How can you use crypto for your business?

As the cryptocurrency market continues to rapidly evolve, “How can you use crypto for your business?” becomes a highly popular question. Savvy business owners are exploring new ways to leverage digital assets like Bitcoin and stablecoins.

Integrating crypto can open doors to new revenue streams, cut costs, and attract tech-savvy customers. Let's take a deeper look at how businesses, both large and small, can use cryptocurrency to their advantage.

While most people think of cryptocurrency as an investment or means of speculation, forward-thinking companies have found success accepting cryptocurrency as payment.

An estimated 2.3 million merchants worldwide currently accept at least one major cryptocurrency, like Bitcoin. Some innovative ways businesses are using crypto include:

• Accepting crypto payments directly for goods and services. Just like processing credit cards, payment processors allow seamless conversion to fiat currency. This taps into the growing crypto user base.
• Offering loyalty rewards or discounts for crypto payments. This incentivizes crypto holders to spend their assets, bringing new customers through the door.
• Using stablecoins for lower-cost cross-border payments. Moving value globally with crypto settles almost instantly for a fraction of banking wire fees.
• Paying suppliers or contractors in crypto to earn early-payment discounts. Save 2-3% by settling invoices with digital assets.
• Leveraging blockchain-based smart contracts for ticketing, inventory management, or other applications The technology unlocks new automated business models.

With some technical know-how and the right payment partners, virtually any business can experiment with incorporating crypto to boost sales and trim costs. The opportunities are still emerging daily. Join us in this blog as we provide a comprehensive approach to use crypto for your business.

What are the benefits of cryptocurrency?

For merchants, the transparency, speed, and cost savings of crypto make a compelling case compared to traditional financial rails. Some key upsides include:

• Lower transaction fees than credit cards, which can take a bite out of slim profit margins. Many crypto processors charge 1% or less per transaction.
• Near-instant settlement. Crypto payments clear in minutes versus the days it takes banks to process wire transfers or ACH payments between accounts. Faster access to funds improves cash flow.
• Access to a global customer base. Crypto users span every country, allowing businesses to serve international clients easily with just a website or app.
• Immutable audit trail on the blockchain. Transactions recorded on distributed ledgers cannot be altered, protecting against chargebacks and disputes compared to credit cards.
• Augmented security features like multi-signature crypto wallets provide an extra layer of protection compared to traditional finance.

For consumers, the benefits of cryptocurrency include full control of funds, censorship resistance, and the ability to opt out of traditional financial systems—a big draw in much of the developing world.

Why should a business accept crypto?

A few compelling reasons have driven major adoption among forward-thinking companies:

• Competitive advantage: Being one of the first local sellers to accept crypto attracts a loyal customer base of tech-savvy early adopters.
• New revenue opportunities: Crypto opens the floodgates to a massive global market previously difficult to access. About 30% of East Africans have never had a bank account.
• Lower costs of doing business: As mentioned earlier, crypto transactions typically carry less than 1% in fees compared to 3–4% with credit cards. The savings add up.
• Future-proofing: Crypto adoption continues to rise exponentially, and savvy entrepreneurs get on board the transformation early instead of chasing it later. Investing in blockchain integration positions businesses for long-term growth.

Crypto moves the competitive needle by tapping into new revenue streams while reducing spending on financial services. For many merchants, it has become too compelling to ignore.

Is crypto good for small businesses?

Absolutely. In fact, cryptocurrency may provide even more benefits proportionally to small businesses versus large enterprises. Consider:

• Leveling the playing field globally. Crypto gives solopreneurs and startups an equal footing among major brands in serving an international customer base.
• Cutting costs significantly. Savings from 2-3% crypto transaction fees versus 4-5% credit card processing can double bottom-line profits for many small outfits.
• Accepting micropayments realistically. Settlement in seconds makes billing fractions of a cent a possibility where credit cards were previously too expensive. This opens up monetization models like subscriptions in more affordable chunks.
• Enabling innovative business models. Smart contracts, NFTs, and other blockchain technology provide a toolkit for creativity that was not as accessible before.

As long as sufficient precautions are taken to properly secure and insure holdings, crypto opens tremendous new opportunities and scale for entrepreneurs on a tight budget. The barriers to entry have perhaps never been lower especially for small businesses.

How can normal businesses use cryptocurrency?

Getting started with crypto as a typical small business doesn't need to be overwhelming. Here are some basic best practices to use cryptocurrency:

• Choose a major stablecoin first. EURK offers a stable, regulated euro alternative perfectly suited for commercial payments. Its 1:1 peg minimizes volatility risk.
• Select a payment processor. Reliable providers like Cryptobunq make it effortless to integrate crypto acceptance into websites and point-of-sale with simple exchange APIs or plugins.
• Secure cryptographic deposits properly. Use multi-signature wallets or third-party crypto custody to protect funds with insurance if held long-term, versus instant conversion to fiat.
• Educate staff and customers. Provide resources about crypto basics so everyone understands the capabilities and how the new payment option works seamlessly.
• Start small and scale up gradually. Try crypto for a new product launch or discounts to build experience before going all-in company-wide.

With preparation and partner support, any business can experiment safely with incorporating crypto today to uncover powerful new financial advantages. The process is as simple as buying cryptocurrency and starting to make peer-to-peer payments.

Which cryptocurrency should you choose?

With thousands available, selecting the right cryptocurrency requires considering objectives, risk tolerance, and use cases. For commercial payments, stablecoins tend to offer the best fit for most businesses.

A stablecoin like EURK offers transparent transactions that are fast and secure. It is ideal as a straightforward substitute for cash and credit cards because Cryptobunq securely issues and audits it.

EURK is a 1:1-backed euro stablecoin built on multiple blockchains, empowering innovation with reliability and efficiency through its regulated reserves in Switzerland and the Dominican Republic.

Major types of cryptocurrencies prone to volatility are generally not practical as payment methods yet. However, larger companies may explore holding Bitcoin or Ethereum for speculative investment purposes, much like gold reserves, once regulatory frameworks solidify.

For mainstream usage, established stablecoins offer the requisite stability, speed, and regulatory oversight businesses demand today over native crypto assets. EURK stands out as a top-rated, fully collateralized option.

How do you buy EURK for your business?

Purchasing a stablecoin like EURK to use as a payment currency is quite straightforward. The basic process looks like:

• Sign up for an account on a reputable crypto exchange that supports EURK. Verify your identity.
• Deposit fiat currency from your business bank account onto the exchange.
• Use the deposited funds to purchase the amount of EURK needed based on expected payments and reserves desired.
• Withdraw the EURK from the exchange to a secure business crypto wallet. Software and hardware wallets integrated with payment processors provide the best cryptocurrency security.
• The EURK is now available to seamlessly receive and instantly settle commercial payments globally with near-zero costs through any processor compatible with the coin.

With the right partners, businesses of all sizes can easily obtain EURK to broaden their financial capabilities, leveraging the advantages of blockchain technology. From there, the opportunities are plentiful, especially for e-commerce payments, global payments, and crypto batch payments.

You can buy EURK from our trusted partners Speedy, The Kingdom Bank, The Guardian Bank, CBQ, and Reisbank. Additionally, you can check “buy/sell EURK”, “connect your wallet,” and “transfer EURK” for more information.

The bottom line: How is crypto transforming commerce worldwide?

Cryptocurrency adoption among businesses is accelerating as merchants unlock new revenue streams and cost savings worldwide. For entrepreneurs keen to gain competitive advantages, stablecoins like EURK provide a regulated and reliable on-ramp into blockchain's transformation of commerce.

With basic preparation and the right ecosystem partners, any organization can explore harnessing crypto's power today. If you want to invest in stablecoins and are in search of a reliable stablecoin, you can trust EURK.

Become a partner and enjoy the power of stablecoins with EURK. The role of stablecoins is to provide a stable value and provide risk-free opportunities for businesses. Therefore, they are seen as the future of money. Adapt your business to ever-changing technology through a euro-based stablecoin with EURK!