Cryptocurrencies are no longer a futuristic concept; it’s a reality. These digital currencies have reshaped the way we make transactions. For businesses, it has opened possibilities to attract a wider audience. A study shows that businesses that accept crypto payments attract 40% of new customers. So, if you want to integrate a crypto payment option into your platform, this article will provide you with the information you need to upgrade your payment system.
Let’s first address a very simple question that merchants often ask us – why should we accept crypto payments? Here’s our response.
Decentralization:
Compared to traditional currency, cryptocurrencies are decentralized. This means it can’t be controlled by a single entity, which reduces the dependency on intermediaries.
Expands customer reach:
These digital currencies can be exchanged easily globally. This enables businesses to tap into the global market without getting bothered by traditional payment limitations.
Makes faster transactions and charges less fees:
Traditional transactions can take days to process and typically charge 3-5% on transactions. Crypto transactions can happen within seconds to minutes and charge 1% or less.
Reduces chargeback risks:
Crypto payments on the blockchain can’t be altered or tampered with, reducing chargeback issues and enhancing operational efficiency compared to disputes that arise in traditional transactions.
Provides efficient security:
Traditional methods are often vulnerable to cyberattacks. In 2023, 80% of organizations experienced payment fraud attacks. Crypto payments require no personal data, which maintains users’ anonymity and reduces the risk of cyberattacks.
Now, these are some of the benefits that attract merchants to accept cryptocurrency payments worldwide.
Let’s see how you can accept it with the best crypto payment gateway.
Steps to accept crypto payments on your platform
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Create your account:
To begin crypto transactions, start by creating your account on the crypto gateway. You can easily sign up without KYC.
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Set up your crypto wallet:
Once you register your account, you need to create your digital wallet for making crypto transactions. All you’ve to do is simply add the necessary details to your account.
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Integrate the payment gateway:
For seamless crypto transactions, the payment gateway offers complete crypto payment API documentation for easy integration. Depending on your platform, you can also install plugins.
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Test the integration:
After the integration is done, test the integration to ensure the functionality of the gateway. Make certain transactions to detect any bugs or errors.
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Start accepting payments:
Once the integration is thoroughly tested, you can enable crypto payment options on your platform and start making crypto transactions.
The best crypto payment gateway for merchants
What separates Coinremitter as a crypto payment platform from other payment platforms is that it provides an easy solution for accepting crypto payments to businesses. Another special aspect is its transaction fees. This platform offers a 0.23% transaction fee, making it an affordable crypto payment gateway. Not only that, it also accepts multiple cryptocurrencies for payments without requiring KYC verification, so that merchants can cater to a global audience.
Conclusion
Accepting cryptocurrency payments can significantly enhance your business’s overall efficiency. However, when it comes to accepting crypto payments, having the right crypto payment gateway can be a difference-maker. That’s why you should carefully evaluate your requirements and then proceed further. Consider Coinremitter for your crypto payment solutions. The platform provides significant benefits that are discussed above, making it a first choice among merchants for secure and seamless crypto transactions.