Cryptocurrency is all about predictions. No matter whether a person actively trades crypto or simply holds it in their wallet, they always have a certain prediction on the future price of their assets. The sphere of crypto payments also implies making forecasts, but those concern the trends which will be popular in the coming months or even years. Crypto payment trends are important to know both for average crypto enthusiasts and businesses that utilize cryptocurrency as a payment method. Here is our top 7 list of the hottest trends in crypto payments for 2022.
Key Points:
- Growing crypto adoption will force big names to offer crypto payments.
- Businesses will be interested in accepting altcoins and using non-custodial services.
- NOWPayments will assist companies in deploying crypto payment gateways.
Increasing adoption of crypto payments by major brands
By now, everyone has seen plenty of companies that accept cryptocurrencies as payment. Convenience stores, fashion brands, and even car dealerships, people can pay with crypto for virtually any kind of product. Yet, the majority of companies that feature crypto payments are not internationally recognized. At the same time, the example of Tesla and similar companies can inspire other renowned brands to join the race for the wallets of crypto investors. For instance, the rumors about Amazon potentially offering Bitcoin as payment on its platform have been particularly popular recently. So, if Amazon and other similar corporate giants decide to actually make the step towards crypto adoption, we are guaranteed to see the tally of crypto-fueled businesses go through the roof.
Expansion of crypto payment options among businesses
Bitcoin no longer runs the show in the sphere of crypto payments. Thanks to the advancements in the realm of blockchain development, in the past years, we have gained numerous networks which can process transactions faster and cheaper than Bitcoin or Ethereum. As a result, the utility tokens of the modern, scalable and efficient blockchains will become even more desirable by businesses accepting crypto and people who pay with it. Businesses that wish to keep up with this trend can use NOWPayments as their crypto payment processing service. NOWPayments lets merchants accept more than 100 coins, and this number is constantly growing.
Demand for non-custodial services
Cryptocurrency is meant to be a decentralized means of transferring value. Unfortunately, many crypto industry stakeholders seem to distance themselves from this idea. Today, plenty of crypto wallets, as well as crypto payment services, are custodial. This means that when using them, crypto investors lose control over their funds. Nevertheless, people and businesses are becoming more aware of the risks related to custodial services and are beginning to shift to non-custodial ones. NOWPayments recognizes the need of its partners to have their crypto funds at their disposal 24/7 and, therefore, remains a non-custodial service that makes instant payouts.
Growing number of crypto-friendly brick-and-mortar locations
It is common knowledge that the majority of companies that accept cryptocurrencies are online-based. In the modern world, it often does not make much sense to set up a physical location for many enterprises. Still, since cryptocurrencies are taking the business realm by storm, brick-and-mortar shops also want to have their fair share of the market. So, our cryptocurrency 2022 prediction is that more physical stores will embrace the power of cryptocurrencies. NOWPayments have many tools for accepting cryptocurrencies which are ideal for brick-and-mortar businesses. For example, our Point-of-Sale terminal is easy to deploy on any device from a mobile phone to a laptop, and it enables merchants to issue personalized crypto invoices in a matter of seconds.
Rise of crypto salaries
Together with the growth of the crypto market, more people are discovering cryptocurrencies and blockchain technology. Some individuals are certain that crypto is the future and, therefore, prefer to keep all of their funds in different tokens. It is possible to imagine that such people will be more than happy to receive their salary in crypto too. Moreover, there are already companies that offer such an option to their employees, and their ranks are only going to expand. NOWPayments’ “Mass Payouts” feature lets companies send dozens of transactions with the help of an easy-to-use service. The feature will be particularly beneficial for businesses that have employees, suppliers, and contractors willing to receive crypto as remuneration.
Crypto donations on social media and streaming platforms
Social media influencers, streamers, and YouTubers have never been more famous than in 2021. There seems to be no significant slowdown in interest for online celebrities coming in 2022 which means that there will be even more people trying to compete for the money of donors and patrons. In the content-making community, the most creative survives, and what can be more ingenious than featuring donations in crypto? Such an idea will certainly be all the rage among creators. Moreover, the number of viewers and supporters who have crypto is also growing every day, so 2022 will highly likely become the year of crypto donations. NOWPayments is ready to support influencers with tools for accepting crypto donations.
Simple crypto payment integration
Businesses that have ever decided to accept cryptocurrencies often were stopped in their tracks after looking at how difficult it can be. If businesses wish to accept crypto on their own, they need to accept the payment fast so that the exchange rate does not radically fluctuate in five minutes. Yet, if companies want to deploy a crypto payment gateway using an external service, they may be required to buy additional equipment. As a result, in 2022, the number of businesses needing a simple and cheap payment processing service will continue to rise. NOWPayments is the perfect candidate for the role of service with free-and-easy-to-deploy, low-cost crypto payment gateways.
Conclusion
Although forecasting the price of cryptocurrencies is hard, predicting trends of crypto payments is much easier. In 2022, we expect to see the growth of crypto adoption, which will manifest itself in major brands deploying crypto payments and businesses featuring more crypto payment options. As always, NOWPayments is ready to assist any enterprise in setting up its crypto payment gateway.