Cryptocurrencies have evolved a great deal since the launch of blockchain technology. Cryptocurrencies released after Bitcoin, on average, outperform the pioneering coin in all respects. DigiByte is one of such cryptocurrencies. DigiByte boasts a superior speed of transactions which makes it a viable payment solution for businesses. More companies are starting to adopt crypto in their operations, and DigiByte is guaranteed to deliver numerous benefits to companies that decide to deploy it as a payment method. Learn about five ways in which DigiByte can improve your operations. NOWPayments offers tools for setting up a DGB payment gateway.
Key Points:
- DGB is the native cryptocurrency of the DigiByte blockchain.
- DigiByte is fast, popular, and anonymous.
- NOWPayments offers solutions for deploying a DGB payment gateway.
What is $DGB?
DigiByte is a blockchain launched in 2013, which to a considerable extent revolutionized cryptocurrencies thanks to its fast transactions. DigiByte’s network consists of 3 separate layers, which facilitate the deployment of decentralized applications and enhance security. DigiByte ensures mining decentralization by offering five mining algorithms. The diverse selection of mining algorithms also stimulates its massive throughput of transactions. For instance, an average transaction speed on the DigiByte blockchain is 40 times faster than that on the Blockchain network. DigiByte’s native cryptocurrency is DGB. The coin has a total supply of 21 billion tokens which is fixed.
5 ways to improve your business using DigiByte crypto
Boost efficiency
The speed of DigiByte’s transactions is perhaps the key feature of the coin which businesses can benefit from. The average transaction confirmation time on the DigiByte network is 15 seconds. This translates into incredible transaction speeds, which means that it takes only several seconds to receive a DGB payment. Moreover, it does not matter where the sender and recipient are geographically located since the DGB transaction speed is universal. Moreover, DigiByte is capable of processing as many as 1066 transactions per second. Thus, companies can deploy DGB as a quick payment method which can be particularly beneficial in situations involving foreign clients. When a business needs to receive a payment from overseas, they usually do it using an international bank transfer. Yet, the main problem here is that bank transfers can take days to arrive. Instead, companies can make use of DGB payments which are nearly instant, thus boosting their efficiency. Moreover, NOWPayments offers an auto-conversion feature that enables companies to automatically convert their DGB payments to fiat.
Lower your costs
Expenses kill profits, and they tend to grow massively as your company gets more earnings. DGB transactions can put an end to this problem. DGB transactions not only have a rocket speed, but they also are extremely cheap. In fact, on average, a DGB transaction will cost you less than $0.1. That is a great improvement for companies that are stuck with paying bank fees. A transaction processed by a bank can cost merchants several dollars, which add up and by the end of the year can reach astronomical sizes, increasing the costs for companies. Therefore, DGB transactions can help businesses to reduce their fee expenses and register higher profits.
Deploy an anonymous payment gateway
One of the biggest advantages, which is universal for all cryptocurrencies, is anonymity. Blockchain technology was intended to be decentralized. Thus, blockchains, including the DigiByte network, do not have a single authority capable of vetting users, denying access to some, and allowing to use the blockchain to others. Basically, the DigiByte is open for everyone, and there is no need for sharing one’s personal details to start sending and receiving DGB. Since users can freely use DGB without disclosing their identities, they can purchase goods and services online anonymously. This is why offering an anonymous DigiByte payment gateway can be a sound idea for businesses valuing the privacy of their clients.
Ensure security
The DigiByte network has solid protection against any kind of hacking attacks on its blockchain. While control over 51% of the network’s power is required to disrupt the operations of the DigiByte blockchain, it is practically impossible to achieve this, thanks to the blockchain’s unique approach. As mentioned above, DigiByte ensures mining decentralization to prevent malicious mining and hash power fluctuation. One of DigiByte’s mining algorithms is Odocrypt that changes itself every ten days for ASIC resistance. Businesses that decide to keep their funds in DGB can be certain of their cryptocurrency staying safe and remaining protected from attacks. Similarly, DGB payments are extremely secure and always reach their recipient in no time.
Increase your brand popularity
Popularity is important for businesses; the more people know about your company, the more prospective clients you have. Featuring cryptocurrency payments is one of the easiest ways to attract new clients and boost brand recognition for businesses these days. Yet, not many companies use it. Each cryptocurrency has a community of loyal fans who support their favorite coin or blockchain. When companies deploy a crypto payment gateway, they create an actual use case for a certain cryptocurrency, thus contributing to the promotion of the coin. Communities always support new use cases for their coins, including businesses that deploy crypto payments. DigiByte has one of the largest communities in the industry, therefore offering DGB as a payment option can potentially attract the attention of the coin’s fans and increase the popularity of your company.
How to accept DGB
If you have a business and want to set up DGB payments, you can do it using NOWPayments. There are several reliable solutions offered by NOWPayments for deploying a DGB payments gateway. For instance, eCommerce businesses can utilize plugins which are compatible with PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, and Shopware. Moreover, businesses can use crypto invoices and a virtual Point-of-Sale terminal.
NOWPayments is a non-custodial service which guarantees instant payouts to its partners. NOWPayments charges clients only for the transaction it processes. The fee per transaction starts from 0.4%.
There is also an option of deploying DGB donation widgets, buttons, and links.
Conclusion
The DigiByte blockchain can boast numerous incredible features, including fast transactions and low fees. NOWPayments provides businesses with tools for deploying a DGB payment gateway.