Cryptocurrency has become an integral part of the world financial market. Therefore, there are more and more businesses aimed to diversify their assets by investing in crypto. But how to make this process smooth and more profitable? Fiat to crypto payment gateway can be a great solution.
It allows businesses to be paid in crypto, even if their customers pay in fiat (currency declared by the government, e.g., euro, dollar). In other words, it is a digital bridge that turns fiat payments into cryptocurrency ones.
Why should businesses implement a fiat to crypto payment gateway?
Implementing a fiat to crypto getaway is a modern solution for your company payments. It can also become a great investment since crypto is growing rapidly. Fiat to crypto payment gateway enables a business to withdraw the preferred cryptocurrency. Bitcoin, Ethereum, Dogecoin – you can get them all.
The advantages of cryptocurrency transactions:
- Receiving payments no matter when. Unlike banks, cryptocurrency payments are transferred at any time of the day, any day of the year. Blockchain networks have no public holidays or days off.
- Lower transaction costs and quicker processes. Due to the lack of third parties like banks or other financial institutions, digital assets arrive faster. And no overpaying for overseas transactions.
- Increased privacy. Digital assets are operated via the blockchain network, where each transaction is encrypted via public-key cryptography.
- No reversions. Crypto transactions can’t be charged back. If the payment is confirmed, it’s guaranteed that the assets will stay on your e-wallet.
- Automated, easy, and user-friendly process. Fiat to crypto payment gateway provides reports, so the merchants don’t need to track individual crypto transactions and link them to the customers’ orders.
Fiat to crypto transaction process
So here is the step-by-step explanation of the processing an order with fiat to crypto transaction:
- Customers choose the product item and add it to the cart.
- They make payment in fiat
- A fiat to crypto payment gateway exchanges fiat money into crypto assets and sends them to the merchant’s wallet.
- Merchants get cryptocurrency that can be stored or withdrawn
How to install a fiat to crypto gateway
You can either find a team of developers and create your fiat to crypto getaway from scratch or use a ready-made solution. Both ways are good in terms of functionality, but the first one requires a lot of time and finances. The second, on the other hand, is quicker and cheaper but as effective.
If you want to install a fiat to crypto gateway, you can always contact AB Exchange specialists. They will offer a ready-made and cost-efficient solution that will modernize your business quickly and easily.