Cryptocurrencies as payment method: advantages and pitfalls. Part 2

Users have quite a significant demand for payments with cryptocurrencies – according to PYMNTS, 54% of businesses’ clients believe that not enough merchants offer the possibility of paying for goods and services with cryptocurrencies. Crypto is becoming more and more popular, and denying its convenience as a payment method in both B2C and B2B is simply silly.

However, like any payment method, cryptocurrencies have their advantages and pitfalls, which are important to understand for all entrepreneurs who plan to connect crypto acquiring for their project.

Advantage: no chargebacks

For businesses, chargebacks are a very unpleasant circumstance, and the higher the turnover, the greater the risks. The freezing of disputed funds on accounts interferes with normal operations, and for some businesses can result in a complete blocking of accounts.

When paying with cryptocurrencies, users do not have the opportunity to dispute the transaction and return the money according to the decision of the payment system. And for businesses, especially from high-risk categories, this is a clear and powerful advantage.

Pitfall: the attention of regulators

Businesses that work with crypto can attract special attention from regulators: in some markets because of the uncertain status of cryptocurrencies, in others because of the chosen niche of work. There are more high-risk categories than we usually imagine, so it is worthwhile to carefully study this issue and think about ways to counter it. And it’s best to ask professionals, because there are a lot of nuances in this topic, and the situation changes often.

Advantage: a tool to combat fiat volatility

Compared to traditional money, crypto is much more stable. Yes, its rate also fluctuates sometimes, but you can always rely on a number of stablecoins.

Pitfall: the volatility of the cryptocurrency itself

And yet, crypto coins sometimes fall sharply in price. Thousands of people are anxiously watching bitcoin price fluctuations, which dropped to $20,000 in July.

For such cases, the salvation of nerves and capital can be the binding of the crypto exchange rate to the exchange rate of one of the stable fiat currencies, for example, the dollar. Such a tool allows you to balance currency fluctuations, which reliably insures business finances.

Cryptocurrency acquiring from Betatransfer Kassa allows you to work with USDT(TRC/ERC20), Ethereum and Bitcoin, and provides a number of advantages, such as fixing the exchange rate in USDT, security, and low cost of transactions.