The economic turmoil of the past several years has made companies look elsewhere for new sources of profit. Many of them discovered that expanding their payment options to include Bitcoin opened a largely unexplored but lucrative market to them. These days, offering Bitcoin payments alone will hardly cut it, as the level of competition among businesses targeting the Bitcoin audience is already quite high. Instead, nowadays, accepting cryptocurrencies that have a narrower reach but still possess relatively sizeable communities is the wisest decision one can make. Hedera is the coin NOWPayments can recommend to all companies wishing to benefit from the crypto adoption.
Key points:
- Hedera utilizes state-of-the-art technology to maintain 10-second transactions
- Hedera coin can serve as a cheap and anonymous payment option.
- NOWPayments enables businesses to deploy HBAR crypto payments.
What Is Hedera Hashgraph?
Hedera Hashgraph integrates the most advanced public ledger technology and solutions on the market to offer unmatched scalability and performance. Hedera relies on a hashgraph consensus algorithm and is governed by a decentralized network of international organizations called the council, which include LG, Google, IBM, and others. HBAR is the native token of the Hedera public ledger. HBAR serves two primary purposes on the network. First, it is used as fuel to pay transaction fees, which are minimal in the case of Hedera. Secondly, HBAR is crucial to Hedera’s security as it can be staked by validators to process transactions and collect rewards in return.
Why Should You Try Payments in HBAR Crypto?
Rock-bottom transaction fees
HBAR payments are a sure way for merchants to save themselves money. With an average Hedera transaction costing only $0.0001, implementing HBAR payments can really downsize your expenses. This is especially relevant for businesses that deal with large volumes of transactions on a daily basis.
Using NOWPayments to deploy HBAR as a payment method also will not apply any extra pressure on your earnings, as the service charges clients only 0.5% per transaction. Thus, accepting HBAR crypto payments via NOWPayments’ tools can be a great deal if you are looking for ways to slim down your liabilities column on the balance sheet.
Global reach
Hedera, just like any other decentralized network, is completely borderless. Hedera’s borderless nature means that firms integrating it as a payment option can accept money from anyone and anywhere. As a result, businesses can employ it to attain global reach.
Basically, companies can easily target new customers from all over the world by simply featuring HBAR payments. Companies are always in need of extra sources of revenue, and expanding their international presence is the most common way to achieve it. NOWPayments does not impose any geographic restrictions on the users utilizing its tools to accept the Hedera coin. Therefore, they can freely use it to get paid by clients residing in different parts of the world.
Instant transactions and immense throughput
HBAR transactions are among the fastest in the industry. Specifically, they take about 10-20 seconds. Companies can use the Hedera coin as their payment solution to ensure much quicker processing, especially when compared to some other mainstream payment methods.
The speed of Hedera transactions is not affected by external factors, such as the location of the recipient and the sender. In other words, HBAR payment processing is not hindered by distance and can be conducted seamlessly at any time. Hedera possesses a high throughput of 10k transactions per second, so it is unlikely that you or your clients will face any traffic on the network, slowing down your payments.
Free integration and over 150 payment options
HBAR can be just a start to your crypto payment journey, as NOWPayments lets you accept over 150 other cryptocurrencies as payment. It does not matter whether you want to gain new clients or expand options for your established customer base, NOWPayments can help you with accepting payments in any cryptocurrency of your choice.
NOWPayments provides you with a seamless experience of accepting crypto and makes it effortless for your clients to pay you with HBAR or any other currency. You can always track all the payment activity in your personal account, as well as configure your existing payment options at any moment. NOWPayments works 24/7 and all year round, so you will not encounter any delays. NOWPayments makes instant payouts, as it is a non-custodial service, which means you will receive your payments immediately and automatically.
Privacy and security
HBAR is not controlled by a single authority, which is beneficial for businesses, as it allows for anonymous transactions. When using the HBAR coin both you and your clients will not have to disclose any personal information. People tend to want to keep their private matters secure and confidential.
This is why HBAR is the perfect solution to enable them to do it. HBAR transactions are peer-to-peer, so there are no intermediaries on the network that can interfere with the transactions. Decentralization of Hedera makes it much harder to hack or corrupt by malicious actors, as a result, HBAR crypto transactions are secure.
How to Accept HBAR Payments?
NOWPayments delivers the following tools for accepting Hedera payments:
- eCommerce plugins: These plugins are compatible with PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, and Shopware.
- Payment Link and a PoS terminal: Businesses can use a payment link and a virtual Point-of-Sale terminal.
- Recurring Payments: Some companies may deploy special recurring invoices.
- Custodial Recurring payments: It allows companies to set up separate billing accounts for their customers and let them top up these accounts with the cryptocurrency of their choice.
- API: NOWPayments’ versatile API enables businesses to create custom crypto payment solutions.
In order to deploy an HBAR token payment link, follow these steps:
- Enter your public HBAR crypto address.
- Press “Create payment link.”
- Enter the details of your payment link and click “Confirm.”
- You will receive a payment link that your clients will be able to use by simply scanning its QR code.
Conclusion
Hedera is a rocket-fast network with high throughput and an exemplary level of decentralization. Businesses can accept Hedera’s native token HBAR as payment by using NOWPayments.