Crypto payments are on the rise. Merchants need to follow contemporary trends
In the year 2015, the number of Bitcoin transactions per day surpassed 80 000, while crypto payments sounded ridiculous for most merchants. The development of digital assets speeds up each year, setting new records, and up-to-date businesses follow recent trends, adding crypto payments to the list of available methods.
Crypto payments to conquer the market
According to CoinDesk statistics, Bitcoin payments reached $1 billion in 2017. Much has since changed. The number of crypto-accepting businesses skyrockets, as merchants understand new economic trends. The average number of crypto transactions used for payments varies from 89 000 to 94 000 per month. Crypto payments brought merchants more than $4 billion in 2020, and Bitcoin still leads the market with 91% of all payments.
Today’s merchants cannot ignore far-reaching perspectives of this sector; hence, the number of BTC-accepting businesses almost doubled in the previous year (94% growth). To accept crypto payments is considered as a synonym to keeping up with the times.
Top-rated companies as driving forces
The largest companies frequently serve as opinion leaders; therefore, such a tendency is mainly explained by world-known corporations, opted to accept crypto payments online. Expedia, Microsoft, Overstock, PayPal, and other corporations are among the most noticeable driving forces of BTC-payments. While talking about the top-10 companies according to market capitalization, 4 accept digital currencies.
Furthermore, the year 2020 changed the market situation upside down, and even the strongest opponents of digital currencies have nothing to do but accept crypto. For instance, PayPal leaders called Bitcoin “the biggest scam in history” in 2018. New tendencies and ongoing financial revolution instilled them an opposite idea, and now PayPal is open for purchasing, selling, and shopping with BTC.
Analytics predict further development of crypto-payments, saying the largest companies are secretly investing in digital assets; hence, the trend is definitely on-ramps.
Why are crypto payments expanding?
The number of evident pros in favor of digital assets is quite large. The following advantages are top-rated: No third parties are involved. A merchant may accept crypto payments on website without dealing with banks and other mediators. This factor makes fees minimum. Digital currencies empower hodlers to transfer Bitcoin or altcoins worldwide within the shortest terms. No limits attached! Most governments limit cash transactions, while digital assets champion holders’ financial freedom, setting no limits. For instance, the largest Bitcoin transaction is 161 500 BTC (about $5.12 billion).
In the search of a perfect crypto payment processor
Merchants need to understand how to accept crypto payments, maximizing their customers’ amount. B2Broker offers the most convenient turnkey solution, enabling merchants to accept payments in 14 liquid digital coins. Furthermore, businesses may decide whether to hold crypto assets on secure wallets or exchange funds in fiat currencies immediately.