Stablecoins are fast becoming a popular choice to receive crypto payments on E-commerce websites due to their relative stability and resistance to volatility. One popular stable stablecoin is DAI; pegged to the US dollar, its value is stable and predictable, making it an attractive payment option for e-commerce businesses.
Due to their global appeal and ability to facilitate borderless transactions, cryptocurrencies can potentially revolutionize digital payments. Hence, as a business owner, staying abreast of the available and best options to expand your business via cryptocurrency is important.
In this article, we will explore DAI cryptocurrency, its benefits, and how to integrate DAI payments on your E-commerce website.
What is DAI? Why Merchants Accept DAI as Payment For Their E-commerce Website?
DAI is a stablecoin created by MakerDAO, a decentralized autonomous organization built on the Ethereum blockchain. It is pegged to the US dollar, meaning that the value of 1 DAI is always equivalent to 1 USD. DAI is backed by collateral such as Ethereum, and the supply of DAI is regulated by a smart contract, ensuring its stability.
As a stablecoin free of the usual price fluctuations associated with other cryptocurrencies like Bitcoin, Ethereum, etc., DAI is an attractive payment option for e-commerce businesses, as merchants can be sure of the value received for their goods and services, regardless of market conditions. As mentioned earlier, 1 DAI equals 1 USD whether the market is experiencing a bullish or bearish run; hence, merchants are not bothered by market volatility.
Benefits of Accepting DAI for E-commerce Businesses
- Lower Transaction Fees: DAI and cryptocurrency, in general, are largely cheaper to process than traditional payment options, both on customer and merchant ends. Your customer maybe be able to complete a transaction with just a few cents as transaction fees, while you can process crypto payments for as little as 0.03%. Hence, accepting DAI can help you save money on transaction fees and maximize your revenue.
- Faster and More Secure Transactions: Cryptocurrency transactions are executed on a decentralized peer-to-peer blockchain network, facilitating speed and security. These blockchain networks consist of globally decentralized nodes, making it almost impossible for hackers to compromise the system.
- Access to a Global Customer Base: DAI, like other cryptocurrencies, facilitates borderless transactions; hence, accepting them opens up your business to a global customer base, helping you reach new customers and expand your business.
- Protection Against Volatility: Indeed, Bitcoin, Ethereum, and other cryptocurrencies have the potential to give additional returns from a rise in value; however, they also have the potential to dwindle in value. DAI functions differently; as a stablecoin, its value is stable and equal to the dollar. Hence, you can conduct transactions without worrying about a sharp decline in value.
Integrate Your E-commerce Website Payment Gateway To Start Accepting DAI Payments
As mentioned severally, integrating DAI payments into your E-commerce website is a great way to offer your customers more payment options while embracing the growing popularity of cryptocurrencies. To accept DAI as payment, you need to use a crypto payment gateway service for ease, transparency, automation, and overall convenience.
Crypto payment gateways help businesses seamlessly integrate DAI payments with their existing payment systems, making it easy for customers to pay with DAI. Before choosing your preferred crypto payment gateway, here are some important items to tick on your checklist:
- Cryptocurrencies supported
- Service fees
- Customer support accessibility and more
CCPayment is one such crypto payment gateway service that provides a secure and reliable way to accept cryptocurrency payments on your website. It allows you to accept DAI and 45+ currencies at a paltry service fee of 0.03%. CCPayment boasts of audited multi-layered adaptive security that secures both you and your customers, and of course, our customer care is available 24/7 from anywhere in the world.
To accept DAI payments with CCPayment, all you need to do is log in to your account and configure your payment API to be exported to your website hosting platform. Also, CCPayment allows you to set up several preferences to customize your checkout page while selecting your preferred cryptocurrencies to accept.
All of these can be completed in minutes, and in a breeze, you’ll be ready to accept DAI payments on your website.
DAI, other stablecoins, as well as regular cryptocurrencies offer several benefits for E-commerce businesses, particularly cheaper, faster, and more secure transactions. In addition, cryptocurrency appeals to a global customer base, and DAI, as a stablecoin, is immune to volatility so that merchants can be protected from a devaluation of assets.
CCPayment allows you to accept DAI as payment easily with seamless API integration to your website, allowing you to benefit from its low service fees and wide range of cryptocurrencies supported.
Why wait any further? Start accepting DAI with CCPayment today and expand your business! Learn more