Source:cloudsavvyit.com

4 Benefits of Accepting Cryptocurrencies as a Payment Option

If you are a business owner, you surely want to offer as many options as you can to your clients, so they can be satisfied with the overall customer experience. One of the things you should always think about is the way you can incorporate the new trends and technologies, and optimize them to be appropriate to the nature of your business. And yes, that means embracing the cryptocurrencies too, since they are creating a whole new aspect of the financial working all around the world.

The transactions are faster, and you can get your money in a minute, no matter where the purchaser is based. Also, they all need to know that you always keep up with the trends, and you do everything to include them in your business.

Small businesses may have a large benefit of accepting cryptocurrencies as a regular payment method, together with fiat money too. There are plenty of advantages, and it may surely boost the overall performance of your webshop as soon as you implement it.

Knowing that people are getting more interested in trading and earning cryptocurrencies through popular platforms, we can also conclude that they are ready to spend the money that, according to honknews.com, they have in their digital wallets. It’s easy to integrate them as a payment method, and you can start enjoying the advantages of your decision.

1. You will attract new customers from all over the world

Source:techmoran.com

A lot of people can’t wait to spend their crypto savings on goods. Many of them are looking for websites that accept cryptocurrencies as a regular payment method, and they are more likely to choose the store that offers that option, instead of those that are limited to traditional money. That means, even if you are based in California, people from some Easter European country can shop, and you will receive the money immediately. There is no need to be stuck to conversion rates when you simply can put a price listed in Bitcoins or any other preferred currency, and make it acceptable for every customer in the world. Foreign transactions are slow and come with additional fees, but you won’t need to do any of that if you use crypto money as an option. So, the customers will love the fact they can pay for the order immediately, and that there won’t be additional fees for international transactions.

2. No option for payment scams

Even though it rarely happens, some people can block the transaction once the order is shipped, and the seller won’t receive the money, but also won’t get the product back, because the process of stopping the shipment is very complicated. Some of the customers are rude, and they are basically “Karens” who can’t wait to open a dispute and request a refund but deny sending back the “damaged” product. But do you know that once the crypto transaction is completed, there is no way to get it back? There is no option for reserving the money on the card and wait until the next day to be processed. So, note your customers to be very careful when transferring the money, because even one wrong character can make a huge difference, and the money will be lost forever (but someone else will get lucky though).

3. Your identity is protected

Source:wealthandfinance-news.com

You and your customers should verify the transaction, and on the other hand, you won’t get to know anything about their identity, and vice versa. That’s why Bitcoin transactions are known as pseudonymous. Many people will say that they are anonymous, but that’s not the whole truth, because the concept is different than the other banks, but if needed, the identity can be discovered by the blockchain address. So, if you don’t do anything shady, you are not at risk at all.

4. Mobility, security, and irreversibility

Source:accountingweb.com

These are the best three features of crypto payments. You can pay for your order no matter where you are based. You don’t need to withdraw money from an ATM, and you also don’t have to go to the shopping mall to buy something. You can literally purchase the item right now, while you are at work, and pay for it immediately. The transaction is fast, and it comes with a low fee, or no fee, it’s sealed in the blockchain, and irreversible. At the same time, it’s secure, and no one can find some breach and steal your money from you, especially if you take proper care of your crypto belongings, and use the keys to keep the digital wallet locked. For more info about exchange with cryptocurrencies check bestcryptoexchangeaustralia.com.au.

How to incorporate this option?

You have two ways to do that. You can use your personal wallet or a payment processor. Also, you can choose between virtual or physical wallets, depending on your needs and preferences. Another option is to hire a third-party company to support the payment process, just like the banks are doing that, and hold on to them through the whole process. We will recommend you to choose the second option because the wallets can be tricky, and you will need a blockchain developer to help you with that. In the third-party option, you are paying for the mediation service, and you can calculate that in the price, and receive the money safely.

There are many platforms that can be integrated with your eCommerce shop and you can start receiving orders today, no matter what payment method your customers will choose.

Embracing the new technologies and trends is crucial for a new business to develop properly, and always keep the clients satisfied with the service. And when it comes to Bitcoins, it’s just a matter of time when they will be widely accepted all around the world.

You can offer a unique service to your clients, and they will share their experiences with the people they know. And that’s a huge benefit for you, especially if you own a small business. Don’t be afraid to use cryptocurrencies, because that will make you different from your competition.


Ricardo is a freelance writer specialized in politics. He is with foreignpolicyi.org from the beginning and helps it grow. Email: richardorland4[at]gmai.com