Tripling in value a confidence boost for small business
Surry Hills online retailers are re-bounding from COVID-19 using digital currency.
Online retailer duo Jim Villamor and Stephane Champagne, who started With Integrity Candles in 2015, are using Qoin (Eds; pronounced ‘coin’) to re-build cashflow after responding to the Australian bushfires and COVID-19.
The pair who sell their range of allergy-free, handcrafted and Australian-made soy candles via their website and Etsy Store decided to pull back on their business in early 2020 in respect to Australian bushfire victims.
When COVID-19 hit, they started delivering free candles to health workers and hard-hit Australians. Now, they feel the time is right to re-ignite their business and they saw Qoin as the “no risk” ideal opportunity to do so.
Mr Villamor says, “Our aim is to be part of an internal network where we can connect with other businesses and build relationships. After hearing about other platforms, we knew there was something special about Qoin.”
Mr Champagne says, “The communication and support we have received is awesome. We feel part of a community. The level of service is outstanding. We’re kept up to date and there is help if we have problems.”
Since joining Qoin, they have seen the value of their Qoin Wallet triple.
Mr Villamor says, “When we came on board, it was 15 cents and now it’s over 50 cents. There’s something psychological in that growth which builds confidence.
“There was no cashflow running through our business during the bushfires. We were stuck and that’s a place we don’t want to be forced to return to. Through Qoin, we’ve found a growing network and an asset increasing in value. We can use Qoin towards our business and reinvest it, as opposed to having to take cash out of our own pockets,” he explains.
Mr Champagne says, “Qoin will assist us in driving more sales and more awareness, as well as the opportunity to do more collaborations and partnerships with like-minded businesses.”
Over the space of just two months, around 3,000 small business merchants, including many in Surry Hills, are now accepting Qoin, the newest digital currency built on blockchain that offers cashless transactions.
And now Surry Hills is being specifically approached following research undertaken by Qoin that shows Surry Hills businesses and merchants are keen to get involved in digital currencies.
Qoin Australia Chief Marketing Officer Andrew Barker says, “We have done our homework in Surry Hills and we have a dedicated team of independent agents that are in contact with Surry Hills businesses.
“The current economic climate off the back of COVID-19 has encouraged many businesspeople to open their eyes to new ways of doing business and that includes digital currency.”
Mr Barker says the time is ripe for digital currencies, like Qoin, as coronavirus has paved the way for small businesses to consider digital currencies to attract new customers and facilitate instore transactions.
“With coronavirus restrictions easing, we’re seeing consumers leaving their homes and heading back to local businesses. The small business merchants taking up Qoin are ready for this groundswell of new and returning customers.”