Cryptocurrency Payment Gateways: Bridging the Gap Between Digital Currencies and Everyday Purchases
The First Art Newspaper on the Net    Established in 1996 Thursday, November 14, 2024


Cryptocurrency Payment Gateways: Bridging the Gap Between Digital Currencies and Everyday Purchases



Despite the recent sharp drop in cryptocurrency rates, many people see it as a long-term and reliable investment that can bring significant returns. But, people forget about the benefits that lie within the cryptocurrency payment gateway. Let's take a look at the top three benefits of the cryptocurrency payment gateway.

Cryptocurrencies are not subject to inflation
When dealing with cryptocurrencies, many users are simply looking for easy money and do not think about the future prospects of using such money.

But, now there is a large chance for investments in blockchain technologies. Smart contracts are a new level of the decentralised economy that began in the late 20th century. Cryptocurrencies’ future is in the hands of their fans, not in the pockets of those who seek to get quick profit.

For those who haven't realised yet: a new era of real economic freedom is beginning. Digital currencies have a number of important advantages over traditional money and popular assets. Why? And because cryptocurrencies, unlike fiat paper money, are able to solve numerous problems related to the centralisation of financial funds / instruments. There is virtually no inflation in the world of cryptocurrencies.

Lack of boundaries and transparency of actions
Cryptocurrencies can be easily transferred from wallet to wallet and there are no borders for them. For example, while in Thailand, you may work for an American company, in which case it can be very difficult to get money from another country if you rely on regular banks. But, now there is no such problem: cryptocurrencies know no borders and can be transferred from point A to point B in a matter of seconds.

Another positive point is transparency. It is impossible to cheat this system or do something to it without others finding out about it. In other words, in order to make a payment, there is no need to choose the working days/hours of traditional banks.

Almost zero fees
In most cases where you are required to transfer money to a recipient from another country, you will find that cryptocurrency has got you covered. The usual methods of cross-border money transfers are not only costly but also entail an extensive number of formalities. In contrast to using SWIFT or SEPA, everything regarding a cryptocurrency transaction happens almost immediately. As compared to transactions via VISA, some of the digital coins are still slow but currently, many developers are focusing towards solving this issue.

One of the main advantages of cryptocurrencies is that there are almost no or few payment fees compared to other types of financial transactions. Virtual money is not controlled by specific organisations or states, so the rules of its operation are regulated without their interference. Cryptocurrency exchange services charge fees at their discretion, and the user may or may not accept their terms. But the size of commissions is usually at a low level, and in case of disagreement with the terms of some services, there is always an opportunity to find more favourable offers!










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