In an attempt to bring cryptocurrencies into the mainstream, a cryptic entrepreneur (or a team) has come up with an innovative idea to merge two passions; virtual currencies and nutrition, allowing spending with cryptocurrencies, known as CoinGrocer.
The fiery anonymous team has launched a beta version of an e-commerce site that allows online consumers to purchase more than 21,000 healthy and organically grown foodstuffs with virtual currencies. The site has partnered with GloBee, a global payments provider, to receive cryptocurrency payments like bitcoin, cash cash, ether, litecoin and monero.
CoinGrocer: an online market that accepts only cryptocurrencies
On June 1, CoinGrocer, a budding online store with a market of over 21,000 organic, natural, gourmet and beauty products, announced its pro-crypto initiative on Twitter.
We have just launched https://t.co/fJhezAAYXW, an online store that sells 21k + natural, organic, gourmet and special products. Thank you @fluffypony for @GlobeeCom We accept Monero, Bitcoin, Bitcoin Cash, Litecoin and Ethereum pic.twitter.com/NsMTtO8JJw
– CoinGrocer (@CoinGrocer) June 1, 2018
The motivation of the initiative, in particular CoinGrocer, came from an anonymous group of bitcoin enthusiasts who want to buy all kinds of daily products with cryptocurrency. Although it was not possible before; the creators came out with an online store that accepted cryptocurrency as a payment method for everyday essentials.
In a conversion with BTCManagerFelix Honigwachs, CEO of GloBee, said: "This partnership allows the direct connection between fresh organic food products and our innovative GloBee payment gateway: Foodstuffs are tangible assets that need individuals, families or businesses like restaurants every day. Using GloBee, Coin Grocer buyers have more options to use their coins, while some have Bitcoin, we support more coins like Ethereum, Litecoin or Monero, which goes with the best choice in spending with more coin payment options. "
Broader support for Altcoin in the near future
The founders of CoinGrocer are confident about the cryptocurrency, hoping that the value of cryptocurrencies increases instead of decreasing. The mission page on the website reported:
"Converting our cryptocurrency to buy groceries shows that it does not have the legitimacy we want it to have, it does not close the cycle as a currency if we first have to convert it."
At present, customers can purchase a range of organic products, including healthy foods, beauty products, health and household products, with bitcoins, bitcoin cash, ether, litecoin, monero and Visa for cardholders BitPay. Nevertheless, website owners are also planning to add more cryptocurrencies to their platform and gradually eliminate the use of Visa cards. Other emerging cryptocurrencies like Cardano, Dash, Decred, Dogecoin, EOS, IOTA, NEO, Ripple, Stellar and Tron are among their choices.
CoinGrocer only serves the US market for now
Unfortunately, CoinGrocer, perhaps the first online supermarket that accepts cryptocurrency, is only available to buyers in 48 US states so far.
However, there is hope that it can expand their services to other countries, or other vendors propose such innovative ideas that show that virtual currencies are, in effect, applicable as a payment option in real life.
Do you think that more merchants should intervene to accept cryptocurrencies as a payment option? Let us know your thIt seems in the comments.