Both large corporations and small businesses around the world are getting disappointed in the traditional financial system. The global pandemic has undermined the stability of national currencies and triggered inflation in all major sectors. For this reason, people started considering cryptocurrency as a more convenient alternative. Can it be useful to your company? Market insights & tips by the Exscudo team will help you answer this question.
Crypto goes mainstream
Until the very fast crypto rise in 2017, few thought of introducing alternative kinds of money on a large scale. But recently, businesses started understanding that traditional banking solutions are not enough to address customers’ ever-growing demands and stay ahead of the competition. This is where crypto processing comes into play.
Quick fact: In October 2021, CoinsPaid crypto processor registered a volume of $824 million – up 400% from January – to reach $4.6 billion overall in 2021. Meanwhile, Exscudo’s exchange volume reached $250 million USD and continues growing.
Even industry giants have realized that the potential of cryptocurrency is nothing to sneeze at. PayPal started testing crypto technologies and introduced digital coins to its platform: Bitcoin and Ethereum can already be used to pay for purchases. Another huge payment company, VISA, announced the creation of its own cryptocurrency software in February 2021. At the end of March 2021, it carried out the first crypto transaction.
The massive adoption of cryptocurrencies triggers the development of the whole cryptoprocessing industry. This trend is developing particularly quickly in iGaming, eSports, and betting platforms. By 2026, the capitalization of iGaming is projected to reach about $160 billion, and crypto transactions will account for about 10% of the market.
Online gaming is only one field where crypto processing can be efficient – and many more use cases can still emerge. According to Exscudo reviews, merchants use crypto payments in eCommerce and even restaurants. Your business could be the next to benefit from the introduction of crypto payments.
5 reasons to add crypto to your arsenal of payment options
Digital currencies are not a luxury but a necessity for businesses that want to develop and scale-up. Here are the major benefits of crypto payments mentioned in Exscudo reviews and users’ feedback about other similar platforms:
- When it comes to traditional banking, an average store or retail chain has to pay a 2-5% acquiring commission. With cryptocurrencies, this percentage can be much lower because processing fees are usually as low as 1%.
- As stated by Exscudo, scam risks are lower for crypto payments than for card transactions. In the former case, your safety depends on the choice of payment processor. But in the latter case, a bank can cancel or block a transaction for no apparent reason.
- iGaing and other projects face so-called chargeback frauds when a user submits a complaint to a payment system or a bank with a request to cancel the payment. With cryptocurrencies, this trick does not work – transactions are irreversible, so no one can take back your hard-earned coins.
- After analyzing user reviews, Exscudo has revealed one thing that’s valued by customers most – the absence of geographical limits. Blockchain technology makes international payments possible without delays and embarrassing fees.
- Last but not least is the high speed of transactions. Unless a blockchain network is congested, cryptocurrencies are transferred from one wallet to another within a couple of minutes on most blockchains.
So while some entrepreneurs think Bitcoin is a scam, Exscudo users are already reaping the benefits of flawless crypto transactions.
People buy – Exscudo delivers their money
Even though many great crypto projects appeared as long ago as in 2017 (like Exscudo ICO did), it is still problematic to accept blockchain payments through existing channels. As it has been revealed by experts from Exscudo, scam risk is not the major factor slowing down massive crypto adoption.
Lack of educational materials and intuitive wallet interfaces is an urgent issue for both businesses and their end-users. Exscudo, EON blockchain-based project, is designed to solve this problem.
This is a crypto & fiat payment provider that supports 60 currencies, including BTC, ETH, USD, EUR and so on. It works with ten different processing systems, such as MasterCard, PayPal, SEPA (for EU residents) and others.
What can users do in Exscudo? Coin swaps in 600+ trading pairs, safe storage of funds and crypto payment processing are just the tip of the iceberg. The list of features includes:
- The FinTap Wallet allows customers to buy, sell and trade crypto. Users can also view some basic analytics – for example, Exscudo coin price movements. Thanks to the proprietary EON blockchain and the latest encryption technology, funds stay safe and secure.
- MultiAcquiring, a crypto-fiat payment gateway that enables offline and online transactions for businesses. Customers can choose how to pay (PayPal, credit cards, crypto, etc), and companies can select how to receive money – it is converted automatically.
- In-built messenger and peer-to-peer transactions with almost non-existent fees.
- White Label and SDK can be used to introduce some of FinTap’s functionality into existing business infrastructure.
With more solutions getting released (like the highly anticipated DeFi tools), Exscudo price and the platform’s user base are expected to multiply. The upcoming shift to decentralization will pave the way for cross-chain payments, crypto arbitrage and even cheaper transactions,
Summing Up
There’s no more need to rely on outdated payment methods when you can have a cheaper and faster solution at your fingertips. With platforms like Exscudo, we can have the best of both worlds – fiat and crypto – and transfer money anytime, to anyone. It’s time to play the game your way!
Image: Pixabay