IoTeX functions as a next-gen platform for decentralized projects. It has a vast ecosystem of products developed by the IoTeX community. The IOTX crypto is the basic medium of exchange of IoTeX. The massive ecosystem of the project drives IOTX forward, making it a lucrative investment for thousands of users. Businesses can capitalize on the popularity of the IOTX cryptocurrency by accepting it as payment. NOWPayments features several IOTX token payment tools, and one of them is subscriptions.
Key points:
- IOTX brings together real-world devices and blockchain.
- IOTX payments are efficient and secure.
- Send IOTX subscription invoices to clients using NOWPayments.
What is IOTX crypto?
The IoTeX blockchain is a lightning-fast, ultra-secure, and highly scalable platform connecting real-world data to on-chain decentralized applications. The ultimate mission of IoTeX is to build a connected world where individuals own their data, devices, and identity. The IoTeX coin is the native currency of the blockchain that gives investors a chance to participate in network governance and staking. Additionally, IOTX is freely traded on multiple exchanges. IOTX is necessary for everyone who wants to interact with IoTeX’s Dapps, devices, and marketplaces.
Pros and cons of IOTX payments
Yet, apart from a variety of use cases offered by the platform, users are free to create their own IOTX use cases. For instance, businesses and services that rely on a subscription-based model can get paid in IOTX. Deploying IoTeX token subscriptions entails several major benefits for companies.
Pros
- Uncontested efficiency
IoTeX is a cutting-edge blockchain that implements the latest technological advancements in the sphere of blockchain. This translates into a highly-efficient network capable of processing transactions in seconds. Businesses can use IOTX as a nearly-instant and low-cost payment option. It takes less than 10 seconds for an IOTX payment to get processed.
- Truly global
The IoTeX blockchain is a peer-to-peer network that spans the entire planet. This means that IOTX transactions are global and do not have any limitations. As a result, users can transfer their IOTX coins internationally, 24/7, and without delays. The speed of IOTX transactions remains the same no matter where you send your coins. - Secure and private
IoTeX has a reliable security infrastructure that protects users from all types of hacking interventions from external forces. Moreover, IOTX transactions are private, so users transfer their coins absolutely anonymously. Private payments can be a great feature for many subscription-based businesses and services to offer to their clients.
Cons
- Fluctuations
Price fluctuations of IOTX are an inevitable result of decentralization. So, on some occasions, the market value of the coin may vary significantly. This may not be the most pleasant experience when you see your holdings drop in price, but you can easily solve this issue by using NOWPayments’ auto-conversion feature.
How do I accept IoTeX token as payment for my subscription plan?
NOWPayments’ recurrent payments feature is a tool for deploying IOTX invoice-based subscriptions. The tool has a built-in email billing mechanism making it easy to send personalized invoices to clients. Use this guide to launch your IOTX subscriptions:
- Create your account on NOWPayments.
- Provide your IoTeX crypto address to which you would like to receive payments.
- Generate an API key.
- Go to the “Invoices” section and click the “Create Invoice” button.
- Fill in the required fields (the currency, the order ID, and the price in USD).
- Next, go to the “Subscriptions” section and enter the invoice ID as well as the frequency with which your subscribers will be sent a reminder.
- Click “Create the subscription group.”
- Click “Edit” in the appeared subscription field and add your subscriber’s email address (you may add as many as you wish).
- Wait for your subscriber to confirm the subscription.
Conclusion
NOWPayments’ subscriptions tool lets merchants send IOTX token subscription invoices to their clients.