Cryptocurrencies have risen in popularity in recent years, with assets like Bitcoin, Ethereum, Polkadot, and Litecoin all seeing significant growth. As a result, it’s no surprise that many of the world’s greatest corporations have begun to accept cryptocurrency as a form of payment for goods and services. In 2021, AT&T, the Dallas Mavericks, Microsoft, Overstock, Tesla, and Twitch, among others, will accept Bitcoin and other digital currencies.
Small companies may potentially benefit from the cryptocurrency trend by accepting digital payments through online payment processors.
BitPay, located in Atlanta, is one of the largest firms in the world that allows businesses to accept cryptocurrency as payment. Various technologies, such as hosted checkout, payment buttons, invoicing, and Quickbooks and Shopify connections, are available to make receiving crypto payments straightforward.
Customers can make payments online, by email, or in person. BitPay also protects companies from crypto price swings, which is a useful feature. On practically all transactions, the firm levies a 1% transaction fee and allows clients to settle in local currency cryptocurrencies.
Based in Silicon Valley CoinBase is perhaps best known for being one of the most popular exchanges for buying and selling Bitcoin and other cryptocurrencies. It does, however, have a Commerce solution that makes accepting digital payments easier for businesses. The company includes all of the necessary tools for any business that wants to take cryptocurrency payments, such as hosted checkout pages, payment buttons, invoicing, and e-commerce interfaces with Shopify and WooCommerce.
Unlike comparable services, however, CoinBase Commerce encourages businesses to “be their own bank,” and the platform allows them granular asset ownership.
CoinPayments, one of the oldest cryptocurrency payment systems, has been assisting businesses all around the world since 2013. CoinPayments is a payment processor that accepts a variety of cryptocurrencies for both in-person and online transactions. Magento, Shopify, OpenCart, and WooCommerce are just a few of the e-commerce platforms supported by the company’s plugins. It also provides a lot of bang for your digital dollars, with a processing cost of only 0.5 percent.
PayPal, one of the world’s leading online payment businesses, has announced that customers would be able to pay PayPal merchants in cryptocurrency. PayPal is used by more than 29 million online retailers, so this new move will make accepting cryptocurrency payments much easier.
When checking out with an established PayPal merchant, customers with PayPal wallets will be able to convert Bitcoin, Bitcoin Cash, Ether, and Litecoin into fiat currencies such as dollars and euros. This implies that while you won’t be able to take crypto directly as a merchant, it will at least allow more individuals to purchase your goods and services using Bitcoin or other digital currencies.