Purse.io adopts Bitcoin Cash (BCH) natively, Jaqi Lenee explains why


Jun 30, 2018 at 10:58 AM

Bitcoin Cash (BCH) has been adopted by Purse.io, an online marketplace with the lowest listed price on everything. The online marketplace’s aim is to make marketplaces frictionless and to this end they accepted Bitcoin payments. Purse had announced their intent to adopt Bitcoin Cash natively on their Medium page last month. Bitcoin Cash is being adopted across various platforms for payments, netTalk, the VOIP provider is one of them.

Purse aims to empower shoppers across the world by bringing unmatched efficiency and transparency to commerce. Purse’s decision to include BCH support on their platform is to mainly help shoppers save more money. Transaction fees on the Bitcoin Cash network are cheaper and less unstable compared to Bitcoin. Their website reads,

“Our community has demanded more cryptocurrency choice and this is our first big step. To celebrate, we’ve partnered with the Bitcoin Cash Fund to rain cash on you all.”

See Also: Bitcoin Cash (BCH): Lightning network created as a solution to a non-existent scaling problem- Roger Ver

Moreover, Purse has announced a promotional offer to people who shop with or earn Bitcoin Cash. The #CashBack campaign will give shoppers a $10 cash back while earners get the chance to earn $850 worth of prizes. The only caveat to this offer is that you shop and earn before July ends. Their website reads,

“Thanks to the generous support of the Bitcoin Cash Fund, we’ll give cash back to folks who shop or earn BCH before the end of July.”

This offer is applicable for the first 1000 users to complete a purchase paid for using BCH in July.

But why Bitcoin Cash (BCH)?

Purse, which supported Bitcoin since its inception in 2014. They also support a number of different cryptocurrencies via the cryptocurrency exchange, ShapeShift. And Bitcoin is currently ruling the crypto market, so why did they add native support for BCH? Jaqi Lenee who’s part of the product development team at Purse explains why the marketplace adopted BCH now.

In an interview with Ryan X. Charles, she explains that when they started out with Bitcoin, they really believed in its usability. Moreover, the transaction fees at the time were cheaper. But with increased popularity, both the transaction times and speeds were affected. It longer to process transactions and cost much more than before which affected the platform’s users.

By supporting BCH, the platform provides its users with the option to choose an alternative payment method that’s cheaper and quicker. Bitcoin’s volatility was also an issue, she explains. For example, a user is sending funds and it cost $5 then, but 20 minutes later it’s increased to $50. This is because of the volatility in Bitcoin.

She further explains that Purse would refund the money to ensure customer satisfaction, but this wasn’t a feasible option. This was one of the main reasons for providing native support for BCH on Purse.

Image via CoinReport

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