Bitcoin payments offer better value to Tealet suppliers
Tealet, an online specialty tea company, is one of the first tea companies to accept payments by Bitcoin, a popular cryptocurrency. Tealet seeks to bridge the gap between tea growers and tea consumers by selling their teas directly from origin, without middlemen. Integrating Bitcoin into the e-commerce website allows farmers in producing countries to avoid bank charges and currency conversion fees, which can eat up a sizeable portion of their earnings. On the consumer end, paying in cryptocurrency avoids credit card transaction fees of 3% and translates into an equivalent discount for shoppers. Tealet also incentivizes the use Bitcoin within the company itself and offers 20% of a salary to be paid in Bitcoin, with a corresponding amount matched by the company.