A few decades ago, if someone said that there will come a time where people can buy items from the comfort of their home, with a currency that has no physical form, they would have been laughed at.
Today, we have exactly that with the development of the e-commerce industry and the ability to use cryptocurrencies to purchase goods and services.
From the devout belief that “cash is king” to the innovation of cryptocurrencies and e-commerce platforms — the way we spend our money is evolving.
Cryptocurrencies and e-commerce platforms have been met with major distrust over recent years. While this could be chalked down to a lack of understanding, among other things, the COVID-19 pandemic has converted some non-believers and borderline forced people to make peace with online shopping.
Whether you embrace the new age of purchasing goods and services or not, online shopping is undeniably more convenient, stress-free, and slightly more dangerous for our wallets. While impulse buying may be less than what it would be in a physical store, the convenience of it is both a blessing and a curse to a budget.
Exeno: A global e-commerce pioneer
Exeno is an online store that ships products worldwide. From electronics and fashion to home and garden, among many other categories, Exeno is catering to the various needs of its global customer base.
What sets Exeno apart from other e-commerce platforms is the fact that it is pioneering a shift in the way people purchase products online. Shoppers are able to pay in real-time for selected products in various cryptocurrencies with no fiat conversions. These include bitcoin (BTC), ethereum (ETH), and bitcoin vault (BTCV).
Exeno has removed the inconvenient process of exchanging cryptocurrency to fiat. Shoppers are able to go about their usual routine but with a whole new payment process.
Blockchain technology allows cryptocurrency payments to be made within a few minutes. With fiat currency, the transaction time can vary, especially with international transfers. Cryptocurrency payments aren’t affected by location or timezone. Decentralized data storage means cryptocurrency payments are extremely secure and do not face being blocked by a bank or government. Additionally, there is no chance of accidentally transferring cryptocurrency to the wrong institution.
Exeno has partnered with Kanga Exchange, a platform that is accessible to investors, creators, brokers, and anyone else active in the cryptocurrency market. The core focus of this project is to deliver a transaction processing method for currencies other than traditional fiat currency. Kanga Exchange is a crypto-asset exchange that is suited for project tokens, real estate, and personal tokens.
Exeno also has established reltionships with major global suppliers and representatives of industry-leading brands, including Samsung, Apple, Huawei, JBL, Mi, OPPO, and more.
When it comes to online shopping, the most important thing people worry about is security.
Exeno ensures the payment experience is incredibly secure. When signing up or registering to the store, private and secure wallets for BTC, ETH, and BTCV deposits and withdrawals are assigned to the account. Once a balance has been topped up, cryptocurrency can then be used to pay immediately for products. The balance top-up can amount to any number, according to Exeno.
The registration process is also simple and easy to navigate and no additional know your customer (KYC) procedure is required. To register, however, shoppers need to have the Google Authenticator app to use their phone to scan a QR code within the registration form. The form is completed by entering the code generated in the application.
Exeno offers a variety of account security features starting with SSL, through two-factor authentication, and various notification settings. Exeno assures that security options are regularly updated and those in place already, are regularly improved on.
Customers are also able to withdraw funds from their wallet at any time. This can then be sent to any address given by the customer.
Exeno is catering to a demand in the e-commerce space that may be the normal way to process online payments in the not-so-distant future.
The payment process
Shoppers on Exeno will incur a transaction fee of 1.8% per shopping cart. In partnership with Kanga Exchange, Exeno has developed a solution that allows customers to settle or pay for their products via cryptocurrency transactions in real-time.
Customers are essentially able to check the balance of their funds, purchase products, and withdraw from their store wallet. The price of a product depends on the current cryptocurrency exchange rate of BTC, ETH, and BTCV at that particular moment.
However, when a purchase is made, the immediacy of the payment solution means a person will never incur an unexpected additional cost. The payment process is entirely transparent and seamless and does not request any unnecessary steps or inputs from the buyer, Exeno explains.
Price of goods on the website:
- Are given in the cryptocurrencies compatible with Exeno (BTC, ETH, BTCV)
- Are inclusive of VAT where applicable at the legally binding rate
- Are inclusive of the payment operator’s fee which is an additional 1.8% already added to each purchase operation for the coin transaction. This charge is non-refundable and made directly to the payment operator for facilitating the coin transaction.
From Europe, to the world
Based in Poland, Exeno ships worldwide with its partnered shipping companies. These include TNT, FedEx, and DPD.
Customers are always in the loop with regards to their order, the tracking number, and its shipping date. Once an order has been accepted and processed, the turnaround time for an item to be shipped is up to 72 hours.
The only limit here, for security reasons, is that a single purchase cannot exceed $10,000.
Cryptocurerncies, e-commerce and the future
Over time, the scope of cryptocurrencies has increased exponentially. This is especially true for Exeno and the ability to purchase items using three cryptocurrencies.
In the future, we may see the complete removal of traditional currencies as a payment method for online shopping. As the cryptocurrency industry continues to change and evolve, it’s only natural that the way we transact will too.
The only constant with the crypto world is that it is permanently changing. The way individuals hold funds is evolving at an exponential rate.
Things to know about the Exeno
Unlike most online stores, you cannot return an item unless it is defective. Refunds will not be given on an item that has been bought using cryptocurrency. No refunds will be given if a purchase is canceled or withdrawn. Compensation for damaged products will also not be given. Exeno explains that this is due to the fact that product prices depend on the exchange rate fluctuation in the financial market. This is obviously something Exeno has no control over. Products that are returned to Exeno will be exchanged for a new item. This process needs to be done through customer support.
Products come directly from the manufacturers and official distribution networks. It is of the utmost importance to check the product specification meticulously before making a purchase. Exeno advises shoppers to make thoughtful purchasing decisions to take full advantage of the online store’s potential.
Below are the two scenarios that an item can be returned:
- If a courier company delivered a damaged package: open the package in the presence of the courier and check the contents carefully. If the content is damaged, fill in the damage protocol in the presence of the courier on the official shipping company delivering the order letterhead and take the original report with you (describe the fault/damage in detail in the protocol). In the next step, log into your Exeno.com profile and contact our Customer Support. Their consultants will determine the return procedure with you and send you the necessary documents.
- If the device ordered does not work: log into your Exeno.com profile and contact our Customer Support. Our consultants will set the procedure for replacing the device with a new one with you, and send you the necessary documents.
Setting a new precedent
What Exeno has done, by allowing people to purchase certain items using cryptocurrencies, is set an entirely new standard for the e-commerce industry.
People want to have options, they want to be able to pick and choose their payment methods. With EFTs and direct bank payments, e-wallets, and so on, we were given options. Now, the demand for the type of currency we pay in needs to be more than just fiat currencies.
Creating this payment option, with a transaction fee of 1.8%, means Exeno is catering to an evolving audience. They have recognized a gap in the market and have filled it.
As people continue to change, the natural progression of our behaviors on a wide scale, will too. The ingenuity of this payment option is something other e-commerce platforms may consider adopting in the future.
With all revolutionary technological developments, though, it takes time for people to adapt to change. Hopefully, there will not be as much pushback as there has been historically from people who are unfamiliar with the crypto industry.
For more information please visit Exeno.com.
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.