Horizen is building a secure blockchain that possesses complete interoperability with other networks. Horizen particularly prides itself on the exceptional level of data integrity and privacy that it offers to users. The native crypto of Horizen, ZEN, is primarily used as a utility asset that powers products of the Horizen ecosystem. Since Horizen is an extremely efficient platform, ZEN transactions are processed quickly and almost at no cost. This feature of ZEN makes it a viable option for payments. Thanks to NOWPayments, businesses can both get paid in ZEN and automatically convert the ZEN payments they receive to fiat.
- ZEN is privacy-oriented crypto.
- ZEN payments are a sure way to beat chargeback fraud.
- NOWPayments enables businesses to use a ZEN-to-fiat payment gateway.
What is ZEN crypto?
The Horizen platform focuses on the provision of best-in-class tools for developers to custom-build private or public blockchains. Horizen has a potential throughput of 10,000,000 transactions per second since it can maintain 10k blockchains running in parallel simultaneously. Horizen has a robust and secure public infrastructure enhanced with multiple security layers. This allows it to guarantee 100% uptime to users. The ZEN coin has a total supply of 21,000,000 coins. ZEN is a versatile asset that can be used both as an investment tool and a payment method.
Advantages of Horizen
The privacy offered by Horizen is one of the key features of the network. Horizen has two types of addresses, T-addresses and Z-addresses. The former are regular addresses that are completely transparent. The latter are shielded addresses, so transactions between Z-addresses are completely private and anonymous.
They leverage zero-knowledge cryptography to obscure sender and recipient addresses, as well as the amount sent.
Businesses interested in the provision of a highly secure and anonymous payment method for their confidential clients can use Horizen’s Z-addresses to transfer money in ZEN. For instance, if you sell expensive houses, jewelry, wines, or art, you and your clientele will definitely find ZEN’s extra privacy mode useful.
As already mentioned, Horizen is an efficient network to the point that it can process thousands of transactions per second. This means that its performance is practically on par with mainstream payment network processors such as Mastercard. So, if you use ZEN cryptocurrency payments, it is unlikely that you will be disappointed, given that the Horizen network processes transactions in a matter of minutes. Moreover, unlike Mastercard and Visa, you do not need to register a special card or open a bank account tied to your name to send and receive ZEN. In fact, all you need to do is to install a wallet on your device and randomly generate your ZEN crypto address. ZEN’s simplicity makes it a payment method available virtually to every person on the planet who has an internet connection.
In addition to the quick processing of ZEN transactions, Horizen does not charge its users massive fees. The gas fees paid by users to make a ZEN transaction are so minuscule that you are unlikely to notice them in the first place.
This is another advantage of ZEN over the mainstream payment processors. Mastercard and banks charge businesses a substantial amount of money simply for processing payments. The ZEN coin provides companies with a chance to stop losing money by paying large fees and switch to a low-cost payment method instead. Your clients will also thank you for giving them an opportunity to pay quickly and without breaking the bank due to high fees.
Despite the fact that the Horizen network is anonymous, it can enable businesses to achieve an unheard level of transparency and accountability. Essentially, every single transaction that gets registered by Horizen gets recorded and forever stored on the network. As a result, users can see the amount of crypto they received over the whole period when they were using Horizen (ZEN). This is a perfect opportunity for businesses to straighten up their bookkeeping. Basically, Horizen does everything for you and records all the information about how much money you received and spent. Since the network also stores this data forever, you will always be ready to access the information in a matter of seconds.
Protection against fraud
The Horizen crypto payments can protect your business from fraud. Horizen coin transactions are not only quick, private, and low-cost, but they are also irreversible. This means that there is no way to cancel a transaction or somehow tell the system to reverse it and return the money to the previous owner.
Once a sum on the ZEN cryptocurrency is sent to another address, it is gone. So, Horizen payments are an effective solution against chargeback fraud that many businesses suffer from. Horizen does not have a single authority capable of reversing transactions like in the case of the banking system, so if you get paid in ZEN, you can be sure that your money is yours forever.
How to let customers pay with Horizen and get fiat
NOWPayments enables businesses to accept Horizen token payments. Additionally, merchants can automatically convert the ZEN they receive into fiat. NOWPayments has partnered with Switchere to facilitate the conversion process for clients. Although ZEN is not supported by Switchere, merchants can still use the auto-conversion feature. By employing the built-in balances feature of NOWPayments, ZEN can be converted to an asset supported by Switchere (e.g., XRP). Once the exchange is conducted, you will be able to withdraw your money in fiat.
Businesses can charge their clients in ZEN and get in fiat by using NOWPayments’ auto-conversion feature.
Want to look at the Horizen more? Check out these articles:
- Top charities & how they can benefit from Horizen
- Brick-and-mortar stores accepting Horizen
- Top 10 Horizen (ZEN) influencers
- How to benefit from Horizen donations?
- Businesses Accepting Horizen (ZEN): Where Can You Spend Your ZEN
- Horizen Blockchain Network: Real-Life Use Cases, Sidechains, and Responsible Privacy
- ZEN payments on Clubhouse – with NOWPayments, Rob Viglione and Horizen enthusiasts
- How to benefit from ZEN payments
- ZEN & eCommerce plugins
- Feel ZEN With NOWPayments? We Do!