Do you know that there are more than 43 million crypto traders in the whole world? And the surprising fact is- out of this number, 35 percent are Americans, i.e., 15.3 million people. With the increasing numbers of crypto users, most businesses are now accepting this digital currency. If you are also planning to introduce crypto in your business, you need a crypto online payment processor. This online tool helps to keep crypto trading safe, secure and mediator-free.
Keep reading what cryptocurrencies you can introduce in your store for starters and how to choose the best online payment gateway software:
Crypto That Are in Trend:
Bitcoin
When talking about cryptocurrencies, Bitcoin is the first name that comes to mind. It’s the first digital currency that started it all. It’s been in the market for the past eight years with a current market cap of around 600 billion. According to the current Bitcoin stats, there are around 63 million wallet users in the U.S alone. Meaning, introducing this crypto in your business will surely boost your online sales. But how? Let’s explain that to you.
The total population of the United States is 328.2 million. And 19 percent of which are using Bitcoins to trade. Use the demand and supply rule- know what people demand and supply them that. In this case, your customers are demanding Bitcoin trading. And by offering them this payment method, the chances of your business to get more customers increases. Bitcoins are very easy to trade and have no weakness to exploit so far.
Ethereum
Looking for an alternative to Bitcoins? Ethereum is the best available option. It can do everything Bitcoins can. Programmer Vitalik Buterin invented this digital currency in December 2013. The idea behind its invention is to become a platform that can build decentralized applications. After Bitcoin cash and Bitcoins, it’s the third most used and well-known crypto in the U.S. The price of this currency is increasing continuously. Its current market price is around 1,800 U.S. If you start trading in it, you can also get some extra benefits.
Just like Bitcoins, people trading in Ethereum aren’t less. It’s a great and highly profitable strategy to offer people the facility to exchange your products and services with it.
What To Look For In A Cryptocurrency Payment System
If you are shopping for a cryptocurrency payment system for the first time, it’s normal to face difficulties. There are so many such softwares available in the market. To purchase the best online payment gateway, we have some tricks for you. Following is the list of things that you should look for in these types of softwares.
Transaction Fees
With each transaction made from a crypto payment processor, the brand changes an amount as transaction fees. The lower the transaction cost, the better it is for your business. If you choose software that doesn’t charge much payment fees, you save a good amount of money. Generally, vendors charge around 0.5 percent of the total payment cost with an amount less than $1 as interest per transaction. If you do a little market research, you might find one that charges less than that.
Compounding Interest
Some sellers also offer you the advantage of compounding interest. Meaning- with each transaction, you’ll get a specific amount as interest. Generally, the amount of interest varies from seller to seller. The least interest rate you should accept is 15 percent.
Final Words
So this article was about which cryptocurrencies are in the trend that you can introduce in your business, along with some key points to consider when choosing the best online payment gateway software. In the end, if you find this article useful, then do share it with all your friends and acquaintances owning a business.