Pay Up for Deodorant with Bitcoin

May 18, 2018

By Michael Teich

Want to use crypto to buy deodorant online, don't sweat it.

Schmidt's Naturals is giving consumers the option to use Bitcoin for online purchases on its website.

Schmidt's is the only Unilever brand to accept cryptocurrency as a method of payment. Unilever said it acquired the deodorant brand in 2017 to extend its reach to "new customers who prefer natural options."

A stick of Schmidts Naturals in scents like bergamot and lime, cedar wood and juniper, and lavender and sage cost about $9, or 0.0011 Bitcoin.

Michael Cammarata, a co-founder and the chief executive of Schmidt's Naturals, told Cheddar that consumers who are interested in natural products are some of the same people who are into Bitcoin.

Cammarata said his company listens to customers' demands, “whether it’s a scent or a payment method."

The new Bitcoin payment option has shown promise, Cammarata said. Between 5 and 10 percent of direct sales on Schmidt's online platform were made in Bitcoin since it began accepting the cryptocurrency on May 14.

For the full interview, click here.