What is Exeno.com and how does it differ from other e-commerce?
Marek Bałabuch: Exeno is the first global store offering payments in cryptocurrencies only. But it’s more than just an e-commerce platform. It is also a way to open people up to new possibilities: nowadays you can buy your favorite products and pay with cryptocurrencies. It’s easy, it’s safe, and it’s fast. As it should be.
What differentiates us from others? We’ve developed quite an innovative and technologically complex platform, but non-invasive for customers. It allows buying by crypto in real-time without any unnecessary costs and risks. Frankly, we’re a global pioneer.
What does Exeno means? Why do you choose that name?
Actually, our name is based on the Greek word xeno, which can be translated as foreign, exotic, different. And we want to make a difference in the way the world thinks of buying goods online, so that where the e- comes from. E+xeno: electronic difference.
What cryptocurrencies do you offer payments in?
We accept the two most widespread and biggest coins: Bitcoin (BTC), and Ethereum (ETH). Recently we added a Bitcoin Vault (BTCV), an up-and-coming cryptocurrency. BTCV offers an extra level of security and we love the development of this project.
So, it’s those four for now, but we are open to our customers’ suggestions. We’ve just launched but we already have a strong community. If our customers will want any other crypto, we will take it into consideration. After all, we want to develop the best platform. You can’t do that without listening to what users have to say!
What makes you stand out? Many businesses already offer payments in cryptocurrencies, namely in Bitcoin.
This is only partially true. Sure, you can use Bitcoin and some other cryptocurrencies to make online transactions in many places and with some companies. However, before finalizing the transaction, your coins are first exchanged to fiat money like Euro or US Dollar.
Those operations involve several institutions that transfer cryptos, exchange them for conventional currencies and then transfer the latter. Every operation involves a transaction fee that increases the price of buying with cryptocurrencies and, as a consequence, lowers the purchasing power of the coins one owns.
It takes some time, too. The exchange rates of cryptocurrencies can change at a very fast pace, and most businesses allowing their customers to pay using cryptos aren’t able to mitigate such risks. This leads to a further increase in price.
The existing solutions are slow and really complicated. We don’t do business like that. Our solution involves only three parties: the customer, Exeno and Kanga Exchange, our trusted partner providing us with the necessary infrastructure.
Most importantly, however, I can’t explain what our competitive advantages are. And that’s for one simple reason: we don’t have any competitors. Don’t get me wrong, we would love to have it. Every great company became great because of the competition they had. We hope that soon others will catch up and offer similar services to ours, too. We believe that we’re at the start of a new era in e-commerce.
Can I buy at Exeno without registration?
Without registration, you can only browse Exeno.com. You cannot purchase anything without registration. Only registered and logged-in users can buy at exeno.com. The registration process is really simple and quick. You don’t need to go through the KYC procedure etc. After completing all steps during account registration, our support team will verify your account within 24 hours. Then you just need to top up your wallets, find desired products and confirm the purchase. Simple as that.
Doesn’t the exchange rate risk apply to Exeno.com, too? How are you able to mitigate it?
The customers of Exeno.com are completely free of the exchange rate risk. The payments are made directly using cryptocurrencies, they are not exchanged for any other currency or coin in the way of finalizing the transaction.
This is possible through an advanced transaction process. Our registered customers own dedicated Exeno.com wallets, where they transfer their coins before placing an order in our shop. The price of the products is blocked for the time of finalizing the payment (around 1-1,5 minutes), so there is no risk that our customers would have to pay a price higher than what was displayed to them.
While paying for your order, there are no transfers, no QR codes. This makes the payment very convenient, fast, and secure.
How can you guarantee the safety of one’s funds transferred to your wallet?
The dedicated wallets and purchases made at Exeno.com are guaranteed by Kanga Exchange, cryptocurrencies, and crypto-assets exchange. Transfers and payments at Exeno meet the highest safety standards in online shopping.
Which products do you offer and where do they come from?
At Exeno.com you can choose from thousands of products including electronics, electric tools, beauty, and many more. All products offered on our website come from official distributors, or directly from producers. Thus, our customers have access to the manufacturers’ warranty programs. When the customers have problems with the bought product, we offer service through our Customer Support.
We want to reach a point where if you think about buying any goods, you can find them on exeno.com.
We are constantly expanding our offer, which is already quite rich. Right now, we don’t have a dedicated category only for women, but we believe that every woman can find something for herself at exeno.com. We don’t have a “men only” category either. We want to offer products for everybody.
Who delivers orders placed at Exeno.com? How long does it take?
Orders are delivered by the largest, specialized shipping companies. Depending on where the package is shipped to, the process can take 7-28 days. All orders placed at Exeno.com are insured.
We deliver to every part of the world. As long as there’s a physical address, we can deliver there for you.
Can I return the purchased goods?
If products come in damaged, you can certainly return them for a refund. Other than that, no, we don’t do returns. Why? We sell products for cryptocurrencies in real-time. The exchange rate of them can change at a very fast pace, and we have no control over that process. For this reason, we do not have an additional return and refund policy.
Are there any additional costs connected to buying on Exeno.com?
Not really. The only cost introduced by Exeno.com is a fixed 1.8% transaction fee. We do not use any other services or institutions that exchange cryptos for fiat money. We cut the middlemen and this makes the prices of our products much lower.
Are there any limits to using the functionalities of your shop?
There are few, of course. There have to be if you’re running a legit business. The functionalities of our shop are available to registered users only. In order to register an account, the customer has to be over 18 years old.
The value of a single order placed at Exeno.com is capped at 10 000 USD. Such a limit is introduced to meet the Anti-Money Laundering regulations. Exeno.com stays compliant with the GDPR policy introduced by the European Union. We operate legally within the framework of the law.
That’s all. We only collect the personal data necessary to complete the shipping process. We do not require additional checks such as the KYC procedure, etc. Besides that, there are no limits. You can #BuyByCrypto whatever you want, whenever you want, as fast as possible. Isn’t that great?
As promised, we have a BTCV voucher worth $2,000 for one of the authors of those questions. The bonus goes to iris_aska, who asked us about women’s products. Congrats! We already contacted our happy winner through e-mail.
Thank you all for your questions. There were so many of them that we couldn’t answer all of them, but we promise to do another AMA session in the future. Stay tuned!