Cryptocurrencies are becoming more popular as time goes on, with 20% of Americans investing in some form. This number will likely continue to rise as the public becomes increasingly aware that cryptocurrency offers great benefits over fiat, which can be inflationary if not controlled properly by central banks.
At this point, it is pretty clear that cryptocurrencies are becoming mainstream and will change the business landscape going into the future. As a forward-looking business, this is an excellent time to start looking into how your business can benefit from cryptocurrencies.
If you still doubt that cryptocurrencies will change the business landscape, consider the fact that big corporations are already jumping in.
Imagining a world where you can buy your car with cryptocurrency is exciting and nerve-wracking. But it may not be too far off, thanks to Elon Musk’s recent actions. In 2021, Musk announced that customers could pay for cars in Bitcoin. While he later paused on this for environmental reasons, he said they would still consider it in the future. Besides, he still approves Dogecoin payments for purchasing various Tesla merchandise. It is an indicator that Tesla, one of the world’s biggest tech companies, believes in a crypto future.
Many other large corporations, ranging from Disney to Microsoft, are also considering cryptocurrencies and blockchain technology in one way or the other. For instance, Disney recently included Polygon (MATIC) into its accelerator program, while Microsoft is moving into the Metaverse.
Now the big question is, how can your business integrate cryptocurrencies and become an early adopter of this technology?
Here are a few ways that you can do it.
Use cryptocurrencies to give employees a stake in the business
Companies have long used equity to make employees feel valued as part of the business. However, this has usually been the preserve of large corporations due to the technicalities involved in the process.
With cryptocurrencies, any business can offer employees a stake in its operations. One way to do this is by launching a cryptocurrency token for your companies and then giving tokens to your employees.
This is pretty easy to do and in most cases, does not require any specialized skills. With such a token, you can let your staff vote on various decisions within the business. This approach can help you build employee loyalty while also giving your employees a chance to make money from the appreciation of the token value. Since the tokenization of assets is still in its infancy, you can give your business a major leg-up over competitors by taking this approach.
Use cryptocurrencies to raise capital
If you are an SME and not in a particularly disruptive line of business-like tech, it can be hard to raise money from venture capital. Raising money through the stock markets is not easy either.
With cryptocurrencies, you now have the potential to raise capital without the complexities of VCs and other ways to raise capital. Thanks to cryptocurrency-related funding programs, raising capital in crypto online is possible.
While crypto crowdfunding programs have their challenges due to so many scams posing as legit businesses, it is a method that still works. Besides, the process is easy, and any company can do it. You should seriously consider cryptocurrencies to generate capital and take your business to the next level. The opportunity is there, and it’s huge.
Use cryptocurrencies as a means of payment
Crypto is starting to look more and more like a better alternative daily. It’s not just because it has no centralized control or that prices fluctuate without anyone’s say so. It really does seem as if this technology will finally give us back what money should be: A reflection of our values.
This is why more and more consumers are willing to start paying in crypto for everyday services. As a business, you can take advantage of this emerging trend by accepting cryptocurrencies for payments.
In the past, this could have been a challenge, but not anymore. Thanks to payment methods like BitPay, Binance Pay, and Payaabb, you can easily accept cryptocurrency, just like you would with conventional payment gateways such as PayPal.
One of the best cryptocurrency payment gateways you can try out for your business is Payaabb. This payment gateway has several advantages you might find helpful as a business.
The first and most important one is the ease of integration. The Payaabb cryptocurrency payment gateway is designed in such a way that you can integrate it into your business website without the help of a programming expert.
Secondly, Payaabb allows you to receive payments in multiple cryptocurrencies. In fact, you can accept payments in more than 400 cryptocurrencies. This is a big deal considering that investors today hold a diverse range of cryptos in their portfolios. As such, accepting multiple cryptocurrencies increases the chances of customers buying from your business and grows your revenues over time.
Payaabb also has the advantage of social media and SMS payments. This means a client can pay for services from the business through their social media platforms, which can help draw young consumers to your business.
Payaabb also has the advantage of security. When customers make payments through Payaabb, you can be sure that no bad actors can compromise the system. That’s because this payment gateway relies on time-tested security systems and has some in-built security mechanisms.
You will also love the fact that Payaabb fees are among the lowest of all cryptocurrency payment gateways. This is a big incentive for clients to spend on your business and can help attract new clients in the long run.
From the above, it is clear that there are multiple ways that you can position your business for long-term profitability using cryptocurrencies. All it takes is to be open to new ideas. If large corporations that have to do things within tight regulations are considering crypto, there is no reason why you shouldn’t.