Why Aren't You Accepting Crypto Payments?
Bitcoin. The blockchain. DeFi. We’re hearing a lot about cryptocurrency these days, along with a narrative that it’s set to be the future of money.
And while the possibilities are certainly exciting, there’s a big question mark over how crypto will fit into our lives — and, how merchants will be able to accept it in exchange for what they sell.
The Traditional Barriers of Accepting Cryptocurrency as Payment
Talk to any business owner who hasn’t gotten on board with crypto yet, and chances are, they’ll give you the same three reasons for why they’re hesitant to accept it:
While the benefits of adopting cryptocurrency are plentiful, a large number of merchants have yet to implement it for one main reason: uncertainty. Volatility and the ever-changing regulatory landscape around assets like Bitcoin have made getting widespread buy-in hard, especially from business owners who are already hesitant to invest in new technologies.
Some entrepreneurs fear that accepting cryptocurrency as payment means more legal and tax implications down the road. Others are worried about the inherent risk involved in investing in a new and lesser-tested asset class.
Incompatibility With Existing Business Tools
Cryptocurrency’s advanced nature can be an asset in many ways, but it can also be a hindrance when it comes to compatibility with existing business tools. According to a recent survey by Deloitte, almost 90% of retailers view lack of integration as a key barrier to adoption.
In other words, even if merchants are interested in accepting cryptocurrency, they may not be able to do so because it doesn’t work with the systems they’re already using. This is a particular problem for small businesses that don’t have the resources to invest in new or custom-built tools.
Would you consider yourself an expert on how crypto works? The ins and outs of DeFi? Are you as confident and knowledgeable about Bitcoin as you are the US dollar?
If not, you aren’t alone. Despite having been around for over a decade now, cryptocurrency remains a fairly novel topic to the general public and even most businesses. It’s only been in more recent years that digital assets have gained notoriety, and even now there is a great deal of confusion about what they are and how they work. For many business owners, this presents yet another barrier to entry.
A lack of understanding into any subject matter (crypto or not crypto) equates to hesitation. Without a solid familiarity with the concept, the fact is that many merchants are unwilling to invest time or resources into crypto payments — even if they could be profiting from them in the long run.
CurPay’s Solution: Making Crypto Payment Acceptance Simple
A new era of finance is coming, and virtually inevitable at this point. Cryptocurrency has simply gone too far to suddenly become obsolete — it’s not a question of how but when will it become more widely adopted.
While the conventional challenges of adopting crypto as payment are notable, they are not impossible to overcome. New solutions like CurPay are helping bridge the gap between merchants and the digital world, making it easier than ever for businesses of all sizes to accept cryptocurrency as payment. Here are just a few of the ways how.
As we mentioned before, one of the main reasons businesses have been slow to adopt crypto is because of the volatility that surrounds digital assets. CurPay’s AVP (Automated Volatility Protection) system helps to mitigate this risk by allowing merchants to receive daily settlements in their chosen currency, regardless of how the markets move.
This means that businesses can accept crypto without having to worry about the price crashing overnight and being left with worthless tokens. Instead, they can take advantage of all the benefits that come with using digital assets — including lower fees, faster processing times, and more — without any of the associated risks.
Fast and Efficient Transaction Processing
Another pain point for businesses when it comes to crypto payments is the slow transaction speed that is often associated with digital assets. This can be a particular problem for businesses that rely on fast payments, such as restaurants or retail stores.
CurPay’s gateway is designed for fast and efficient transaction processing, meaning that businesses can receive payments quickly and without any delays.
Another common obstacle facing businesses looking to adopt cryptocurrency is the lack of compatibility with existing tools and systems. CurPay has been designed to work seamlessly with popular POS systems, meaning that merchants can start accepting crypto without having to make any major changes to their infrastructure.
Cryptocurrency is here to stay, and CurPay is making it easier than ever for businesses to start accepting digital assets as payment. With AVP-protected settlements, fast and efficient transaction processing, and seamless integration with existing systems, CurPay is the best solution for businesses looking to get ahead of the curve — no in-depth crypto knowledge required.
With state-of-the-art AI Volatility Protection and everything else you need to customize the perfect trading strategy, CurPay is like having a financial advisor in your corner 24/7. If you are ready to start trading crypto, then be sure to check out CurPay today.