Bitcoin, USDT, and other altcoins are getting more popular. It is not uncommon to see cryptocurrencies as a way to donate, pay for some service, or make a purchase online. Who chooses cryptocurrency for their customers and why?
Сryptocurrency has already taken its rightful place in exchangers, binary options, crowdfunding, charity donations, and some other activities. Let’s look in detail at typical uses of crypto in businesses caused by various reasons.
Non-cash payments have become a crucial part of commerce and developed online trade. Today people can buy anything online from countries they have never been to. However, governmental and financial restrictions caused by recent events in the political arena cannot but influence world economics and international trading relations. It has led to updates e-traders have to make to save their customers. Crypto is added as one of the payment methods in the online stores. And that is understandable since the blockchain is decentralized and independent from the banking system and has the advantage of fiat money. Crypto payment processors create user-friendly plugins for seamless integration with popular website platforms such as Opencart, Woocommerce, etc., and you do not even need to master the work of the blockchain.
Chatbots and messengers
A new trend in e-commerce is chatbots that simplify communication with customers, including the very process of making purchases. No need to pay for web hosting, create a website, or hire a web designer. For example, Telegram is a tool to create a bot that holds a dialogue with several customers simultaneously and 24/7. It is not a big deal to accept cryptocurrency in this messenger if you create a chatbot just by coding a program integrated with a crypto payment processor. The procedure of sales typically consists of several steps:
- A customer connects to the bot,
- A product catalog is unfolded,
- The customer selects an item they want to buy using commands suggested,
- The customer chooses the payment method, for example, Bitcoin,
- The bot creates an invoice for payment,
- When the payment arrives at the merchant’s wallet, the bot gives a message that the product is bought or sent.
Non-material services are essential products not only for e-commerce, like the gaming industry or e-book stores but also for employers who hire remote staff, web developers, marketing specialists, copywriters, advertisement contractors, etc. When you can cooperate with people all over the world using the Internet, it can be hard to keep your international clients or employees due to current banking restrictions and governmental limitations. Cryptocurrency can be an effective solution not only for payments abroad but also as a convenient way for mass payouts available in crypto payment processors that make cryptocurrency more cost-efficient than fiat money transactions.
Charity & Donations
You can collect crowdfunding money or charity donations faster if you accept the necessary sum in Bitcoin aside from fiat money. The advantages of crypto are not only an opportunity to donate from any place in the world but also its rising exchange rate. For example, there is a free special donation widget integrated into your website with handy notifications about payments made.
Gambling businesses and the adult industry are very tricky in terms of taxes, laws, and social taboos in these spheres. Users often want to protect their privacy when paying for such staff and can refuse to deal with projects that reveal their data, e.g., a credit card number. Another obstacle is that in some countries, banks can reject payments from such companies, and it can significantly decrease their client base. Cryptocurrency is a game-changer. Anonymity and security are common concepts for both blockchain and sophisticated industries like the above-mentioned. You do not need to work with banks, make customers disclose information, or think about the reconstruction of your business to meet the law requirements if you integrate crypto acquiring on your portal.
As we can see, cryptocurrency is not only a means to speculate on the Stock Exchange but also an advantageous and secure method to widen your opportunities, keep the business afloat, mitigate risks, hire remote employers, and integrate with new progressive instruments of our perpetually changing world.