Survey of Customer Comfort With Amazon-Branded Products Includes Crypto

Published at: Feb. 6, 2019

Shoppers of e-commerce giant Amazon would like to be able to purchase a wider variety of products, including cryptocurrency, according to a recent report published by a financial portal Investing.com.

In the course of the survey, Investing.com reportedly surveyed over 1,000 Amazon shoppers in order to discover ordering frequency and the trust level customers have in the company. Notably, the survey polled customers on what products they are comfortable buying under an Amazon brand.

When asked what kind of products they feel comfortable buying under the Amazon brand, 12.7 percent of the respondents named cryptocurrencies. Other hypothetical Amazon-branded products included medical marijuana (13.5 percent), prescription drugs (9.3 percent), computers (72.9 percent), coupons and deals (10.6 percent) and even healthcare (15.3 percent). Shoppers were allowed to pick more than one option.

The survey also revealed that nearly one in three respondents made a monthly purchase on Amazon, while 43 percent of the survey participants said they would no longer shop at malls. In regard to age, Baby Boomers responded they spend about $102.14 on Amazon each month, Generation X-ers said they spend around $118.78, and Millennials spend about $123.49.

This week, the CEO of top crypto exchange Binance, Changpeng Zhao, claimed that Amazon cannot avoid issuing its own altcoin. “For any internet (non-physical) based business, I don't understand why anyone would not accept crypto for payments. It is easier, faster and cheaper to integration than traditional payment gateways. Less paperwork. And reaches more diverse demographic and geography,” said Zhao.

In November 2018, Amazon announced its two new blockchain-related services, Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain. While QLDB is a ledger database designed to provide transparent, immutable, and cryptographically verifiable log of transactions, which is overseen by a central trusted authority, Managed Blockchain product is designed to operate with QLDB, allowing users to adjust and manage a scalable blockchain network.

Tags
Altcoin
Cryptocurrencies
Amazon
Related Posts
Q&A: Conquering the kingdom of crypto e-commerce
Shopping using cryptocurrencies is a hot-button topic right now — but how do you find the keys to the kingdom of crypto e-commerce? Here, Cointelegraph talks to Shopping.io CEO Arbel Arif about his vision for the future, the milestones that have been achieved since the platform launched six months ago, and the high-profile partnerships that have been instrumental for the site’s success. 1. Hello! Can you describe Shopping.io in a nutshell? Shopping.io is the bridge between crypto and retail. We are the leading provider of mainstream e-commerce solutions in crypto. We are the only company that offers you the ability …
Blockchain / May 18, 2021
Golem (GLM) price rallies 230% to hit a 3-year high after protocol upgrade
Over the past few weeks, the price of Golem's GLM network token saw a strong rally that pushed the token to a three-year high at $0.65. The altcoin also underwent a strong pump on Feb. 19, but most of the gains evaporated as Bitcoin (BTC) corrected below $45,000 during the past three days. Nevertheless, GLM still holds a 230% gain in February alone. Golem is an Ethereum-based decentralized application that enables users to rent out computing power resources. Since November 2020, the project has been migrating from GNT to GLM tokens after deploying a new ERC-20 contract. Although most exchanges …
Markets / Feb. 24, 2021
Amazon Pay VP Says No Current Plans to Create Crypto: ‘We Don’t Deal in the Speculative’
Amazon would only consider discussing the creation of its own cryptocurrency like Facebook’s Libra in several years’ time, a senior executive said at a conference on June 10. Speaking at Fortune’s Brainstorm Finance 2019 event, Patrick Gaulthier, vice president of Amazon Pay, said the kind of value transfer system Facebook unveiled this week was a step too far in the current climate. “It’s fresh, it’s speculative; at Amazon, we don’t really deal with the speculative, in the now,” he said. Facebook continues to cause a stir in cryptocurrency, financial and government circles in the wake of the first publicity material …
Altcoin / June 20, 2019
Cybercriminals Sneak in Crypto Mining Malware via Confluence Software Exploit
Cybercriminals are now reportedly exploiting known vulnerability CVE-2019-3396 in the software Confluence, a workspace productivity tool made by Atlassian, according to a report by security intelligence firm Trend Micro Inc. on May 7. The exploit that has been developed allows cybercriminals to stealthily install and run a monero (XMR) miner on a vulnerable computer, as well as covering up the mining activity by using a rootkit to hide the malware’s network activity and toll on the host’s central processing unit (CPU). According to an Atlassian security advisory, the vulnerability in question only applies to some older versions of Confluence. The …
Altcoin / May 7, 2019
Amazon ‘Will Have to’ Create Its Own Crypto in Future, Binance CEO Says
One of the cryptocurrency industry’s best-known figures confirmed he still believes online retail giant Amazon cannot avoid issuing its own altcoin, in a tweet Feb. 2. Discussing the internet business sector more broadly, Changpeng Zhao — CEO of top crypto exchange Binance — said it was not so much a question of if, as of when Amazon will issue its own coin. The retail giant has made efforts to adopt forms of blockchain technology in the past, but its relationship with cryptocurrency remains tied to rumors. Such rumors periodically appear in the press, including those that Amazon could integrate Bitcoin …
Altcoin / Feb. 4, 2019