Why You Should Accept Cryptocurrency in Your eCommerce Store

There must be some real reason why people around the world want to move to cryptocurrency payments. They believe that cryptocurrency payments can save their time and will attract many more benefits.

This may or may not be possible, but that is a topic for another day. Today we are looking at the top reasons why you should accept cryptocurrencies in your eCommerce store.

What is Cryptocurrency?

Cryptocurrency is an encrypted digital currency that can be stored in a digital wallet. A decentralized system is used to maintain a record of all the transactions and issue new units. It is all because there is no central issuer or regulatory authority. Cryptocurrencies are becoming an increasingly popular option for online payments.

There are around 20,000 cryptocurrencies and each of them has its own unique aim. Some of them, like Bitcoin, Ethereum, Tether, and Binance Coin, are well-known to society and attract the largest percentage of users and transactions.

The term "crypto" in the name suggests that all the transaction details are encrypted on the blockchain. Cryptocurrency owners feature digital keys that prove that they own the currency and are also used in making transactions.

Today cryptocurrencies dominate the world. It is becoming increasingly common among payment methods, and you need to pay special attention to using it in your eCommerce business.

Benefits to use Cryptocurrency in eCommerce

For those seeking a quicker, more practical method of paying for products and services, cryptocurrency is a good choice. It's time to start planning to add this payment option to your online store. There are several key reasons to adopt bitcoins as a payment mechanism.

Market Expansion

You can widen your target market by accepting cryptocurrencies as a form of payment in your online store. Making adjustments to your platform so that customers can pay with their cryptocurrency wallets simplifies, accelerates, and increases website traffic.

Robust Security

Cryptocurrencies have no central authority. It demonstrates how secure Bitcoin payments are by allowing users to utilize encrypted wallet addresses to make purchases without having to give their personal information.

Faster Transaction Speed

Instantaneous data processing and quick transaction execution are two of cryptocurrency's most significant benefits. Additionally, the charge for each transaction is lower than, for instance, the fees for services from providers like PayPal or others.

3 ways to accept payments in cryptocurrency on your website

Since cryptocurrencies are making room for themself everywhere, you must learn how to start accepting them in exchange for goods and services.

Microsoft, Overstock, and even Tesla are just a few of the businesses that have begun using bitcoin and other digital currencies. There are many platforms that can assist you in accepting cryptocurrency payments.

BitPay

With as minimum as a 1% transaction fee along with a feature called Zero Price Volatility, BitPay is one of the best solutions for websites that want to accept cryptocurrency payments. Many eCommerce platforms are using this platform to allow businesses to accept cryptocurrency payments.

For your consumers, it offers a selection of payment options, including payment buttons, integrated cash registers, built-in invoices, and a number of plugins and connectors. All of this is simple to manage, so you can start taking Bitcoin payments right now.

Coinbase

One of the greatest places to buy and trade bitcoin and other cryptocurrencies is Coinbase. eCommerce stores can now take Bitcoin payments quickly and easily with Coinbase.

It is a reputed name in the industry and that’s why it guarantees good security. Additionally, this platform is making the process hassle free for both parties by eliminating the obstacles and making the process hassle-free.

GoCoin

Just like BitPay a 1% transaction processing fee is charged by GoCoin. It is a well-known cryptocurrency payment platform that has assisted businesses manage cryptocurrencies for years and is compatible with most eCommerce platforms.

Integration is also easy and not very technical knowledge is required to integrate it into an eCommerce platform.

Meet an Example

One of panKUKU's numerous products, KUKUShop, aims to enhance the cryptocurrency user experience. It belongs to the PanKUKU ecosystem and is a fully functional eCommerce platform. The platform will offer a large selection of goods and virtual gift cards from a number of online retailers, including Amazon, Walmart, Best Buy, Lowe's, and Home Depot.

The panKUKU website will only provide drop shipping as a method of sale for all items featured there. With this, customers will benefit from a convenient and safe way to shop online for their favorite goods with their crypto holding. You can also benefit from the quickest transaction method and cheap shipping by paying using KUKU Tokens, which are its native token.

Conclusion

Whatever your opinions on cryptocurrencies, it is important to consider how they will affect eCommerce because a big part of the population believes that they are the financial system of the future. Whether you want to use cryptocurrencies in your company or not, you need at the very least to be familiar with it. And don’t forget to check KUKU Shop once.