While cryptocurrency may appear intimidating, it is simply a type of digital cash. You can use it to make secure online purchases without a credit card or even a bank account. Popular cryptocurrencies include Bitcoin, Ethereum, Bitcoin Cash, Monero, and Litecoin. Many businesses now accept cryptocurrency as payment, making it easier than ever to spend it like cash. Cryptocurrency purchases, investments, and spending will only increase in 2021 and beyond! Bitcoin and other cryptocurrencies have exploded into the mainstream in recent years. Today, you can find many crypto merchant service providers that can help you buy, sell, and trade in cryptocurrencies.
As the number of global online payments continues to rise, an increasing number of businesses are looking to accept Bitcoin and other cryptocurrencies as payment. Therefore, there has been a need for crypto merchant services providers that make the transaction possible.
The Growing Trend of Cryptocurrency
As companies strive to keep up with the crypto revolution, the increasing rate of cryptocurrency adoption has had significant ramifications across many business sectors. Needless to say, as more people choose to buy goods and services online, online payments have grown in popularity. According to market data, the online shopping market alone is expected to reach $4 trillion USD this year. This will bring more cryptocurrency companies into the sector and make global cryptocurrency adoption possible.
As a result, more and more businesses are accepting crypto payments, and crypto payment solutions are more popular than ever because they provide a borderless, transparent, and secure method of payment processing. Using Bitcoin and other cryptocurrencies as a payment method has the following benefits, no matter what business you are in:
- Lower Transaction Costs
Credit card payment companies typically charge a 2–4% fee. Cryptocurrency transactions are much cheaper, with a low flat fee rather than a percentage of the transaction.
- Obtain New Customers
As cryptocurrency grows in popularity, more users want to pay in cryptocurrency and seek out participating businesses. This can bring a business a new influx of clients that it did not previously have.
- Immediately Available
Unlike traditional payments, there are no third parties associated with the transaction. When the payment is successful, the transaction amount is deposited into your wallet and can be accessed immediately. Then, you can turn your cryptos into your favorite fiat currency at the end of each transaction or on a schedule you set yourself.
- Chargeback fraud must be eliminated.
Transactions in cryptocurrency are irreversible. When a customer pays for a product or service, the funds are deposited directly into their bank account. Unlike credit card payments, charges cannot be reversed.
- Secure and safe
Payments are also safer and less likely to be hacked or used in DDoS attacks than traditional payment systems.
With these benefits, there are clear opportunities for any online business, and it’s easy to see why the number of businesses looking to offer cryptocurrency services has risen dramatically. If your company is ready to reap the benefits of accepting cryptocurrency, there are several cryptocurrency payment solution providers who can assist with payment processing. Go Crypto NYC has emerged as a market leader in this space, and it is now a popular and in-demand bitcoin payment gateway. So, if you are looking for crypto merchant services, contact Go Crypto NYC now!