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The New World of Ecommerce: Dropshipping with Cryptocurrency

Starting a dropshipping business in this new decade has been an amazing opportunity with alow-risk business model that is followed by an uncapped ceiling. Due to the effects of the pandemic, consumers have dramatically shifted their purchasing behavior, preferring online ecommerce over in-store brick and mortar stores. A new wave of shoppers that are now just experiencing the ease and convenience of shopping online has caused the demand for eCommerce to skyrocket. Dropshipping is a convenient and easy way to get into the eCommerce boom without the high risks associated with running a traditional storefront and
investing in inventory that may have a slow turnaround.

What is Dropshipping?

Dropshipping is a streamlined business that does not require the seller to keep any inventory on hand. Instead, purchases are made directly from a third party seller, like a manufacturer or wholesaler, only when the seller makes a sale. This significantly reduces overhead costs associated with inventory upkeep and expenses, which creates great profit margins for the retailer.

Dropshipping is excellent for new entrepreneurs that have a great understanding of a niche market. This method of sales grants them the flexibility to test out their marketing vision with bundle packages, subscription models, profit sharing with influencers, and more.

You won’t even need to dedicate time towards packaging or logistics for your shipping and handling operations since a third party will take care of that for you. Your main goal will be to connect the supplier with the consumer as a middleman. It is a win-win situation for all parties involved as long as you are able to create a successful selling channel. Once established, great customer service will go a long way and help you retain life-long customers.

Modern Day eCommerce

Hot in-demand products with a sizable profit margin will generate fast cash flow, which can help you build a strong consumer base. In the past couple of years, many dropshippers have found success dropshipping from China by utilizing AliExpress and connecting manufacturers from China with consumers in the United States, Canada, Australia, and more.

Shopify has also made it accessible to everyone by facilitating an easy and seamless listing system with popular Shopify apps such as Oberlo and Spocket. However, dropshipping from China may pose challenges such as quality control and issues related to delivery time. In this new decade, we are seeing a shift in dropshipping channels created through home-grown vendors with products that have already cleared overseas customs and are ready to be shipped domestically.

The new wave of online consumers that are just now getting into eCommerce do not place too much emphasis on discounted coupons and cashback offers in driving their purchasing habits.The main focus now is to get their order placed before the product gets sold out. Demand has surged and dropshippers are now even finding success creating storefronts and brands from catalogs from major vendors such as Amazon. Walmart products are even being listed on eBay through dropshipping. Every channel has new waves of customers and the more listings there are, the greater the reach.

Blockchain, the Future of eCommerce and Digital Payments

Blockchain Bank makes this process easy as we are experts in the eCommerce space and leaders in cryptocurrency eCommerce. Through our partnership with Shopping Cart Elite, we have adopted an eCommerce backend that is comparable to Shopify’s, but with greater ease of access when it comes to cryptocurrency integration and SEO optimization.

Targeting the Bitcoin Rich

With Bitcoin skyrocketing over 450% since the pandemic market crash, from just under $4,000 to now over $18,000, the buying power of the cryptocurrency community that bought the dip has just increased more than fourfold. Through Shopping Cart Elite, Blockchain Bank is well-positioned to target those consumers that are Bitcoin rich and in need of viable channels to splurge on their crypto.

Imagine your potential customer who purchased one Bitcoin at $4,000 in March and within less than a year, went up significantly with their investment. Given that Bitcoin is now being traded at over $18,000 as of early December, this particular investor just earned over $14,000 in expendable income with just one single Bitcoin. If this was 2017, Bitcoin would need to be sold for fiat in order to purchase goods. However, Blockchain Bank in 2020 has made it convenient for Bitcoin holders to purchase tangible goods with options such as eBay Gift Cards available for purchase directly via crypto.

If you were to launch a eBay dropshipping storefront,an investor who has gained through Bitcoin’s rise will have more purchasing power to shop at your store given that they were able to obtain eBay Gift Cards with their Bitcoin. Shopping Cart Elite can also take it to the next level and create an entire dropshipping website denominated in Bitcoin so that you can target the Bitcoin community.

Instead of focusing on a specific niche market like fitness equipment, you can try a new strategy by specifying your audience base. With this method, a custom dropshipping website can be created so Bitcoin holders can easily shop from your storefront and pay with Bitcoin.They won’t need to sell their Bitcoin and report taxes on their gains, but instead, use Bitcoin as tender. Once Bitcoin is received, there will be an automatic fiat conversion to purchase the product directly from the manufacturer so that it can be dropshipped to your buyer, while your profits can stay in Bitcoin or get converted into fiat.

Generating High Profits With Low Risk

By integrating Blockchain Bank with your dropshipping operation, your profits can generate higher returns. We even have a gift card backend built for you to reinvest into your business by purchasing Amazon gift cards.

If you are dropshipping items from Amazon, you can use that balance to credit your supplier account. Check out https://www.bcdbazaar.com/ as an example of a crypto denominated storefront using the Amazon catalog as the dropshipping source. For more information on starting your dropshipping website, feel free to contact us via the link below: