Why companies should accept payments in Ethereumsem
Project founder Vitalik Buterin introduced Ethereum in 2015. The project claims to be the safest, most efficient, and widely available currency that allows you to easily transfer and accept crypto payments around the world.
Ethereum is not only a coin, but also an open-source platform. Its network processes thousands of transactions every day. In addition, Ethereum is now preferred by such major business representatives as Dutch Bank, Ubisoft, JP Morgan, and many others. The coin’s market capitalization of 230 billion dollars puts it in second place in the world ranking of cryptocurrencies, giving way only to Bitcoin.
Experts believe that in the future Ethereum (ETH) will become the most important global cryptocurrency after Bitcoin, and they are right – Ether is already gaining active momentum among business representatives. That being said, here are five reasons why you should adopt Ethereum as a payment method, or at least consider doing so:
- Fast Transactions
Ethereum saves time and money because with ETH, transactions are processed within a minute. You no longer have to wait for hours to receive funds into your bank account.
- Access to customers all over the world
Ethereum allows your business to receive orders from other countries without worrying about exchange rates. Likewise, your overseas customers will feel closer to your business if they don’t have to consider the fees associated with currency conversion.
- Cost-effective transaction fees
Ethereum allows you to make more profits because it significantly reduces the transaction costs you incur when dealing with customers. Compared to traditional banks, ETH gives you better transaction terms and lower fees.
- Secure Payments
Ethereum has by far the most secure payment ecosystem in the entire cryptoworld. Its decentralized software has produced a safe and secure payment system for financial transactions around the world. On top of that, Ethereum’s blockchain prevents manipulation and protects the network from incorrect or false information.
- An extra way to pay
There is no such thing as a lot of customers, right? Adding Ether as a payment method expands the reach of your business and allows you to take the benefits of the crypto-world. An additional payment option is unlikely to hurt your company because it benefits your business operations and gives your customers more flexibility.
B2BinPay is known for letting companies around the world send, receive, store, exchange, and accept crypto payments with high security. The company strives to make crypto payments for businesses simple, secure and fast using innovative technologies developed in-house. Their main goal is to give customers access to the most advanced and transparent crypto payment services on the market. If you want to know how to set up a crypto payment gateway, contact the professionals at B2BinPay.
It’s worth noting that there are more entrepreneurs who accept Bitcoin than those who accept Ether. And the reason for this is simple – Ethereum is much younger than the father of cryptocurrencies, Bitcoin. Although the project started in 2014, it didn’t start gaining mass acceptance until 2017. In addition, the Ethereum network is more complex than the Bitcoin network and still requires more testing as well as brand recognition.