How a Crypto-Focused Shop With 35,000 Items Made BTC Payments Faster

A platform that claims to offer the world’s biggest digital shop for crypto users has announced that it now supports Bitcoin’s Lightning Network.

Uquid notes this additional blockchain layer helps to speed up transactions while making them cheaper, eliminating two of the main drawbacks of using BTC directly.

The shop boasts 35,000+ digital products, with new items added on a daily basis. According to the team, discounts of up to 60% are available on its range.

“At the Uquid digital shop, we’re very excited about the Lightning Network. We believe this technology is the next step for future payment systems,” a spokesperson added.

The platform is using a Lightning Network node that belongs to OMGFIN, a digital asset exchange that says it “has been supporting the Bitcoin industry since the early days.”

Beyond Lightning Network support, Uquid emphasizes that its goal is to offer plenty of choices and to make the shopping process faster by accepting a plethora of cryptocurrencies. Coins such as XRP, Gas, NEO, Tether and the Uquid Coin are also supported.

What can you buy?

Just some of the items available include games across some of the world’s best-known platforms, including Microsoft’s Xbox and Sony’s PlayStation. Crypto can also be used to snap up gift cards and vouchers for software, cell phone credit and popular retailers. Moreover, it’s possible to pay for TV bundles and electricity bills, life insurance, access to the internet, and transportation — the last one courtesy of Uber in the United States. According to the company, brand-new categories are going to be added to the site in the not-too-distant future — spanning health and beauty, food and groceries, and clothing and shoes.

Said Tran Hung, the founder and CEO of Uquid, explained: “The Uquid shop is an important piece of our ecosystem that is bringing crypto closer to the real world of services and products. We are and will continue to try harder to achieve this goal.”

Diversification

Uquid has come a long way since its launch in 2016. The company describes itself as one of the earliest cross-border digital service providers with a blockchain-friendly payment system. A priority for the team has been to build the ecosystem organically while continually making improvements that ensure it is safe and secure for its customers.

This year has been a major milestone for Uquid, as it began offering business-to-business solutions including crypto payments, blockchain development, social marketing and exchange platform development.

The company has long been at the forefront of innovation. Back in 2016, Uquid launched a virtual Visa debit card that can be topped up with more than 90 different cryptocurrencies. Ether, XRP, Litecoin, Monero and Dogecoin were among the altcoins that were supported at launch.

Enabling shoppers to use their crypto to make everyday purchases has been a much-needed milestone for the industry. It offers an incentive for consumers who have only ever relied on fiat to give digital assets a go for the very first time. In time, this could help contribute to the mainstream adoption of Bitcoin, Ether and other altcoins — and help the industry gain the recognition it deserves.

The team behind Uquid’s shop adds that it is helping this ambition to become a reality by offering an “extensive product range that few e-commerce retailers can match.”