Bitcoin Cash (BCH) Payment Option Added to E-Commerce Platform for Big Spenders
Luxury e-commerce platform Fancy has left Coinbase for BitPay and will soon add Bitcoin Cash as a payment option.
Fancy drop ships high-end products for its customers, showcasing a wide range of luxury goods, from a $22,000 Hermès bags to a $12,500 Aquaglide Arena 30 Inflatable Volleyball Court.
Editors’ Picks include a $16,000 BBQ Boat, a $750 HoloPlayer One Interactive Lightfield Display and a Limited Edition Spider-Man Figurine for $700.
Fancy has accepted Bitcoin as a payment option since 2013. The addition of Bitcoin Cash is a result of switching cryptocurrency payment processors.
The company left Coinbase for BitPay when Coinbase revamped its merchant services in May. At that time, Coinbase stopped processing instant cryptocurrency conversions to US dollars, a requirement for Fancy to operate its marketplace without exposing itself to Bitcoin market volatility.
Since 2013 Fancy has processed about 1,000 Bitcoin transactions.
The company is planning to launch a physical Fancy shop in Manhattan, featuring a cryptocurrency ATM for customers who want more payment options.
Opulence aside, Fancy also offers a service platform for online retailers who want to build their own marketplace. It integrates a simple user interface for customers who choose to check out with crypto.