What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
It's very much possible you can do it, there are people who have lunched certain products to use and promote certain coin but they don't make that coin the sole method of payment because if such is done , not all customers will be comfortable using such payment method, they may result to other options if they happen to find it difficult using that payment method or if they find it not comfortable enough, so it will be better you make option for other payment method but paying with the coin you hope to promote comes with certain discount rates, that way it will attract the attention of others to want to try out the new coin so they could get a discounted rate but solely making that coin as the only means of payment may not be effective enough as it will not be friendly to those who aren't crypto enthusiast thereby reducing the customer base versatility. 
Topic: Brand completely associated with crypto (Read 396 times)
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
That would be a fantastic idea, at least it will bring the payment methods of cryptocurrency into the cosmetic world, though I believe some cosmetic agents must also have their payment platform that have brought in cryptocurrency, but if you are having this inborn idea within you to launch yours, I will advise you give it to trial. You can make use of any altcoin of your choice that you feel is reliable, as long as it makes the idea come into fruition.
Creating a cosmetic brand tied to crypto has the potential to generate interest and promote cryptocurrency adoption. By exclusively accepting specific altcoins for product purchases, you'd incentivize people to engage with crypto. This innovative approach can broaden the utility and awareness of cryptocurrencies beyond financial transactions, helping the crypto ecosystem grow. While challenges exist, the fusion of cosmetics and crypto offers an exciting avenue for crypto enthusiasts and newcomers to explore the technology further.
Certain alt coin? Do you know who will be your clients? What if they only had x type of altcoin but you only accept y type of altcoin, will they not be offered services? Do they have to convert first?
If you plan to use bitcoin well i say there’s a huge chance that a lot of your customers can avail your services with it but if it’s an altcoin how are you sure that your targeted audience have that altcoin or are even aware of it? Also, cosmetic brand…. think again who mainly use cosmetics and who mostly are users of cryptocurrency and think if they align
If you plan to use bitcoin well i say there’s a huge chance that a lot of your customers can avail your services with it but if it’s an altcoin how are you sure that your targeted audience have that altcoin or are even aware of it? Also, cosmetic brand…. think again who mainly use cosmetics and who mostly are users of cryptocurrency and think if they align
I disagree, this is a bad idea, how many people around the world have adopted at least one cryptocurrency? No one knows the number but this is probably less than 5%, and of those people how many people will hold the altcoin the OP wants to use as an exclusive payment option for their cosmetics and have a need for their product? Without a doubt an amount even lower than that, so when given the option any potential client which may be interested on buying their products will go somewhere else as they are not going to adopt an altcoin just to purchase something they need.
I agree with your statement. If someone sells some unique product that is not available elsewhere, then the customers will be forced to adopt that altcoin to buy that product. Or if it's an online website based business and the business owner can deliver their product to their customer, they may still get some customers.
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
op You want to understand that if a customer wants to buy any of your products, he must pay through altcoins for that reason. Is it even possible? I think our country is still not updated enough that we will use altcoins to transact anything. If we can use our money by investing through altcoins. 
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
That would be a fantastic idea, at least it will bring the payment methods of cryptocurrency into the cosmetic world, though I believe some cosmetic agents must also have their payment platform that have brought in cryptocurrency, but if you are having this inborn idea within you to launch yours, I will advise you give it to trial. You can make use of any altcoin of your choice that you feel is reliable, as long as it makes the idea come into fruition.
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
That would be a fantastic idea, at least it will bring the payment methods of cryptocurrency into the cosmetic world, though I believe some cosmetic agents must also have their payment platform that have brought in cryptocurrency, but if you are having this inborn idea within you to launch yours, I will advise you give it to trial. You can make use of any altcoin of your choice that you feel is reliable, as long as it makes the idea come into fruition.
Your product will not be that popular if you are thinking about only accepting crypto for your product payments as the crypto community that wants to use their crypto to buy goods is small and they are all over the globe. If you are thinking that this will popularize your brand you are totally wrong. Top online marketplaces already accept some crypto assets along with fiat currencies. You can do something similar to give your customers a better experience but using crypto as a bait to attract more consumers to your brand won't work really well.
Cryptocurrency is actually only optional or another payment option that customers can choose.Of course, payment by fiat is the main payment. Crypto payments on products sold are just bait to attract those interested in crypto to buy and try transactions.
But this also depends on government regulations regarding transactions carried out with crypto. If it is illegal then don't even try to adopt it, it will only be a problem.
Your task as a business owner is to create convenient payment methods that would be available to every customer, and not create a problem for him
If his business is about payment methods, yes but he said his business is about cosmetic products.So what did you see as a contradiction? I am a buyer and I want to buy cosmetic products, but the owner tells me that I have to pay for the purchase only in LTC. But I don't know anything about crypto and it's very difficult for me to figure out how and where I should buy LTC to make a purchase payment. And as a result, I will buy from another seller who has traditional payment methods.
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
That would be a fantastic idea, at least it will bring the payment methods of cryptocurrency into the cosmetic world, though I believe some cosmetic agents must also have their payment platform that have brought in cryptocurrency, but if you are having this inborn idea within you to launch yours, I will advise you give it to trial. You can make use of any altcoin of your choice that you feel is reliable, as long as it makes the idea come into fruition.
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
You can associated any altcoins at you desire, in fact, it was an alternative payment option but of course, choose the right altcoins for your project as this also impacts your product's demand. Some merchants are also using this strategy but they often accept known coins like BTC and ETH which I think it was a good choice rather than choosing unpopular coins. Apparently, there is no problem provided that you can manage it well. It is just adopting cryptocurrency but you can't expect a fast response from the community.
Honestly, this is not the right time to do this thing because you might find it hard for other customers to buy your product because they might have no knowledge of crypto or they don't have a crypto wallet yet. This will only be possible if you are in El Salvador which is one of the countries that makes bitcoin legal tender and you can start from there and introduce your platform to them. Also, if you are planning to make it online, then that is better because there are already online stores like that and you can look at their approach on how to sell their products to their customers.
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
Choosing an altcoin is easy to understand, but it should be a reliable altcoin, such as USDT or trons, so that transactions remain quicker and safer. Interfering with our business with cryptocurrency projects, I must warn that not all clients would want to go through a lot of stress only to pay for services when they can simply reimburse funds with their debit cards. Though, don't get me wrong, it's a very welcome idea that will also accelerates one's brand to greater heights. Crypto is general, and clients all over the world who understand how to use crypto to pay for services will find it an extremely straightforward means of payment. Profitability of a cosmetic brand is determined by the advertising and packaging choices adopted. Launching a cosmetic brand is quite a great achievement. 
I think that you will lose a large number of potential buyers of your products. . Thus, you can use the sale of your products for altcoins as an additional payment method, and not as the main one.
Depends on what altcoin he is talkin about. If it's a foreign one then yes but if it's a popular one, not really. Also it depends on the quality of his product. If it's superb, people will always try their best no matter how difficult it is, only to get it.I still like your suggestion there of using only the alts as additional, so that he can maximize his sale or customer reach, as we believed that some people still prefer the traditional payment methods such as fiat, bank cards, and the likes. It might take some time before all of us transition to the cryptos and other digital forms of payment methods.
Your task as a business owner is to create convenient payment methods that would be available to every customer, and not create a problem for him
If his business is about payment methods, yes but he said his business is about cosmetic products. 
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
So, you will first market your products to people and then teach them how they can use the 'certain' altcoin to buy the products from you. Don't you think that will be a lot of work and people who aren't already interested in crypto will barely show any interest in your brand and choose a brand that is easier to buy compared to yours? Sorry to say, but I don't think that it's a good idea, especially, because of the situation of the adoption we are in right now which isn't that high.Such a project or company can only work or run very well if Bitcoin and cryptocurrencies are adopted and accepted all over the world so that you can market your brand all around and people wouldn't have a hard time understanding the process of first acquiring the altcoin and then buying your products with it.
If companies care about convincing people to buy their products, invest millions in advertising, and try to develop advertising methods and improve the price to reach the consumer, then let alone what they offer will add additional difficulty, as the user needs to buy altcoin and use it to pay for your service, and nothing will benefit from it. You are destroying your company, nothing more, and even companies like Microsoft and Apple, if you take such a step, may not achieve success.
What if I launch a cosmetic brand completely associated with crypto in some way. Like , the purchase of cosmetic products of my company being available only with certain alt coin.
That's one way to start a business but it is available for purchase only using that specific altcoin can be a pain in the ass and might scare away a lot of customers imo. Even with the option of being able to buy that specific altcoin in the shop, most people have shortened attention spans right now so they'd most probably shy away from buying said products still. In addition, it's a completely new brand, so you can't expect a loyal follower base that can help the business stay afloat until the coin gets more notice from others.
Other than that issue I reckon it's pretty good. The same issues from regular businesses would naturally crop up but that's part of the process.
Should only one currency be used for purchases? This could accidentally limit the number of customers you have, which would limit your market reach. Take some time to think about how easy it is to get the chosen currency and how many people are already using it. Even though its new, a crypto-based transaction system should be easy to use and handy.
Your new way of doing things, on the other hand, might create a niche market of crypto fans who like how exclusive it is. Its very important to find the right mix between small-market appeal and wide appeal. Would the appeal of rarity make up for the fact that customers might be fewer? Finding the thin line that balances rarity with wide reach is the most important thing that needs to be done.
Your new way of doing things, on the other hand, might create a niche market of crypto fans who like how exclusive it is. Its very important to find the right mix between small-market appeal and wide appeal. Would the appeal of rarity make up for the fact that customers might be fewer? Finding the thin line that balances rarity with wide reach is the most important thing that needs to be done.
A lot of them are men, that doesn't mean that women are not into crypto. Cosmetic doesn't mean that it is associated with only female. Male cosmetics are also available in the market and OP would be selling both as most cosmetics website do.
Good point, and then there are mustache wax and hair products etc. I wouldn't ridicule this idea even though i don't know anything about cosmetics and the competition in that sector. I can't recollect all the things people wanted to sell for crypto, but i am sure that has contained nearly everything already. Shops just sometimes don't make profit, no matter what the currency is.Also i am hoping that OP knows the crypto taxation of his country because buying and selling products with crypto can be tricky. Which is the reason most people use 3rd party converters.
Jump to: