Crypto payments as a trend: who’s added the option in 2021?
According to Coinflip, the overall number of crypto-accepting companies reached 23 600 in September 2021. Since the beginning of 2020, this number skyrocketed by 277% as business owners become more aware that crypto payments unlock new opportunities for them.
As of 2020, merchants accepting digital currencies earned $9.4 billion. An average crypto-friendly company got $552 941 worth in Bitcoin and other digital assets. What’s even more important – the crypto market has skyrocketed by 1107%, and those business owners who prefer holding over withdrawal multiplied their profits.
Cryptocurrency digital payments are a brand new opportunity for merchants and enterprises, hence the list of crypto-friendly businesses also includes giant corporations.
Companies that have joined the industry in 2021
Elon Musk and his company Tesla has been headline crypto news for several months. In April 2021, Tesla officially started to accept crypto payments. At present, holders may purchase electric vehicles in BTC only.
The summer of 2021 brought some more exciting news for crypto holders. The Pavilions Hotels & Resorts that includes hotels in more than 14 countries have added the crypto payment option as well – as well as Bitcoin, travelers may use 40 more digital assets. Xiaomi, a world-known manufacturer of consumer electronics, unlocked crypto payments for Portuguese clients.
September welcomed two more giant crypto-supportive corporations – AMC, a theater chain added BTC payments and is now thinking over some more digital currencies, while the NYC-based largest real estate company, Magnum, joined the “light side” as well.
In terms of rumors concerning acceptance of crypto, the community expects to find Amazon and Walmart among those accepting crypto in their businesses. Giant corporations are aware that crypto coin payments are not just another innovation – such a solution actually enables business owners to reach new highs.
Crypto payments are a breath of fresh air for small and medium businesses
A recent survey has disclosed that 36% of US small and medium-sized businesses have already added a Bitcoin payment option. This innovation serves as a powerful boost for merchants who get an opportunity to overrun their competitors. Imagine that your target audience has suddenly skyrocketed by 300 million clients (that is the number of crypto holders globally).
Furthermore, crypto payments are a double opportunity for a business owner. On the one hand, you get an extended customer base and more sales, while on the other, merchants easily access an investment instrument that brings more gains than stocks, gold, and other investment options.
B2BinPay: just do it!
How to accept crypto payments as a business? Merchants frequently think over multiple aspects and can be afraid of innovation but there is a solution that pushes all risks aside. This solution connects your website to crypto payment APIs, making the whole process safe and straightforward for customers.
As for merchants, there are two possible options. Business owners may convert cryptocurrencies into fiat money right after a customer has sent them, or receive digital assets on a secure multifunctional wallet and then decide what to do with BTC, ETH, USDT, and other coins, stablecoins, or tokens (B2BinPay processes payments in 800+ digital currencies).