Most countries have started accepting and legalizing cryptocurency for various purposes. Over 1,000 locations in Solvenia now accept cryptocurrency payments including cafes, restaurants, dentist, hair salons and hotels. Also, over 2,000 Coca-Cola vending machines in Australia and New Zealand have started accepting bitcoin. Beginning in 2021, taxes in the Canton of Zug can be paid using the cryptocurrencies Bitcoin and Ether.
Bitcoin and some other cryptocurriencies have graduated from being a token for investment and specific use cases to a token that is actually spendable. So many stores and merchants now accept cryptocurrency as payment so you no longer have to exchange them to fiat before meeting your needs.
Many companies have benefitted by being early adopters and a status symbol for daring to test the status quo and accept bitcoin and other cryptocurrency as payment. With majority of end users shopping online, it is a smart business move for merchants to turn their attention to the most reliable and trusted payment modes which is cryptocurency payment.
Some major retailers on the list are Microsoft, Overstock, Namecheap, Starbucks, Whole Foods, NewEgg, KFC Canada, Dallas Mavericks, Cheap Air, Twitch etc.
TOP PLUGIN FOR ACCEPTING BITCOIN PAYMENT
If you are planning to integrate cryptocurrency payment on your website, you must have considered several payment gateways available and come across BitPay, CoinBase, CoinPayments and NOWPayments. From a research conducted, NOWPayments stands out as the premium plugin and most effective cryptocurrency payment gateway compared to the rest.
HERE IS WHY;
• Fees: - NOWPayments have volume discounts available, the maximum possible fee is 1%, there is no withdrawal fee, no additional fees and no listing fees. Unlike the unclear fees structure of these other payment gateways, NOWPayments has a transparent structure.
If your monthly asset flow increases up to a certain amount measured in BTC, NOWPayments will be happy to reward you with even smaller fees. If you reach the target volume by the end of the month, you will receive a rebate with the fee difference. Check out the fee guide here
• COINS: - NOWPayments supports over 50 coins which includes Bitcoin, Zcash, Litecoin, Verge, Bitcoin Cash, Tron, GigiByte, Horizen, TrueUSD, EOS, FunFair, Gas, Ethereum, BinanceCoin, Stellar, Dash, Waves, Monero, Neo, MCO, etc. You can find the complete list here NOWPayments has the largest amount of supported coins. Clients are not limited to a certain crypto but have various payment options.
The minimum conversion amount for these coins is 1.5 dollars with an inbuilt exchange. Bitpay minimum amount is not transparent and Coinbase is 10 dollars with an additional 14% fees for coin exchange.
• NON-CUSTODIAL: - Funds go directly to user’s wallet which is faster and more secure with much higher transaction speed.
• FAST SUPPORT: - NOWPayments has 2 support lines and a personal account manager for every merchant which is not available in the other payment gateways.
• EASY INTEGRATION: - It is very easy to set up an account with NOWPayments. It takes up to 15mins and full technical support from the team. NOWPayments also have 8 integration tools which includes invoice option.
• AFFILIATE PROGRAM: - Aside all the other benefits, you can earn from NOWPayments Affiliate program. You can apply and get more info here
CONCLUSION
In few years time, any online business not accepting cryptocurrency as payment will be left behind and perceived as old school. This is the best time to start studying the market to know the best cryptocurrency payment gateway to use and how merchants have been benefitting from it. I advise the use of NOWPayments which is presently the t op and best cryptocurrency gateway to use.