The decentralized nature of cryptocurrencies, which facilitate global payments without any restrictions, has made them a global appeal for digital transactions and e-shopping. Beyond borderless transactions, cryptocurrencies also offer a higher level of security and encryption than traditional systems, making them a promising alternative for online payments.
As a result, more and more e-commerce platforms are embracing this digital revolution. However, despite the many benefits of crypto payments, the issue of volatility causes skepticism among merchants and shoppers alike.
Volatility can make shoppers hesitate to use these crypto assets for online purchases. The fear of sudden value fluctuations raises concerns about the actual cost of a product or service at the moment of purchase.
However, for every problem, there is a solution, and if you are a merchant looking to accept cryptocurrencies as payment on your e-commerce website, this article will break down two unique methods with which you can do that, providing your shoppers with a seamless and worry-free crypto payment experience.
What are Crypto Payment Gateways, and How Do They Work?
A crypto payment gateway like CCPayment is a technology-based solution that enables merchants to accept cryptocurrencies like Bitcoin, Ethereum, Dogecoin, USDT, etc., as a form of payment for their products or services. It acts as a secure intermediary, handling the transaction process and ensuring the seamless flow of funds from shoppers to merchants. Think of it as the digital equivalent of a traditional point-of-sale (POS) system.
When a shopper selects the cryptocurrency payment option at the checkout page, the crypto payment gateway steps in. It generates a unique payment address for the shopper and calculates the equivalent amount in the chosen cryptocurrency based on the prevailing exchange rate. This real-time conversion makes it easy for shoppers to know the exact amount they need to pay.
Once the payment is initiated, the crypto payment gateway verifies the transaction, ensuring the accuracy of the payment details and the availability of funds. It then securely transfers the cryptocurrency from the shopper's digital wallet to the merchant's wallet and, in some cases, sends them push notifications. This entire process takes place in a matter of seconds, enabling quick and efficient transactions.
The good thing about using crypto payment gateways is that they offer some advantages that you would ordinarily not have access to if you were trying to accept them directly into your personal wallet. For example, integrating the CCPayment API into your checkout page automatically allows you to accept 45+ cryptocurrencies without having to create a separate page for each. This opens up a world of possibilities for shoppers, allowing them to pay with their preferred crypto asset, whether it's Bitcoin, Ethereum, or any other supported cryptocurrency.
Also, crypto payment gateways like CCPayment offer you extra tools like accounting tools, invoices for B2B transactions, temporary locking in exchange rates, and other features that not only enable your shoppers to avoid volatility hassle but also give them an all-round, top-notch experience.
Crypto Payments: How Merchants Can Protect Shoppers from Volatility Concerns
Volatility is an inherent attribute of digital assets, particularly cryptocurrencies; however, it shouldn’t stop you as a merchant from accepting crypto payments. Merchants should understand the need to address shoppers' concerns and provide them with a secure and worry-free payment experience.
With CCPayment, merchants can employ two unique methods to protect shoppers from volatility concerns:
Using Stablecoins for Transactions
Stablecoins are cryptocurrencies that are pegged to a stable asset like fiat currency or commodities, providing stability and eliminating price fluctuations. CCPayment supports a range of stablecoins, including BUSD, USDC, USDT, and DAI, ensuring shoppers can transact using cryptocurrencies with no volatility risks. By opting for stablecoin payments, shoppers can enjoy the benefits of cryptocurrencies while having the reassurance of a stable value throughout the transaction process.
CCPayment's integration of stablecoins enables shoppers to make purchases with confidence, knowing that the value of their chosen stablecoin remains steady. This stability mitigates concerns about sudden price fluctuations, allowing shoppers to have a consistent understanding of the cost of their purchases.
Locking in Exchange Rates for Secure Transactions
Perhaps, your shoppers don’t want to use stablecoins, and they prefer to use their regular BTC, ETH, or other crypto holdings. CCPayment still helps you protect their volatility by implementing a feature that locks in exchange rates for a specific period.
When shoppers confirm the token for payment, CCPayment locks the exchange rate of the transaction for 30 minutes when entering the checkout page. This ensures that the required transaction amount remains fixed, regardless of subsequent fluctuations in cryptocurrency prices. Shoppers can complete the payment within the locked-in rate timeframe, offering them peace of mind and transparency in their transactions.
CCPayment: The Ideal Crypto Payment Gateway for Shoppers
With the ability to mitigate the ugly effects of volatility, CCPayment stands out as the go-to crypto payment gateway for merchants seeking a secure and hassle-free payment experience for their shoppers. Beyond anti-volatility mechanisms, CCPayment can also boast of
- An industry-low 0.03% service fee
- 45+ supported cryptocurrencies, including 5+ stablecoins
- Easy API integration for merchants
- Accounting Tools for efficient business management
Nobody wants to be caught unaware when making online purchases, and that includes your customers. However, by utilizing stablecoins for stable transactions and implementing exchange rate locking, CCPayment ensures that you can confidently convince your shoppers to make crypto payments without worrying about sudden price fluctuations.
So, prepare to say goodbye to volatility concerns and embrace the future of secure and seamless crypto transactions with CCPayment. Sign up on CCPayment today and enjoy the many benefits of crypto payments in your business.