Why We Are Accepting BTC And Other Cryptocurrencies Payments
1. Faster Transaction
Compared to traditional transfer methods where more time is needed for middlemen to process transactions, crypto eliminates such intermediaries and enables transactions to take a fraction of that time.
2. Safer payments
Unlike bank transactions, crypto transactions are irreversible, which protects businesses from chargeback frauds. Typically executed by centralized institutions with the power to reverse transactions, chargebacks can be malicious when customers request for refunds after they have successfully received their goods or services. Unfortunately, small businesses are often the target of chargeback frauds. Crypto payment service providers like Binance Pay help prevent chargeback fraud, protecting merchants and ensuring that they are not put in a disadvantageous position when doing business.
All transactions are recorded on the blockchain, which is a public ledger that is replicated across thousands of computers. This makes it very difficult to alter or tamper with past transactions, and ensures that the funds cannot be spent twice. Additionally, many people use hardware wallets to store their private keys, which provides an additional layer of security. We like to think of us as a modern, forward-thinking company. In addition, we aim to enhance our customers’ payment experience.
4. Better Flexibility
With the rise of online shopping and mobile payments, integrating crypto will help businesses and customers to better connect. Providing an additional option for transactions offers your customers more flexibility in payment, ensuring that you don’t lose any potential sales with a narrow range of payment options. Furthermore, shoppers can easily scan and pay via your shop’s QR code, allowing you to provide a superior customer experience.