How to Make The Most of Crypto Payments For Your Company

Many businesses now accept cryptocurrency payments, and we’re not just talking about large corporations. As can be seen from this list, crypto-loving companies now include everything from accounting firms to small local bakers and cafes. That’s hardly surprising when you consider that the benefits of making this move include brand new demographics, easily-reachable global sales, and generally reduced transaction fees. But what if you’re accepting crypto payments right now, and you have yet to feel the benefits?

You’re not alone. After all, crypto acceptance comes alongside some pretty tall promises, which, while entirely achievable, might not happen overnight as you’d hoped. With a major crypto crash also hitting small businesses particularly hard at the end of last year, it’s only natural to feel wary. Luckily, getting smart is often all it takes to make the most of crypto payments for your company. Keep on reading for a few tips to start turning those crypto tides in your favour!

# 1 – Choose Your Crypto Wisely

While the choices of traditional payments broadly end with ‘cash or card’, there are 24,000 cryptocurrencies and counting, all with their own volatilities and benefits. You can’t accept them all, and nor would you want to. Hence, choosing the best kinds of crypto for your business is key.

Stablecoins like USDT and USDC are especially appealing for their certainty. Bitcoin is obviously a very popular choice, though its crash last year has left many companies nervous. Meanwhile, many companies prioritize options like Solana (SOL) for faster, low-cost payments. Simply consider your price points, any industry norms, and also just the crypto that’s most appealing to you.

# 2 – Reduce Volatility Risks

Some businesses may want to enable ‘hands-on’ payments that see cryptocurrencies actually integrated within their treasury. This can prove beneficial as it opens you to potential market rises, but it also leaves you open to losses if you aren’t careful.

For some businesses, navigating this means simply having clear goals for crypto and knowing how to monitor this new currency. It’s also best not to keep too much cryptocurrency in your treasury at one time. Hence, many businesses also choose to invest. However, trading in large amounts of crypto income brings risks of its own, which is why companies that do this may prefer to trade on an otc crypto exchange that makes it easier to rebalance large amounts without moving the market, and with generally less risk.

# 3 – Use Payment Processors

Many companies that do well with cryptocurrency use payment processors like Stripe. That’s because, much like a card machine, these processors are on-hand to simplify crypto transactions by offloading any technical complexities.

These payment processors allow businesses to take a ‘hands-off’ approach, which means that, while they accept crypto payments, the cryptocurrency is never actually on their books. Instead, it’s seamlessly converted into traditional currencies that businesses can then use how they would any other payment, without ever needing to worry.

Crypto can be an undeniable asset to your company. Simply secure the best crypto journey for your business using these top tips.