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Benefits Of Crypto Payments And DeFi Projects For SMEs And Bitpace Customers

It's been over 10 years and it is safe to say that cryptocurrency is here to stay. Since the launch of the first cryptocurrency, the Bitcoin, the crypto market has witnessed a proliferation of digital currencies. It is estimated that there are currently over 9,000 cryptocurrencies today. The crypto space has been met with resistance from governments and corporations but one can say that it is gradually winning the hearts of some governments and corporations. With the global dominance of the crypto market, the benefits of DeFi projects and crypto payments are becoming more apparent and everyone seems to be gradually catching the buzz. This article talks about what Bitpace customers and SMEs stand to benefit from crypto payments and the various DeFi projects in the crypto space. 

Understanding Crypto Payments and DeFi Projects

Governments and corporations alike are becoming more receptive to the idea of digital currencies and accepting them as a form of payment for their products and services. For example, the Venezuelan government partnered with Litecoin to be used as a means of payment in Venezuela's mainstream international payments system. The Australian government does not tax cryptocurrency transactions. In the business world, corporations such as Microsoft, which started accepting Bitcoin as a form of payment as far back as 2014 for its games and apps have been receptive to crypto payments. PayPal, Starbucks, Etsy, and Overstock all accept Bitcoin as a form of payment for their products and services.

Crypto payments simply mean the act of using any cryptocurrency to pay for goods and services as against the conventional fiat currencies. Because of the digital nature of cryptocurrencies, crypto payments can only be done online via cryptocurrency payment gateways such as Bitpace. Payment gateways provide a platform for businesses to accept crypto payments from customers in exchange for their products and services. The payment gateway sector is gradually becoming a booming space and Bitpace has established itself as a reliable gateway for merchants and customers to exchange cryptocurrencies for products and services.

For investors, cryptocurrencies can also be used as a means of payment for other cryptocurrencies. For example, someone that has Litecoin and wants to exchange it for Bitcoin can use crypto payment platforms to do this. Depending on the terms and conditions of the exchange you're using, you can exchange Litecoin for Bitcoin for the value on the crypto exchange platform. You can also use crypto to pay for fiat currency. This is also a form of crypto payment. In this case, you will be using your crypto as a form of payment for fiat currency. Most crypto exchanges like Bitpace offer these crypto payment services. With Bitpace, you can make payments with cryptocurrencies like Bitcoin, Litecoin, Ethereum, Ripple, TRON, IOTA, and so many others. 

DeFi projects, on the other hand, are decentralized finance projects that are based on blockchain technology. DeFi platforms use smart contracts on blockchains to offer financial instruments. A good example is Ethereum. This is different from the central financial intermediaries such as banks, brokerages, or exchanges that offer conventional financial instruments. In other words, users of DeFi platforms can trade cryptocurrencies, borrow or lend funds, speculate on the price movement of different assets using derivatives, earn interest in savings like accounts and insure against risk. All these transactions are done directly between the users of a DeFi platform. It eliminates the need for intermediaries. As of October 2020, it was estimated that a total of $11 billion in cryptocurrency had been deposited in various DeFi protocols. This figure rose to $20.5 in January 2021. 

What SMEs Stand To Gain With Crypto Payments And DeFi

With the big corporations already driving up their interests in crypto payments and DeFi projects, there is no better time for SMEs to join in. They have a lot to gain in adopting the same for their businesses. Here are some benefits of crypto payments for SMEs:

1. More Option For International Payment - If your business involves receiving payment from across the border, you will agree that it is usually fraught with issues like limited payment options and lag in transaction approval. Checks are sometimes inefficient, payment may take days sometimes, and online payment platforms are not accepted in every country. Crypto payments by nature are peer-to-peer payment systems that allow your customers to make payments without any intermediary determining the transaction. With a crypto payment platform like Bitpace, you can receive payments within minutes. 

2. No Issue Of Chargebacks - Business owners are at a risk of credit card chargebacks when payment is reversed by the intermediary. With crypto payments, you do not have to worry about third-party intermediaries reversing payment because of the peer-to-peer technology.  

3. Lower Transaction Fees - The different payment methods available to businesses have high transaction fees. Most payment merchants have set up fees, flat transaction fees, and a percentage of the payment made. Cumulatively, this will be on the high side and affect your business. With crypto payments, peer-to-peer transactions do not charge any transaction fee.

4. Penetration Of Younger Market - Cryptocurrency is most popular among the younger generation. They also have a better hang of it. They will be disposed to patronize a business that offers a crypto payment option as against the one that offers only fiat currency payment. Therefore, your business gains a wider market penetration in the youth demography. 

5. Secured Transactions - The decentralized nature of cryptocurrency guarantees a secured crypto transaction. Blockchain technology protects you from fraudsters. Blockchain technology also stops customers with insufficient funds to make payments. This prevents unnecessary time-wasting and chargebacks. 

Bitpace Crypto Payment Gateway

Bitpace is a crypto platform that offers crypto-based financial services for individuals and businesses. This crypto payment platform provides businesses with a platform that has multi-payment acceptance features and cryptocurrency trading. You also get fixed and dynamic deposit options that allow businesses to accept cryptocurrencies for their products and services from customers. You can also install Bitpace plug-in on your website and use the platform directly to receive crypto payments from your customers. In addition to serving as a payment gateway, businesses can also trade cryptocurrencies on Bitpace.  

Bitpace offers excellent crypto payment services that will ensure the smooth running of your business. Some of these services include:

1. Fixed Deposit - This service enables you to receive crypto payments from your customers in a wide range of cryptocurrencies. It also gives you the option to withdraw the value of these crypto payments in Fiat currency. Your transactions are guaranteed to be quick and secure.

2. Dynamic Deposit Process - This service ensures that your customer can make their crypto payment anywhere and anytime without any hassle. There are complex payment processes. There is a dedicated payment address between you and your customer.

3. Withdraw - Bitpace allows your customers to get their balance in coins without using another platform. All transactions are done on Bitpace. 

4. Trading - Bitpace is not only for business merchants to receive crypto payments. Individuals can also do their crypto trading on the platform. They offer the best crypto rates for traders and investors alike.

Bitpace is a reliable crypto payment gateway that guarantees easy, risk-free, secure, and convenient transactions for businesses and their customers. Once you install the Bitpace API and enter your secure login, you can begin to get paid in Bitcoin or other supported cryptocurrencies. You can choose to deposit your Fiat money in your bank account or have your crypto payment transferred into your crypto wallet.  

Benefits Of Using Bitpace For Crypto Payments

1. Multiple Cryptocurrencies - For business owners, Bitpace allows you to receive a variety of cryptocurrencies as payment for your products and services. There is a wide range of digital coins you can receive as payment. From Bitcoin to Algorand. All you need to do is register as a merchant on the Bitpace platform and you can start receiving crypto payments for your business. 

2. Easy and Fast Payment Processing - Bitpace offers instant payment processing services when you use the platform. You will not have to worry about delays in transaction glitches. Your customer pays you in crypto and you receive the payment instantly. You also do not need coding knowledge to be able to integrate Bitpace crypto payment on your website.

3. No Chargeback Fraud - Chargebacks are a major issue on payment platforms, be it fiat currency or cryptocurrency. Bitpace platform ensures you do not experience chargeback frauds on the crypto payment for your business. 

4. Affordable - The Bitpace crypto payment platform is very affordable for businesses to use. Bit Pace does not charge unnecessary fees such as commitment fees, monthly fees, or any other form of upfront charges. 

5. Global Presence - Bitpace has a worldwide reach that is an obvious advantage for businesses using the platform. Businesses that have customers all over the world can receive their crypto payments without any hassle.

6. Refund Process - When you have issues with your payment transactions, Bitpace offers a fast and reliable refund payment system. Whether you're underpaid or overpaid, you can initiate a refund process that will ensure you get what is due to you.

7. Partial Payment - This feature helps build your business, especially if you're just starting. It gives your customers enough time to fully pay for your products and services. 

Conclusion

It is hard to deny that the world is becoming more and more digital each day; the introduction of the Metaverse, cryptocurrency getting adopted by not only businesses but also by countries, and so on. Cryptocurrency is sitting right in the middle of all these developments and the next phase of life. It is still not late to integrate cryptocurrency into your businesses, take advantage of the countless benefits the crypto payments offer and take your businesses to the next level.

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3air will kick off its public sale on November 26, as seen on the presale page.

3air Token Public Sale Details

The platform is building its upcoming public sale on the successful private sale rounds, which saw numerous participants joining. Currently, users register for the public sale and are awaiting Know Your Customer (KYC) and AML verifications.

The platform will sell the token at $0.06 at the public sale, which will offer the initial and final supply of tokens in presale rounds. To enter, you will need a minimum ticket of $600, while the maximum investment opportunity stands at $49,800.

The team securely developed the token on Cardano, utilizing the blockchain's IOHK Atala Prism Identity Management solution.

The platform will dedicate 20% of the 1 billion maximum token supply to the public sale. This allocation differs from the seed sale and private rounds, which represented 1% and 11% of total supply, respectively.

3air provides a detailed breakdown of its token sales. Also, the company believes that the disclosure of the token's distribution is crucial to prevent future supply changes.

The platform reassures its user base that all token distributions run on smart contracts. Therefore, you will receive your tokens once the sale closes automatically through an app on your ADA wallet.

Unfortunately, some countries will not be able to participate in token sales. The US, North Korea, Zambia, Central African Republic, British Virgin Islands, China, Venezuela, Iran and Iraq.

Tapping into Untapped African Markets

Investors have long recognized the African continent as a region full of potential and talent. However, the current lack of broadband internet and its supporting infrastructure causes a digital divide that slows down economic growth.

African cities can grow faster and thrive with more reliable internet connectivity. However, building telecommunication lines and burying fiber network cables requires substantial investments in infrastructure. Currently, internet providers focus primarily on business districts only, and Internet connections are limited and unreliable. A report by the World Bank estimates that it would take over $100 billion of investment and 10 years to achieve widespread broadband connectivity using traditional means.

3air recognizes this need for high speed internet and aims to close the digital divide faster and at lower costs. In a simulation of market potential using Nigeria as an example, 3air estimates that the value of the Nigerian markets' untapped annual revenue for Internet services is worth $60 billion. Establishing more affordable and faster internet connectivity would therefore not only benefit local populations, but token holders as well.

3air uses all these factors as motivation to provide broad premium bandwidth in African cities to previously underserved areas. In this regard, the platform relies on a talented and experienced team of specialists in IT, blockchain, marketing, and telecommunication.

Blockchain technology is leveraged by 3air to provide a trustless, decentralized environment that maintains security and user data protection. Users will be able to create digital identities, enabling access to bankless payments, health, work and education. Internet, TV and IP Telephony subscriptions will be paid for using the 3air token. The token will also be used for bandwidth sharing, HW insurance and maintenance, rewards, referrals, staking and community governance.

Fruitful Partnerships

Besides developing on Cardano, 3air is acquiring more partnerships to drive its vision to completion. One of these strategic collaborations is with the telecom service provider K3 Telecom. The Swiss company's patented technology will develop the broadband connection for 3air using innovative wireless technology that is able to set up high speed internet connectivity in a new region in a matter of months. 

Its optic grade air connectivity can provide 1Gbps internet speed and over 150 television channels. The technology, K3 last mile, is ready for the world, utilizing innovative technology, a functional business plan, and a successful proof of concept in Sierra Leone. Other 3air partnerships include collaborations with IT TIM, CV Labs Global, and iceaddis.

These business and technological joint efforts show 3air's commitment to providing Africa with better internet connectivity. Thanks to its innovative projects and ideas, individuals and businesses in African cities will finally upgrade to fast and cost-effective internet services.

Technology moves fast and slow. Weekly reports of developments in digital assets and cryptocurrencies this week show how fast new technologies can develop. At the same time, the news and announcements that caught my attention this week focus on good old application programming interfaces (APIs) gaining new uses to make the traditional world of institutional investing more efficient. APIs are not new. I first wrote about them in 2015 for Independent Banker magazine. “The real power of API software lies in providing additional services for customers and data to customers. The newest use of APIs is to provide public access

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