Why Cryptocurrency Payments are Becoming More Popular Globally (Ecommerce and POS devices)

Cryptocurrency payments have started to gain a lot of traction globally for two main reasons:

  • Legitimacy, the Bitcoin network is 13 years old. Every year that it remains operational in its ability to process, execute, and settle transactions with high degrees of security adds to its legitimacy as a useful technology. Younger networks like Ethereum have also gained legitimacy in recent years settling over $8 trillion in value in 2021.
  • Stablecoins, have removed the need to transact in volatile assets like Bitcoin and Ethereum and introduced a reliable, stable means of global payment. Stablecoins represent the best of the traditional finance landscape, a short-term stable US dollar and the efficiencies of the new world of blockchain-enabled payments. Today there is $154 billion in stablecoins issued on various cryptocurrency networks.

Why Would Merchants Offer Cryptocurrency as a Payment Option For Their Clients?

HAYVN Pay allows merchants to seamlessly integrate cryptocurrency as a legitimate form of payment opening themselves to a new, potentially untouched market segment to sell their goods and services to. It does not cost the merchant any fee in order to activate the cryptocurrency payment option through Venue Smart (HAYVN Pay) and once activated, the process is seamless. Merchants are able to receive Fiat (AUD) into any of their local bank accounts when their clients pay with cryptocurrency. Another major benefit to using cryptocurrency as a means of paying is that the payments are instant and not subject to the slow nature of standard bank wire transfers (SWIFT Networks).

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