Why Dropshippers Should Get Paid in Crypto
After being around for more than a decade, Bitcoin has just broken a new record by hitting the $60,000 mark. It's no longer an option for entrepreneurs to ignore cryptos.
Many major companies have jumped on board, including Tesla, Axa Insurance, Microsoft, Starbucks, Amazon, Visa, PayPal, Expedia, and Lush, which have all started accepting payments in cryptocurrencies.
Is accepting cryptos just a temporary trend, or will crypto replace credit cards? And apart from these behemoths, is there any interest for me as a dropshipper, e-commerce, or infoproduct seller to accept cryptos? This is what we will find out in this article.
What are the pros of accepting crypto as payment for an e-commerce owner?
First of all, as a business person, you must think rationally and in terms of market share. The number of cryptocurrency users is growing steadily, the global crypto market cap has grown fivefold since last November when it stood at $578 billion, and the equivalent of $76 billion a day is traded on Binance.
As a business owner, this information cannot be ignored: your customer will want more crypto payments in the future. Don't lose your market share!
But the benefit is not only there, transaction fees are also cheaper, and you are not at the mercy and control of banks and their fees.
According to Forbes:
Bitcoin has the advantage of not having large fees from credit card companies that cut into profits
This allows you to reach a new market, accept payments from all over the world without headaches, and become more competitive or profitable. Bear in mind that one person made a $2 billion transfer in Bitcoin and ended up paying only $0.78 in transaction fees.
On top of these points, and not least, the security offered by blockchain is much better than traditional payment systems.
As a matter of fact, during the pandemic, the number of attempted fraudulent transactions involving credit cards increased by 35% in April 2020 compared to the same period the year before. And unfortunately, the target of these frauds is often small businesses.
While on the other hand, blockchain is considered inviolable, and the security of your wallet is much more advanced.
Okay, I understand the benefits and opportunities of accepting bitcoin on my site or e-commerce, but how do I accept cryptos on my website without any kind of technical knowledge?
There is a quick & easy alternative called Forkchain to accept crypto payments if you are a business owner. Creating a crypto store is a breeze with ForkChain; all it takes is a few clicks, and no coding knowledge is required. This service is often called the Shopify of the Blockchain.
The pros of accepting cryptocurrency as a dropshipper are endless, whether it's in terms of cost, market share, or security. The best option to set up your crypto store as soon as possible and accept crypto payments is ForkChain, which only requires a few clicks.