Ethereum is one of the most popular tools for online paying for goods and services. Today, an increasing number of brokers are interested in accepting payments using crypto assets – Ether is the most popular one. If you offer your customers the option to make payments using this digital asset, you can easily catch a wider audience and increase conversion.
We will review how to accept payments using Ethereum and give recommendations relevant to almost all digital currencies.
Unique Benefit of Ethereum Payments
You’ve probably heard that payments with crypto assets have a high level of security, are reliable, and are suitable for both a recipient and a sender. Here are some of the key benefits of using Ether as a payment instrument:
- Ethereum is a universal payment system based on one of the most promising technologies
- Secure smart contracts eliminate the need to involve intermediaries to conduct transactions between participants
- One of the highest transaction speeds – significantly higher than Bitcoin
- One of the lowest transaction fees
A detailed history of all transactions, which is stored on the blockchain
The payment mechanism can look as follows:
After the conclusion of a smart contract between a sender and a recipient, a certain amount of funds is blocked on a customer’s account. It will become available right after the transaction has been completed. Such a scheme allows customers to safely use Ether as an alternative method of paying for services or goods provided.
Features of Accepting Ethereum Payments
There are several simple and affordable ways to set up the acceptance of cryptocurrency payments for brokerage services. The simplest is to connect a crypto wallet and use it for incoming transactions. It is enough for a brokerage company to publish the wallet address on its website or display it in the form of a QR code, and this will significantly increase the comfort of making payments for clients.
In the meantime, additional options for accepting payments using Ether have been created specifically for commercial projects:
Payment gateway. The cryptocurrency payment gateway allows you to accept payments in ETH, and this option is perfect for brokerage companies, online stores, online services, etc.
Receiving payments through the Ethereum API. Brokers can use the Ethereum API to receive payments directly through the site. This method will provide an opportunity for your clients to use all the functions of a payment gateway with a comfortable connection to a trading account and the possibility of additional settings.