Cryptocurrency payments are a convenient way of paying for products and services which is taking the world by storm. While the majority of businesses that feature crypto payments choose to accept only Bitcoin and Ethereum, others go for less popular but in certain aspects superior options. One of such cryptocurrencies is Ravencoin. RVN transactions possess numerous benefits for businesses which make the coin perfect for using as a payment method. With the help of Ravencoin, businesses can make and accept peer-to-peer transactions without banks. NOWPayments’ tools provide businesses with simple and reliable solutions for accepting Ravencoin as payment.
Key Points:
- RVN is the native cryptocurrency of the Ravencoin blockchain.
- RVN payments are cheap, transparent, and private.
- NOWPayments offers solutions for deploying a RVN payment gateway.
What is $RVN?
Ravencoin is a blockchain that was developed based on Bitcoin’s source code. The main idea behind Ravencoin is the improvement of the existing Bitcoin technology, making it more up-to-the-task in the decentralized economy of the future. The project strives to establish seamless transactions of crypto from one user to another, fixing the issues related to Bitcoin, such as high fees and long confirmation times. The Ravencoin network has a 1-minute block time and a maximum coin supply of 21 billion. The mining algorithm used by Ravencoin called KAWPOW was developed to ensure mining decentralization. Thus, users can mine RVN with the help of any type of equipment, including standard CPUs, ASICs, and GPUs. The algorithm enhances Ravencoin and makes it more accessible to the average user.
5 ways to improve your business using Ravencoin crypto
Reduce fees
Transaction fees are the main thing that bothers every crypto user. For instance, Ethereum fees often become simply outrageous, which prevents many people from using their ETH funds, including as a means of payment. Similarly, Bitcoin transaction fees are also out of this world. On the other hand, there are cryptocurrencies that do not experience such an issue, and Ravencoin is one of them. An average RVN transaction fee will be less than $0.1. The creators of the Ravencoin network intentionally wanted to make the coin affordable for everyone. Thus, businesses that deploy RVN payments can reduce their fee expenses significantly. Moreover, companies also can send RVN payments to their suppliers, which will also enable them to save on fees.
Introduce borderless payments
Every country has its own banking system, which makes it difficult for banks located in different jurisdictions to transfer money between themselves in an efficient manner. Such transfers not only entail large fees but also can take days to arrive. Businesses that have foreign clients and suppliers may find it difficult to accept and send bank transfers because they are extremely slow and costly. The Ravencoin blockchain, in its turn, does not have any borders. As a result, RVN transactions take only several minutes or even seconds to arrive, irrespective of where the sender and the recipient live. This means that even if your business is in England, but your client is in Australia, the payment made in RVN will reach you in no time.
Receive anonymous payments
Cryptocurrency is one of few modern technologies which actually promote the privacy of people instead of minimizing it. It has become obligatory for people to share their personal details with banks and payment processors. Yet, no one understands why exactly they should do it. Most importantly, no one likes it. Ravencoin transactions are anonymous and do not contain any personal information about the sender and the recipient. Moreover, there is no formal registration process on the Ravencoin blockchain or KYC procedures. Everything is done privately, and users only need to generate their private and public keys to start using RVN. Businesses can offer RVN payments to clients who are concerned about their confidentiality, especially when shopping online.
Attain the highest level of transparency
Transparency is important for businesses since it enables companies to keep track of all financial activities and be aware of every transaction sent and received. The Ravencoin blockchain is ideal for making your enterprises’ balance sheet as transparent as possible. Essentially, since blockchain is a public ledger, it records every single transaction and stores data about it forever. Thus, when accepting RVN payments, businesses will always be able to check when they received a certain payment and how much. Additionally, when using NOWPayments’ tools for accepting RVN, businesses will be able to create or generate a special invoice containing information about each transaction. The invoices will also be forever stored in their NOWPayments’ accounts.
Attract new clients
Yet, apart from the previously mentioned advantages of Ravencoin, the coin’s biggest asset is its community. The Ravencoin army is one of the most loyal communities in the industry. Ravencoiners actively support and promote every RVN use case. Since, in the majority of cases, the Ravencoin blockchain is used for minting NFTs, the emergence of companies willing to accept RVN as payment can potentially excite a furor in the Ravencoin community. Essentially, deploying a Ravencoin payment gateway can create a new use case for the coin, which can attract people wanting to try it out. Some RVN holders will be more than excited to pay for products and services using RVN, while others will be happy to share info about an RVN-fueled company on social media.
How to accept RVN
Every company that wishes to utilize all the benefits of the RVN payments can use NOWPayments’ tools for deploying a Ravencoin payment gateway. NOWPayments delivers reliable solutions for deploying RVN payments. 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 RVN donation widgets, buttons, and links.
Conclusion
Ravencoin is a blockchain that significantly improves the shortcomings of Bitcoin and delivers excellent infrastructure for peer-to-peer payments. NOWPayments provides businesses with tools for deploying an RVN payment gateway.