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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Can you Make Money Online Via Drop Shipping For Bitcoin?

Yashu Gola
Yashu Gola
1 year ago
2 mins read

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Online merchants are starting to explore ways to integrate bitcoin into their transactions and business models. Drop shipping companies, which simply takes customer orders in and lets manufacturers and wholesalers take care of the actual transfer of goods, are also opening up to the idea of accepting bitcoin payments.

These companies can offer anything and everything – from fashion items to gadgets – as drop shippers typically have a low cost outlay and focus mainly on marketing the products. Other overhead costs, such as storage and shipping fees are shouldered by the wholesaler. Drop shipping businesses generally profit from the difference between wholesale and retail prices.

Drop Shipping Companies and Bitcoin

With the value of a bitcoin not tied to a particular asset or managed by a central bank, lower transactions fees are also associated with accepting bitcoin payments. This perhaps is the feature that most online companies are drawn to, as this means lower overhead costs compared to accepting payments in debit or credit cards.

Can you Make Money Online Via Drop Shipping For Bitcoin

Drop shipping companies generally make use of a third-party service to facilitate bitcoin payments, such as Bitpay Gateway. These companies generally convert the bitcoin amount to cash for the merchant or the customer.

For instance, Australia-based Shop with Bits offers different types of online payment options, namely PayPal, BitPay, and POLi internet banking. Another example is BitcoinCommodities.com, which sells gold bars or silver coins that are drop shipped in exchange for bitcoin payments.

The unique feature of the bitcoin is its blockchain, which serves as a ledger of transactions for that particular unit. Anonymity and security are generally associated with this feature, as the latest transaction is updated to the bitcoin blockchain.

Larger drop shipping companies have yet to integrate this mode of payment as part of their usual transaction options.

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Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

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Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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