Cryptocurrency is undoubtedly the next big phenomenon of the century!
Businesses, in particular, are now rushing to adopt cryptocurrency as part of their mean of payment. With the speed at which enterprises embrace crypto, replacing the fiat currency is on the horizon.
Carl Runefelt is a global crypto leader who has invested in more than 360 crypto startups; he foresees, “We are in a transitionary period going from a fiat-based economy to a crypto-based economy.
If you’re running your business, we’ll lay down some of the primary reasons why you should give the green light to accept crypto as a means of payment.
Here they are:
Businesses Revolve Around User-Experience
Ever visited a website but abandoned it in a few seconds? This is because you experienced a poor user experience. That may be because the website was taking years to load, or maybe it was bombarded with ads.
Likely you wouldn’t visit that site ever again – that’s the damage that poor user experience can do!
When it comes to businesses, imagine a potential buyer lands on your business website. He adds a product to their cart only to get frustrated after finding very few payment options.
You see, when completing a transaction, offering a variety of payment options is critical – one excellent way of providing a quality user experience.
This is where crypto comes into the limelight!
As part of your various payment options, accepting crypto as payments will encourage your buyers to make the purchase from you. And trust us, you wouldn’t be the first one to treat your customers with this.
Paypal, Etsy, and Microsoft have implemented cryptocurrency as a payment option on their e-commerce websites. And this is only the beginning; this trend is spreading like wildfire.
Transaction Fees, Literally Non-Existent
Who wouldn’t love to save a few bucks of their hard-earned money? We know you would!
The magic of crypto lies in its nature of decentralization. Crypto gifts you with zero transaction fee in your business transaction. This means no more third-party involvement in your business who generally leeches on your profits with hefty transaction fees.
Your customers can transfer money from their account to yours without bearing the pain of incurring transaction fees.
The Quicker, the Better
Living in a fast-paced era, time is everything. You want to maximize your business profits and grow your business in the shortest possible time.
The same is true for business transactions. With Bitcoin or other cryptocurrencies, payments are made in a blink of an eye. These transactions are in real-time.
Traditional payment methods are sluggishly slow and may take hours to complete the transfer. And if it’s a weekend, then you’re waiting for a couple of days – no thanks!
And since we are talking about payment methods, it is pertinent to mention Kasta!
Carl Runefelt is also a co-founder of Kasta, who believes Kasta will play a big role in this transition by becoming the new Venmo but working on a global scale. Speaking on his YouTube channel, The Moon, he said, “Kasta is playing a big role in transitioning from fiat currency to digital currency. It looks to attract a wider variety of users by opening the platform to global payments by opening it to a wide variety of financial transaction possibilities. Kasta focuses on international payments, making them convenient and instantaneous, optimized for specific currencies, and offers skewed payments accordingly.”
Come with Invincible Security – Repellent for Fraudsters!
One of the core beliefs on which crypto was born is to prevent fraud. The biggest problem that keeps business owners up all night is the consistent fear of chargebacks.
Your customer made a payment with their credit back and bought your precious products. The next thing you know, they went to their bank and reversed the transaction, slamming you with loss.
That isn’t the case with cryptocurrency. Transactions made in crypto are irreversible, leaving you stress-free from chargeback frauds. Another quite widespread concern but, in reality, is a misconception is that crypto can be hacked.
That cannot be further from the truth.
Carl Runefelt clarifies, “I know that for a fact that you cannot hack Bitcoin. You can hack exchanges which is something different but not Bitcoin. It’s important to understand that you can hack YouTube, you can hack banks, or literally any internet company out there but you cannot hack Bitcoin. This is because the blockchain is very robust.”
Give Your Business a Crypto Boost
The benefits mentioned above of incorporating crypto into your website are just the tip of the iceberg. There are countless other benefits as well.
Jump on the bandwagon because future is all crypto!