Cryptocurrency invoicing and payment acceptance
Cryptocurrency is one of the hottest topics in the world today. It is a form of currency that has been developed for use on the Internet.
In recent years, there has been its massive growth – cryptocurrency has begun to be used in various areas, many people earn from it and even use it to pay for goods, services.
Nowadays, crypto-payments are actively used in the economy and commerce.
Accepting cryptocurrency payments has become relevant for many companies, freelancers, and entrepreneurs.
More and more organizations are plugging cryptocurrency payment options into their website as it helps to empower the company, increase visibility and improve customer perception of the business.
Cryptocurrency invoicing is the ability to transfer funds between clients and partners, or even send crypto to family, friends.
Nowadays, there are a large number of services that allow creating invoices and accepting crypto-payments.
We will tell you what invoicing is, how to accept cryptocurrency payments, and which platforms can be used for this purpose.
What is an invoice
The rapid development of e-commerce has led to a significant surge in crypto-payments. As of 2019, the daily turnover of cryptocurrency transactions was 5.5 million U.S. dollars.
Cryptocurrency payments worldwide are projected to increase to $4.4 trillion by 2024.
An invoice is an invoice that includes a list of the goods or services provided and their actual value.
The difference between a crypto-invoice and a regular invoice is that in this case the invoice is issued in cryptocurrency.
Crypto-invoicing is the process of generating invoices for goods and services that require payment in cryptocurrency. The main advantages of using cryptocurrency invoicing are as follows:
- increased business potential because many customers increasingly prefer to pay in cryptocurrencies;
- maximum anonymity of transactions, so that third parties will not be able to trace information about the destination, sender, and recipient of funds;
- high level of security, which significantly reduces the risk of transaction counterfeiting or hacking;
- ensuring secure, inexpensive, and fast payment processing;
- fast invoice generation;
- cryptocurrency payment is available 24/7, so all you need is internet access and any gadget;
- absence of human error when sending and receiving payments;
- it is possible to manage, track and view invoices;
- technology allows you to customize your accounts.
Cryptocurrency invoicing has been actively gaining popularity lately.
Cryptocurrency payment acceptance: benefits and popular uses
Users can manage and track their customers’ crypto payments. In addition, a fully customizable, yet pre-configured template allows users to quickly and easily enter all necessary information.
Users can then send the link via email, social media, or text message to their customers.
After clicking on the link, the recipient will see an itemized invoice and the required payment amount.
When the payment is made to the sender’s digital wallet, the crypto-invoice tool checks the blockchain browser and notifies both parties.
Nevertheless, user convenience remains a barrier to the widespread acceptance of cryptocurrency payments.
Unlike fiat payment channels or retail trading platforms, the sender must methodically duplicate a large string of hexadecimal digits in the recipient’s wallet address.
The most common use of cryptocurrency payment acceptance is by companies that engage in the following activities:
- online sales;
- entertainment services;
- services that provide a variety of services;
- cryptocurrencies;
- exchanges.
Cryptocurrencies are gradually gaining a larger share of the global payment industry.
Several well-known payment companies, including PayPal, Venmo, Visa, and Mastercard, are partnering with cryptocurrency companies so that users can use their digital assets to purchase preferred goods at millions of retailers.
There are about $150 million worth of cryptocurrency invoices. Approximately fifty percent have been paid in stablecoins such as DAI or USDT.
How to create and pay for a crypto-invoice
To create a crypto-invoice, first, you need to register on the service, which provides this service. For this purpose, it may be required to specify some contact information, fill in simple forms.
It is obligatory to specify the email, without which account registration will not be possible. Then you can request the account generation and send it to the client.
After the user receives the email, he will be able to follow the link for payment, where a special form will be provided. You can pay the invoice by:
- a crypto-transaction;
- with fiat money from a debit or credit card.
After the payment is made, the payment is sent to the recipient. This ensures maximum payment security and fast transactions.
Crypto-invoices are just gaining popularity, but they are already being used by companies of different focus and size.
Cryptocurrency transactions can be done without third-party intervention, making them much faster and not as costly. Services charge minimal fees, making payments as profitable as possible.
Accepting cryptocurrency payments on your website
Preparing crypto accounts can be time-consuming and complicated. Understanding the nuances of cryptocurrency billing, such as conversion rates from fiat to cryptocurrency, can be confusing for some users, especially those who are new to the business.
Fortunately, so-called crypto invoice platforms.
Once registered, such platforms will generate invoices directly without involving any third party and charge affordable fees.
Users typically need to open an account and add their wallet address to crypto payment gateways.
Each payment gateway has a standard fiat currency, such as a dollar or euro, which is later converted into the selected cryptocurrency and sent to the user’s wallet.
Payments are usually made within a day. Some platforms may take more than a day to complete the transaction. We have compiled a list of the best online platforms that offer cryptocurrency payment acceptance and invoicing.
Wellcoinex payment gateway
This is a popular service with a wide range of functions. With its help, in addition to accepting payments and sending invoices in cryptocurrency, you can exchange cryptocurrency for fiat money, perform any financial transactions and work with different types of currency.
Wellcoinex is known for its favorable terms, simple and straightforward interface, great feature set, and good customer support.
All transactions are executed as fast as possible, so users can transfer cryptocurrency even in urgent cases
Features:
- Customer support is available 24 hours a day, 7 days a week.
- There is an option to receive and send payments, as well as an exchange function and much more.
- Ability to track transactions at all stages.
- Minimal fees.
- Easy to use site with great functionality and clear interface.
- Minimum requirements for users, which makes registration much easier.