- AlfaEgo is the first and only premium leather men’s store that accepts payments in cryptocurrencies Bitcoin, Ethereum and Litecoin as well as USD. In a statement announcing its the roll out of cryptocurrencies payment the company’s CEO, Firasath Ali stated, "Cryptocurrency values have surged by over 1200%, rising to a phenomenal market cap of $200 billion from around $17.7 billion two years ago. This rapid growth has been brought about by increased visibility and acceptability by the global markets. Consumers are increasingly attracted to the high-level security, low transactions fees and privacy offered by blockchain technologies and are increasingly adopting cryptocurrencies as their preferred mode of payment. We believe that cryptocurrencies offer our customers a more efficient way to shop securely and conveniently”
The online retailer who specializes in genuine leather bags, belts, shoes, wallets and Gift sets for men is widely known for their premium quality products. Traditionally, the men’s fashion market has been largely groom and old-school. AlfaEgo is determined to change this narrative by delivering premium leather products conveniently to consumers. Besides, the company is geared towards offering fair and competitive prices for their products, ensuring that customers derive a value for money.
In a bid to offer customers with added convenience the company has launched a simple and secure platform for online payments. Customers can use the currency selector button to choose USD, Bitcoin, Ethereum and Litecoin and see a product priced in the selected cryptocurrency. The check-out process is extremely simplified and buyers do not require any technical or complicated skills to purchase from AlfaEgo.
AlfaEgo and Coinbase Commerce
AlfaEgo is integrated with global cryptocurrency-based payment platform, Coinbase Commerce, to facilitate transactions in Bitcoins, Ethereum and Litecoin. All payments done using the Coinbase commerce platform are done on-chain. This means that the transactions are recorded in real-time in their respective cryptocurrency blockchain network. A bitcoin transaction done on AlfaEgo is directly transferred to Bitcoins ledger for validation and authentication. Dependency on the blockchain network eliminates any instance of fraud or corruption. Customers on AlfaEgo can, therefore, be rest assured that their transactions are safe, secure and anonymous. Coinbase commerce accounts are also separated from standard Coinbase accounts. Coinbase commerce integration will, therefore, only act as a mechanism for accepting cryptocurrency and in no way can the merchant access customer information.
In a statement, the company’s CFO Basalath Ali stated “This integration allows AlfaEgo to access a global clientele and retain a seamless system for cross-border payments. Customers can, therefore, benefit from low transaction fees, unlike when they have to use fiat exchange platforms to convert their cryptos to fiat. Currently, plans are under-way to accept more cryptocurrencies in the near future, further broadening their scope of reach.”
Over and above cryptocurrency payment offer a better and more efficient way of making payments. With low transaction fees, increased transaction speed, peer to peer exchange, incentive rewarding an enhanced security, cryptocurrency payments are the way of the future. The repercussions for AlfaEgo bold step to take the lead in this space remains to be seen. But so far the evidence from market analysis of retailers that have adopted cryptocurrency payments successfully shows that the odds are largely tilted on AlfaEgo’s favor.
AlfaEgo.com a subsidiary of Nannonet LLC, is an online retailer based in Burlington, New Jersey that sells premium 100% genuine leather bags, shoes, belts and wallets exclusively for Men at low prices globally in international fiat currency as well as cryptocurrencies.