Accept Stablecoin Payments with Reliable Gateway

As the cryptocurrency field is developing rapidly, more and more innovations are reaching us, crypto enthusiasts and experienced cryptocurrency traders. In this article, we’ll talk about one of the most widely spread and popular types of cryptocurrency–stablecoins–which have become more than just digital money due to their unique features.

What are stablecoins? How can we accept them as a payment form, and what are the benefits? All questions will be answered!

What Are Stablecoins?

Stablecoins are a specific type of cryptocurrency that is directly tied to fiat, commodity, or other crypto assets with a comparable value. Stablecoins are a unique digital currency, as their reliance on an underlying asset as a source of value is significant since it reduces the overall risk that comes with many other cryptocurrencies.

The most common peg that empowers stablecoins is the US dollar. This occurs for the apparent reason that the world economy is no longer dependent on any major currency. Because of the dollar’s position as the global reserve peg, it has a stellar reputation and a trustworthy approach to value estimation. So, the USD-pegged USDT and USDC stablecoins are the most well-liked and popular ones in the cryptocurrency market.

How Does Stablecoin Payment Gateway Work?

To accept stablecoin assets as a business, you’ll certainly need to know all the aspects of the crypto acceptance process. A stablecoin payment gateway is a specific cryptocurrency platform that allows businesses to accept and process payments with different types of stablecoins. It functions as a bridge between traditional financial systems and blockchain-based currencies, specifically stablecoins. Here’s how it typically works:

• Firstly, the payment gateway integrates with e-commerce platforms or merchant websites, allowing them to accept stablecoin payments alongside traditional currencies.

• Then, merchants can select which stablecoins they want to accept (e.g., USDC, Tether, DAI). Most gateways usually support multiple stablecoins, but it will be better to check this point in advance.

• When it comes to payment processing, a customer decides to pay using a stablecoin, and the gateway generates a unique wallet address or QR code for the transaction. Next, the client initiates the payment by sending the stablecoin to the provided address.

• The integrated payment platform monitors the blockchain network for transaction confirmations. Once the transaction is confirmed, the gateway verifies that the correct amount of stablecoin has been received.

• Additionally, a few gateways allow stablecoins to be automatically converted to fiat money. This implies that the stablecoins can be exchanged for local currency and placed into the merchant's bank account as soon as the payment is validated.

Despite all these actions done with gateways, merchants also should carefully view transaction history, analytics, and reports related to their sales in stablecoins in order not to miss some financial issues. Naturally, stablecoin payment gateways provide a seamless way for merchants to accept digital currencies while mitigating some of the risks associated with cryptocurrency volatility and others.

Should You Accept Stablecoin Payments?

Stablecoins act as a popular payment method compared with other cryptocurrencies. Businesses of various niches do not bypass this unique type of crypto and more actively represent the desire to incorporate stablecoins in their payment selection.

Actually, implementing stablecoins as a payment provides customers and businesses themselves with several vital benefits, as mentioned below:

• Worldwide Acceptance and Ease of Use. Stablecoins is a reliable payment option even for those who are not really acquainted with cryptocurrency in general. Nowadays, many people consider stablecoins almost like regular traditional ones due to their transparency and convenient pegging to fiat.

• Best For Business. Broaden the customer base by providing them with more varied payment options. Additionally, accepting stablecoins may greatly attract people who prefer using digital currencies over traditional ones and can position a business as innovative and forward-thinking, appealing to tech-savvy consumers;

• Efficient And Cheap To Acquire. Convenient cryptocurrency payments, which are faster and cheaper to transact, will significantly save your and your client's time, making the payment process more cost-effective and less time-consuming. Moreover, for example, USDT or USDC transactions often come with lower fees compared to traditional payment methods;

So, price stability, reduced transaction costs, access to new markets, enhanced payment opportunities, ease of use, and strong security are just several essential reasons to think of integrating stablecoin payment in your business.

How To Start Accepting Stablecoin Payments?

If you have decided to start accepting payments in stablecoins, then it’s definitely the right choice! To accept stablecoin payments efficiently, you need to follow these simple steps:

• Decide which stablecoin you would like to accept. There are many types of stablecoins, so explore them carefully;

• Choose a reliable crypto platform that supports working with stablecoins, particularly the certain one you would like to work with;

• Create your cryptocurrency wallet, enable 2FA, and pass the KYC procedure to protect yourself and your funds as well;

• Get your crypto wallet address and share it with people who want to send you coins;

• You can also integrate crypto payment gateways into your business’s website or store to accept stablecoin payments from customers;

• Monitor your receivings. In case of strange activity, immediately notify the platform's support.

When choosing the right wallet provider or payment gateway, it is worth paying attention to the proven and popular options that are used by most crypto investors and regular crypto enthusiasts. For example, you can easily accept USDT or USDC with Cryptomus. All that you need to do is described below:

• Sign up for a Cryptomus account if you still don’t have one. You can choose any suitable method of registration: using a phone number, email, or doing it directly via Telegram, Apple ID, Facebook, or by linking an account to your Tonkeeper wallet.

• Once you sign up or log in, you’ll see the Overview section, where you can check your balances on personal, business, and P2P wallets. Choose a desired wallet, depending on your needs and goals.

• If you want to accept stablecoins personally, then go to the Receive section, fill in all the necessary information for making a transaction, find your stablecoin wallet address and share it with a user who wants to send you coins. Then, wait for the funds to be credited to your Cryptomus personal wallet.

• If you want to accept USDT or USDC as a business, then you need to create a Cryptomus business wallet that will definitely be helpful in crypto payment acceptance. Then, integrate the Cryptomus payment gateway into your website using different e-commerce plugins. If everything is set up successfully, now you’re able to accept stablecoins as your preferred cryptocurrency for payments.

• Finally, get your customers into the course of fact that you’re already able to accept stablecoins and educate them to interact with the new payment options correctly. Also, thoroughly check the first test transactions to be sure that all processes work efficiently.

Accepting stablecoins is a perfect way to get your business on a new level and significantly increase its perspectives, as this crypto provides you with affordability, stability, high speed, convenient conversion, etc. Hopefully, this article was handy! Accept cryptocurrency easily for your business prosperity with Cryptomus!