Monday, April 15

Good Reasons for Small Businesses to Consider Accepting Cryptocurrency Payment

Since COVID-19, many small businesses that adapted Bitcoin as their payment option survived the lockdown. It is predicted that businesses that will add cryptocurrency payment as a payment option will gain a competitive edge. If you are still skeptical about adapting payment more to cryptocurrency then here are some compelling reasons to accept digital assets as a payment option.

Low transaction fees

Cryptocurrency works on blockchain technology and is a peer-to-peer transaction. The buyer and seller can perform a transaction via a payment gateway processor or crypto wallet. The payment gateway facilitates buying and selling of cryptocurrencies using dollars or euros. Sussie is a digital asset exchange that B2B clients can use as a payment gateway USDT in Malta Fees ExchangeBesides, offering cryptocurrency exchanges to the native currency you can diversify your portfolio and add smart contracts.

Unlike bank transaction charges, the cryptocurrency processing fee is low. This helps your business keep more profit.

New customers are attracted

Digital currency attracts the young generation, which gives your brand a forward-looking image. More people will be interested in spending or trading their cryptocurrency. There are still many businesses trailing behind in adapting cryptocurrency payment and your competitor may be the one. Acceptance of crypto payment exposes your brands before potential clients looking to use cryptocurrency for payment.

Payment acceptance from everyone

You can receive cryptocurrency payments from everyone across the globe. Your online store is reachable to local, national, and people living across the borders. The person needs to have a solid internet connection to make purchases. You can even accept cryptocurrencies from people without credit cards or bank accounts.

Suissebase is a digital bank providing banking services including offline crypto asset storage, high liquidity, strong governance, and devoted customer support. You can accept overseas payments without concerns about complicated credit card chargebacks and currency conversions. Customers like to pay in crypto because of low transaction fees.

Major cryptocurrencies like BTC and ETH are compatible with Ecommerce stores and POS devices. So, the process of accommodating cryptocurrency payment options is manageable.

Low fraud and chargeback risks

You may have experienced or heard about the horrible chargeback stories associated with credit cards. Cryptocurrency transactions once started are irreversible, so the possibility of canceling payment or fraudulent refund cases is nil. Digital currencies lessen the fraud risk for businesses that don’t have time for protection against chargeback scammers.

Trading risk is small

Adding a cryptocurrency payment option to your business reduces the risk factor. For example, a small business accepts BTC as payment in Malta and stores it on the payment gateway exchange account. When the value of BTC increases, you can sell it but if it decreases you will not suffer a loss as it is not yet converted into fiat currency. It is stored on the cryptocurrency exchange.

These are some great reasons to accept the cryptocurrency payment option. However, you need to choose a credible payment gateway like Suissebase. By choosing this, you make it faster, easier, and more secure for clients to make a purchase.