Female-focused brands accept crypto payments driving adoption.
The billion-dollar beauty industry has taken a recent interest in Bitcoin. Ann McFerran, CEO and founder of Glamnetic — a magnetic eyelash beauty brand — told Cointelegraph that the company now accepts Bitcoin, Ethereum (ETH) and Dogecoin (DOGE) through a recent partnership with Bitcoin payment provider BitPay. According to McFerran, Glamentic is one of the very first female-founded beauty brands to support crypto payments.
McFerran shared that she started investing in cryptocurrencies in 2017, yet noticed that the space was heavily male-dominated. To McFerran’s point, research firm BDC Consulting found that only 8% of all crypto users were women in 2019. After launching Glamentic in July 2019, McFerran was determined to incorporate crypto payments into the brand to encourage women to use cryptocurrency:
“The beauty industry is a sector where crypto payments aren’t widely accepted. I wanted Glamnetic to be one of the first brands to support crypto payments since I’m a huge believer in cryptocurrency and because I want to bring more women into the space.”
McFerran further mentioned that she believes there is still a lot of stigma associated with how crypto is being used today. “It was certainly not a secure payment method to begin with,” she remarked. McFerran noted that events such as Silk Road and Mt. Gox have further resulted in women’s disinterest in crypto: “Even to this day, women are not fully educated when it comes to crypto. I want to educate others so they can understand the risks and what they are potentially missing out on.”
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