Cryptocurrencies have been expanding during the last few years and they were able to reach a larger number of users and investors from all over the world. Nonetheless, in the last few months, there has been a massive push for virtual currencies to reach new users thanks to product management and productization.
In the crypto space, there are different companies that are helping to achieve this task, some of them include Binance, Coinbase, Square and TravelbyBit, among others. Using crypto for commerce is going to be very useful and efficient for many companies in different regions and jurisdictions to attract new users.
Getting Into Crypto Commerce
Binance and Coinbase are perhaps the most popular trading platforms in the crypto industry. Users can exchange digital assets for fiat currencies and enjoy a wide range of services they are now offering.
Some of these services take into account larger applications of blockchain technology in the commercial area. This includes Binance opening itself to P2P payments for merchants or Coinbase allowing stores to accept digital currencies as a means of payment.
According to a recent report released by SEMrush, Bitcoin reached the top 3 methods to pay for online goods and services after PayPal and PostePay in Italy. This shows that there is a real demand for crypto and blockchain solutions to perform e-commerce activities.
One of the main reasons behind this massive interest in Bitcoin is related to the fact that it is very easy to use and it provides users with more privacy than traditional credit or debit cards. Now that 2020 is ending with a very positive price increase, not only for Bitcoin but also for other altcoins, the interest for these digital assets as a means of payment could continue growing.
It is worth mentioning that there are many other companies investing in cryptocurrencies. This is pushing the price of digital assets higher. However, product management and productization in crypto is a real trend that continues to grow. Firms are thinking of adding different crypto solutions to their services and products. Moreover, their strategies are highly related to how the crypto market is moving.
Product Management and Productization In Crypto
Companies in the crypto space are now moving forward by improving their strategy in terms of product management and productization. Indeed, they are improving their products, improving their businesses and offering the services users are searching for.
For example, TravelbyBit has recently partnered with Expedia to offer clients the possibility to purchase hotels and flights using a wide range of cryptocurrencies, including Bitcoin. This is part of a marketing strategy that would like Bitcoin, Expedia and the crypto company TravelbyBit offering users great services and solutions to cover their needs.
Firms are also conducting continuous competition analysis and checking which are the services that other competitors are offering. Exchanges are expanding their solutions and offerings by adding staking and fixed-term investments besides the traditional spot trading offered.
This is clearly a strategic decision that will certainly push the whole cryptocurrency market and space towards a new era of adoption. Furthermore, product management and productization in crypto is a real trend that might not be stopped by regulations.
Conclusion
Bitcoin and virtual currencies have the possibility to make e-commerce faster, better and cheaper for individuals. This is one of the main reasons why companies are placing large investments in e-commerce solutions and in product management and productization. In the future, the whole crypto market, including the price of Bitcoin, will have a decisive impact on the use cases of virtual currencies. In the future, new projects could be released using virtual currencies.
