What Small Businesses Should Know About Cryptocurrency Payment Solutions

Wednesday, September 22nd, 2021

Especially over the past few years, the payments industry has been making big moves and embracing changes. The most significant being digital assets and its transformation of the financial and banking system. 

At first the adoption of cryptocurrency was slow. But over the past year, due to the pandemic and changes to how consumers shop, different ways of integrating these assets in payment systems have been rapidly taking off and gaining more attention. Some business owners are aware of the advantages of cryptocurrency, while others are still unsure of its benefits.

If you’re looking for more information on the best cryptocurrency payment solutions, the following tips will help.

What are Crypto Payment Solutions?

Essentially, crypto payment solutions allow people to buy and transact in cryptocurrency. These seamless payments are made through different secure apps and websites that are capable of being integrated with business. If a business does integrate this technology, its customers can easily transfer funds and vice versa.

There are two services to be aware of: non-custodial services and custodial services. Non-custodial services allow users to fully manage their funds, transactions and key information details. This type is incredibly private and involves a private key consisting of 12-24 characters stored inside the wallet. Custodial services, on the other hand, involve servers that have access to users’ information. 

Which Crypto Payment Solution do Consumers Prefer?

• Atomic Pay is an ideal payment crypto gateway if the user intends to use their funds for shopping in physical stores. This solution caters to seven digital currencies: Bitcoin Cash, Bitcoin, Dash, Litecoin, Dogecoin, Bitcoin Gold, and Stellar (XLM).
• CMM Pay, another non-custodial payment solution, accepts Bitcoin transactions. It features 24-hour customer service, a 1% transaction fee and is quick and easy to set up.
• 8Pay is a crypto payment system that runs on the Ethereum Network and features an on-demand payment gateway between the buyer and seller. It is solely built for smart contracts and only accepts Ethereum, ERC20 tokens and stable coins.

Why Should Your Business Use Crypto Solutions?

If you’re still not convinced crypto payment solutions is right for your business, consider the many benefits:

     1. Lower Transaction Fees. No more endless fees like ATM, checking account, merchant debit/credit card and check fees. Cryptocurrency payments eliminate these fees entirely, only imposing a fee of 0.5 to 1% per transaction.

     2. Track in Real-Time. Quickly and easily see the status of your transactions inside the server when you use crypto payment solutions.

     3. User Friendly and Theft-Proof. The ledger used for crypto payment services automatically runs routine checks. An owner’s funds are checked to ensure transactions are encrypted and tamper-proof.

How to Get Started with Crypto Payments Solutions

If you’re ready to get started and need a provider to partner with, be sure to browse the many reviews and information bestpaymentproviders.com has to offer. Find the right payment provider for your business, one that understands your needs, stays up to date on industry trends and has the reputation your business deserves.