We (Lock Pick World) manufacture and retail non-destructive entry tools, that’s ‘Lock Picking tools’ to the uninitiated, the tools a locksmith would typically use to get you into your house when you’ve lost the keys. But we also supply the military, fire and police services, movies, landlords, and the increasingly popular LockSport market, which is competitive lock picking. We’ve been trading online for over a decade now and have a great global reputation.
What are your favorite crypto currencies?
It’s going to have to be Bitcoin, simply because that’s the one I invested in very early and did pretty well out of! It;s also the one the general public tend to know so it makes the spreading of the crypto word a lot easier. It kind of works as an umbrella term for crypto now, which although technically incorrect, has it’s uses. I remember transfering $2000 worth of BTC to my girlfriend a few years ago and was amazed at what we’d done. With no central agency we’d move currency – incredible!
How long has your business accepted crypto for?
We received our first crypto payment in March 2016 so just over two years. It was a bit slow at first, but once word got round and as soon as it became easier to source and buy BTC we noticed an increase in payments made in this way. We also offered a couple of promotional incentives, for instance one week if you paid in crypto you got a discount.
What made you accept crypto currency for your business.
The decision to accept crypto payments was easy to make since it was an organic development from my own investment and using of crypto. It seemed to make sense that if I was owning crypto and making purchases, I should open that up to my own customer base. I learned very early on in business taking risks and supporting innovation are essential if you don’t want to get stale and slowly disappear. I think is reflects well on a company to show they’re engaged with new tech and open to fresh and exciting ideas.
How has the feedback been?
Without sounding like a stone-hearted businessman I tend to judge feedback in terms of the bottom line, and since people continue to select crypto as a payment option is enough for me to continue to offer and promote it as a payment method.
Looking back in hindsight, would there be anything you would’ve done differently that you think would have helped boost crypto payments sooner?
In retrospect I would have made a bigger deal of our ‘accepting BTC launch’ a few interviews on relevant websites, maybe a competition to win some free BTC – I mean, these are all things I am still considering, but a focussed campaign at launch would have made sense, and we missed that opportunity.
We still have long and loyal customers suggest we should accept crypto, and I’m like ‘we already do’, so we’re definitely not promoting the information as best we could.
It’s on the list, but as anyone in eCommerce knows, the list itself is on another list, and both are pretty much infinite!
Check out great crypto deals from Lock Pick World