Best Cryptocurrency News – Crypto World overrated: Market raised by 11 percent. The post first appeared on CCN News about the Overstock Sees $120,000/Week in Crypto Currency Revenue as Stock Surges 11%.
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According to Report-An American based executive of the board of directors of Overstock further, Jonathan Johnson emphasized that on Overstock that the $1 billion online retailers based in the US have stated that CryptoCurrency is a much better payment method than credit cards for merchants.
Overstock sees $120,000 a week in Crypto Revenue
Overstock sees the move a risk management issue. The company has 40 employees in its fraud department investigating canceled payments and other risks associated with credit cards.
The retailer Overstock started taking CryptoCurrency. The popular company announced they see $120,000/week in Crypto Currency purchases. Their stock surged more than 11 percent since they began taking it.
The announcement came about the buyer protection and the centralized aspect of credit card networks, it is possible for buyers to request refunds and cancellation of payments through third party service providers. Unforeseen payment errors can create legal problems and complicated issues that need to be addressed by both the company and the credit card network operator.
Crypto Currency market has changed the way retail investors
The optimistic development in Overstock’s Cryptocurrency- Cryptocurrencies are much easier way of doing the Business.
According to Jonathan Johnson- Skeptics has Bitcoin and Crypto world has no value is wrong. Bitcoin’s price has been on a wild ride since its inception. 2017 alone saw massive gains, starting the year at under $1,000 and, at its peak, breaking $19,000.
Even though investors expressed their skepticism towards the integration of Crypto Currencies by these leading platforms and the relevance of it in terms of its percentage over the total revenues of these companies.
In an address to the Heritage Foundation, a think tank in Washington, D.C., Johnson revealed that Overstock has Between $68,000-$120,000 in weekly CryptoCurrency revenues. Its weekly revenues from Crypto Currencies likely vary every week due to the volatility of the market and the tendency of digital assets to increase and decline in value by large margins in the short-term.