Over the past few years, many businesses have started accepting Cryptocurrency as a form of payment for their products or services. The biggest reason behind this business of accepting crypto is that unlike Euro, Dollar or other such currencies, cryptocurrency is not controlled and regulated by governments, banks or other financial institutions and authorities. There are very low transactional fees involved and payment with cryptocurrency allows increased accessibility while leading to a decrease in frauds.
Why Are Businesses Accepting Cryptocurrency?
There are several benefits to using and accepting cryptocurrency. Businesses that process large orders can do so without charging a high amount. By accepting payment in crypto, these businesses can save on processing fees. Cryptocurrency is also a way of making products and services available to people across the globe. While many businesses are unable to provide payment options that include local currencies, crypto can be used by all. Cross-border transactions can be done quickly and only a minimal charge is required to convert the cryptocurrency into any local currency.
If you are interested in using cryptocurrency to trade the financial markets, you can do so from the easyMarkets platform. You can easily set up the uBTC account from easyMarkets and deposit your bitcoin without any need to exchange it for fiat currencies. The easyMarkets platform offers some great features like no slippage, fixed spreads, and negative balance protection to help you trade and pay in cryptocurrency without any hassle.
What Tools Can Be Used to Minimize Cryptocurrency Risks?
Even though many businesses are accepting crypto as a method of payment, there are some risks involved. This is why easyMarkets offers tools to assess and reduce risks. These include:
- dealCancellation which can be used to undo losing trades within 1, 3 or 6 hours for a small fee and subject to terms.
- Free Guaranteed Stop Loss that allows you to keep your losses within a set margin.
While using the uBTC account from easyMarkets, you can buy or sell at any time to minimize loss. You can also get reports on potential risk factors and crypto market activities that will help you stay alert while using cryptocurrency.
What Should Be Considered before Accepting Cryptocurrency?
Nowadays more and more companies are accepting cryptocurrency, there are certain aspects that need to be considered. Cryptocurrency, especially bitcoin, is volatile and fluctuations in pricing can occur at any time. This causes the crypto market to crash. There is also no definite authority regulating crypto and this can cause problems. However, if a business wishes to expand its customer base then crypto is possibly a good, and radical way to do so.
Use of Cryptocurrency and CFD Trading
As someone interested in trading and investing in crypto, the uBTC account on easyMarkets is essential for you. You will not need to buy any underlying assets to use cryptocurrency as all instruments are contracts for difference. CFD trading can also provide you with opportunities even if the market drops, by allowing you to make a prediction on downwards price movements.
Businesses that accept cryptocurrency are aware of the risks and fluctuations within the market. They are able to deal with such issues and as a customer, you can rely on the necessary tools available on platforms like easyMarkets to pay in crypto quickly and securely.