The cryptocurrency market is growing, with Web 3.0 being one of the areas showing the most growth. Unlike in the past when crypto was a preserve of young people looking to get rich quickly, the space is now more mature.
Today, the jump to Web 3.0 is being led by top executives of big tech companies and other professionals from different industries. Among the big names representing a paradigm shift to Web 3.0 is Surojit Chattejee of Google, who joined Coinbase, and Pravjit Tiwana, who left a big position at Amazon to join Gemini. Many others, even from the financial sector, are also jumping to Web 3.0.
The entry of such professionals shows a greater acceptance that Web 3.0 is the future. As such, businesses should take steps to align themselves with this changing paradigm strategically.
How can businesses align themselves with the coming Web 3.0 revolution?
It starts at the strategic level. A business’s top management should accept that the Web as we know it is changing. Acceptance at this level can create the way for the technical implementation of the various changes needed for the business to be perfectly aligned with the new world, where blockchain is at the core of all operations.
Such preparations are necessary because most tech experts believe the shift to Web 3.0 will be radical. For instance, those who understand the technicalities of the internet believe that the change to Web 3.0 feels more like the days of Web 1.0.
According to Karl Jacob, who co-founded Bacon Protocol, the culture feels a lot more like Web 1.0. The winners are those that can write the most innovative code that others can build on. Jacob also noted that just like in Web 1.0 when the community was heavily involved in the development, the same is happening in Web 3.0, where DAOs and other community initiatives are leading the way.
Since Web 3.0 is essentially a reset of the Web as we know it, it will need significant investments, especially for businesses that want to get in early. That said, with cryptocurrency adoption on the rise, there are multiple low-cost ways that a company can take to get into Web 3.0.
One of the best ways a business can integrate cryptocurrencies at a low cost is by adding a cryptocurrency payment gateway. This gives your business a bridge between Web 2.0 and Web 3.0 at a low cost.
However, with cryptocurrency adoption still in its infancy, and scams rampant in the industry, it can be hard to find a viable cryptocurrency gateway to integrate into company systems.
To simplify the process, a business can follow the steps below and lower the chances of making the wrong choice when choosing a crypto payment gateway.
Choosing a good cryptocurrency payment gateway
If you follow the steps below, you should be in a position to increase your odds of finding a top-ranking crypto payment gateway for your business.
Check their online reviews
Like everything else online, customers’ reviews about a crypto payment gateway can tell you a lot about its viability. The more positive reviews a gateway has, the better the odds it is good. The last thing you want is to integrate a payment gateway that has issues other clients have raised in the past.
Be keen on security.
The online payments world is brutal, and hackers are always looking for ways to defraud businesses. The best crypto payment gateways have a mix of in-house and external security to ensure that no one can hack into your systems. The idea is to ensure that neither the business nor its clients get to lose money from the use of such systems.
Ensure it supports multiple cryptocurrencies
To make the most of a cryptocurrency payment gateway, ensure that it supports a wide array of cryptocurrencies. Cryptocurrencies are quite diverse, and limiting yourself to only a few can lead to a loss of customers. Luckily, most of the top cryptocurrency payment gateways support most cryptocurrencies in the market today. As such, this shouldn’t give you much of a problem.
Check their fees
Cryptocurrency payment gateways are in business, just like you. They charge a fee for their services, and if you are not keen on the fees, they can drain your revenues. While you should not compromise on other key features such as security for fees, it is still a factor you must consider. When looking for a good cryptocurrency payment gateway, strike a balance between fees and other core considerations.
Social media integrations
More than a billion people use one form of social media today. This makes social media a perfect avenue that can be monetized to increase the potential a business can reap from integrating a crypto payment gateway. The best crypto gateways allow for payments through multiple social media accounts and SMS.
Top option to consider
Based on the criteria above, there are multiple cryptocurrency payment gateways that you can consider and significantly increase your odds of a successful jump to Web 3.0.
From our research, the Payaabb cryptocurrency payment gateway is one of the best. This cryptocurrency payment gateway ticks all the right boxes. It has a two-tier security system, accepts multiple cryptocurrencies with instant fiat conversions, and allows customers to pay through SMS or social media.
On top of all that, the Payaabb integration process is very straightforward, and their fees are among the lowest of all crypto payment gateways in the market today.