Make your crypto business administration easier with better billing tools

@SergeenkovAndrey Sergeenkov

Cryptocurrency analyst. Founder and editor of btcpeers.com

In the current economic landscape, global cryptocurrency adoption is increasing at an ever-increasing pace.

While more developed countries like the United States have doubled that in the timeframe from 2018 to 2019, a group of developing countries are showing an interest in cryptocurrencies and blockchain as strong as never before: quantity of cryptocurrency holders in countries like Nigeria, Vietnam and South Africa now outstrip the US by 3-5 times.

In addition, facilitated by the global health crisis caused by the coronavirus pandemic, the volume of collective monthly cryptocurrency trading has grown to $ 1.2 billion in its peak period – a figure further enhanced by the total value of dollars locked in Defi, which it is currently prohibitively close to $ 5 billion.

On the size of business activities, the adoption of cryptocurrency is methodically transformed into an important source of competitive advantage. With the help of it, a growing number of modern organizations are trying to satisfy the interest of tech-savvy young consumers who are much more inclined towards cryptocurrency assets than fiat.

Through digital money built on blockchain, millennials have the ability to evade the negative consequences of an unfavorable economic climate generated over the centuries and facilitated by the latest COVID-19 epidemic, as well as become participants in the new type of economy built. with the promise of more advanced economic infrastructures with greater opportunities for inclusion in terms of jobs.

Leveraging cryptocurrency for normal business operations itself has an impressive number of benefits. Above all, it lies in a transaction execution that with some cryptocurrencies does not stretch more than a fraction of a second. Thereafter, cryptocurrencies offer lower execution fees and interoperability at the borders, making them a great alternative for conducting international business.

That is why, despite the ever-present element of legal uncertainty, cryptocurrency is considered a new remedy for old problems and is able to give new breath to the business.

Several platforms already exist that provide opportunities for an expanding range of customers to implement cryptocurrency billing as an essential part of their ongoing business activities. Let’s take a deeper look at some of them.

DAOWallet

As an integrated B2B payment solution tool for all types of businesses, it enables you to receive an uninterrupted stream of revenue through recurring payments and to attract new customers through the wide range of supported payment means. To get started on DAOWallet, it is important to issue an invoice in fiat currency. The platform is also generating the link that the customer can follow to see the amount of encryption needed to send to cover the invoice. Once everything is set up and done, the user receives a final deposit amount in fiat currency. DAOWallet allows for the versatility of payment methods, which is particularly crucial for niches such as online shopping used so widely by young people: according to statistics, 57% of users who strongly favor cryptocurrencies are under 34.

Crypto.com Pay

The new Crypto.com App functionality allows for seamless creation and sending of invoices to a customer. While the fiat invoice can be created for free, a buyer will need to offset the requested amount in any cryptocurrency from the list: BTC, ETH, XRP, LTC or CRO. The payment fee waiver is available during the first 6 months. By introducing the billing functionality, Crypto.com aims to attract a growing number of companies interested in free instant transactions that are much more prevalent in the cryptocurrency world today than in a banking sector. Crypto.com recently announced its partnership with Kudelski Security, which is the first sign of a long global path of cryptocurrency adoption.

BitPay

Having established itself in a market since 2011, it has already expanded its customer list to embrace such loud names as Microsoft and Shopify. While providing instant transactions, BitPay also boasts an extensive network of supported countries, where customers receive payments in local currency at the end of the day. Furthermore, this platform protects its clients from market volatility by solving short-term constraints within which the invoice must be validated. Additionally, BitPay combines a credit card offer with a secure wallet for storage. E-mail invoicing is also available.

CoinPayments

This platform delivers on its promise by offering to create an invoice link to customer accounts with a choice of over 1900 altcoins. CoinPayments also performs automatic conversion from fiat to crypto and vice versa, while allowing direct payments to be sent to partner addresses. Furthermore, there is the possibility to integrate the CoinPayments service into the most popular e-commerce sites, such as Shopify, Magento and WooCommerce. The platform also allows you to buy gift cards from the best retailers in various sectors (clothing, entertainment, transport), also integrating the feature of voluntary donation to a cause of choice. Last but not least, CoinPayments offers the opportunity to acquire your own credit card.

Blockonomics

As one of the pioneers in peer-to-peer billing services, Blockonomics currently spans over 300,000 addresses, with 140,000 payments processed and 6,500 invoices created. This platform does not require users to provide sensitive information, has customer support that works 24/7 and culminates with the support of the Segwit protocol.

Furthermore, customers are not even required to register on the platform and only have to type their wallet address in the search bar, which will allow them to already create a P2P invoice with QR code, which will later be sent to the customer.

Conclusion

In the atmosphere where global economic uncertainty is heating up, a growing number of companies are taking an interest in deploying cryptocurrency as part of their daily business operations, in a move that is clearly geared towards mainstream adoption.

This, in turn, has already given birth to a number of essential services such as crypto billing, which will prove indispensable for ongoing business activities in the coming years.

By integrating these tools at an early stage, many forward-thinking companies can count on long-term success, as traditional industries will realize the benefits of crypto too soon and start following the trend.

Disclosure: I am a DAOWallet user, so I have a vested interest in the project.