While the perspective of adding cryptocurrency payments for recurring payments might seem tedious at first, the process is now as straightforward as ever, as cryptocurrencies, as well as blockchain technology, are becoming a bit more mainstream.
Today, we will be exploring a bit deeper into the world of crypto, and we will be going over everything you need to know about selling subscriptions for your services through the utilization of cryptocurrencies.
- If you have a service that runs through a subscription service, in other words, the clients that use your services have to send you recurring payments on a monthly basis; then cryptocurrencies might be advantageous to the performance of your overall business.
- Through the NOWPayments service, you will be easily able to implement crypto within your payments model.
- Cryptocurrency payments are quicker, cheaper, and a lot more secure due to the fact that they rely on and are based on blockchain technology.
Why sell subscriptions in crypto?
It is becoming increasingly evident that the world is prepared to begin the mass adoption of cryptocurrencies as a form of payment. There are numerous companies out there, such as Square and even PayPal, that have already begun to allow cryptocurrency payments.
The main reason why these companies have adopted cryptocurrency payments and why it could be advantageous to sell your subscriptions in crypto is due to the fact that cryptocurrencies are fully decentralized. This means that they remove many if not all of the middlemen involved with conducting cryptocurrency payments, which makes the overall process a lot more affordable. Additionally, cryptocurrencies enable near-instantaneous settlements, which give merchants access to a rapid cash flow. They are highly secure due to the fact that each transaction is recorded on the blockchain network.
However, one of the most important aspects of cryptocurrencies is the fact that they have a global reach. In other words, while PayPal, for example, might be restricted in some countries, cryptocurrencies are available to anyone in the world and can be sent from and received by anyone, anywhere, regardless of their geographical location. This, in turn, opens the door for subscriptions from people who otherwise might not have been able to conduct the purchase through the payments already available within your website.
Furthermore, cryptocurrencies are censorship-resistant. In other words, banks, as well as payment processors, might turn away legitimate businesses that operate within businesses that might be too rich. Cryptocurrencies, on the other hand, offer a measure of censorship resistance and enable any legitimate business to maintain its customer relationships.
How to sell subscriptions in crypto?
In order for you to be able to sell your subscriptions through the utilization of cryptocurrencies, you will need to integrate a payment gateway through which you will be able to receive the crypto.
This means that you can utilize services such as NOWPayments, which can be integrated, after which you can start receiving online payments in crypto, and will, in turn, be able to accept Bitcoin, Ethereum, as well as over 100 other cryptocurrencies on your store on a global scale.
All you have to do is to follow these simple steps:
- Sign up to your personal account.
- Navigate to the “Invoice” section and click the “Create Invoice” button.
- Fill in the required fields (the currency, the order ID, the frequency with which your subscribers will be sent a reminder).
- Add your subscriber’s email address (you may add as many as you wish).
- Wait for your subscriber to confirm the subscription.
Hopefully, now you have a heightened perspective as well as a level of understanding as to how cryptocurrency payments can be integrated within your business, so you can sell the subscriptions for your services through the utilization of cryptocurrency payment methods.