755fd29B2688956BD959F933F8. Now you can see your token sitting in your wallet.

Step 3: Sending Native Tokens for Gas Costs

3.1. To cover gas costs on the new network, you'll need some native tokens of that network (e.g. MATIC for Polygon, BNB for Binance Smart Chain, etc.)

3.2. From your exchange, you can purchase and send the native token to your new MetaMask wallet, once again ensuring that you are using the correct network. In this example, we are sending BNB using the BEP20 network.

3.3. Once the transaction is confirmed, the native tokens will be sent to your new wallet, allowing you to cover gas-costs for future transactions on that network.

Congratulations! You've successfully bridged ERC-20 coins to a new crypto chain on MetaMask and are ready to explore the functionalities of the new network.

GM.co goes Multi-Chain - shop with crypto on GM.co

GM.co goes Multi-Chain

GM.co is excited to announce the release of our multi-chain integration.

As part of our commitment to providing a user-centric buying experience that harnesses the power of the blockchain, multi-chain offers users the opportunity to transact in the chain of your choice, with significantly reduced gas transaction fees and incredibly fast transaction times.

At launch, GM.co will support 4 new chains - Binance Smart Chain (BSC), Avalanche (AVAX), Arbitrum (ARB) and Polygon (MATIC).

Binance Smart Chain - USDC, USDT, BUSD, BNB

Switching chains is easy - simply select your choice of chain from the drop-down box on the header-bar, and give MetaMask wallet permission when prompted to make the change. If you don’t have the chain already added, it will be added automatically for you.

As we continue to scale for user-adoption, the addition of new, market leading chains will allow GM.co to stay ahead of the ever-changing crypto landscape. The support of more EVM-compatible chains will allow us to attract further existing crypto-users to spend their crypto currencies on the platform, in a cost-effective environment for buyer and seller, with transaction fees being as low as $0.005 (Arbitrum). This a remarkable improvement from previous average gas-fees on the Ethereum network, and offers GM.co users the best value possible. 

Future integration of new and upcoming chains will align GM.co with the top crypto-communities. Multi-chain partnerships can help bring more awareness and users to the platform, as well as co-marketing opportunities, and partnership benefits that arise for our users and holders alike.


GM.co will continue to develop as a platform in order to provide the best possible user experience. We strive to provide you with what you need, when you need it, with all purchases transacted entirely in crypto -  straight from your wallet, straight to your door. 


Buying real-world items with cryptocurrency is the next step in the industry's evolution.

Crypto as a currency

Crypto is pumping. The markets are green - the fear and greed index is fixed firmly over ‘greed’ -  but that’s a good thing, right? It means we’re all going to make it?

The industry is certainly experiencing some much needed upswing. The crypto market-cap is over $2 Trillion USD at the time of writing, and more people than ever are now cryptocurrency holders - 580 million worldwide, a huge increase in the last couple of years, in what was a long and chastening bear market period.

But what does this mean for crypto? As the increase in holders suggests, more and more people are recognising the power and benefits of decentralised currencies. Whether as an investment vehicle or as transactional currency, crypto gives you control over your own finances. 

Crypto has many use cases that will become prevalent as the industry develops and holdership grows, and one way to realise market-stability and mainstream-adoption is the ability to use crypto as genuine currency - namely, to shop with it, spend with it, buy and sell with it, all in a safe and secure decentralised environment, transacted on the blockchain. 

Being able to shop with crypto means you don’t have to convert crypto to fiat. The coins you hold in your wallet have value just as they are. Buying everyday items using cryptocurrencies gives the industry a real-world, tangible use-case that will attract more people into the ecosystem, with more businesses becoming crypto-friendly because their consumers are.

At GM.co, we recognise the importance of crypto being genuine currency - to buy and sell with crypto for the things you want and the things you need. Buy sneakers with crypto, buy watches with crypto, buy gift cards with crypto. Soon, it will be commonplace to buy your groceries with crypto, pay your bills with crypto, everyday transactions powered by cryptocurrencies and the blockchain.

GM.co is at the heart of blockchain powered e-commerce, providing you with what you need, straight from your wallet, delivered straight to your door.

Digital Gift Cards available for purchase with Cryptocurrency on GM.co

Buy Digital Gift Cards with Crypto on GM.co

Digital Gift Cards - now available to purchase on GM.co


Explore our extensive catalogue of gift cards and choose from a wide range of international locations, all available for purchase with cryptocurrency - straight from your wallet, delivered straight to your inbox.


Featuring brands such as Steam, Amazon, Uber/Uber Eats, Deliveroo, Spotify, Playstation, Xbox, Twitch and many more, there is a gift card and value range for every person and occasion. 

And with secure and transparent blockchain transactions and blockchain digital gift security, you can be sure to shop with confidence on GM.co - the best place to shop with crypto.

Explore the range here

Blockchain is changing the fashion, luxury, and art world. Learn and adapt.

Three Businesses The Blockchain and Crypto Payments Are Taking Over

If you own or work for a fashion, luxury brand, high-ticket item, or art and collectibles business, it's crucial to recognize the transformative impact of blockchain technology and cryptocurrency payments on your industry.

The landscape of your business is evolving rapidly with the advent of web3, blockchain, crypto, and NFTs. If you've dismissed these terms, thinking they won't affect your operations, it's essential to reconsider. In reality, blockchain technology is reshaping all aspects of the digital realm, and it's only a matter of time before its influence permeates your industry.

From enabling crypto payments for purchases to revolutionizing how online identities are managed, the impact of blockchain is inevitable. In order to stay ahead in your field, it's imperative to understand how these web3 technologies will reshape and redefine the way your business operates.

In the fiercely competitive landscape of the fashion industry, where margins are razor-thin, gaining any advantage can significantly contribute to the survival and success of your business. Blockchain technology, and crypto-currencies, can contribute to this success.

Tokenized Drops: Limited-edition designs can be accompanied by Non-Fungible Tokens (NFTs), and companies can grant exclusive purchase rights to NFT owners. Exclusivity through digital ownership can enhance a business’s brand and prestige, and NFTs can also serve as a means to crowdfund new fashion collections.

Anti-Counterfeiting: Employing blockchain and NFT technology will ensure easy verification of the authenticity of your apparel, effectively eliminating counterfeit products.

Luxury brands thrive on exclusivity and mystique as crucial elements in sustaining their inherent value, and blockchain technology proves to be an invaluable ally in achieving this objective. In the realm of high-value products, blockchain not only enhances security but also streamlines transactions, adding an additional layer of assurance and convenience.

Authenticity Verification: Luxury brands can utilize NFTs to offer customers peace of mind by enabling them to independently verify the authenticity of their purchases without the need for an appraiser, effectively combating counterfeit products.

Provenance: Leverage blockchain to verify the provenance of products, providing a transparent history, including previous ownership. When combined with crypto transactions, this offers a secure and discreet method of purchasing.

Large Purchases: Streamline hassle-free transactions for high-value items like real estate, yachts, luxury cars, or rare jewels through crypto payments, avoiding the scrutiny of banks. NFTs also simplify ownership transfers, eliminating the need for extensive paperwork.

In the art and collectibles realm, where uniqueness and authenticity reign supreme, blockchain technology facilitates an efficient and secure process.

Authenticity: NFTs play a crucial role in verifying ownership and authenticity for rare collectibles, from art to vintage items. This simplifies the verification process, providing clarity on ownership.

Exclusivity: Artists and galleries can maintain exclusivity by selling to a select group of individuals who own NFTs tied to the collection. These limited-quantity NFTs can also serve as membership access, enhancing the sense of exclusivity.

Provenance: For collections with historical significance, blockchain ensures easy tracking of previous owners. When coupled with NFTs, the authentication process becomes straightforward, reducing the potential for disputes.

Blockchain technology and crypto payments are not mere trends or passing fads; they constitute the emerging foundation for the next evolution in online commerce. With immense potential, they stand poised to revolutionize the entire shopping experience.

If you’re looking to expand your business to sell to the crypto community, then look no further. GM.co is one of the world’s first crypto shopping platforms connected to the blockchain, with ready buyers who want to shop with crypto. Grow your business, with GM.co

Leave fake reviews behind with the help of the blockchain. Secure, honest feedback for better online shopping with crypto.

Tired Of Fake Reviews? Blockchain & Crypto Payment To The Rescue

Andy has been staring at his phone for over half an hour, scrolling through reviews for a watch that caught his eye. Everything seems good; he likes the item and the product reviews are great. With a tap on his screen, he buys the watch and eagerly awaits its delivery.

But Andy’s watch never arrives, and the merchant he purchased it from has seemingly disappeared into thin air. The online reviews were fake. He’s frustrated - his money gone.

Situations like Andy’s are not uncommon for the millions of people who shop and sell online everyday. The rise in fake reviews is an existential problem for e-commerce, and one that is difficult to combat. Fake reviews tarnish the industry. They deceive unsuspecting shoppers, and damage the reputation of businesses, with fake reviews providing an unearned advantage (or disadvantage) to sellers.

Online Reviews Can Make Or Break A Business

Shoppers love the convenience of shopping online, and this is reflected in the success of the industry. The global retail e-commerce market is predicted to cross 6.3 trillion US dollars in 2023 (1). For these consumers, one of the key deciding factors before making a purchase is online reviews. Almost half of shoppers say they trust online reviews as much as personal recommendations, showcasing the power and influence reviews have within the industry. (2)

Yet where there’s money to be made, fraud will often rear its ugly head. In online shopping, fake reviews alone could potentially cost businesses 152 billion US dollars a year. (3) In 2019, Amazon spent more than 500 million US dollars and employed more than 8,000 people to reduce fraud and abuse on its platform. (4)

But why are fake online reviews so rampant? Perhaps the most common reason is because they’re easy to write. Online reviews are unregulated, meaning anyone can comment on any product whether truthful or not, with no-one to stop you. Most e-commerce platforms don’t have sufficient safeguards or processes to combat this, if they have any consideration for this at all.

The World Economic Forum highlighted a potentially significant reason for the high number of fake reviews we see online is due to the fact that they are extremely profitable. Writing fake reviews could yield as much as 20 times the money spent by these unscrupulous sellers. 

So how could Andy, or any other online shopper avoid being deceived by fake online reviews?

E-commerce sites leveraging blockchain technology are able to guarantee that when someone praises or laments their online purchase, they have actually bought and used it. The blockchain ensures a true and accurate product review system that all parties can trust, and where potential buyers can put their mind at ease knowing that the reviews they are reading, whether good or bad, are genuine and from real buyers.

But How Does Blockchain Technology Stop Fake Reviews?

The blockchain is a decentralized ledger of digital transactions. Each transaction is validated by multiple participants. It is transparent and tamper proof due the way the transactions are recorded.

Think of the blockchain like a detailed diary that never lies, forgets or erases anything, and is accessible to everyone. Once something is jotted down in this diary, it is there for good, without the capacity to change or edit the contents.

Now imagine everyone else you know maintains the same identical diaries. If you did want to embellish or change what is written, you’d have to convince everyone to rewrite their own pages. It would be virtually impossible.

With the use of a smart contract, the review system can be shown only to genuine buyers, ensuring transparency, and authenticity.  

Benefits of Blockchain Technology For Online Shopping

Marrying the blockchain with an online review system is a tamper proof way of verifying and preserving the authenticity of shoppers’ feedback. And beyond eliminating fake reviews, there are more advantages that blockchain powered commerce brings to the table.

Crypto Payment - Shoppers are able to spend their crypto to buy real life goods without the need to convert their funds to real world money (Fiat). Crypto payment is secure, transparent and borderless, making it easy for a shopper to buy almost anything from anyone across the world.

Verified Purchases - The blockchain can prove that a reviewer has genuinely bought a product or service.

Smart Contracts - These programmable digital contracts can automate and verify the status of a sale. For instance, a product needs to be successfully delivered before a buyer can leave a review.

Tamper Proof Reviews - Once a review is recorded on the blockchain, it cannot be altered or deleted by merchants, competitors, or even the platform itself.

Transparency In Incentives - If a platform offers incentivised reviews, the blockchain can transparently record these transactions, so other potential buyers know it is a paid or sponsored review.

Tokenized Incentives - Platforms can reward genuine reviewers with tokens that are recorded on the blockchain. This ensures genuine incentivization and avoids the pitfalls of hidden promotional reviews.

At GM.co, the benefits listed above are a reality. We leverage blockchain technology, ensuring the safety and security for our shoppers and merchants. Shopping with cryptocurrency makes this possible - only real buyers can leave a review for an item and share their thoughts and experiences of using it. Other potential shoppers know that they are reading real reviews, and we as a platform get authentic feedback on the products.

Blockchain technology is a major step-forward for restoring trust in the online review ecosystem. It ensures transparency, validates transactions, and makes information tampering almost impossible. Via the blockchain, the era of fake reviews will soon come to an end.

(1) https://www.forbes.com/advisor/business/ecommerce-statistics/
(2) https://www.oberlo.com/blog/online-review-statistics
(3) https://www.weforum.org/agenda/2021/08/fake-online-reviews-are-a-152-billion-problem-heres-how-to-silence-them
(4) https://hbr.org/2020/11/how-fake-customer-reviews-do-and-dont-work

GM.co - Art Basel Miami Beach 2023

Art Basel returned to Miami Beach this year for another spectacular showcase of modern and contemporary art. With hundreds of galleries and artists on display, patrons from around the globe descended on the balmy beach-town in their thousands and enjoyed an abundance of installations, exhibitions, panels and parties at what is considered to be the ‘pre-eminent art fair in the Americas’. 

In recent years, digital art and web3 blockchain offerings have seen a remarkable rise at Art Basel Miami Beach, and 2023 expectations were high for an extravaganza that keeps getting better and better.

GM.co was in attendance to experience everything Miami had to offer. 

The team started the week with an event hosted by Tezos blockchain at Nautilus Sonesta, where they were in the audience for panel discussions on what was an apt topic for the week - ‘Art and Culture’, at an event that champions creation and innovation across multiple spheres and platforms. 

Later, GM.co attended the World of Women Artfest Exhibition, an event that showcased multiple creators and builders of different disciplines, with traditional, digital and immersive art experiences all on show for the attendees to explore.

There was a chance to catch up with our PXN holders for some food and drinks at Yard House, before attending a BBQ and mixer the following day, hosted by DeGods and Kraken. The night was spent in the company of our friends and partners Pudgy Penguins where GM.co was lucky enough to see a sneak-preview of the ‘Pudgy World’ video-short, before it was revealed to the wider web3 world at the Pudgy Penguins party held the next evening, of which GM.co was one of the principal sponsors. This highly-anticipated event brought together many web3 communities, and the attendees were transported to their very own ‘Pudgy World’ winter-wonderland.

It was a jam-packed few days of networking and socialising. The weather was glorious (not everyone gets to see sunshine in December), and the thousands of attendees once again proved that the crypto-industry, through adoption at events such as Art Basel, is going from strength to strength. The ever-growing number of builders, innovators and creators embracing crypto and blockchain technology is a clear indication that web3 is a place people want to be part of.

PXN and GM.co were in attendance at ApeFest 2023 in Hong Kong with our partners Gangster All Stars (GAS) and the world-wide crypto community.

ApeFest 2023 - Real world, real connections

ApeFest 2023 headed to Hong Kong, as thousands of crypto-fans came together for another week of IRL activations, spearheaded by web3 legacy project BAYC (BORED APE YACHT CLUB). 

PXN and GM.co were once again in attendance, and together with our friends and partners Gangster All Stars held an event at The Eastern Pub, with food, drink, entertainment and co-branded merchandise and artwork on show. 

It was another fantastic night in a week that was buoyed by a strong upturn in the crypto-markets and the long-awaited release of $MEME, bringing back the bullish sentiment as crypto-holders started to dream that the bear might finally be over. 

Whatever the market conditions, web3 activations show no signs of slowing down, and events like ApeFest prove that bull or bear, the global crypto-community will come together to support their favourite projects, network, socialise, and perhaps most importantly, have fun. 

GM.co - coming soon to an event near you?

Shopping with crypto for Black Friday made easy with GM.co

Shop Black Friday Bargains With Cryptocurrency

Black Friday is almost upon us, so it’s a good time to dust off your Christmas list, take a walk around the house, and figure out the difference between what you really want and what you really need. It seems like everything is on discount, and Black Friday sales now start earlier and last longer than ever before, fantastic for the consumer who might be looking to pick up a bargain - who can turn down 70% off, well, anything? 

When it comes to mega-sale events like Black Friday, it’s a good idea to remember one or two self-imposed rules to make sure you’re getting the best deal from the thousands of options worldwide. 

Do I really need this? If you are willing to buy the item at full-price and it’s now 50% off, then you are saving 50%, and it’s a good deal. 

If I wasn’t going to buy at full-price and I am buying because of 50% off, you are not saving 50%, you’re paying 100% of the price, relative to you. 

Whatever you’re shopping for this Black Friday, GM.co might have exactly what you need, transacted entirely in crypto, straight from your wallet, delivered straight to your door. 

Be sure to check out our socials for deals, discounts and offers this Black Friday. 

The team at GM.co was out in full force at this year's TOKEN 2049 Singapore to build connections with the industry and community

Building Connections At Token 2049

The team at GM.co was out in full force at this year's TOKEN 2049 Singapore, a week-long crypto extravaganza that brings together the ‘global Web3 industry’ in beautiful Marina Bay Sands. 

It was a fantastic few days of networking and socialising with crypto enthusiasts from around the world, and GM.co was at the heart of many of the events held during TOKEN 2049. 

We opened up the week with our very own NFT (PXN) holder event at Jekyll and Hyde, and the team were also in attendance at a mixer hosted by our friends and partners UKISS. 

Our CEO Julian joined a speaking panel alongside web3 industry leaders Pudgy Penguins, Layer Zero and WOO, and we shared the stage once again with Pudgy Penguins at our co-hosted event held in Singapore’s famous Mandala Club, with hundreds of people in attendance. It was a spectacular evening with games, gifts, goody-bags and co-branded merch on offer, for what was one of the premier events of TOKEN 2049. The night was a huge success, perfectly put together by everyone involved, and it was a fitting way to round off a brilliant week. 

IRL events such as TOKEN 2049 are and will continue to be so important to the growth and success of web3. In what is a global, digital industry, the ability to bring people together from all walks of life and make face-to-face connections is something that cannot be understated. 

For a business, visibility at events such as TOKEN 2049 can help bring a whole new audience, revenue stream and level of interest that cannot be achieved online. We at GM.co are committed to bringing our platform to the entire crypto-community, so we will go where the community goes.

GM.co, where shopping meets crypto. Crypto payment for real life goods and digital services made easy.

Welcome to GM.co - Where Shopping Meets Crypto

GM.co was built to provide a real-world use case for crypto.

A platform for crypto-holders to spend crypto as a real-world currency, as you would with any other digital currency.

To buy and sell everyday items, anywhere in the world, with crypto.

Next generation e-commerce for the next generation of shoppers.

GM.co is a dynamic, constantly evolving platform that serves the needs of over 400 Million crypto-holders worldwide. 

With new merchants and sellers being onboarded weekly, and an ever-expanding product list, GM.co allows the crypto-consumer to buy and sell what they need, transacted entirely in crypto, in a safe and secure decentralised environment, powered by the blockchain.

Embrace the future. Shop with crypto for a better way to purchase online. Learn why.

Crypto Payment - The Better Way To Shop Online

We are no strangers to digital payments. People from all over the world are likely to have used some form of digital currency to pay for physical goods, bills and services online. Cash usage diminishes each year, and brick and mortar branches are closed as banks and traditional finance systems move towards industry digitalisation. But the current digital payment landscape is not perfect, and there are many inefficiencies that new technology seeks to improve upon.

You might not think you have used ‘digital currency’, but the chances are you have. Crypto is a digital currency that stands apart from the traditional markets, and utilises emerging blockchain technology to revolutionise online payment security and efficiency. Crypto payment technologies can make financial transactions faster, cheaper and safer.

The crypto market is sometimes viewed as a volatile, speculative asset, with limited real-world use cases. This is a somewhat unfair assessment, that springs from lack of understanding of the industry. Crypto is built using blockchain technology, and blockchain technology is rapidly being integrated into all kinds of businesses, both established and emerging. The benefits of blockchain adoption, and the wider crypto-market a business or industry can harness as a result, allows them to stay relevant and be at the cutting edge of security and business transformation.

It is how cryptocurrencies are used that is misunderstood. For a long while, crypto-holders had limited options as to how to spend their digital coins as real-world currency. Online shopping was (and is still) transacted largely in ‘fiat’, and crypto-holders had to off-ramp (convert) their crypto to fiat to buy the things they needed. 

With the rapid growth of blockchain and crypto payment integration with online shopping platforms, this is quickly changing. Crypto is being seen as, and used, as a real-world currency, and more and more e-commerce platforms, as well as brick and mortar businesses are accepting crypto at the point of purchase, giving real-world value to this new and emerging digital currency. 

Benefits Of Using Crypto As Payment Currency

Cryptocurrencies have the same denomination anywhere in the world. The value of 1 Ethereum or 1 Bitcoin, is the same globally. Crypto is a simple digital currency to transact with because it is valued the same everywhere - a universal currency. There is no need for currency conversion when paying in crypto.

Own And Manage Your Own Crypto

Crypto is decentralised, meaning as an owner you will have complete control over your assets, without the need to hold them in a financial institution such as a bank (in the case of fiat) or a crypto exchange such as Binance. Payment can be made or received straight from your crypto wallet, greatly increasing security and removing the chances of outside influences affecting the assets you hold.

Lower Transaction Fees

Shopping with crypto lowers transaction costs normally associated with platform usage and currency exchanges. You can directly pay merchants without any intermediary, and easily transfer large payments across borders for high ticket items, without the approval from your bank (as long as you have the funds to pay for it.)

Higher Security For Transactions

Crypto shoppers can be confident that their crypto payment will reach their intended merchant. All transactions on the blockchain are secure, and there is no way to intercept the transfer. Transactions are recorded across many distributed ledgers which greatly reduce the possibility of fraud, meaning any payment disputes will soon become a thing of the past.

Not everyone enjoys using financial institutions. Some don’t even have access to banking facilities, and might be considered ‘unbanked’. Crypto is a decentralised industry, and those people considered unbanked, from all parts of the world, are able to buy and transact online through shopping with crypto. Crypto payments make it easier for us to transact with one other, without the need of a centralized banking ecosystem to help manage the transaction. This gives everyone fair access to buy anything they want globally. (as long as it's legal in their country)

Instantaneous Payment

Crypto payments are settled in minutes, no matter the transaction amount or the location of the parties involved. International transactions are also incredibly simple, with no downtime or currency conversion in the process. The speed with which transactions take place and the security layers involved mean crypto payments are a real-world benefit to businesses and shoppers alike, as well as e-commerce industries at large.

Paying with crypto is as accessible as paying with fiat. As long as you have access to the internet and your crypto wallet (be it on a computer or a mobile device) you’re able to shop with crypto. You can easily transfer funds and make purchases from wherever you are. 

With many e-commerce platforms integrating crypto payment, online shopping is now more secure than ever. GM.co exclusively accepts crypto payment for real life goods and services, and is run by smart contracts, powered by the blockchain. This provides an additional layer of security and transparency for anyone shopping on our platform. 

Say goodbye to fraud and hello to trust with blockchain escrow. Shop online with peace of mind.

Escrow and The Blockchain - A Perfect Match

Online commerce has made it quick and easy for shoppers and consumers to buy whatever they need, from pretty much anywhere in the world. Digital currency and internet access has made shopping a hassle-free endeavour. From a vendor perspective, online commerce has helped businesses grow and reach wider markets. Merchants are able to sell to global audiences with fewer geographical constraints. According to Oberlo, in 2023, an estimated 2.64 billion shoppers will have completed at least one online purchase, (1) many of these purchases coming from businesses outside the buyers home region and country. 

The e-commerce sector is booming. However, as with any other industry, there are issues that can affect deliverables and reputation. A significant problem in e-commerce is the issue of ‘fraud’, be that products, payments or reviews. E-commerce fraud affects both buyer and seller alike, whether from faulty or inconsistent goods, fake reviews, or insincere claims that lead to unfair chargeback costs or replacements for items that should not be replaced. There are many nuances to fraud within the industry, and these issues are sometimes tricky to entirely address. 

Have you ever been burned by an online purchase gone wrong? If you have, you're not alone. With the rise of online shops and marketplaces, it is sometimes difficult to find a reputable seller, especially with smaller ticket or specialised items, that might not feature on more well-known platforms. Security protocols are not always at the forefront of every e-commerce platform, and with limited legislation and controls, scammers can find ways to compromise the item you buy in good faith. 

But what if there was a solution that combines trust with new-age technology? Before we investigate, let us first imagine this scenario:

Jane is an avid fashion blogger and is accustomed to shopping online, whether from larger brands or small independent stores. So far, her online shopping sprees have been smooth sailing, but her luck appears to have run out.

Jane finds a retro shop selling vintage bags at a large discount. The site looks legitimate with a return policy that allows her to easily return the bags for a swap or refund. Satisfied with what she sees and has read, Jane spends over $2,000 on a few handbags.

A week passes. Then another. A month comes and goes. At present, Jane has waited two months for her items, apparently in vain. According to the merchant, the handbags have been shipped, but Jane never receives them.

Jane is unable to come to a resolution with the merchant, who insists that the items have been shipped. She instead tries to get the bank to reverse the charges on her card, which they eventually do, after a significant amount of time has passed, not to mention the time spent trying to get her refund and the stress the incident has caused. It is not unusual for people to write-off their purchases as a bad experience, and forgo the hassle of trying to recover their items or expenses. 

With the use of blockchain powered escrow and crypto payments, the problem Jane faced will be a thing of the past for the next generation of shoppers.

Blockchain technology utilises a process called ‘escrow’. An escrow is a third-party-held agreement where goods or money are retained until both parties fulfil their obligations, ensuring the validity and fulfilment of the purchase made. Escrow by itself is a good safety net, but by combining it with the power of the blockchain, it becomes a formidable feature to protect both shoppers and merchants.

The blockchain is a decentralized digital ledger where transactions are recorded publicly. Each transaction is verified across multiple validators, ensuring that it's almost impossible to alter or delete the information once it's confirmed. Using smart contracts, the trustworthiness of the blockchain and the reliability of escrow can be merged to make online shopping safer and secure. 

At GM.co, we provide blockchain powered escrow that ensures crypto payments held in our smart contract are automatically released only when the right conditions are met. This is made possible by allowing shoppers to shop with cryptocurrency.

Let’s Learn How A Blockchain Powered Escrow Works

Jenny found an online shopping marketplace where she can shop with crypto, that sells her dream heels. As the price of the shoes is expensive, she was in two minds about getting them at first, due to a previous bad experience buying a high-priced item online.

After exploring the marketplace, she learned that it provides a blockchain powered escrow service. Her confidence increased, because Jenny knows that with escrow she can be assured that her crypto payment will be safely locked away in a smart contract, only to be released to the business once she receives her purchase.

Blockchain powered escrow gives both the shopper and merchant the peace of mind. No more long calls with the banks for shoppers to get their money back nor chargebacks that would eat into a merchant’s bottom line. Everything on the blockchain is transparent and trustless which will significantly reduce cases of e-commerce fraud.

GM.co provides blockchain powered escrow that protects shoppers and merchants, serving as a security feature to ensure a fair transaction is conducted between them. So the next time you go on a shopping spree online, it’s reassuring to know there’s a trusty safeguard, once blockchain powered escrow becomes the norm on all shopping platforms. 

1) https://www.oberlo.com/statistics/how-many-people-shop-online