Introducing the Crypto-Friendly Merchants

Only in 2021, 80% of merchants in luxury goods and retail sectors used cryptocurrency for payments. In 2023, this number will multiply, expanding to other sectors, such as healthcare, gaming, and digital media. Of course, it does not mean you should not consider crypto payment gateways for your business if it is outside these sectors. Overall, the tendency is growing for all industries. 

Apart from PayPal, Apple, Google Pay, bank transfers, Amazon Pay, and American Express, those running online stores are given a much wider choice, including crypto payment gateways. 

Persuasive Reasons for Using a Crypto Payment Gateway

Most businesses with crypto payment gateway options have become more responsive to customer needs and preferences and draw new leads in. Additional pros are the following: 

1. Increasing security & preventing stealth. 

Data fraud and security breaches are every online business’ nightmare. However, due to blockchain technology, a crypto payment gateway offers more security thanks to its nature. 

1. Transitioning to quicker and more affordable transactions. 

Payments in many digital currencies can be processed in 2 to 30 minutes, depending on the volume and network speed, as opposed to conventional wire transfers.

1. Going global. 

Virtual money knows no country borders. For instance, transferring funds from Japan to Canada won’t make anyone fret over currency exchange rates or processing time banks require. Adding tools for paying in crypto increases the company’s presence on the global market, thus getting your customers worldwide. 

We can crown the list with acquiring clients, advanced in the sphere, who will contribute to the identity of your e-commerce and its image in the eyes of publicity. 

The Best Cryptocurrency Payment Gateway Options

So, it gets practical. How exactly can you find and select a reliable cryptocurrency payment gateway for payments with digital coins? No hurry is needed when choosing a worthy one. First, study the options most featured by crypto-experiencing companies. For example, you may find a blockchain payment gateway as an excellent option for a commercial platform. 

Choose Your Crypto Payment Processor

While looking for a crypto payment processor that will work best for your business, consider the following factors: 

Crypto tokens supported crypto gateway

As you research and compare one crypto gateway to another, pay attention to what tokens are available for making transfers. The wider this range, the better. Customers will enjoy an extensive choice of widely used coins. 

Stablecoins and the good, old BTC and ETH are excellent tokens to place at clients’ disposal. 

Cryptocurrency merchant services security.

Check certifications: they denote how committed the cryptocurrency merchant services are to aligning with data security and matching high industry standards. 

Integration with your platform. 

This point isn’t less significant. For a crypto payment solution to work with no interruptions and deliver results, it needs to match technically to the platform you are currently using, its extensions, and other components. 

Solve this riddle by reaching out to technical support of a chosen crypto gateway. They will make all tech requirements clear. 

Fees. 

Customers will appreciate it if you think about the costs transactions will take. Implementing a crypto payment processor with fees classified from low to adequate or adopting those that omit some fees (e.g., network fees) would be a great move. 

Scalability to accept crypto payments on website. 

Finally, the tool to accept crypto payments on website should be able to grow with you. It simply means to correspond to the business needs, overall demand, and the amount of sales at each stage of its development. 

It is ideal if the service can scale up when needed and endure higher workloads, providing the same great performance as when the business was just a young startup. 

Businesses mainly use Bitcoin payment gateway.

Last but not least, always remember to test tools. For illustration, conduct sample transactions if you find a suitable Bitcoin payment gateway. This will give you a clear picture of what a customer will experience. 

Summing up

Other companies’ experience is just a tiny part of your search on the way to becoming a crypto payment accepted business. Many other steps must be taken ahead.