Digital Currency as an Option Payment for the Goods in E-commerce

The aim of this chapter is to present a general procedure for establishing virtual currency payment options in e-commerce. The authors of the chapter delve into the realms of e-commerce and virtual currencies, examining payment alternatives in Slovakia and abroad. Emphasis is placed on elucidating the relationship between virtual currency and e-commerce, encompassing a comprehensive characterization of cryptocurrency. The incorporation of cryptography into the discourse is pivotal. A thorough explication of the peer-to-peer network concept is imperative since cryptocurrencies operate on this principle. The analysis extends to e-payment options within the European Union and Slovakia, evaluating both the merits and drawbacks of implementing cryptocurrency as a payment method. Furthermore, the chapter addresses the overarching pros and cons associated with such e-payment systems. A comparative analysis between the widely used cryptocurrencies Ethereum and Bitcoin is also included. The research component of the chapter scrutinizes the feasibility of integrating cryptocurrency payments into e-commerce platforms. Utilizing information gathered from various websites and email inquiries, the authors compiled a general procedure for introducing virtual currency as a payment alternative in e-commerce. The selection process involved pairwise comparisons of third-party payment options. The resultant findings facilitated the creation of a comprehensive proposal outlining the establishment of virtual currency as a viable payment option.