How do crypto payments work (customer’s and merchant’s views)
There is no solution that is equally practical for both sides – such a myth is pretty widespread, penetrating the world of business too. Crypto payments prove that both merchants and customers can enjoy the innovation and experience some revolutionary pros. Let’s look deeper into the process to understand why today’s companies are looking for effective solutions on to how to get crypto payments.
Crypto payments from the viewpoint of a merchant
First and foremost, this payment option essentially broadens your horizons as more than 300 million crypto-holders globally may purchase your goods or services. They need no bank accounts, enjoying the opportunity to buy everything they want in several clicks.
The next beneficial advantage lies in low fees. Business owners are aware they spend a lot on fees and commissions. Even credit/debit cards charge you up to 3%. A crypto payments platform (provider) charges about 0.5%, making this option much better from the viewpoint of a merchant’s profits.
This payment option is irreversible which means a customer cannot cancel a transaction after the confirmation.
What is the principal obstacle for merchants? Most business owners are afraid of volatility, as the market constantly undergoes ups and downs. Such a problem does in reality take place but stablecoins solve it – accept assets pegged to fiat currencies (e.g., USDT). The lack of knowledge is another problem. How to accept crypto payments on website? Reliable providers help merchants integrate this revolutionary option. For instance, B2BinPay enables business owners accept 800+ digital currencies.
Crypto payments from the viewpoint of a customer
For merchants, everything is clear, but what about customers? Are digital currencies embraced by your clients?
Crypto payments make bank accounts useless. Open a crypto wallet, make a deposit, and send your digital currencies to pay for goods and services. Furthermore, no limits are set. Fiat transactions are limited and strictly controlled in most countries, but nothing like this happens in the crypto market.
Smart contracts guarantee that all the conditions are going to be fulfilled. Customers send digital currencies and get goods or services instead. Crypto payments also protect your clients.
Where to integrate the solution
As such, cryptocurrencies as a payment option protect both sides and enable merchants and customers to get considerable profits. The number of crypto payment companies continues to skyrocket but it is still hard to find a provider that meets all your expectations.
B2BinPay makes entry into the crypto world broad enough for all merchants and enterprises to join the fast-growing trend. Qualified specialists connect your website to the processing API, and are responsible for all the settings.
Don’t wait for your competitors to overrun your company. Experience the future today!