Cashback network marketers are in a unique position to offer cryptocurrency payment solutions.
There are some companies like Watkins Network Marketing, which has partnered with Paypal, which have the potential to grow their business with the help of cryptocurrencies.
But what do these companies do?
Most of them offer cashback networks to promote cryptocurrency transactions, including buying and selling.
They also have the ability to connect with cryptocurrency buyers and sellers.
“There are more than 2,000 different cryptocurrency payment networks in the world, and they are being integrated in almost every market,” said Prabhakar Gopalakrishnan, founder and CEO of Watkins Networks, a payment platform for network marketing.
“It’s a unique opportunity to grow the business of cryptocurrency payment services and build a real, differentiated brand.”
With this unique opportunity, the network marketing team at Watkins, based in Mumbai, has decided to take up cryptocurrency payment for the first time.
“We have built a digital wallet for our network,” said Gopalath, adding that the first transaction on Watkins’ platform was made in February 2017.
The cashback platform offers various currencies such as Bitcoin, Ethereum, Litecoin, Ripple and Ripple+Ethereum.
“When we started the project, we had a few coins and we were selling a lot,” Gopaladhan said.
Now we have more than one million rupees from the cryptocurrency transactions and are able to grow our business.””
At the time, we were making about 50,000 to 100,000 rupees a month from it.
Now we have more than one million rupees from the cryptocurrency transactions and are able to grow our business.”
Watkins has been working with cryptocurrency payment platform Paypal for the last few months, as well as with cryptocurrency trading platform Kraken.
Both companies have been providing cashback payment solutions for network marketers since their inception in 2016.
“In our company, we have partnered with a lot of other companies that have a lot in common,” Gopher said.
The network marketing experts at Watchers said the cryptocurrency network has been a very good fit for them.
“We have been working on cryptocurrency payments for about three years,” Gom said.
But with the addition of Paypal to the mix, the opportunity has definitely been there.
“Paypal is very good because it is a payment solution that doesn’t require a lot, and is available to all of the world,” Gollas said.
With cryptocurrency payment, the payment is made in the form of cryptocurrency or fiat currency, so there is no need for a bank account.
“This means that we can make money on a monthly basis, which we haven’t been able to do before with other payment platforms,” Gomer said.
Watkin is also targeting to add more cryptocurrencies as it grows.
“A lot of the network marketers have been doing bitcoin and are going to migrate to that as well,” Gopan said.
He said the company is looking to start accepting Ethereum-based currencies as well.
Gopaladhans company, Watkins Solutions, has more than 40 years of experience in network marketing and digital payments.
“The network marketing is the next big opportunity for us,” he said.