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The crypto market has been gaining momentum in recent years. More individuals and companies are embracing this digital currency and thanks to this ever-increasing consumer demand, thousands of companies are now accepting crypto payments.  In this article, we discuss the advantages of crypto payments for your business and why it’s a good idea to integrate this payment option on your website. The growing trend of cryptocurrency in business  For a long time, Bitcoin and other cryptocurrencies were seen as a big gamble and governments warned people to stay away from them as possible. This sentiment has completely changed in recent years and now more and more businesses are enjoying the benefits of digital currencies. In a survey conducted by GoodFirms, 530 businesses were asked about their experiences with cryptocurrencies. A full 89.6% of the businesses stated that cryptocurrencies simplify cross-border transactions, giving them an advantage over their competitors. Additionally, 75% reported that they use cryptocurrencies for everyday payments to speed up transactions. Meanwhile, 54.8% of companies surveyed have adopted crypto payments to access new markets. Reasons to accept cryptocurrencies The success of your business partly depends on the services you offer. Enabling crypto payments on your webshop creates a win-win situation for both you and your clients. Here are some of the key advantages you can enjoy by integrating crypto transactions on your website: 1. Low transaction costs Credit card payments can incur commissions of up to 4%, and international transactions take a percentage off, as well. Cryptocurrencies make short work of that. To illustrate: in November 2024, you can send 30,000 Tether (USDT) for transaction costs of less than 2 dollars. 2. Privacy There is very little privacy when dealing with the banks. Cryptocurrencies, however, shield a large part of that sensitive information. After all, only a transaction number…

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Filed under: News - @ November 28, 2024 7:24 pm