The digital revolution in the industries has simplified data management, payment transactions and other processes to a greater extent. Still, the traditional fintech system has hindrances in performing overseas and trade transactions. The fiat payment system takes 5-15 business days to complete the international transaction. Hence, the world shifts to better, swift and secure crypto payments!
As of now, around 3 million active crypto users frequently utilize the crypto coins for their trade transactions. In most of the developed countries, cryptocurrencies are accepted as a legal payment method; thereby, it becomes inevitable for all the countries to accept crypto coins soon. You can accept the crypto payments for your business just by integrating the gateway from the cryptocurrency payment gateway provider!
Now, let’s get through the reasons to accept crypto coins for your business!
Top 5 reasons to accept crypto coins!
Low Transaction Charges
The crypto payment system takes up only a minimal amount of transaction charges when compared to conventional or digital payments. The traditional payment system incurs huge lists of fees in every process like bank transfers, credit/debit card transaction, minimal balance, overdraft and other commission charges. The crypto payment gateways incur only 0.5-1% transaction fee on the whole, which is completely negotiable when compared to traditional POS.
Traditional bank transfers, credit/debit card transactions and other digital payment methods opt for consumer’s financial, personal and other unwanted data for processing. The huge data storage in centralized servers are prone to hacks, thereby the traditional payment techniques and their aggregated data become insecure.
Crypto transactions require only the public key of the wallet and the shipping address to perform transactions. Hence, the consumer data is secure enough and could be protected from hacks easily as they are decentralized. The safest crypto payment acceptance can enhance your sales figures globally!
Instant Borderless transactions
Instant cross-border payment transactions are considered as the significant benefit of accepting crypto payments in business. The rapid cross-border transactions facility of your business can attract new customers worldwide. Crypto payments are instantaneous and require no background verification for transactions. Hence, consumers can easily adopt crypto POS for purchase transactions.
Crypto coins are great for travellers who frequently explore across the globe as they are accepted irrespective of federations and market price. Without background verifications, crypto wallets can be installed and utilized by the investors.
Leading brands such as Amazon, Microsoft, Overstock, Wikipedia and others are accepting popular cryptocurrencies for their merchandise. BitPay, Coingate and Coin Payments render its services to thousands of merchants across the globe. The fiat and crypto payment service providers are working on providing integrated payment solutions to the businesses.
Generation opts for crypto payments!
The younger generation is fond of the digital revolution, and of course, they prompt for transparent, rapid transactions in the industries. Hence, significant industries like e-commerce, healthcare, fintech, gaming have started accepting crypto payments in their POS. Soon, the world will adapt to the digital currencies in tech evolution!