Accepting cryptocurrency payments: why is it profitable for any business?

Every business needs to evolve. And the crypto industry is lending a helping hand by providing better tools for doing business online. One of them is crypto-processing, or a method that allows you to pay for goods and services with cryptocurrency.

However, some business owners are still hesitant or don’t see the point of this tool. Whereas crypto-processing is beneficial for both parties to the sale and purchase transaction. For the buyer, it’s a convenient way to pay, and for the seller, it’s a way to scale their business. 

In this article, we’ve highlighted 5 important benefits of crypto-processing that are beneficial to businesses.

Expanding your customer base

The total number of users in the crypto market today is over 83 million. In comparison, last year there were 75 million users. The number as well as interest in cryptocurrencies continues to grow.

What is the reason for this interest? For example, inflation protection: bitcoin is limited to 21 million coins, while the issue of fiat currencies is unlimited. Some do not trust traditional financial systems, some like the idea of digital money, stablecoins, volatility-independent, confidential transaction and more.

As the benefits of cryptocurrencies attract more and more users, integrating cryptocurrency payments for businesses is a great option to increase your customer base, gain their loyalty and stand out from the competition.

Increasing profits

This method allows you to receive payments from users from all over the world, even where there is no access to banking services. This expands the geography of sales, resulting in increased revenue.

In addition, crypto-processing offer different digital currencies to accept payments and address the volatility of cryptocurrencies. One such crypto-processing tool is 0Xprocessing. It offers over 30 cryptocurrencies with the option to add new ones, and to avoid volatility it uses a hedging feature – instant conversion of cryptocurrencies into stablecoins, which can then be easily converted into fiat currency.

Quality of service

Crypto-processing also helps improve internal business processes and customer service. For example:

• Conducting a cryptocurrency transaction takes anywhere from a couple of seconds to a few minutes. Businesses benefit greatly from this – more orders can be accepted;
• Low fees. The cost of a transfer can be less than a dollar depending on the cryptocurrency network, whereas a single international payment on a traditional system is charged at 10-20%;
• Information about each transaction is stored in a blockchain – it can be used for bookkeeping.

Business readiness for changes in the financial market

There are currently more than 17,000 different digital assets in the crypto market. In addition, some countries are developing more CBDCs – digital national currencies. Their operating principle is similar to Bitcoin technology.

Businesses can easily adapt to the changes and work with any digital currency, including CBDC.

Reducing risk

Crypto-processing is a convenient way to pay for payments that spares merchants from unforeseen circumstances such as transfer rejection, bank account blocking and more.

It secures funds through strong encryption and increases your competitiveness, profits, customer service and customer loyalty. That’s why crypto-processing can bring tremendous business benefits. 

The most reliable and convenient crypto-processing service is 0Xprocessing. It offers its customers a wide range of cryptocurrencies, auto-hedging with guaranteed liquidity, free support and assistance in cryptocurrency payment integration.

The service also allows customers to pay via Web3 wallets and operates on a proprietary blockchain infrastructure that provides transaction security and privacy protection.

0Xprocessing can be contacted:

• At 0xprocessing.com 
• By mail [email protected]