In today’s digital world, businesses need to embrace the best crypto payment gateway to accept new forms of payment, such as cryptocurrencies. In fact, many major companies including Coca Cola, Starbucks, Tesla, Norwegian Air, Vueling and many more globally, already accept crypto payments on a large scale.
These gateways are vital tools that enable businesses to accommodate customers wanting to use digital money, and this is why we want you to help to choose the right one for your business. In this article we will take a look at:
- What is a crypto payment gateway?
How do best crypto payment processors connect with your e-commerce platform? - Why is it important to choose the best crypto payment gateway?
- What to consider when choosing the best crypto payment gateway?
- Introduction to Cryptody.
What is a Crypto Payment Gateway?
Simply speaking, a cryptocurrency payment gateway (also called crypto payment processor) is a bridge allowing your business to accept cryptocurrencies like Bitcoin, Ethereum, Litecoin and others as payment for products and services.
When the crypto payment is accepted and processed (with Cryptody, this takes only a few seconds), you can securely keep it on your best crypto payment gateway. Or you can also choose to convert it into FIAT currency such as EUR or USD of your choice and deposit it to your local bank account for withdrawal.
How Crypto Payment Processors Connect with Your E-Commerce Platform?
E-commerce platforms such as WooCommerce and Shopify serve as digital marketplaces where various online shops are hosted, while crypto payment processors act as facilitators enabling customers to use digital currencies for purchases.
When these processors integrate with platforms like WooCommerce, they establish a seamless system that allows customers to make purchases using cryptocurrencies. They act as intermediaries, ensuring that when a customer opts to pay using digital money, the online store can accept and process that payment swiftly and efficiently.
Utilizing WooCommerce crypto payments or shopify crypto payments means opting for transactions using digital currencies rather than traditional money. These payment processors play a pivotal role in enabling stores to accept these digital payments and convert them into preferred currencies, simplifying the process for both buyers and sellers.
Effectively, these payment processors bridge the gap between digital currencies and online stores, transforming digital coins into the currency accepted by the shop. They streamline the transaction process, making it convenient for customers to use their digital assets for online shopping. This enhances accessibility and expands payment options for consumers while benefiting store owners by broadening their customer base.
Find out more tips on how to increase e-commerce sales.
Why is it Important to Choose the Best Crypto Payment Gateway for Your Business?
Choosing the best way to accept digital money, in other words the best crypto payment gateway (or best crypto payment processor), is super important for businesses today. A crypto payment solution helps businesses and customers to use digital currencies for buying and selling things, while also providing a number of benefits, from increasing sales to keeping your and customer’s payments secure.
Getting More Customers
Firstly, using the best crypto payment gateway helps businesses reach more customers. There are over 220 million people worldwide using cryptocurrency, and a study done by Deloitte concluded that 64% of consumers had a significant interest in digital currencies. Hence, installing a crypto payment system allows businesses worldwide to accept these customers and make it easier for them to pay.
Secondly, having the best crypto payment processor makes a business look more competitive and modern. It shows that the business is up-to-date with new technology and attracts people who like to try new things. This can make a business stand out from others and attract more customers. The same study done by Deloitte highlighted that nearly 75% of businesses reported plans to accept cryptocurrency payments in the near future, hence to beat the competition you have to hurry up.
Saving Money on Transaction Fees
Choosing the best crypto payment gateway not only makes transactions easier but also helps businesses save money. Imagine you have a special wallet that magically turns one kind of money into another, helping you spend less while doing the same things. That’s like what a good payment system does — it helps businesses handle and switch from crypto to fiat, making it cheaper for everyone.
To put in perspective, traditional ways of handling money are like using a big, expensive machine to do a simple task. But with a smart payment system, it’s like having a small, efficient tool that does the job just as well, saving you up to 3% from every transaction compared with traditional banks.
We can say that finding the best crypto payment gateway is like finding a magic coin that helps you save money whenever you spend it. The smart system helps businesses and customers use digital money smoothly, making transactions cheaper and everyone happier.
Keeping Payments Safe and Secure
The best crypto payment processors use secure crypto payment solutions based on the cryptographic techniques such as specific encryption protocols and blockchain technology, to keep transactions safe from hackers or other problems.
For eg. with blockchain, once a block is added to the chain (in our case a transaction), it becomes extremely challenging to alter previous transactions, providing an additional layer of protection against fraudulent activities.This makes customers feel safe when they pay, which is really important.
How to Choose the Best Cryptocurrency Payment Processor? 4 Key Factors to Consider
Today there are over 100 crypto payment processors to choose from, making it really difficult to make the best decision. Hence, for any business looking to answer a question “how do I accept crypto payments on my website?”, it is crucial to consider the below 4 factors.
#1. Amount of supported different crypto currencies
It is great if the best crypto payment gateway can handle different types of digital money. Some people like using different digital currencies, so having choices can attract more customers to your website.
For example, Cryptody supports over 70 digital currencies which enables businesses to appeal to diverse customer preferences, expanding their global reach effortlessly.
#2. Easy-to-use system
User experience is key. Imagine a store where everything is arranged neatly, making it simple to find what you need. Similarly, the payment system should be like an easy path with clear signs, making it effortless for both you and your customers.
You want the payment process on your website to be like a friendly guide that shows customers exactly where to click and what to do next. This helps them smoothly complete their purchase without any confusion.
Customers appreciate simplicity. If they encounter complicated steps, they might feel like they’re stuck in a complicated puzzle and will leave without buying anything (it’s just too much effort).
That is why it is important that the payment system is straightforward for everyone. When it is simple and clear, customers feel confident and happy, knowing they can quickly and easily complete their transactions. Also, it makes sure your customers have a smooth and stress-free payment experience on your website!
#3. Helpful and responsive customer service
Good customer support plays a pivotal role in resolving issues and making the payment process hassle-free for both you and your customer.
Customer service acts as a safety net, ready to provide solutions and guidance during challenging moments. It ensures that any obstacles faced during transactions can be swiftly addressed.
In the world of digital transactions, the importance of responsive customer support cannot be overstated. The best FIAT to crypto payment gateway, backed by reliable customer service, ensures that any hurdles encountered in converting between regular money and digital currency can be efficiently resolved.
#4. Responsiveness to changes and crypto regulations
Things and regulations in the crypto world change fast, hence one of the most important things is to ensure that the top crypto payment processor is ahead of those changes.
One of the regulations worth mentioning is the Markets in Crypto-Assets (MiCA), which brings a significant step toward the harmonization of cryptocurrency regulation at the EU level. According to Patrick Stillman, Financial Crime Analyst at Capgemini, “The new rules will help businesses better protect their assets — as well as those of customers and investors”.
Keeping an eye on the regulatory landscape and upcoming changes in the crypto world, next to listening to our customers’ needs, is exactly what we strive for Cryptody – your top crypto payment gateway in 2024.
Introduction to Cryptody - the Best Crypto Payment Gateway Provider
Choosing Cryptody as your crypto payment partner can transform how you do business. It lets you easily take payments in digital money for what you sell, and you get your money quickly in your own currency straight to your bank. This not only makes payments simple but also helps your business grow around the world.
Cryptody lets you accept more than 70 different digital currencies and supports over 180 countries where people can buy from you. It is easy to set up and it works smoothly for both you and your customers, making payments easier.
The best part about Cryptody is that you can see all transactions in your crypto wallet within seconds, and you can settle them to FIAT anywhere from 8 to 24 hours, depending on the size of transaction. Getting your money quickly means you can manage your business finances better and invest in new stock or technology that helps your business grow even faster!
No doubt Cryptody is a great friend for your business in the world of digital money. Using it means you can take payments from all over the world easily, making things simpler for you and your customers. Simple setup, acceptance of various digital currencies, worldwide accessibility, and super-fast payments make it an excellent choice for helping your business thrive in the digital world.
Don’t wait and get in touch with us to start using Cryptody!
