This blog is all about why you should start accepting cryptocurrencies on your e-commerce site, and how you can start doing.
E-commerce, an online shop that has great potential nowadays, and almost everything is now going online. By adopting cryptocurrency as a payment method can enhance your customers’ experience and expand your consumer by offering them more choices while checkout. To get started, here are a few reasons why you implement this and how to implement this service into your e-commerce business.
Why implement cryptocurrencies as the payment method
E-commerce and cryptocurrencies are complimentary, because as we all know that both lie on the same ground “digital”. The reason why almost everything nowadays is becoming digital is because of the highly growing or developing era of digital consumption.
So, why you should implement cryptocurrencies in your E-commerce business depends on the list of factors.
- Acceptance in the global market
As you start accepting cryptocurrencies, you can broaden your market space and with several people becoming a part of the crypto community it will give them a great opportunity to buy things while paying in crypto coins.
- Fast transaction
Cryptocurrencies have a digital wallet which means you can make a payment without any hassle, unlike paying it with your debit or credit card, by inserting card details, and in some cases, you have to even wait for days to see the payment.
- Biggest perk Low fee
The low fee is one of the most important and best parts of accepting cryptocurrencies, it completely depends on whether you are using a personal digital wallet or a third-party like coinremitter, but in both cases, you will see fee will still be less as compared to the credit card or PayPal.
- More secure and fiat currency
As there is no mediator like a bank and all the payment is untraceable it becomes more secure from any digital fraud.
Now, the question that arises is how you should start accepting cryptocurrencies.
How to implement it in your E-commerce business
There are two ways you can start accepting it is by creating a personal wallet or using any third-party payment processor.
In both cases, transactions will be easy, fast, and secure.
- Personal wallet
If you are thinking to accept cryptocurrencies through your personal digital wallet you can do that by setting up your own personal digital wallet, most of this wallet can be easily downloadable, or you get a hardware wallet which is a physical device where you can store the cryptocurrencies. It is more secure because it can only be accessed by the user’s private key.
- Third-party payment wallet
Third-party payment wallet is also good to use, its process in the same way as any credit card does but every third-party has its extra perk which benefits in one way or another, like for example coinremitter which provides you to integrate their plugins on your e-commerce site very easily, and more crypto-related services.
If you are ready to accept cryptocurrencies, there is also one more biggest benefit of accepting is to hold your cryptocoins for a longer period of time because as we can see that their price is keep rising and will keep on rising.
Imagine if you have held bitcoin since a very long time when its price was about $25000 you would have twice what you had by now. Isn’t it good to accept cryptocurrency for your service or product and also make money while holding it as you do with any other asset.
All these reasons are why you should switch to cryptocurrency, with time their price keeps growing which is one of the perks you’ll get with cryptocurrencies.
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As we all are moving towards the complete digital era where cryptocurrencies are becoming more and more powerful, and implementing them to your e-commerce business will over time benefit your business.
By attracting global community to get indulge in your service or ending up buying products from your e-commerce, and also you can make more money just like you might do with other assets.
With all the facts and ways to implement I believe this will help you start accepting cryptocurrencies as one of the payment methods on your e-commerce site.