Accepting cryptocurrency can be a great way to give your business a competitive edge while saving on fees - but how do you get started? Do you have to setup separate wallets for each cryptocurrency you are interested in accepting? Can you swap between coins or turn them back into your local fiat currency?
The easiest way to accept cryptocurrency in your shop or on your site is to use a crypto payment processor that securely takes care of all of those details for you. But how do you know which one to choose? Let’s walk through the main things to look for when deciding which payment processor to go with.
First of all, if you are going to trust them with the processing of customer funds - you want to look at the Creditbility and Longevity of the company. How many other merchants are actually using them? Did they just pop up a few months ago, or are they well established in the market? Are reputable brands and companies that you trust using them?
The next thing we want to look at is Low Fees. One of the most appealing benefits of accepting crypto is that you can enjoy much lower fees than credit cards and fiat payment processing companies like square or apple pay the charge. Even within the crypto payment processing space though - fees can vary and so you’ll want to take that into consideration.
Next - do they have a good variety of coin options? Major cryptocurrencies like bitcoin or ethereum will likely be the most popular choice with your customers - but you may want to start accepting other altcoins because of consumer demand and so you want to be set up with a payment processor that already has a good selection.
Then, what is the experience like for the customer? You obviously want your customers to have a good checkout experience and so making sure the crypto payment plugin looks and feels on-brand with the rest of your customer experience and functions smoothly, is important.
And finally - how good is their customer service and support? Let’s face it - this is kind of unchartered territory for your business and you want to know that whatever payment processor you choose really has your back and is able to help answer your questions and address any potential issues quickly.
So, how Does Coinpayments stack up on all of these things? Let’s take a look.
