Meet Moon, a three-person startup that lets you pay for stuff on Amazon using bitcoin via the Lightning Network, bitcoin, Litecoin or Ether. The company has released a desktop browser extension for Google Chrome, Brave and Opera.
While some e-commerce retailers let you pay with cryptocurrencies, the biggest e-commerce platforms have yet to accept cryptocurrencies. Moon doesn’t want to wait, and wants to make it possible to pay with cryptocurrencies using current payment methods.
After installing the extension, Moon automatically recognizes when you’re on an Amazon checkout page and inserts the company’s own payment widget. You can see how much you’re going to pay in cryptocurrencies before accepting the transaction.
Right now, Moon lets you pay using two different ways. You can pay with any bitcoin wallet that works on top of the Lightning Network. Normal bitcoin transactions can take minutes to be confirmed on the bitcoin blockchain. The Lightning Network lets you open a payment channel between Lightning nodes to enable fast transactions.
Moon also lets you pay with your crypto balance on your Coinbase account. This way, if you hold bitcoin, Litecoin, Ether, etc. on your Coinbase account, you can also pay in seconds by leveraging Coinbase’s API.
Behind the scene, Moon uses prepaid value on Amazon. When you pay with Moon, the service automatically converts your cryptocurrencies, tops up your Amazon account and pays with your Amazon balance. Moon doesn’t charge additional fees.
In the future, Moon plans to expand beyond the U.S. and Canada and let customers in Europe use the browser extension. Similarly, Moon wants to expand to other e-commerce websites. Moon participated in the Entrepreneurs Roundtable Accelerator.
Source TechCrunch by Romain Dillet
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