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More and more corporations now accept crypto payments using trusted payment systems. For small businesses, managing crypto payments directly can be tough—handling multiple wallets, security risks, and price fluctuations. While direct control gives flexibility, it also requires more time and technical know-how. Using a crypto payment platform makes things easier by handling transactions, protecting against market swings, and offering lower fees. It’s a simpler, more efficient way for businesses to accept crypto without the extra effort.
The world of payments is changing, and businesses everywhere are catching on. Some of the biggest, most reputable brands—like Starbucks, AT&T, and Overstock—are already accepting crypto payments. You can grab a coffee, pay your phone bill, or buy furniture with crypto, thanks to these industry pioneers. But here’s the thing: they’re not doing it alone. These major brands use crypto payment systems to handle transactions smoothly and securely. These household names trusting crypto payment systems is a huge vote of confidence in the reliability and reputation of this technology. And guess what? Crypto payments aren’t just for massive corporations anymore. Now smaller businesses have two options: handle crypto themselves or partner up with a crypto payment system too.
Pitfalls of receiving crypto directly
Setting up payments directly into your crypto wallet gives you full control. You set your terms, keep fees low (except for network fees), and don’t rely on third parties. And while it's technically possible, doing so introduces several challenges related to security, volatility, compliance, and user experience. For example, just to add crypto as a payment option to your website, the business has to build custom code for handling blockchain addresses, payment confirmations, and transaction tracking.
Managing your business payments with your own crypto wallets can also be risky. These platforms offer secure storage options and protect your account’s data from cyber attacks and malware steals.
Sometimes individual crypto wallets may be shut down in case the incoming payment comes from a suspicious account. Nimera applies Know Your Transaction (KYT) measures to prevent this. KYT presumes deep analysis of your clients` transactional patterns, identifying and alerting their potentially fraudulent activities.
Transaction related issues
Cryptocurrency transactions can vary in speed. Direct transfers may require businesses to monitor incoming transactions manually, especially across different blockchains. Crypto payment platforms streamline transaction verification in real-time and facilitate faster confirmations or even pre-confirmation services to help mitigate delayed payments because of network congestion.
When crypto transactions fail or customers send incorrect amounts, third-party providers often have customer support services that help resolve issues. Managing these issues manually would increase the operational burden on businesses.
While chargebacks don’t occur in cryptocurrency, fraud is still a concern. Nimera provides fraud detection and security layers (like address safelisting or transaction screening) to protect businesses from phishing, double-spending attempts, or other malicious activities.
More and more corporations now accept crypto payments using trusted payment systems. For small businesses, managing crypto payments directly can be tough—handling multiple wallets, security risks, and price fluctuations. While direct control gives flexibility, it also requires more time and technical know-how. Using a crypto payment platform makes things easier by handling transactions, protecting against market swings, and offering lower fees. It’s a simpler, more efficient way for businesses to accept crypto without the extra effort.
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