How to minimize your risks while accepting crypto payments?
As for 2021 crypto payments are not something exceptionally fantastic and strange for consumers, as crypto-friendly companies emerge like mushrooms after the rain. The number of holders is on-ramp as well; this is why the e-commerce sector needs to adjust to new realities. While talking about business owners, they have no idea how to get their feet wet, starting to accept cryptocurrencies. The foremost concern lies in making the procedure in full accordance with the law. Should a business owner dive into the possible risks of crypto payments?
What is a crypto payment gateway?
When a company wants to enter the crypto market, starting to accept digital assets as a payment option, experienced and trustworthy helpers are mandatory. Business owners need to make the crypto processing in accordance with taxation, legal norms, and requirements.
Crypto payment gateways are platforms that enable every company to accept a set of digital currencies. Such a platform is responsible for crypto address generating, payment control, and other stages. Everything sounds simple; meanwhile, business owners are afraid of cryptocurrency risks, while talking about payment options. How to avoid them?
Risks connected with crypto payments
According to business owners’ opinions, the following risks are among the principal ones:
- Volatility. The vast majority of digital assets are volatile; hence they may either rise or fall after the transaction is made. Accept stablecoins backed by fiat currencies or exchange other digital assets to USDT, USDC, and other nonvolatile currencies immediately.
- Diversity of cryptocurrencies. 91.93% of crypto-businesses accept Bitcoin; meanwhile, a successful business owner needs to catch every client; this is why other in-demand cryptocurrencies should be accepted as well. Choose appropriate crypto gateways.
- Regulation peculiarities. When your company has no permission to hold digital assets, apply to a crypto gateway that enables business owners to get fiat currencies automatically on their bank accounts.
This said any risks related to crypto payments imply certain effective solutions that minimize or even remove those risks.
Future horizons of the market
Is it necessary to accept crypto as a payment option right now? Not that much if you want to lose millions of new clients worldwide and prefer stagnancy over progress. Despite the ups and downs of digital assets, the number of crypto-friendly businesses is gradually on the rise.
According to experts, 12% of all businesses are going to accept cryptocurrencies by 2025. Furthermore, digital assets are supported by young generations and their popularity skyrockets. In 2020 the number of companies accepting crypto has increased by 94%. It’s high time to think over your business’s future.
B2BinPay is an effective solution for business owners who want to push their companies forwards to new horizons. The crypto payment gateway empowers businesses with a secure wallet (or automated fiat withdrawal on bank accounts). Furthermore, B2BinPay helps accept more than 800 coins, stablecoins, and tokens. Make a step into the future!
