More and more people are starting to invest in cryptocurrencies or have even already invested into it before, it is almost impossible to avoid it. On the news, the boy next door and maybe even your colleague, hairdresser, family: everyone seems to be involved with cryptocurrencies.
Yet in daily life you see only a few people who really use these coins as a means of making payments. Due to the low number of European Businesses that allow crypto payments, humanity will never get used to it. Let’s look into the possibilities of crypto for your local online or offline store and the benefits of it.
Accepting cryptocurrencies has a number of major benefits for your company
For companies that want to increase their reach, they should think about accepting crypto payments. You greatly increase the reach of your store to customers that are used to crypto already. Many payment methods are local, and therefore only available for people with a local base and bank card. Cryptocurrencies are almost worldwide available, people from all over the world can make payments by crypto on your webshop if you have your company set up for this.
Most people who deal with cryptocurrencies are between 18 and 35 years old. In addition, the masses and the holders of this digital cryptocurrency are highly educated. If this is your business goal, then this digital currency is perfect for your business. If not, accepting cryptocurrencies might be a good step to attract this audience.
Accepting cryptocurrencies is also a good example of marketing. For example, companies that accept cryptos can sign up for websites like coinmap.org, a kind of Google Maps with all kinds of companies where you can pay with crypto. In addition, there are many people who specifically go to shops and webshops where they can pay with crypto, giving you extra customers. Many sites where you can buy cryptocurrencies can give you an overview of places where you can pay by bitcoin or maybe even other coins like polkadot.
Another advantage is that you can save transaction costs with cryptocurrencies. Certain payment processors charge a low fee of transaction costs for the entrepreneur. This may not always be cheaper than the traditional way of doing payments, but certainly cheaper than a credit card payment.
Bitcoin payments in your webshop
The world of cryptocurrencies , for example ankr coin, have got the reputation of being very difficult to understand and hard to keep track of the highly volatile stocks. But don’t worry, you don’t have to understand exactly how everything works either. I mean, most people don’t even know exactly how an ATM works. You can choose crypto payment processors that you can integrate into your webshop, just like with normal payments.
Bitcoin payments in your physical store
Cryptocurrencies may be considered as a digital universe with digital coins, but every customer can also pay with crypto money at physical stores. However, this is a little less adopted and used by people than payments by the internet.
As soon as you have created a crypto wallet, the wallet will have a public address similar to your bank account number. You can pass this address on to your clients that need to pay you, so that they know where to transfer their crypto coins. This is certainly a bit more complicated than just a debit card payment, but offering the option certainly doesn’t hurt.