Does anybody even read TIME Magazine anymore? Who knows? But the magazine seems to believe it can boost readership by pairing up with Crypto.com to ensure that subscribers can pay for their subscriptions with digital currency in the future.
TIME is Partnering with Crypto.com
The idea of using cryptocurrencies to pay for items has always been a goal of bitcoin’s creators. Those behind the development of digital currencies had always pictured digital assets as payment methods to be used by those who could not gain access to standard banking services. If you did not have cash or a credit card, you could use crypto to garner the goods and services you needed.
However, this dream has often not been realized given how volatile cryptocurrencies can be. Many retailers stand to lose profit if they potentially allow bitcoin or Ethereum payments and thus, we cannot really blame them for saying “no” in the past.
Take this scenario into account. If you walk into a store and buy $50 worth of merchandise with bitcoin, and then suddenly the price of the asset goes down and the store has not traded it in for fiat, you will still walk away with everything you bought, while the retailer is bound to lose a few dollars here and there. While the situation may work for you, it does not always work for the company on the other end.
But as time has gone by, we have seen many largescale companies suddenly allowing crypto payments for items and services. Enterprises like Tesla and PayPal are now permitting bitcoin payments for products, and the attitude amongst many competing firms seems to be, “If BTC is good enough for these billion-dollar companies, it has to be good enough for us.”
Thus, TIME is one of the many new businesses willing to take on bitcoin payments in the future. Granted you pay with crypto for your TIME subscription, you can gain access to all the magazine’s content for approximately 18 months. President of the magazine Keith Grossman explained in an interview:
As TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto.com.
The chief technology officer of the publication Bharat Krish also had some positive things to say about the partnership, commenting:
We are thrilled to offer cryptocurrency as a payment option for our digital subscribers for the first time. TIME’s rapid digital transformation on behalf of our community is the result of our commitment to embracing new technologies and working closely with innovative companies like Crypto.com to bring our ideas to fruition.
Pushing “Digital” Readership
Kris Marszalek – co-founder of Crypto.com – said:
We feel very fortunate to partner with TIME.