Cryptocurrencies are becoming more and more mainstream. That’s why many have turned to crypto payments instead of time-consuming conventional methods. But, whether to accept crypto or not is a fundamental question you need to answer before accepting crypto currency on your website. The payment solution you choose should perfectly match yours as well as your customer’s requirements.
In this post we’ll tell you all about accepting crypto payments and the basic requirements for you to start to accept cryptocurrency payments and expand your business all the more.
Here are some of the most noted reason why you should start to accept cryptocurrency as a business:
When it comes to payments, transaction fees are the first and foremost factor to pay attention to. Small businesses are taxed almost on every product they provide which can be the reason why they want to get rid of it the most.
In this case if you accept crypto payments it can be financially rewarding to a huge extent. The elimination of third parties is what has decreased the fees in crypto payments. Compared to a debit/credit card or wire transfers it can surprisingly cut the edges on your expenses and help you save more for the rainy day.
A chargeback is a demand by a credit-card provider for a retailer to reclaim the loss on a fraudulent or disputed transaction and can be used as a one-way scam. This can be a huge loss of time and money for businesses.
If you accept crypto payments it can help here too. All transactions made with crypto are irreversible once finalized, unless you have the consent of the merchant. Businesses can eliminate potential fraudulent chargebacks when they accept cryptocurrency payments since there are no higher forces like banks to withdraw the funds.
As a business owner or retailer, perhaps you’ve faced customers who ask to pay in crypto. When you accept cryptocurrency and crypto payments as a business, in fact you open new doors to international customers and those who had payment problems and trust issues.
This can hugely increase your monthly and yearly sales and expand your business ever more globally. Additionally, if you accept crypto payments, it gives your business a young and techy identity who is open to new technology.
One of the boldest features and benefits mentioned for cryptocurrency payments which has grabbed many users attention is its anonymity. Anyone located anywhere in the world can accept crypto payments and other people can pay them without the need to reveal a bulk of private data or personal info.
Even if you choose to accept cryptocurrency payments by using services offered by a payment provider, there is still a lot less data needed than with credit cards or bank transfers.
On the side of the customer, being able to pay in cryptocurrency is an additional way to pay plus it provides an extra layer of protection too. Likewise, if you are a business who is about to accept crypto payments, it can be surprisingly easy for you to accept payments without the need to hire a development team or experts and simply by using the help of a payments provider who can provide you with lots of other additional features too. So you can sit back on your sofa and accept cryptocurrency payments and expand your business at the same time too.
There are many crypto payment processors and tons of other manual ways to accept crypto payments on your website, but remember that the quality always comes first. That's why you need to examine your options prudently and choose the best and most cost-effective options to bring to your customers and increase your sales.
As overwhelming as it may seem, by doing a little bit of research on whether the option is right for your business or the other way around you can win the game.
Choosing a reliable and secure crypto payment gateway is one of the easiest ways to start taking crypto payments on your site. PayPax provides safe and secure means of accepting crypto payments for good reasons. Here are some of them:
The service enables everyone to accept cryptocurrency conveniently. However, convenience always comes with a fee. In that case, PayPax offers competitive fees, updated based on mid-market data. Plus, it’s particularly to your benefit and everything is clear cut. No transparent or hidden fees.
It matters how much fee you are charged with. If you want to minimize your fees to the lowest you can accept Bitcoin as a business since Bitcoin transaction fees are generally very low compared to traditional payment fees.
Dogecoin was initially created for the purpose of payment, that’s why the transaction fees for DOGE are the lowest compared to all other currencies which makes it a good option to accept Dogecoin as a business.
Looking for other alternatives? visit: accept USDT as a business
PayPax takes the privacy of its customers seriously. We retain personal information in an identifiable format only for as long as is necessary to comply with our legal or regulatory obligations and for our business purposes. PayPax keeps this data private and uses extra protecting layers and two step verifications to make sure nothing bad happens to your data or funds.
With different rules throughout the world in terms of cryptocurrency, it’s important to make sure you choose a payment processor that supports the countries you do business with and accept crypto payments for. PayPax provides service in almost all countries around the world and that’s why it does not matter where you or customers are located.
When you accept cryptocurrency payments If a problem with setup or online transfers comes up, you want to be able to speak to someone immediately. In this case, PayPax support system has considered resolving these issues by hiring a technical support service. This service will allow users to report their technical issues via an email or live chat 24/7. Both PayPax participants and non-users of the system may take advantage of the support service.
While some crypto payment processors take three to five days for processing your transaction, payments on PayPax do not take longer than an hour to be done. This has been improved by the help of an online support team and customer service any time of day without any delays.
Here are the basic requirements for you to accept crypto payments on your website:
What you need in the first place to accept crypto payments is a cryptocurrency wallet. A crypto wallet functions pretty much the same as any other real-life wallets but with slight differences. The main and perhaps most obvious difference is the virtuality of a crypto wallet versus your actual leather wallet which can fit perfectly in your pocket.
The other difference is unlike a normal wallet, which can hold actual cash, crypto wallets technically don't store your crypto. Your holdings live on the blockchain, but can only be accessed using a private key. Your keys prove your ownership of your digital money and allow you to make transactions.
If you accept crypto payments on your website you’ll be in need of a reputable and secure payment processor to facilitate the process for you. Different websites will offer various payment solutions or simply let you integrate your own payment methods and bring to your online business.
PayPax offers API, instant payments as well as 24/7 customer support desk for you to easily integrate your payment methods, bring the most cost-effective solutions to your potential customers and expand your business ever more globally.