Companies that do not accept cryptocurrency as a payment method will quickly be left behind. Consumers are already talking about cryptocurrencies around the world, with current projections of around 300 million users.
As a result, over 2,300 companies in the US alone accept Bitcoin digital currency (BTC). These include Microsoft, which adopted Bitcoin back in 2014; Overstock, an American online retailer that mainly sells furniture and food, is one of the major retailers accepting digital currency. Other companies, such as CheapAir, have emerged to fill certain marketplaces, in this case as a travel agency specializing in cryptocurrency transactions. As a result, the platform has processed 5 million bitcoin transactions so far. Then, payment gateways like CoinsPaid went as far as processing $ 5.35 billion in transactions over the past three years.
Obviously, this growing phenomenon is leaving behind, but this is not the only problem. First, organizations that have taken advantage of this trend in cryptocurrency adoption have reached new target groups that were previously unavailable. Depending on the amounts transferred, you may also be charged a lower transaction fee (or not charged at all).
For companies to take advantage of these trends, a cryptocurrency payment gateway is needed. The portal will help merchants, retailers or other institutions receive payments directly from their customers.
CoinsPaid is an award-winning payment processor that helps businesses accept cryptocurrencies and receive or store equal amounts of fiat currencies for instant deposits. Transaction fees when using the platform are currently around 1.5%, discounted up to $ 50. In addition, customers can access multiple business solutions from an OTC desk and multi-currency wallet.
The platform aims to become a cost-effective solution for companies to start paying with cryptocurrencies and become a gateway itself. In practice, CoinsPaid customers receive a fully supported processor under their own brand, so companies can focus on what they do best – growing their business.
Until this year, CoinsPaid focused exclusively on B2B solutions. Since the majority of CoinsPaid customers are already involved in the world of cryptocurrencies, the payment processor has released a desktop crypto wallet and a mobile version, which are expected to be released in the first quarter of 2022 to support them.
In addition, the platform allows users to take advantage of commission-free instant transactions between all CoinsPaid users with support for over 30 cryptocurrencies and 20 fiat currencies.
Read more about COINSPAID here
CoinsPaid has also released a useful CPD token that can give users rewards for DeFi actions and discounts on platform fees.
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While many companies are familiar with digital currencies, the addition of CoinsPaid services has shown that their adoption is returning to regular users, and a lack of simplicity and understanding of using digital assets stands in the way.
By providing online businesses with a simple processor for digital currency payments, the CoinsPaid team aims to accelerate adoption by making cryptocurrency affordable. But this is only the first step. The second step involved creating a simpler user interface and expanding functionality for consumers to make digital currency more understandable for day-to-day transactions. The team believes that cryptocurrency can be available to everyone, not just experts and avid fans. But for this to be possible, solutions are needed for both companies and ordinary users.