AliExpress is one of the biggest e-commerce platforms worldwide. It deals directly with manufacturers from China who sell their products at a minimal cost. This attracted many wholesalers and retailers over the years.
It is owned by Alibaba and provides services for smaller retailers who will not stock their stores. It is, therefore, suitable for the purchase of low-cost products directly from China and helps wholesalers and dropshippers to save more money.
It is also a reliable place to buy quality products.
Because of its worldwide status, it accepts a wide range of currencies for payments. However, it doesn’t accept direct crypto payments. Does that mean that there’s absolutely no way to purchase items on this retailing giant with crypto? That is what this article will treat. Follow me as I put you through.
NO DIRECT WAYS TO USE BITCOIN OR OTHER CRYPTOCURRENCIES ON ALIEXPRESS AND ALIBABA
Cryptocurrencies are becoming more popular in the finance world today. They make international payments much easier. They also bring a level of security to payments and come with an irreversible feature that will definitely appeal to retailers. The transaction fees are also cheap, cheaper than traditional banks.
AliExpress, on the other hand, does not accept Bitcoin or any other cryptocurrency as means of payment. However, when the cryptocurrencies are converted into fiat, they can be used as means of payment. This means that Bitcoin or any other cryptocurrency can be used indirectly as means for payment on AliExpress and Alibaba.
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Two Ways To Use Cryptocurrency When Paying On AliExpress Or Alibaba
Crypto Debit Cards
Debit Cards are known to make payments easy. It allows payment processing companies to connect with an account. One popular crypto debit card is Uphold card. Binance, Coinbase, Embily, and Nexo cards are among the others.
Crypto debit cards also work the same way. Cryptocurrency payment processing companies can easily connect with crypto wallets, making transactions very easy.
The difference between a crypto debit card and a traditional debit card is that crypto debit cards have the ability to convert coins into the Fiat currency needed automatically.
The crypto debit card can either be physical or virtual.
How crypto debit cards work?
After funding a crypto debit card, the processing company helps convert the digital coins to the required fiat currency at the point of purchasing products.
This enables it to be a means of acceptable payment on AliExpress or Alibaba.
BTC can be exchanged for gift cards and can be redeemed as cash.
This makes it acceptable as a means of payment on AliExpress.
How Gift card work?
The buyer chooses a product and the desired discount. This order goes into the order book, the earner views and fulfills the order. In doing that, the earner receives Bitcoin while the online shopper receives an Alibaba gift card.
Using gift cards online is very easy if it is the store’s gift card. The gift card can either be in plastic or electronic form,
AliExpress offers gift cards; it also gives discounts when shopping for gift cards during big sales. You can exchange crypto for gift cards on Kucoin P2P, ByBit P2P or Binance P2P.
Although cryptocurrency, especially Bitcoin, has gained more popularity and attention of the majority in recent times and many business holders are using it as a means for payment.
It has not been a stable medium for payment because of its volatility. Hence, big businesses such as Alibaba and AliExpress have not adopted it as a means of payment.
This may yet change in the future, but for now, the only way to use crypto to purchase items on the AliExpress platform is to first convert it to fiat, either using a crypto debit card or a gift card.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com