Qoin, Australia’s latest offering in the digital currency space, has seen a high adoption in its first few months
With the looming recession which is forecast by the majority of economists, Australia’s small business owners are also looking at the future customers and income and are turning to alternate currencies in numbers. “Today, more businesses and financial institutions are steadily beginning to adapt, adopt and become adept at cryptocurrency transactions. Among those are smaller businesses that have begun to include digital currencies as a payment option for customers,” says Melody Yuan, East West Bank.
Qoin, Australia’s latest offering in the digital currency space, has seen a high adoption in its first few months with business’ looking for additional ways to generate new customers and earn an additional income source to cash, which has the potential to grow over time.
Andrew Barker, Chief Marketing Officer for Qoin, says, “Qoin is uniquely different to the traditional Crypto in that it is a growing community where buyers and sellers transact using the digital currency Qoin, for everyday goods and services. We have already seen close to 3,000 merchants join the Qoin community over the past few months, all looking to try a different way of generating customers, income and possibly some future financial security.”
He estimates that Qoin will go live on an exchange later in 2020, giving the opportunity to those merchants currently earning Qoin, to sell their holding in exchange for fiat currency, provided there are willing buyers.
With a zero cost entry and transaction point, Qoin is proving to be of interest in a world where nothing is normal anymore. “Speaking with hundreds of small business owners every day, our team is seeing that fine line between their focus on staying afloat and their desire to adapt and open a new chapter for their business into the future,” says Barker.
“I admire and respect all of our business owners during this time and the tenacity they are showing and hope we can open the minds and opportunities for them into the future.”