Have we ever thought of summer vacations for the whole world right from home? Corona has gifted us! Let’s all stay home to avoid contact with the environment and let it rest for a while!
The World Health Organization(WHO) is insisting people to avoid contact with objects which are transferred from others. The most important object that is certain in our lives is physical currency notes. Merchants are insisted to prefer digital payments than currency notes in this COVID-19 crisis. Some of the countries have quarantined the currency notes for two weeks and then transfer them for usage, to kill the toxicity of the virus. However, the unexpected, negative crises of “Black Swan” makes the investors shift their funds to stable crypto coins, which is referred to as “Gold-2.0”.
Now, let’s figure out the undeniable reasons to utilize cryptocurrencies(Gold-2.0) for your business!
Undeniable Reasons to use cryptocurrencies
Avoids hidden charges
Fiat transactions incur huge fees on every process. Be it a fee incurred on securing our credit, debit card security charges, internet, merchant, check, minimum balance or any other process, the conventional fiat currencies take off lumps of money from our pocket.
Crypto transactions are completely devoid of central governance. No intermediaries or third-parties take up the maintenance charges or fees for transactions. The community peers verify and approve transactions of crypto coins, and they are rewarded with the native coins for their proof-of-work. Even the best cryptocurrency payment gateways like Bitpay, Coinbase, BitcoinPay take up only 0.5-1% transaction fee, which is negotiable when compared to fiat transaction fees.
Protects Sensitive Information
Fiat payment service providers prompt users with more personal and account information. Maintaining the consumers’ information in a centralized server is hectic, and they are vulnerable to hacks. Crypto transactions are much more simple like POS payments, and it requires only public key of the counterparty’s crypto wallet to perform transactions.
Cryptocurrencies are accepted globally, and there is no need for further currency exchanges. The conventional transaction takes up 5-15 business days to process an international payment. Instead, the cross-border payments are made easier with crypto coins, and it hardly takes a negotiable timeline to complete the process.
Missing our wallets at home does not create a hectic day anymore. Every merchandise can be purchased with our mobile payment apps. The cryptocurrency wallets are built with NFC and POS features to enhance user-friendliness. As the crypto transactions are carried out in the decentralized network, they are much more secure. You can store the accessible amount of crypto coins in mobile wallets and the rest in cold storage wallets like hardware or paper.
The benefits of cryptocurrency payment gateways are extensive for merchants and the service providers. Bitpay, being the leading crypto payment gateway processes transactions worth $1 billion. 50K+ merchants for their payment transactions have integrated Coingate. Leading brands of crypto and fiat payment providers are partnering with each other to provide intense, hybrid payment solutions.
The impacts of Corona Pandemic has made the cryptocurrencies as an evident asset that is stable than other investments like funds, shares, gold and deposits. The world is surprised to see the figures of BTC values as its sustaining around $7K! If you’ve invested in roller coaster volatile investments, it’s a great opportunity to invest in stable crypto coins!