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Bitcoin

Panties.com promotes bitcoin-payments in its Valentine’s Day offer

February 7, 2019, 10:14AM EDT

This Valentine’s Day, lingerie-lovers can celebrate by buying underwear using bitcoin, CoinDesk reports. Panties.com introduced bitcoin payments for lingerie in March 2017, and notes several crypto transactions every month.

Shoppers may be wary of spending their bitcoin on lingerie due to price volatility, but consumers who “show there’s demand” will help crypto go mainstream, according to Rebecca Migirov, CEO of lingerie brand Kala. It also helps support retailers, as crypto payments offer larger gains. For instance, Bitpay charges just 1% in transaction fees, unlike credit card processors which charge over 3% per payment, on top of a $75 monthly fee.

Moreover, the use of blockchain-supporting platforms could be a great alternative to current censorship problems independent companies face. Currently, many cannot run successful campaigns on mainstream platforms due to having their content flagged as “sexual.” However, the lack of “tech-savvy” people in the lingerie industry means slower adoption and the need to rely on cryptocurrency-supporting platforms which still haven’t entered the mainstream.