It’s time to get ahead of the curve and accept cryptocurrency as a payment form. The only companies with an advantage in the coming years are those who take this step now.
In 2018, more and more people were starting to use cryptocurrency as their preferred form of money. The momentum has accelerated over the past year. Why? For starters, it’s become easier than using cash or credit cards for everyday purchases because there isn’t censorship.
If you’re looking into how best your business can benefit from this trend, here are five reasons why accepting digital currencies could be a brilliant idea:
Low fees that can draw in customers
One advantage that cryptocurrency has over fiat money like dollars and pounds is that there aren’t any processing fees. This means more profit. As a business owner, you also get to enjoy the ability to exchange funds faster because these transactions don’t cost anything. Comparatively, international bank cards or credit card payments usually have hefty conversion rates up to 3% per transaction. This can also give you an edge over competitors in attracting new clients.
Besides, with over 10k cryptocurrencies in the market today, you have variety in choosing the one with the lowest fees. The best deal on your transactions is by connecting customers with blockchains that offer cheaper fees.
You can draw in new clients attracted by the thrill of crypto
As more people are interested in investing, spending, and trading cryptocurrency – virtual currencies can help you draw in new customers. It’s an excellent way for your business to seem modern or tech-savvy.
Simply put, getting on board with blockchain technology is a risky but potentially rewarding strategy for any small business. Accepting crypto can open up new customers and make getting your product or service easier in front of people who love the idea of paying in crypto.
You can accept payments from clients from all walks of life
A small business owner, such as yourself, would be able to reach customers close by or even those living abroad if you accept cryptocurrency payments through your website. It doesn’t matter where they’re from; everyone with an Internet connection can shop at your store without limitations.
Crypto is the solution for people who don’t like dealing with banks or credit card companies. That’s a market you get to tap into and take such clients away from your competitors.
Your business will also be able to make international payments without worrying about complicated currency exchange rates or credit card chargebacks.
Besides, cryptocurrencies are quickly becoming popular for purchasing goods and services. Most major cryptocurrencies can be used on point-of-sale devices or websites, making accepting these payments manageable for small businesses.
With crypto, your risks of being defrauded are reduced
Cryptocurrencies offer security and peace of mind that you can’t get anywhere else. You know your money is safe because there’s no third party involved in transactions.
On top of that, cryptocurrencies allow for a more secure and reliable way of doing business. There’s no chance that an individual can cancel their purchase after it has been made, which is what every business owner longs for.
Businesses that don’t have the resources to fight scammers are at risk of fraud. But with virtual currencies, you can rest easy knowing that the power of decentralized networks is in your favor.
Trading crypto is super easy.
Another major benefit of accepting cryptocurrency payments is the ease of currency conversion. For example, if you are a small business owner in America and accept bitcoin as payment – when there’s a high value on coins – you can sell at that price and keep the difference. But what happens if things go down? Your company won’t suffer losses since you can flip crypto for fiat instantly. It’s a win-win.
Best crypto payment gateway to use today
Now that you know the benefits of integrating cryptocurrency payments, what’s the best way to go about it? Well, there are many cryptocurrency payment gateways that you can try out today. One of the best ones is Payaabb.
A number of benefits come with using this cryptocurrency payment gateway at your business. One of the most significant benefits of using Payaabb is taking a wide array of cryptocurrencies. You can receive anything from Bitcoin, Ethereum, Litecoin, and many others.
The other significant benefit of Payaabb crypto integration is security. Hackers have become increasingly sophisticated and should be a concern for any small business accepting online payments. With Payaabb, you don’t have to worry about such. That’s because this payment gateway is secured by Google 2FA, Authenticator, and sophisticated security features built in-house by the Payaabb team.
The best part is that setting up a Payaabb merchant account is super easy. Anyone can do it since no hardware or fees are required.
You can also incorporate your Payaabb merchant account into your marketing strategy. That’s by setting up a referral program within your Payaabb merchant account.
Payaabb crypto payment integration also comes with the ability to pay using social media platforms and even SMS. For instance, once a small business integrates this system, it can start taking payments via WhatsApp and other instant messaging applications. This is a big deal because it is fun and also opens up the business to adoption by a much wider audience from across the globe. From a business perspective, this means more potential for revenue growth.
The system also can customize to meet your individual business needs. This is perfect considering that no two businesses are alike in the way they like their website outlook. When you choose Payaabb, you get the website presentation the way you want it. That’s a welcome bonus on top of all the other features.
The future of cryptocurrency is now and here. Small businesses should consider accepting it to be on the cutting edge, or at least ahead of the curve when it is time for widespread adoption.