Cryptocurrency is a digital word. It takes place on our computers and online. Increasingly, shopping is moving into that digital sphere. We are buying more and more of our goods online through retail services like Amazon. As a result, it’s frustrating and inconvenient that most online retailers don’t accept crypto.
However, a new service is offering an interesting solution to this problem.
What Is Moon?
Moon is an ambitious new service offering a browser extension that allows users to shop online with cryptocurrency. The extension is currently in beta but it already has over 1,300 users. It’s also free.
Moon currently works with three different browsers, including Chrome. It supports Bitcoin, Ethereum, BitcoinCash, and Litecoin via Lightning Network. Right now it only works on Amazon but they plan on opening it up on other major online retailers. Current objectives include Target, Etsy, ebay, AliExpress, Domino’s, and others. Unfortunately, there’s no estimate on when these updates will be available. We’ll have to just be content with Amazon for the time being.
How Does it Work?
Moon is still in beta, and right now its website is pretty basic. It tells us how the tool works but not how the company works.
How the tool works is pretty simple. First you need to download the browser extension. You then need to create a Moon account. After that you’re ready to shop. That’s pretty much it on the frontend.
As far as the backend goes, Moon creates an Application Programming Interface — or “API”. The API allows Moon to work with Lightning Network and with Amazon. This allows Moon to essentially use the crypto that you put in to buy an Amazon gift card which is then used to carry out your purchase. Some users have left reviews saying that you could do this yourself without Moon. While this is true, many users say that Moon is still faster and more convenient than going without it. This will be even more convenient once Moon starts working with more retailers.
One thing that may send up red flags is that Moon is free. I couldn’t find out how they make their money. And they have a decent amount of overhead considering web development teams, customer service, etc.
Moon and the Future of Cryptocurrency
Moon is exciting for a number of reasons. On the surface, it’s an easy, free, fast way to make online purchases with cryptocurrency. However, it goes deeper than that.
The things that you could use cryptocurrency for were initially very limited. It seems like every day there are more and more ways to use it. Every new way that you can use cryptocurrency is another reason for more people to adopt it. Right now many people who have crypto still have crypto as a form of investment. Services like Moon make it easier to use crypto as a form of currency.