One secret of e-commerce businesses that sells the most is the ease of payments. You are more likely to lead your customers to complete a purchase if they experience total ease in making payments, which is possible if you provide a wide variety of options to choose from.
If you haven’t started accepting stablecoins for your business, you are missing out!
You may wonder what stablecoins are. Not to worry; they are not that strange. If you’ve ever heard about Bitcoin, Ethereum, or cryptocurrencies, then you’re a step away from understanding the concept of stablecoins. However, unlike the usual rollercoaster movements of cryptocurrencies, which could see them skyrocketing in a minute and crashing down in the next, stablecoins are different!
So, if you have some reservations about crypto payments because of how they move, stablecoins are just right for you.
In this article, we'll dive deeper into what stablecoins are and why you should accept them for your e-commerce business.
Overview of Stablecoins
Many online shoppers, particularly the younger generation, want to pay with any digital payment option, including gift cards, vouchers, and cryptocurrencies — you just name it!
However, cryptocurrencies are very volatile; Bitcoin could be worth $50,000 right now and fall to $45,000 by the end of the day. However, should this stop you from including crypto on your checkout page? Hell no! And this is where stablecoins come in to save the day.
As the name implies, stablecoins are - stable. While other cryptocurrencies may experience wild price swings that could unsettle you, stablecoins provide stability and value preservation. They achieve this by pegging their value to real-world assets like traditional currencies or commodities. This means that for every stablecoin in circulation, there is a corresponding reserve of real assets backing it up. This clever mechanism helps keep stablecoins steady, even when the rest of the crypto market is acting like a rollercoaster on steroids.
Why You Should Accept Stablecoins For Your E-Commerce Business
First things first, you are doing yourself a huge disservice by not having a crypto payment button, and with stablecoins, you can take your business to the next level. Apart from the benefits mentioned above, below are some reasons why you should consider stablecoins for your e-commerce business.
- Borderless Transactions: Stablecoins, like other cryptocurrencies, transcend geographical boundaries. Hence, if you intend to sell to a global audience, then you’re sitting on a gold mine. Of course, traditional payment methods like PayPal may be restricted in some countries; however, cryptocurrency works in all corners of the world. So, by accepting stablecoins pegged to the dollar or euro, you can easily accept payments without worrying about fluctuating exchange rates, hefty international transaction fees, or the headache of navigating different banking systems.
Want to go global? Stablecoins will get you on the next flight!
- Interoperability: Another perk of stablecoins is their compatibility with existing traditional payment systems. Stablecoins are designed to mirror traditional currencies we are used o; for example, USDT, USDC, and BUSD all connote the U.S. Dollar, and they are directly exchangeable for a dollar bill. Hence, many traditional systems allow you to convert stablecoin payments into your preferred currency without jumping through hoops. Simple, easy, and straightforward without exorbitant fees and zero complications on conversions.
- Speed and Efficiency: Stablecoins, like other crypto transactions, can be processed and settled quickly, with most blockchains confirming transactions within seconds or very few minutes. So, you don’t have to wait for 3-7 working days as common with traditional banks; easy and quick, you can convert your crypto to cash.
So, on one end, your customers experience a smoother checkout process, and on the other end, you experience faster remission, allowing for quicker order fulfillment and improved cash flow.
How To Accept Stablecoins on Your E-Commerce Website
As you already know, accepting stablecoin payments on your website is valuable for your business. Crypto is global, and more consumers have increased awareness than in past years, so it is important.
CCPayment, a crypto payment gateway, allows you to quickly and easily accept USDT, USDC, and BUSD payments on your e-commerce store via API access. To get started, simply follow the steps below.
Create Account: Create an instant account with CCPayment and log in with your new details.
Configure Payment API: After logging in, you will be automatically redirected to your dashboard. From the left panel menu, select “Payment API,” and then follow the steps below:
- Select API configuration
- Input your webhook URL
- If you wish, you may also add a few whitelisted IP addresses to access your payment API.
- For increased security, toggle on the RSA encryption button.
Set up Merchant Preferences: Return to the left panel menu, select “Merchant Settings,” and follow the steps below:
- Upload your business logo, which will be displayed on the payment page.
- Enter a new title for your payment page.
- Select the preferred tokens you intend to accept. There are 45 tokens available. Depending on your needs, you may select only stablecoins or add other regular cryptocurrencies.
If you're ready to elevate your e-commerce business to new heights, it's time to consider stablecoins. This helps you stay ahead of the curve as a pacesetter in your industry, and with this, you can tap into a new customer base, saying goodbye to excessive transaction fees, slow settlement times, and limited payment options.
Also, accepting stablecoin payments will help you tap into a new customer base and benefit from faster and cheaper transaction processing times, helping you to remain competitive and reach new heights of success.
So, take a step toward innovation and growth! Get started with CCPayment today!