The last few years have proven that cryptocurrency is here to stay. Thousands of new blockchain projects, whole countries switching to digital assets, and, of course, businesses all over the world accepting crypto payments — that is how popular it got. A couple of years ago, you would not be able to use your Bitcoins to pay at a store or hotel. It was just a distant dream.
Now it is the reality. Small and big businesses worldwide are adapting to the new reality and offering more and more opportunities to their customers. So, if you are still wondering, “How to accept crypto payments as a business?” this article is what you have been looking for.
How Can I Accept Crypto At My Business?
The easiest way to do so is to use a crypto POS terminal. As you may know, regular POS terminals provided by banks are quite common. However, they don’t work with digital currencies. Solutions like Whitepay, on the other hand, offer such an opportunity.
Crypto POS terminals from Whitepay only need a socket and an internet connection. Even though customers pay with cryptocurrencies, sellers receive fiat money in their accounts.
.Businesses can accept payments in BTC, USDT, and many other cryptocurrencies. The is no need to worry about the volatility of digital assets because the system automatically calculates the current crypto-to-fiat rate.
How To Accept Bitcoin Payments As A Business?
When setting up a crypto POS terminal, a seller can choose from many available cryptocurrency options. Bitcoin is one of the most often used digital assets for POS terminals, along with USDT. So choosing BTC for your payments is not a problem.
All the transactions are automatically converted into fiat currency used by the business. Crypto POS terminals are usually updating the rate every 120 seconds, so clients need to keep that in mind when completing transactions.
How To Accept Crypto Payments For Business With Whitepay?
Whitepay is a crypto POS solution for all businesses that want to stay up to date with current technologies. The company offers crypto POS terminals and web pages where every customer can use cryptocurrencies to pay for anything.
The company currently works in Ukraine, Turkey, and UAE, but the list of countries is constantly growing, and you can contact Whitepay to discuss the possibility of entering other markets.
Whitepay crypto POS terminals accept Visa and Mastercard and support NFC technology as well as 3/4G networks or WiFi connection. They use multi-level protection, single-use QR codes, and accept crypto payments all around the world.
Plus, there are no additional fees. The tools offered by Whitepay include financial analysis, reports, billing, balance checkouts, etc. Although the clients are paying in crypto, the reports are in fiat currencies.
At the moment, Whitepay offers POS terminals with such cryptos as BTC, USDT, LTC, ETH, and BCH, as well as five national currencies.
The company comes from Ukraine, which is why they have been helping the country since the full-scale invasion. First, they have created a foundation where everyone can send some help to support the Ukrainian army, civilians, or the Ministry of Health. But it was just the beginning.
After that, the team collaborated with the United24 fund, created by the president of Ukraine, Volodymyr Zelensky. Donations are divided between humanitarian aid, defense, reconstruction, etc. Of course, Ukraine is one of the leaders when it comes to using cryptocurrencies.
However, other countries are starting to understand their benefits too. At the moment, over 80 countries are considering launching their own electronic national currencies.
This is why it is important to incorporate digital currencies into your business as soon as possible. As we all know, bank card payments used to be rare, and now they are everywhere. So hurry up before it happens to crypto payments.
What Does The Payment Process Look Like When Using Whitepay?
- A salesperson chooses “Crypto” as a payment method on the POS terminal by Whitepay.
- If there are multiple networks, a customer needs to choose the one they prefer to use.
- The salesperson then indicates the price in the currency used by the business, and the price in crypto gets calculated automatically.
- The customer needs to agree to the terms and conditions of Whitepay. Meanwhile, the currency rate gets fixed for 120 seconds.
- The customer clicks the Pay button.
- The system will show the client a QR code. After scanning it, they will be redirected to the payment page. They need to log in to their crypto wallet and choose the needed crypto to send the assets using the displayed payment details.
- The customer selects the network and enters the address and sum.
- When all these steps are completed, the transaction status will change from “Waiting for deposit” to “Completed”. The receipt will have a QR code with the confirmation of the transaction in it.
If a client makes a mistake when entering the amount to be paid, they can send the missing amount in a separate transaction.
Accepting Crypto Payments For Business: Benefits
Apart from keeping up with the progress, there are lots of advantages of crypto payments. For example:
- The fees are usually lower. There are no extra third parties involved, which means there is no need to share profits with other people. Some services take fees that are 60-70% smaller than regular.
- They can be used internationally. No matter where your customers are, they can send their payment with no restrictions. This is why so many people from all around the world donated to the needs of Ukraine via Whitepay.
- They are safe. Cryptocurrencies are very protected, they can be stored in cold wallets and checked with AML.
- More anonymity. This goes without saying, in the modern world, clients often prefer staying more anonymous.
- Charge-backs are impossible. Regular bank payments can be reversed, and some clients use this to get stuff for free. Cryptocurrency payments, on the other hand, cannot be reversed. Of course, they can return their purchase, but you won’t be scammed in the process.
As you can see, there are a lot of benefits to using digital currencies as a payment method. If you want to take your business one step further and attract more clients, crypto payments are something you definitely need to pay attention to.
Conclusion
The more ways to pay for goods and services are available to clients, the better. Many people are storing their funds in cryptocurrencies. It can be difficult to use them whenever they want because it can take a reasonable amount of time to exchange crypto for fiat, send it to a bank card and pay with it.
Cryptocurrencies offer a wide range of benefits, including lower fees, no chargebacks, a high level of security, anonymity, and the opportunity to use them anywhere in the world. Crypto payments are a win-win for both parties: sellers and customers.
Businesses all over the world starting to accept digital currencies as a payment method because it opens up a new pool of clients for them. More and more countries are starting to legalize crypto payments, and some even opt to create their own digital assets.
Cryptocurrencies are slowly but surely taking over the world. So if you are still wondering, “How can I accept crypto at my business?”, solutions like Whitepay are perfect for this.
They offer a full package, including invoicing, accepting, and sending crypto payments. Do your own research, choose the company wisely, and enter the crypto era!
Read Also:
