Radio Caca is a new DAO that offers Web 3.0 infrastructure solutions to its users. The project is backed by OKX Blockdream Ventures and is operated by internet-native individuals all over the globe who share a single vision of building a virtual world of the future. The native token of the project is RACA, also known as Radio Caca Token. The RACA coin is a multi-chain currency since it exists on Ethereum, Solana, OKExChain, and BNB Chain. The versatile nature of RACA makes it a perfect means of payment. NOWPayments not only lets companies accept RACA as payment but also empowers them to get fiat payments and instantly convert them to RACA.
Key points:
- NOWPayments lets businesses feature RACA payments.
- Merchants can convert all of their fiat funds to RACA.
- There is also an option of automatically converting all RACA payments to fiat.
What are Fiat-to-RACA payments?
Why you need Fiat-to-RACA payments
RACA is a powerful cryptocurrency which thousands of people around the world keep in their wallets. As a result, many businesses decide to offer RACA as a payment solution to their clients. At the same time, some RACA holders have their own businesses where they feature RACA payments to grow their personal RACA holdings.
Although RACA is a popular crypto, people use RACA relatively rarely to make purchases. Therefore, businesses which do not get enough RACA can convert all of their fiat payments to RACA.
Why use NOWPayments?
While it is true that businesses can convert their fiat payments to RACA themselves, NOWPayments can help them to do it more efficiently. Essentially, NOWPayments automatically converts fiat to RACA and guarantees instant payouts. Clients of NOWPayments also can track all of their payment information in their personal account with an easy-to-use interface. Moreover, NOWPayments provides great terms for its fiat-to-crypto feature. Merchants will only need to pay 4% for each conversion operation. Additionally, NOWPayments enables businesses to accept different fiat currencies including EUR, RUB, USD, TRY, GBR, and UAH and receive their funds in RACA.
Is RACA-to-fiat an option?
Those businesses which want to feature RACA payments but receive their funds in fiat instead also can use NOWPayments. Businesses can choose the crypto-to-fiat payments feature and thus get all of the money paid to them by their clients in RACA. Moreover, the fee for RACA-to-fiat is only 0.5% which is even lower than that for the fiat-to-crypto operations. At the same time, the crypto funds can be converted to EUR only.
The need for KYC
While NOWPayments lets its clients accept crypto completely anonymously, those who wish to conduct fiat-to-crypto and crypto-to-fiat operations will need to undergo KYC procedures.
How to make such payments using NOWPayments?
Fiat-to-RACA
In order to start accepting fiat and then turn it to RACA using NOWPayments, merchants need to take several steps. The first step is setting up your account on the official website of NOWPayments. Once you have your account, follow these directions:
Fiat payments are available via invoices and e-commerce CMS plugins. You can use the existing invoices or create new ones. As for the API, we haven’t enabled fiat payments in it yet, but you can create invoices using the API — they will work just like the regular ones.
To pay with fiat, a customer needs to choose a fiat currency at the checkout. They will be redirected to a “Buy crypto” page generated by our partner fiat provider Mercuryo.
After confirming the mobile phone, the customer pays the sum. We convert it automatically to the cryptocurrency you’ve set and send it to your wallet in mere minutes. You can monitor the payment status in the Dashboard in your account.
RACA-to-fiat
Similarly, merchants can provide their clients with an opportunity to pay in RACA and then receive the sum in fiat.:
In your account, press the “Crypto to Fiat Button.” You will be redirected to a page where you will have to fill out the third-party provider form to be able to withdraw to fiat. In it, you will have to present details about your business. After sending the completed form, NOWPayments will process it in 2 business days.
On approval, Guardian, the third-party provider, will ask you to share some documents needed to undergo the onboarding process to receive fiat. Once you provide these documents and get another approval, you will be able to sign an agreement with Guardarian.
Finally, after you sign the agreement, you will be able to receive fiat. To do it, you need to specify your bank account and the amount you would like to withdraw. Then, NOWPayments will give you the rate and the deposit address to which you will have to send the requested amount in crypto. Guardarian sends funds within 72 hours.
Conclusion
RACA is a new cryptocurrency with a significant potential. Businesses can integrate RACA as a payment solution using NOWPayments. Moreover, they can continue accepting fiat payments but receive all of the funds in RACA thanks to NOWPayments’ fiat-to-crypto feature.