In June of this year, the global cybersecurity firm Kaspersky revealed that 19% of the world’s population has purchased cryptocurrency. The study further disclosed that 14% of respondents who have never used cryptocurrencies would like to do so in the future. With a combined market capitalization value exceeding $200 billion, now is the perfect time to start accepting cryptocurrency payments on your website.
ICOHolder has assembled a list of more than 250 companies that currently accept cryptocurrency as a method of payment. The list has some surprising additions. You can now book a transcontinental flight, pay university tuition and purchase an electric vehicle all with bitcoin. With over 1,600 cryptocurrencies available for consumers to buy and sell, it should come as no surprise that global adoption rates are steadily climbing.
Accepting cryptocurrencies on your site is a savvy business practice. Already, 20% of millennials are holding or using digital assets, which represents a momentous shift in the cryptocurrency market. Here are 5 reasons why you should consider accepting digital currency payments today.
5 Reasons Your Business Should Accept Cryptocurrency
1) You’ll Save Money – Because cryptocurrencies are decentralized, they do not require a bank or third party to verify every transaction. By eliminating these high fees, you’ll save between 2 and 5 percent on each transaction.
2) Transactions Are Processed Quickly – With cryptocurrencies, waiting for funds to be deposited into your business account becomes a thing of the past. Transactions occur in real-time which means they are quickly processed.
3) You’ll Acquire New Customers – Cryptocurrency adoption is quickly growing and as more and more people learn about the advantages of using digital assets, you’ll be perfectly positioned to provide them with the products and services that they need. Cryptocurrencies are also a convenient payment option for customers who do not possess a credit card.
4) Eliminate Fraud and Chargebacks – Cryptocurrency blockchains record transactions on an immutable ledger which means that they cannot be modified or deleted. This eliminates potential fraudulent chargebacks as both parties must approve transactions beforehand.
5) Cryptocurrencies Are Truly Global – If your business exports goods or purchases manufacturing supplies from foreign countries, cryptocurrencies can help you avoid expensive foreign transaction fees and exchange rates. Additionally, in regions where financial services are limited, cryptocurrency payments can be easily made using mobile phones, bypassing expensive third-party intermediaries.
We know that cryptocurrencies are complicated. That’s why we’ve made it easy for you to start accepting some of the most popular digital currencies on your website. With our payment platform, you can easily accept Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Binance Coin, Dogecoin, Litecoin, NEO, OmiseGO, Tron and Ripple. It’s completely free to upgrade your SolidTrust Pay merchant account to accept cryptocurrency payments and our representatives are always available to answer your questions or lend a helping hand.
By applying to accept cryptocurrency payments at your checkout, you will be providing your customers with more payment options, which in return, will attract more business! If you already have a merchant account with us, you can apply for a cryptocurrency payment button by logging in to your SolidTrust Pay Account and going to Merchants > Crypto Payments. If you don’t have a merchant account, you can Sign Up for free and start accepting digital currency payments today!
“They shall grow not old, as we that are left grow old: Age shall not weary them, nor the years condemn. At the going down of the sun and in the morning, we will remember them.”
Laurence Binyon, For The Fallen
Today we honour the brave servicemen and women killed in the First World War. Remembrance Day is a time to share our experience of war, of pride and of country. It is also a time to reflect on the sacrifices made by courageous men and women to protect the values that unite us. Please take a moment to appreciate those who have served and sacrificed for us, and those who continue to do so.
Last year, we introduced Bill Pay Your Way, our low-cost international bill payment service. Bill Pay Your Way allows you to pay bills in 18 countries with no transaction fees directly from your SolidTrust Pay e-wallet. Faster and more secure than sending a money transfer, Bill Pay Your Way is a powerful financial management tool. Not only does it permit you to obtain increased visibility into major family expenses, but you’ll also enjoy peace of mind knowing that your loved ones back home never have to go without the vital services they depend on.
Technological advances in the global financial services industry have simplified bill payment, and paying bills overseas has become easier and more affordable. When choosing an international bill payment provider, there are two important factors that you do not want to overlook: fees and network size. Hidden charges can quickly take a toll on your financial bottom line and taking the time to register for an account only to discover that the provider possesses a limited payment network can be a disappointing experience.
Bill Pay Your Way solves both problems. We have partnered with over 800 major utility companies in 18 countries, and our network of service providers and regions is rapidly expanding. We’ll also never make you pay a transaction fee and our competitive exchange rates mean that it’s less expensive to pay a bill using Bill Pay Your Way than to send an international money transfer.
But don’t take our word for it. When comparing Bill Pay Your Way to PayPal’s Xoom bill payment service, you get access to 9 additional countries and hundreds of new service providers.
|Bill Pay Your Way by SolidTrust Pay||Xoom by PayPal|
|Pay Bills in 18 Countries:
Colombia, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, India, Indonesia, Jamaica, Mexico, Nepal, Nicaragua, Nigeria, Pakistan, Peru, the Philippines and Vietnam
|Pay Bills in 9 Countries:
Colombia, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Nicaragua and Vietnam
|Access Over 800 Billing Companies||Access 66 Billing Companies|
So why settle for only 66 billing companies when Bill Pay Your Way has over 800? We’ve already partnered with 159 service providers in the Philippines, 114 in India, 41 in Mexico, 36 in Nigeria and 34 in Pakistan, and more are coming.
In addition to being able to make payments to major utility companies for electricity, water, gas, cable, satellite, landline, mobile and internet services, you can also pay insurance providers, educational institutions, government departments and transportation companies. To make your first payment, you only need to provide the billing account number. The balance owing will be automatically provided to you and your payment will be confirmed with the billing company within 48 hours.
Taking care of your loved ones back home no longer has to be a challenge. With Bill Pay Your Way, you can effortlessly make international bill payments wherever you are and on any device you use. Help ensure that your family has access to the vital services they need, try Bill Pay Your Way today. To make your first cross-border bill payment, log in to your secure SolidTrust Pay eWallet, go to My Money > Pay Your Bills and click on the Bill Icon at the bottom of the page.
The cryptocurrency market has seen some major disruptions since early 2018. With stricter rules and closer scrutiny, the trade of digital assets is growing at a more stabilized pace. Popular cryptocurrencies, such as Bitcoin and Ethereum, have seen their values drop as investors have become increasingly concerned about their reliance on peer-to-peer computer transfers and a lack of physical backing. These shortcomings have prompted the cryptocurrency community to innovate, creating new digital assets that avoid the volatility inherent in cryptocurrency trading. One of these new asset classes is gold-backed cryptocurrencies.
Asset-backed cryptocurrencies, or stablecoins, are digital tokens whose values are tethered to a tangible holding. This could be a currency like the U.S. dollar, another digital currency, or an exchange-traded commodity, such as gold. While these hybrid assets are less attractive to risk-hungry investors, they are more stable and experience far less volatility which makes them ideal investments for periods of economic uncertainty.
Today, the majority of stablecoins on the market are dollar-backed assets. USD tethered tokens currently account for 75% of stablecoins’ values, but the market for gold-backed coins is rapidly expanding.
Gold has always been seen as a safe haven in investing. Its stability and value outside of fiat currencies have made it an investor favourite in times of financial turmoil and economic downturns.
The Motley Fool highlights that 90% of the demand for gold is based on its intrinsic value. This is why as part of a larger, diversified investment plan, gold provides value even as other assets struggle. Gold remains strong through economic cycles, as its sheer liquidity is such that anywhere you go, its values is recognized. As the shadow of financial uncertainty continues to grip investor sentiment this year and into 2020, gold-linked assets will continue to grow in demand.
In the case of gold-backed cryptocurrencies, their minimum value will always be pegged to current gold prices. As a coin is equivalent to a gram of gold, your investments will remain valuable even if your gold-backed cryptocurrency fails to take off and capture greater market share. On the other hand, if your gold-backed stablecoin climbs in value, it can far exceed the price of gold, making it both a safe financial haven and a speculative investment.
Popular Gold-Backed Cryptocurrencies
If you are thinking about investing in gold-backed cryptocurrencies, here are some of the most traded gold-backed stablecoins available:
DGX Token – The Digix gold token was launched last year and is now the most popular gold-backed cryptocurrency on the market. The DGX token was developed by Singapore-based DigixDAO and since its launch, has doubled its gold holdings. As it’s tokenized gold, investors can withdraw their tokens with the equivalent amount in gold. DGX can be traded in Kryptono, Ethfinex and Kyber Network among others.
OGC Coin – UAE based OneGram is a sharia-compliant digital asset popular in the Middle East. Gold trading platform GoldGuard is just one backer behind this gold-backed cryptocurrency. Seventy percent of OGC’s revenues are invested into additional gold shares, adding to its value.
ZGC Coin – Chinese ZenGold coin is the first tokenized gold launched in the Metaverse blockchain. This blockchain is considered in close competition to Ethereum and NEO as an environment to develop dApps and smart contracts. Similar to others on this list, one ZGC coin is equivalent to a gram of gold currently being stored at the Shanghai Gold Exchange Vault.
PAX Gold Coin – Lastly, New York-based asset manager Paxos recently launched its own gold-backed cryptocurrency Pax Gold. The stablecoin issuer highlights that PAXG coins can be exchanged for a gram of gold in trusted institutions like Bullion Exchanges in New York.
As the cryptocurrency market matures, stablecoins are enjoying a much more noticeable presence in the digital asset world. New investors seeking to enter the crypto market with reduced risk would be wise to consider gold-backed cryptocurrencies as a way to stabilize their portfolios and as a safe haven in case of severe market downturns. With big players swooping into the stablecoin market like Paxos and OGC, the popularity of gold-backed cryptocurrencies will undoubtedly continue to grow.
Would you consider investing in gold-backed cryptocurrencies? Let us know by leaving your comments. If you enjoyed this post, please subscribe to our Blog and follow us on Facebook and Twitter for news, updates and more helpful content.
As with any asset, investing in cryptocurrencies involves the risk of substantial loss, including the loss of your entire investment. SolidTrust Pay is not an investment advisor or fiduciary and this content is provided for informational purposes only. Before purchasing cryptocurrency, please evaluate whether the investment is suitable for your financial situation and personal risk tolerance.