How Do Businesses Accept Crypto Payments?

With the increased prevalence of crypto and blockchain payments globally, it could certainly be immensely valuable for any business to consider the best way to begin accepting crypto payments. According to the most recently available metrics, there are now well over 420 million avid cryptocurrency users worldwide. The number is still growing, and as it does, there are an increasing number of people who are looking to pay bills, make purchases, pay for subscriptions, and do all manner of business with their beloved crypto.

Why Accepting Crypto For Business Is Probably A Good Idea

In the cryptocurrency community, many digital asset traders, and avid digital currency users who transact regularly in crypto, believe in the fundamental advantages which cryptocurrency presents for the future of finance and global business.

This is important for any business owner to comprehend because it helps answer the question of the relevance of crypto and why it may be worth looking into implementing crypto payment solutions into their business ecosystem.

Accepting Crypto Through Active API Connection

A business entity can enable crypto payments through a few different proven methods. One way which a business can accept crypto payments is by API connection, which is essentially a plug-and-play method to connect with technology. The connection then enables the third party platform to be leveraged by a company which benefits from utilizing the technological processes enabled through the Application Programming Interface (API).

The downside of this method is that the business would already need to have an existing platform base to plug the API into and run the existing software in most cases. Even if an extravagant network is not necessary to support a particular API-based solution, the business could still need to either hire a team or individual in order to see to the integration and its ongoing successful implementation. Companies could therefore run into considerable development and/or personnel costs if such pieces are not already in place.

There Are Ways To Start Accepting Crypto Which Are Truly Simple

Now that crypto and the blockchain have been actively used in the public sector for several years at least, it seems that as the tech era continues, seamless methods for accepting crypto for business now exist. Just a few short years ago, these methods did not exist and, moreover, were not even imagined by many. Now, with products like SwapinCollect, merchants, retailers, and all forms of businesses with different models and customer bases can accept crypto quickly, within the same business day upon KYB verification, without the need for any integrations. Upon successful registration, a payment link unique to a business is generated, which can be distributed to customers, enabling businesses to start accepting crypto payments seamlessly.

Accepting Crypto For Business Can Be Simple

Swapin is an active example of how businesses are now able to accept crypto payments. Real estate agents selling houses and taking crypto for payment, jewelry stores selling rings for Bitcoin – you name it, Swapin is powering it.

SwapinCollect allows businesses to accept crypto that converts to fiat and deposits directly into business bank accounts automatically. Moreover, SwapinCollect enables the same business clients to offset the small transaction and payment fees, as they are shouldered by

the payers who are already accustomed to small fees which typically accompany on-chain cryptocurrency transactions.

The Future Of Crypto Payments For Business

It is true that it’s never easy to predict the future of such a nascent asset class with a full degree of certainty. However, based on the past several years, since Bitcoin was first seen in the public sector in 2009, the presence of digital currencies has increased at an exponential rate.

Throughout most of 2022 the crypto market, along with many other global markets including the equities markets, experienced very monumental challenges, as the total combined value of crypto was decreased by more than half at its lowest points.

As crypto seems to not be slowing down in terms of its adoption curve, and definitely not going away any time soon, the time for businesses to look to integrate digital asset payment solutions such as Swapin Collect and platforms like it to accept crypto payments for business is looking like it may very well be now.