How to accept Ethereum payments
With cryptocurrencies becoming more trendy and mainstream, there are several questions for many companies. Should they accept Bitcoin, Ethereum, or any other crypto as payment? How to do it? In our previous articles, we've told you how to accept Bitcoin payments, and now it is high time for Ethereum.
You can vigorously develop your business and attract new crypto-friendly customers by allowing them to pay for goods and services with ETH. Moreover, Ethereum is considered the second largest digital currency. Secure, fast and transparent transactions make Ethereum payments one of the best payment options. So if you choose to accept Ethereum payments, it's essential to get the proper setup.
What is Ethereum?
Ethereum payment is an option that allows merchants to accept ETH in exchange for goods or services. Ethereum is the second largest cryptocurrency and a platform for developing various decentralized applications (dApps).
If you want to develop your business, enter new markets, attract new audiences and accept payments from anywhere in the world, then allow your current and potential clients to pay with Ethereum or any other crypto.
Advantages of accepting Ethereum payments
Accepting ETH payments assumes significant benefits for your business. Receiving crypto opens new doors for your business and rapid development. Your current customers will be satisfied with new, easy, fast and safe payment methods. Below are the reasons to take this digital currency as a payment option:
Low transaction fees. Ethereum, like most crypto, indeed reduces transaction costs when working with customers. It's a big bonus for merchants.
Business expansion. Accepting ETH payments allows you to attract new customers, a crypto-friendly audience, and enter new markets, as well as accept crypto payments worldwide.
Fast transactions. ETH payments are a high-speed payment option. In general, transaction time takes several minutes.
High security. Ethereum transactions get routed through a smart contract, making any fraudulent activities impossible. Also, ETH transactions are transparent, which gives customers more confidence while making purchases in crypto.
Additional payment method. Providing customers with an extra payment option gives your business an advantage over others. Nowadays, cryptocurrency gains popularity quickly and breaks into our everyday life.
As you can see, integrating Ethereum payments into your business and customers. The more the company provides payment solutions, the faster it develops.
How to accept ethereum payments on my website
We are living in a world that is fast adopting cryptocurrencies, so the number of cryptocurrency holders is growing and they want to use it in everyday life more and more. Online and offline businesses should consider crypto payment implementation.
Tesla, Microsoft, Amazon and Shopify already accept Ethereum payments on their website. These giants are trying to create a modern, innovative brand identity and give their clients more payment options. You can take a cue from these progressive companies and accept ETH payments too.
Of course, companies don't want to spend a lot of time and money creating their payment systems. To make the most out of ETH payments, it is necessary to have additional infrastructure, such as a checkout flow, refund procedures, accounting tools, etc. Therefore, they need to find special third-party services to help them connect cryptocurrency acquiring and accept crypto payments. And that's where payment gateways come in.
Thus, you need to find a trusted and reliable payment gateway, to receive crypto payments or donations on a website. Whitepay is a crypto payment gateway that lets you accept Ethereum payments easily, securely and conveniently.
Whitepay is part of the crypto exchange WhiteBIT ecosystem that introduced cryptocurrency payments for online and offline stores. Whitepay created a platform and POS-terminal (point of sale) that allow you to quickly and efficiently sell or buy cryptocurrency anywhere in the world.
You can quickly create an extensive and complete network of your exchange offices with remote control and track transactions in real-time. In addition, you will be able to pay and accept cryptocurrency, access detailed financial reports, analytics and withdraw funds in national currency.
Due to the Whitepay platform and point of sale terminal, merchants and customers can use more than 130 cryptocurrencies. The plan is to expand the list of supported digital coins in the future.