Amazon Marketplace owners who decide to withdraw can choose to receive Bitcoin and cryptocurrencies thanks to Elevate Brands’ new ‘Cash or Crypto’ program, in partnership with Coinbase Prime.
Amazon Marketplace and Elevate Brands’ ‘Cash or Crypto’ Program
According to Elevate Brands‘ new ‘Cash or Crypto’ program, all Amazon Marketplace sellers who decide to withdraw will be able to receive Bitcoin and cryptocurrencies.
BIG NEWS! Introducing the Elevate Brands Cash or Coin acquisition program! 🎉 As the only Amazon aggregator to offer #Bitcoin as part of exit transactions, we're proud to be at the forefront of a new digital age. Will you choose #CashOrCoin? Learn more at https://t.co/ZhjR2MIbej. pic.twitter.com/gOxcDI3dqW
— Elevate Brands (@meetelevate) January 27, 2022
“BIG NEWS! Introducing the Elevate Brands Cash or Coin acquisition program! Sparacoriandoli As the only Amazon aggregator to offer #Bitcoin as part of exit transactions, we’re proud to be at the forefront of a new digital age. Will you choose #CashOrCoin? Learn more at”.
Elevate Brands has partnered with Coinbase Prime to become the first aggregator on Amazon to offer BTC and crypto for outbound transactions.
Basically, Elevate Brands holds a portfolio of Amazon-focused consumer product companies, and, thanks to the new ‘Cash or Crypto’ program it will be buying outbound business from Amazon Marketplace even in crypto.
Amazon Marketplace and the first case of payment in Bitcoin
In 2021, Elevate Brands seems to have already applied the ‘Cash or Crypto’ program, with the purchase of Nicky Eary’s company, paying in Bitcoin.
Thanks to this program, payments on Coinbase Prime should make sellers who close their marketplace on Amazon benefit from low commissions and high trading volumes. In this regard, Nicky Eary said:
“When I sold my business, I had planned to allocate some of the funds to bitcoin. The fact that I could be paid in crypto instantly through Elevate made investing a much simpler process”.
Ryan Gnesin, CEO of Elevate Brands also shared his thoughts in a press release:
“We’ve learned that [Fulfillment by Amazon] sellers are already well entrenched in crypto, so we are thrilled to be the first company in the Amazon ecosystem to offer the option of Cash or Coin”.
Bitcoin and mainstream adoption
Elevate Brands’ new initiative for Amazon Marketplace owners is one of many participating in the mainstream adoption of Bitcoin and cryptocurrencies.
If you think about Bitcoin ATMs, for example, an average of 50 new ones were installed per day in 2021 alone.
According to year-end data, the United States was in first place with nearly 30,000 machines installed, followed by Canada with 2,220 and El Salvador with 205 and Spain with 197. Italy ended 2021 with 69 Bitcoin ATMs and in twelfth position.
With Spain’s already announced new promise to install another 100 new ATMs in 2022, there is significant interest in increasing mass adoption of BTC and crypto. This would make Spain the top country in Europe and third in the world for cryptocurrency ATM offerings.