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eCommerce and Cryptocurrencies: Real Revolution or Digital Mirage?

Did you think crypto payments were reserved for geeks or speculators? Think again! In 2024, it will become a strategic issue for e-retailers seeking differentiation, internationalization, and reduction of banking fees.


But should you really get started? And if so, with what tools and with what results?


eCommerce and Cryptocurrencies by Blendy international CPA based in France

Cryptocurrencies and eCommerce: The State of Play


Long considered a gimmick, cryptocurrency payments are gradually becoming more commonplace. Bitcoin, Ethereum, USDC… More and more consumers - particularly Generation Z and millennials - want to be able to pay for their purchases with their digital wallets.


By 2023, according to a Deloitte study, nearly 75% of merchants in the United States were planning to accept crypto by 2025. And in Europe, some B2C and B2B e-commerce players are starting to follow suit.


Who already accepts crypto?


Here are some examples of e-retailers who have taken the plunge:


  • Farfetch : luxury platform that experimented with Bitcoin payments via a third-party solution.


  • Shopify : Through its integration with BitPay or Coinbase Commerce, allows merchants to accept cryptocurrencies.


  • Overstock : American pioneer in online sales that has accepted Bitcoin for several years.


Others, like Microsoft or Newegg, allow cryptocurrency purchases on certain digital services or products.



What are the challenges for e-retailers?


  1. Reduced transaction fees : Cryptocurrencies allow you to bypass banking intermediaries, thus reducing commissions (often between 0.5% and 1% compared to 2% to 3% for bank cards).


  2. Access to an international clientele : Ideal for clients located in areas with high currency volatility or poorly served by traditional banking systems.


  3. Enhanced security : Crypto payments are irreversible, limiting the risk of credit card fraud.


  4. Volatility and taxation : On the downside, crypto accounting remains complex: price volatility, unclear tax recognition, record keeping... All these points need to be properly framed.


What tools are available to integrate crypto into your store?


There are several solutions that make it easier to accept cryptocurrency payments:


  • Coinbase Commerce : Easy to integrate solution on Shopify, WooCommerce or PrestaShop.


  • BitPay : Widely used in the US, supports several major cryptocurrencies.


  • NOWPayments : Flexible tool that offers a wide range of cryptocurrencies, with fiat conversion options.


  • Checkout.com : A more traditional player, which is developing crypto options for major brands.



And what about accounting?


This is where things get tricky: cashing out in crypto is good… but accounting properly is better. You need to:


  • Save the value in euros at the time of payment

  • Track any conversions (crypto to fiat)

  • Justify flows in the event of an inspection

  • Integrate all this into your accounting software


This is exactly where Blendy comes in!


Why choose Blendy?


As international CPA based in Paris, France, Blendy has been supporting digital, SaaS and e-commerce companies in structuring their financial flows for over 10 years, in France and internationally.


Blendy team, Paris accounting firm

Our mission? To connect your business tools (Shopify, Coinbase Commerce, etc.), your accounting platform (like Pennylane or QuickBooks) and your business ambitions.


We help you:

  • Implement seamless crypto-fiat payment management

  • Automatically integrate your crypto sales into Pennylane

  • Ensure accounting and tax compliance

  • Better manage your margin and profitability


So, if you're targeting a tech-savvy or international clientele, integrating cryptocurrencies can clearly become a competitive advantage. Provided you're well-supported.


Are you considering integrating cryptocurrencies into your business model?


Make an appointment with Blendy, a digital accounting expert, to set up appropriate, agile financial management that is 100% connected to your reality .









With Blendy, international CPA based in France take advantage of all digital accounting to accelerate your financial process and develop your business.


Pennylane, Dext, QuickBooks and Stripe certified, we support digital, e-Commerce, IT services, SaaS companies in France and internationally .

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