A new generation of creators, charities, and merchants will be introduced to Web3 payment methods by NOWPayments, an all-in-one solution for processing cryptocurrency payments.
Why is NOWPayments’ payment acceptance platform for Bitcoin (BTC) and other cryptocurrencies important for businesses, artists, and non-profits?
What makes the payment solution that NOWPayments created for Bitcoin (BTC) and other cryptocurrencies so important for artists, retailers, and non-profit organizations?
With its innovative approach to processing cryptocurrency payments, the NOWPayments platform was established by a formidable group of blockchain experts. With its multi-currency support tools and crypto-to-fiat paygates, it is expected to provide Web3 technology to thousands of businesses, including e-commerce sites, charitable organizations, and streamers.
What distinguishes NOWPayments’ USP, and why is it still applicable in 2023?
- Any website may begin taking cryptocurrency as standard payment methods using NOWPayments;
- No technical knowledge or blockchain expertise is required to integrate NOWPayments; non-tech users may easily add a module;
- More than 150 cryptocurrencies are supported by the site, ranging from well-known ones like Bitcoin, Ethereum, and Tether US dollars to unique ones like FIRO, ZEN, and XVG;
- With the fastest processing times, lowest costs, and a flexible minimum/maximum withdrawal policy, NOWPayments operates;
- All of the main e-commerce systems, such as WooCommerce, Shopify, OpenCart, and others, are easily compatible with NOWPayments;
- Payouts to contributors can also be made using the NOWPayments platform, which uses a smooth crypto-to-fiat paygate provided by NOWPayments’ parent firm, ChangeNOW.
- Clients of NOWPayments are able to withdraw all of their money directly into their bank accounts.
Crypto fans may earn while utilizing NOWPayments by signing up for their multi-level affiliate program.
Why is it crucial that companies take cryptocurrency?
Three main factors are driving businesses to begin accepting cryptocurrency. First of all, it enables companies to boost operational turnover as customers are attracted to make purchases right away by such a striking new payment method. Among Internet users who are the most influential and economically engaged, paying with cryptocurrency is becoming more and more common.
Then, by taking bitcoin, a company, artist, or non-profit organization can simplify its accounting processes: in certain regions, cryptocurrency activities can bypass tax laws (usually at reduced tax rates), but cryptocurrency payments are still untaxed in most nations.
Businesses may extend their services to new markets and dramatically increase their exposure by integrating cryptocurrency payments, even in “unbanked” areas with underdeveloped financial infrastructure. Finally, as the global cryptocurrency community is expanding daily, the choice to begin accepting cryptocurrencies is expected to raise a brand’s profile across different user demographics.
What are the main obstacles for organizations accepting crypto?
In the meantime, there are obstacles unique to the adoption of retail bitcoin payments. In order to integrate the first generation of crypto-to-fiat paygates, a team requires blockchain engineers and complex software. Additionally, the process of converting cryptocurrency to fiat can occasionally be rather difficult. For example, even if the team is successful in setting up the cryptocurrency paygate, moving the cryptocurrency to bank accounts may be difficult.
Which cryptocurrencies are the most popular for B2B and B2C payments?
The retail payments market is dominated by three categories of cryptocurrencies. The first category consists of popular stablecoins, or virtual currencies linked to the euro or the US dollar. The most widely used stablecoins for payments are usually US dollars Tether (USDT) and USD Coin (USDC), however in 2021–2022, SHIB and SHIB-like cryptocurrencies also saw growth.
The great majority of merchants, producers, and companies also accept cryptocurrency giants like Bitcoin (BTC), Ethereum (ETH), and XRP. Additionally, a few services support privacy-focused cryptocurrencies such as ZCash (ZEC), Bytecoin (BCN), and Monero (XMR).
Introducing NOWPayments, easiest way to start accepting crypto in 2022
For this reason, NOWPayments is poised to revolutionize cryptocurrency retail payments for organizations, corporations, artists, and NGOs. It is a simple-to-integrate, multi-platform, noncustodial tool for receiving payments in Bitcoin (BTC) and other cryptocurrencies.
NOWPayments: Basics
A high-performing add-on that enables websites to accept bitcoins is called NOWPayments. Its system operates at a pace that is unmatched: merchants receive their cash in five minutes, while transfers take a maximum of ten seconds.
The NOWPayments service does not hold customers’ money, private keys, or sensitive data; instead, it operates in a noncustodial capacity. Because NOWPayments is a crucial component of the multi-product NOW ecosystem, the platform operates with automatic crypto-to-fiat conversion for all digital currencies offered by ChangeNOW.
Although it employs AML measures to safeguard the cash of merchants and consumers, NOWPayments does not need KYC.
A variety of tailored solutions, such as casino payments, bulk payouts, and Twitch contribution tools, are offered by NOWPayments to its consumers.
NOWPayments: Assets and platforms
NOWPayments enables its customers to begin taking all cryptocurrency kinds from different categories:
The biggest names in cryptocurrency, including as Cardano (ADA), Solana (SOL), Monero (XMR), Litecoin (LTC), Ethereum (ETH), XRP, and Bitcoin (BTC);
U.S. dollar stablecoins, such as USD Coin (USDC), Binance USD (BUSD), Dai (DAI), and Tether (USDT);
Popular coins are Floki Inu (FLOKI), Baby Doge Coin (BABYDOGE), Kishu Inu Coin (KISHU), and Shiba Inu (SHIB);
DeFi currencies include PancakeSwap (CAKE), Chainlink (LINK), Kyber Network Crystal (KNC), and others;
Zilliqa (ZIL), Tronics (TRX), Avalanche (AVAX), Cosmos (ATOM), and Polkadot (DOT) are the non-EVM L1 coins.
More than 150 currencies and tokens are supported by NOWPayments overall, and new assets are introduced on a weekly basis.
Additionally, the service integrates effortlessly with all popular e-commerce systems, such as OpenCart, WooCommerce, Magento, Shopify, ZenCart, Shopware, and PrestaShop.
NOWPayments: Instruments
Under the hood, the NOWPayments service includes an extensive feature set of tools essential for NGOs, artists, and enterprises that embrace cryptocurrency. It offers pre-configured API tools for large payments, casinos, and “regular” services first. The great majority of use cases for crypto-to-fiat paygates are covered by these three API variations.
With ease, NOWPayments can provide invoices for the transactions made by its users. An individual’s personal account or an API can be used to produce invoices. Users can configure periodic payments with preset details in “Subscriptions” mode.
Customers may use their smartphone or a bitcoin wallet to pay for products and services while using the Crypto PoS Terminal option.
Recurring payments are supported by NOWPayments. This is a crucial choice for any digital business that uses a subscription model.
Additionally, NOWPayments unveiled a user-friendly contributions feature. Customers of NOWPayments can use its methods to receive donations via buttons, social network links, widgets, and custom solutions upon request.
Not to mention, NOWPayments features a module for “mass payouts.” Businesses may pay their affiliates, contractors, and freelancers with these tools. Mass payment modules are also appropriate for digital loyalty schemes and wages.
NOWPayments: Fees and affiliate program
The goal of NOWPayments’ multi-level affiliate program is to enable cryptocurrency fans to profit from their social media exposure. Users of cryptocurrencies can sign up for this program even if they don’t have any active online stores.
A user must create an account and go to the Affiliate Program area in order to obtain an affiliate link. With an affiliate link, the owner of the new client joins the NOWPayments ecosystem and receives a minimum payment of 0.1%. After the client registers, the program is good for five years.
The most incredible commissions are available to customers of NOWPayments: minimum costs begin at 0.4%, and the precise rate is determined by the volume of each merchant. Additionally, NOWPayments has no processing restrictions for the vast majority of assets.
Wrapping up
In conclusion, NOWPayments is a state-of-the-art tool made to enable companies, broadcasters, and non-profit organizations to begin taking cryptocurrency as payment, as well as to use it for large-scale rewards and contributions. It may be integrated without the need for additional fees or specialized technical knowledge.
NOWPayments has developed pre-made modules for use by casinos, charitable organizations, and streamers. Its tools may be accessed via buttons, widgets, social network connections, and more. The platform is linked with all popular e-commerce tools and supports over 150 coins.
Disclaimer
Information posted on Crypto Stics is not intended to be financial advice. Before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets, investors should conduct due diligence. Please be aware that any transfers and transactions are done at your own risk, and you are responsible for any losses you could sustain. Crypto Stics is not an investment advisor and neither does it advise on the purchase or sale of any cryptocurrencies or digital assets. We would like to inform you that Crypto Stics engages in affiliate marketing.