Cryptocurrency payments. Part 2: benefits for businesses
In the first part of the Cryptocurrency payments article, we talked about who, where, and for what takes crypto payments. In the second part, however, we’ll talk about more practical issues: what are the benefits of crypto payments for businesses, and how to connect your business to crypto acquiring.
The advantages of cryptocurrency payments
Accepting payments in digital currencies offers businesses many benefits, including:
1.Global reach. Accepting cryptocurrencies allows businesses to serve customers worldwide without having to convert currencies or pay cross-border fees.
2.Transaction speed. Crypto transactions are typically processed faster than traditional payment methods, providing quick access to funds.
3.Increased security. Blockchain technology provides increased security and transparency, reducing the risk of fraud and chargebacks.
4.Attracting crypto-savvy customers. By accepting digital currencies for payment, businesses can attract a growing demographic of tech-savvy and cryptocurrency-aware consumers.
For high-risk merchants, who often find it difficult to access traditional banking services, cryptocurrencies are even more interesting as a payment solution. In addition to the benefits listed above, crypto allows high-risk businesses to reduce chargebacks and scams, avoid the risk of account freezes, operate more easily in heavily regulated markets, and offer users much-coveted anonymity.
Prominent high-risk brands make extensive use of crypto transactions
Among the big players in various high-risk categories are quite a few well-known names. For example, one of the largest adult websites, PornHub, accepts payment for premium services in cryptocurrencies such as Verge (XVG), Bitcoin, and Litecoin. The online gambling and betting industry has seen a boom in the last few years with crypto-casinos that work exclusively with digital currencies; top examples include Stake, BitStarz, Roobet, and others. For the legalized cannabis industry in general, PotCoin was developed as its own digital currency, which provides an alternative payment method for dispensaries and marijuana-related businesses.
How do I connect cryptocurrency payments to my website?
Starting to accept cryptocurrency payments on your project is very simple. Fill in the contact form on the Betatransfer website and after a short discussion of your needs, we’ll provide a cryptocurrency payment gateway to accept payments in Bitcoin, Ethereum (0% commission), and Tether (up to 2%) – the most popular cryptocurrencies for online payments.