Bitcoin
How HeroPay helps small businesses accept crypto payments more securely
For small businesses looking to leverage cryptocurrency for practical benefits, platforms like HeroPay provide a simple, secure and cost-effective solution to accept crypto payments. With global reach, flexible settlement options and robust security measures, HeroPay enables small businesses to engage with a growing customer base and manage their finances effectively.
Improved security and cost efficiency
HeroPay offers a secure platform for small businesses to accept cryptocurrency payments. By leveraging blockchain technology and decentralization, crypto payments provide strong protection against hackers and fraud. Additionally, HeroPay’s low transaction fee of 1% is especially lower than traditional credit card processing fees, which range from 2% to 4%. This reduction in fees can greatly benefit small businesses, especially those with high transaction volumes.
For example, 23% of traders have already adopted crypto-native wallets, according to a survey by Pymnts.com. By accepting crypto payments, small businesses can tap into a customer base that is increasingly made up of tech-savvy individuals. A report from CNBC indicates that the average age of cryptocurrency investors is 38 years old, suggesting that this demographic actively seeks out companies that offer cryptocurrencies as a payment option.
Flexible settlement options and broad wallet support
HeroPay supports over 90 wallets, which allows businesses to accept crypto payments across multiple platforms. Funds can be settled in bank accounts in 38 countries, in currencies such as US dollars, euros and pounds sterling. This ensures stability and reduces financial risk. Flexible settlement options are available, allowing businesses to choose between receiving funds in fiat currency, cryptocurrency, or a combination of both. This adaptability simplifies financial planning and liquidity management.
Additionally, HeroPay offers seamless integration, making it possible to accept crypto payments on websites, via email or on mobile phones. This flexibility ensures a smooth payment process, regardless of the platform used by the company or its customers. HeroPay’s global reach further extends to 229 countries and territories, immensely expanding the customer base.
Ease of use and transparent processes
HeroPay ensures ease of use through simple billing and a secure payment process. Customers receive an invoice that details what they are paying, ensuring transparency. Payments are made at a fixed exchange rate, which alleviates concerns about fluctuating cryptocurrency prices. After payment is made, HeroPay converts the funds to the business’s preferred currency, dealing with the complexity of crypto markets.
This HeroPay feature eliminates the need for companies to directly manage cryptocurrencies themselves. The final step involves sending the funds to the company’s bank account on demand, providing control over the receipt of the funds. This ensures that companies maintain control over their liquidity and financial planning.
Real-world applications and emerging trends
An example of a successful implementation is Burger Bear, a London-based restaurant that started accepting Bitcoin and Ethereum in 2021. This move helped them attract younger customers and reduce transaction fees, leading to an increase in crypto-based transactions. This demonstrates the practical benefits for small businesses of adopting cryptographic payments.
Stablecoins, pegged to real-world assets like the US dollar, are gaining traction. By 2024, it is estimated that 70% of crypto transactions will involve stablecoins due to their stability and ease of use. For small businesses, this trend offers a way to mitigate the volatility associated with other cryptocurrencies.
A 2022 Forrester Consulting report states that companies that accept crypto payments experience an increase in spending and customer engagement. The study also highlights that accepting crypto payments can help businesses access new markets, especially in areas with limited traditional banking services.
Books and resources such as “The Bitcoin Standard” by Saifedean Ammous and “Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond” by Chris Burniske and Jack Tatar can provide further insight into the economic and social implications of Bitcoin and strategies for navigating the crypto landscape. .
Accurate information counters myths that crypto payments are mainly used for illicit activities. Research shows that most crypto transactions are legitimate and used for everyday purchases. Traditional companies like Microsoft, AT&T, and Whole Foods now accept crypto payments, further validating this payment method.