On Monday, Schmidt’s Naturals, a personal care products company owned by Unilever, began accepting bitcoin for online payments.
Michael Cammarata, co-founder and CEO of Schmidt’s, told CNBC that in an era of cryptocurrency the company is giving consumers what they want.
“Some of the [website’s] subscribers were like, ‘Hey, we want to be able to pay in bitcoin,'” he said Tuesday on “Power Lunch.”
Now customers can shop on the company’s website for a variety of natural products — including deodorant, toothpaste and soap — and check out with bitcoin.
The company uses BitPay, a bitcoin payment service provider, for online transactions.
Bitcoin was priced around $8,500 on Tuesday. While the price disparity between a single bitcoin and a bar of soap, for example, may be huge, Cammarata said BitPay allows users to pay a fraction of each bitcoin. In addition, most shoppers use the coins to buy monthly or yearly subscriptions, not “one-off purchases,” he said.