Now Shop with Bitcoin on Amazon using Lightning Network
A good news for the Bitcoin Hodlers. From now on they can shop with Bitcoin on E-commerce platforms like Amazon via the Lighting Network.
The Moon a Crypto payment processor confirmed today that any of the Lighting enabled wallet can now be used via the Moon’s browser extension.
But to be noticed before the introduction of the lightning wallet roughly around 250 beta users had already used Moon to spend Cryptocurrency on E-commerce platforms.
This is mainly done by connecting the browser extension to various exchange accounts like Coinbase.
To this Ken Kruger (CEO of Moon) said:
“[The extension] will pop up a QR code and it will have the lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason, and you’ll be able to pay with your favourite lightning wallet.”
Amazon itself never touches Bitcoin this is far clear to all of us.
But to this Kruger also declined to specify which traditional institutions are helping them convert the bitcoin to fiat based currency so that Amazon merchant can actually receive fiat based currency for their wares.
While adding to this Kruger estimated that by 2020 this Lighting enabled feature would be working on most of the E-commerce site regardless of their bitcoin acceptance directly.
As we know that there is no direct merchant integration so to clarify Kruger added that Moon also manages payment system and offer a simple interface for sending and receiving payments.
Moon is also looking for an integration with Visa and Mastercard so as to get a cut off in the interchange fees that a merchant has to bear email they receive a credit card transaction.
Looking at the Moons history it was founded in New York in the previous year and grew with just 3 staffs and with just $100,000. Which was invested by the entrepreneur Roundtable Accelerator.
The accelerator’s managing director Murat Aktihanoglu said that they saw a long term potential in the company and will potentially have a large number of opportunities in the coming Five years.
According to a recent update on 22nd of April.
The extension is still under review by the chrome web store and will most probably launch by Wednesday as reported by the Moon.
