No, it’s not the time yet. Sure, cryptocurrency seems like a fantasy money-making dream now, but e-commerce wholesale businesses are not prepared to handle its volatility. Simply put: you can lose money more times than you can win because it isn’t a stable market yet. Let’s take bitcoin, for example, the most common type of cryptocurrency known so far. In between 2017-2019, the value price has skyrocketed to the upper limit of $22K, but only for a few days, after going downwards and reaching $4K in 2019. So you see, this financial solution is quite troublesome now, because it hasn’t got a stable rate that business owners can depend upon.
System Security for your E-Commerce Wholesale Business
The idea of introducing cryptocurrency as a financial solution for a wholesale e-commerce platform is a brilliant one when it comes to security. As you might know, the system that gave birth to crypto coins is the blockchain. Not going into too many technicalities, this is a system that has proven to be highly secure when it comes to data holding, transfers, and transactions. Modern banks use blockchain technologies today for their internal way of working and the results have proven the systems very secure and efficient.
So, even though the system’s security is air-tight and information travels very fast, it’s not the cryptocurrencies that can help your e-commerce wholesale platform, but rather the blockchain system.
Better Logistic Management in E-Commerce Wholesale
One of the greatest things that blockchain brings to the table is de decentralized management system that is the foundation of the entire technology. This means that the system will be a decentralized environment and each piece of the product flow from purchasing to delivery can easily be monitored independently and adjusted without having to influence the entire wheels of the system.
Don’t let the technicalities scare you into considering blockchain as a viable option for your wholesale e-commerce business. The future and its solution aren’t always easy to understand at first, but once you dive into it, you will discover that if you make the switch to such a system, you will score big in many areas: efficiency, the security of information and data, information tracking for both orders and delivery.
Shape the future of your company with efficiency and digital solutions. One starting point can be efficient wholesale management with a single command station, as Order Circle. Learn more here: https://ordercircle.com/features/order-management/