Whether you are a small or large business owner, you would
be aware of the importance of user experience when it comes to increasing
sales. You must have flexible online payment options that are as easy as
possible for customers to checkout. As a result, Bitcoin payments are nowadays
becoming increasingly popular. But if you are wondering whether they are worth
implementing into your checkout process, here’s what to know about crypto
payments for your business.
How do Bitcoin
payments work?
Bitcoin payments work the same way as many other
cryptocurrencies. To make sure transactions are secure, they use a technology
called the blockchain. A customer can purchase bitcoins (or other
cryptocurrencies) using the currency of their choice and keep the coins in an
electronic wallet. When the customer checks out, they can pay for their
products with what is in their digital wallet.
As a seller, using a
bitcoin payments service, you can convert these into any currency you choose.
Money is then transferred to your business bank account.
However, before knowing the benefits of accepting crypto
payments for your business, you must first understand why businesses today
should accept virtual currencies as your payment methods.
Why Should Businesses Accept Virtual Currency Payments?
Allowing customers to pay with digital assets like bitcoin
has a number of benefits.
The following are the main reasons why businesses should
consider accepting cryptocurrency as a payment method.
•The business gains access to new customers throughout the
world who prefer to pay with cryptocurrencies
•Existing customers can now pay in cryptocurrency through
cryptocurrency payment gateways.
•Customers can pay securely without worrying about
disturbing bank statements.
•Cryptocurrency payments are secure and immutable without
being subject to chargebacks. Blockchain records are retained frequently.
•With this method, you can reduce the cost of payments
associated with other methods, like credit cards.
•Fast and secure merchant settlements are available. It
takes very little time to process crypto payments.
The Benefits of
Accepting Crypto payments for Your Business
For businesses,
crypto payments offer several benefits:
1. Transaction Fees Are Lower
Comparatively to
credit card payments, cryptocurrency has lower fees.
2. Completely Secure
The decentralized nature of cryptocurrency protects
merchants from fraud. Payments can’t be canceled by third parties. Furthermore,
Blockchain technology prevents customers without sufficient funds from making
payments, reducing the possibility of time-consuming chargebacks.
3. Instant Processing
When you pay with Bitcoin or another cryptocurrency, you
don’t have to wait for funds to clear. Unlike bank transfers, crypto payments
are received and processed in real-time.
4. Access to Global Marketplace
The biggest benefit
of using cryptocurrencies is that they open up new markets. Paying buyers from
any country is easy with a universal currency you can convert into local
currency at your end. This can boost revenue and accelerate business growth.
5. It is conducted on
a Peer-to-Peer Basis
Bitcoin is a peer-to-peer payment system, which means that
users can send and receive payments from anyone on the network. Parties to a
bitcoin transaction do not need approval from an outside authority unless they
are sending or receiving bitcoin from a regulated exchange or institution.
6. Flexible Payments
In contrast with
credit and debit cards, in which transactions are tracked with personal
information, bitcoin transactions do not require the use of personal
information, giving customers increased flexibility and choice.
How to choose Your
Crypto Payment Provider
From the discussion
above, it is clear that cryptocurrency is gaining popularity today, and the
time has come to consider cryptocurrency as a payment system for businesses.
However, with many crypto payment gateway
providers out there, choosing the most suitable one for your transactions can
be a little tricky, that’s why we have created a list of all the important
factors that you need to look at when choosing the best crypto payment gateway
service provider.
1. Easy
Signup & Simple onboarding
2. Powerful
Merchant Dashboard
3. 2 Factor
Authentication
4. Easy API
Integration
5. Permits
bank deposits across countries
6. Zero
setup fee, Zero AMC, No software up-gradation fee
7. Multi-user
facility
8. POS
applications for various platforms like Android, IOS, and windows.
9. Multi
coin wallet
10. Simple and
user-friendly interface
11. 24*7
customer support
By considering all the above-discussed factors before
choosing and implementing the right crypto payment gateway provider, you can
have an immediate and positive impact on your brand’s customer experience and
profitability.
One such crypto payment gateway that meets all the above
factors is iPint, which is developed primarily for merchants. As a secure
wallet and decentralized marketplace, being used in over 50 countries, iPint
gives merchants access to an international audience.
If you want more clarity on how the iPint crypto payment
gateway works for your business, feel free to contact us!
Social Media Blurbs
•Are you running an online business? If yes, then take a
look at this article to know the benefits of using cryptocurrency as a payment
method.
•Reading this article, you will learn the top advantages of
how crypto payments can help grow
your business.
•Are you still running an online business with traditional
paying methods? I mean credit, debit, and net banking? If yes, then this
article is for you to know why it’s time for you to consider crypto payments
for your business growth.
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