news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

No Result
View All Result
news4global
No Result
View All Result
Home Business

Should Every Business Start Accepting Cryptocurrencies as Payment? What Are the Pros and Cons?

April 22, 2022
Reading Time: 5 mins read
0
Should Every Business Start Accepting Cryptocurrencies as Payment? What Are the Pros and Cons?
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Budget 2023 Expectations Live Updates: Income tax relief sought; Economic Survey 2023 tomorrow

Budget 2023 Expectations Live Updates: Income tax relief sought; Economic Survey 2023 tomorrow

January 30, 2023
Fed governor explains who needs crypto regulation and why demand for it is growing By Cointelegraph

ZigZag Community Rushes Behind ZZ Token: Airdrop Reward By CoinEdition

January 29, 2023

If you have been following cryptocurrency in the news or even heard someone mention Bitcoin in passing, it may seem like a topic purely for computer nerds. While it is true that the technology behind cryptocurrencies plays a large role in the discussion, many of these coins are already taking steps to become more mainstream. The use cases for cryptocurrency are growing rapidly, and most of them involve replacing traditional currencies.

The Price of Cryptocurrency Is Still Volatile

A reason why businesses might be hesitant in accepting crypto is volatility. Cryptocurrencies are new currencies, and their value is extremely volatile. This means that their value can increase or decrease by a large percentage in a short period. This makes it risky for businesses to accept them as payment since their value can change within hours. And since there isn’t enough liquidity to convert cryptocurrency (fiat).

In fact, because of this high volatility risk, some cryptocurrency exchanges don’t even allow users to transfer cryptocurrencies into bank accounts. Or buy crypto with a credit card, due to the price fluctuations they’re known for.

There Are Cryptocurrencies for Everyone

Besides the more well-known currencies, many other cryptocurrencies have different focuses. For example, Litecoin is an alternative to Bitcoin, which has faster transaction times and is easier to mine. Another example is Monero, which handles privacy in a more robust way than Bitcoin by obscuring the amount sent in each transaction and to whom it was sent. It’s been called “crypto for criminals” as a result. There are even cryptocurrencies specifically designed for the IoT (Internet of Things), such as IOTA. 

With all these options out there, it’s clear that cryptocurrency isn’t just some fad or bubble waiting to burst. It has the potential support needed to become a mainstream payment method that will be here for years to come. As businesses begin adopting cryptocurrency payment methods, they’ll enjoy many benefits. These would be increased financial security, lower transaction costs, and chargeback fraud. And finally, the improved accessibility across borders and the improved privacy and anonymity for their customers.

Cryptocurrencies Can Be Hacked, but That Doesn’t Mean Your Money Will Be Stolen

When you hear about hackers stealing cryptocurrencies, you may think that your money could be stolen, too. But when it comes to cryptocurrency, theft, and hacking aren’t the same thing. Hacking happens when someone gains access to an exchange. It is the service that lets users swap traditional currency for cryptocurrency tokens. 

The thief makes off with some of those tokens. Theft happens when someone steals your cryptocurrency wallet or gets your private key. Since hacking can happen on exchanges but not wallets, the best way to avoid money being stolen is by using a wallet that has good security features.

Some wallets have basic security systems like 2-factor authentication (2FA), where you enter a password and then confirm your identity with another piece of information like a code sent to your phone or a fingerprint scan. Other wallets use more sophisticated systems like multi-sig wallets, which require several people to verify transactions before they go through biometric scanning. There instead of typing in a password, you provide biometric data such as fingerprints or retinal scans to identify yourself.

There Are Fewer Transaction Fees With Cryptocurrency

Because cryptocurrency transactions are peer-to-peer, the transaction fees are typically lower than those charged by third parties like banks and credit card companies. Typically, these fees range from 0 to 1%, as opposed to the 3%-5% cut that traditional payment processors take on credit card transactions. PayPal is another option for businesses that want to accept online payments without charging high processing fees. However, this service has a flat fee of 2.9% + $0.30 per transaction, which can quickly add up over time if your business is making many small sales each day. The ability to avoid these processing fees may be a compelling reason for businesses to consider a system where they purchase cryptocurrency and use them for payments.

It’s Easy to Set up a Crypto Payment System

It’s easy to set up a cryptocurrency payment system. There are many companies, such as GoCoin and BitPay, that have payment processors that are compatible with the major cryptocurrencies. You can also use the APIs of Bitcoin, Litecoin, and Ethereum directly to make your integration process easier.

You can also look into using an eCommerce plugin like WooCommerce or Magento, which already has built-in support for accepting cryptocurrency payments. Your customers will be able to buy cryptocurrency, and use them for store purchases on your site. 

Starting to Accept Cryptocurrencies as Payment Is an Easy Decision to Make When You Look at All the Upsides

Accepting cryptocurrencies is the right move if you want to get ahead of your competition and attract the attention of a large number of tech-savvy customers.

When it comes to accepting cryptocurrencies, there are several advantages that you cannot afford to ignore. First, when you accept cryptocurrency, you receive an instant payout as soon as the transaction is confirmed on the Blockchain. 

Second, accepting cryptocurrency does not involve any intermediaries, so both parties receive their funds immediately after the payment is made. Third, accepting cryptocurrency requires no paperwork or approval from a third-party financial institution because all transactions take place directly between two parties on the Blockchain.

Last but not least, accepting cryptocurrency will allow you to stay competitive and up-to-date with the latest technologies, which in turn will help build trust among your customers who are looking for innovative ways to pay online. They want to do so without having to go through long approval processes or waiting times associated with traditional financial institutions like banks or credit card companies.

Share76Tweet47

Related Posts

Budget 2023 Expectations Live Updates: Income tax relief sought; Economic Survey 2023 tomorrow

Budget 2023 Expectations Live Updates: Income tax relief sought; Economic Survey 2023 tomorrow

by admin
January 30, 2023
0

"Post the covid-19 pandemic related lockdowns and restrictions, many companies have now adopted a hybrid working arrangement wherein employees are...

Fed governor explains who needs crypto regulation and why demand for it is growing By Cointelegraph

ZigZag Community Rushes Behind ZZ Token: Airdrop Reward By CoinEdition

by admin
January 29, 2023
0

ZigZag Community Rushes Behind ZZ Token: Airdrop Reward Wu Shuo tweeted mentioning the tweet of Kedar’s tweet regarding the issue...

Bitcoin [BTC] miner to face class action lawsuit… Details inside

Bitcoin [BTC] miner to face class action lawsuit… Details inside

by admin
January 28, 2023
0

Argo Blockchain is facing a class action lawsuit filed by its investors.  The lawsuit accuses the firm of misleading investors...

State crypto commission offers policy recommendations | State news

State crypto commission offers policy recommendations | State news

by admin
January 28, 2023
0

A state task force with the mission to assess state policy regarding cryptocurrencies acknowledges that digital assets “offer material opportunities...

Wyoming crypto bank’s Federal Reserve application denied

Wyoming crypto bank’s Federal Reserve application denied

by admin
January 27, 2023
0

CHEYENNE, Wyo. (AP) — The Federal Reserve Board has denied a Wyoming cryptocurrency bank’s application for Federal Reserve System membership,...

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
HSBC is now ready to venture into the crypto market

HSBC is now ready to venture into the crypto market

February 1, 2023
The good news about the Dow’s drop- POLITICO

K Street’s crypto gold rush continues

February 1, 2023
Crypto lender Celsius propped up its token, benefiting insiders -U.S. bankruptcy examiner

Crypto lender Celsius propped up its token, benefiting insiders -U.S. bankruptcy examiner

January 31, 2023
Treasury reveals ‘world-first’ proposals to regulate cryptocurrency | Science & Tech News

Treasury reveals ‘world-first’ proposals to regulate cryptocurrency | Science & Tech News

January 31, 2023

Latest News

HSBC is now ready to venture into the crypto market

HSBC is now ready to venture into the crypto market

February 1, 2023
The good news about the Dow’s drop- POLITICO

K Street’s crypto gold rush continues

February 1, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global