Moon, a startup by three individuals, acts as a platform to pay for the goods on Amazon using BTC, this will be done through the Lightning Network, bitcoin,litecoin or ether.
The new payment system is not yet embraced by all, while some e-commerce giants accept it, others rejected it on account of the fluctuating nature of digital currencies.
How does moon work?
The procedure is quite simple. once you log into your amazon account, the application automatically recognizes you and gives options of paying with crypto funds. Précised information about the amount going to be paid via cryptocurrency is displayed before the actual transaction. The most interesting advantage is that the moon does not charge a penny to the users of service. It uses the prepaid value on Amazon so that while paying for the goods, the service ‘’automatically converts your cryptocurrencies, tops up your Amazon account and pays with your amazon balance.’’
Payment by 2 different ways-
- Payment can be made via any bitcoin wallet working through the lightning network. The lightning network is much faster than the normal transactions performed by bitcoin blockchains.
- Via crypto balance on your coin base account- a person holding bitcoin, litecoin, ether etc on the coinbase account can pay in a couple of seconds by leveraging Coinbase’s API.
Amazon unification with BTC is concrete evidence of the expansion of crypto culture in every latest platform. For now, Moon service is available to the users in the US and Canada but in the time coming it is likely to meet customers in Europe enabling them to make the best use of the browser extension. For now, it is not able to create a spark in the whole e-commerce industry, and not many firms are giving it a positive response. However, it is a great achievement for crypto that it has unified with Amazon via Moon, for the transactions are surely going to be an attention puller, thanks to Amazon with more than100 million users globally.