Сryptocurrencies started a new era in the world of finance, transforming the way we think about money. As the popularity of cryptocurrencies continues to surge, more and more businesses are realizing the benefits of integrating digital currencies into their payment systems. Accepting crypto payments can not only open up new avenues for revenue but also give businesses a competitive edge in this evolving digital landscape.
In this article, we’ll explore how you can easily accept crypto payments, particularly BLOCKS, a utility token from the BLOCKS DAO project, with the help of NOWPayments’ subscription-based payment solution.
Understanding BLOCKS Crypto
BLOCKS cryptocurrency, the native token of the BLOCKS DAO project, serves as a crucial element in the ecosystem. It not only powers the project’s industry partnerships but also helps users govern the DAO, enabling developers to access the project’s SDKs. The token’s versatility makes it a viable payment option, especially for businesses looking to embrace crypto payments.
Advantages of Accepting BLOCKS Payments
Accepting BLOCKS as a payment option comes with several advantages:
Swift Payment Processing
BLOCKS token transactions are processed quickly due to the fast transaction speed of the Ethereum network it’s built on. This feature is especially beneficial for businesses that need to receive payments promptly.
BLOCKS transactions do not require users to reveal any personal information, ensuring a high level of privacy for both businesses and their customers.
As a digital currency, BLOCKS facilitates seamless cross-border transactions, making it an ideal choice for businesses aiming to expand internationally.
Elimination of Chargeback Fraud
Since BLOCKS transactions are irreversible, it eliminates the risk of chargeback fraud, providing businesses with a secure payment method.
Overcoming the Challenges
Like any other digital currency, BLOCKS also comes with certain challenges, such as price volatility and occasional high transaction fees due to network congestion on Ethereum. However, these challenges can be mitigated effectively. Businesses can use NOWPayments’ auto-conversion solution to protect their funds from price fluctuations, and the high transaction fees only occur rarely during high network traffic.
A New Era of Payments
The rise of cryptocurrencies like BLOCKS signifies a paradigm shift in the world of finance. By accepting crypto payments, businesses can not only tap into a growing market of crypto users but also enjoy benefits such as faster transactions, increased privacy, and a global reach.
As an easy-to-use crypto payment gateway, NOWPayments is helping businesses ride this wave of change. With its recurring payment feature, businesses can easily accept regular payments or subscriptions in BLOCKS, making it easier for them to meet the demands of their crypto-savvy customers.
Deep Dive into NOWPayments’ Recurring Payments API
The Recurring Payments API from NOWPayments offers a solution to automate the process of sending out recurring invoices and accepting regular payments from customers. It involves creating a payment plan and setting up individual recurring payments for each user.
Here’s a closer look at how you can use the Recurring Payments API:
Creating a Recurring Payment Plan
To create a recurring payment plan, use the Create plan POST method
Parameters available for creating a plan include the title, interval day, amount, currency, your IPN_callback url, and urls for success, cancel, and partially paid scenarios.
Updating a Payment Plan
To update a created plan, use the Update plan PATCH method.
Fetching Information about Payment Plans
To get information about a specific payment plan, use the Get one plan GET method. Likewise, to get information about all the payment plans you’ve created, use the following Get all plans GET method.
Creating an Email Subscription
To send payment links to your customers via email, use the Create an email subscription POST method.
The parameters include the ID of the payment plan chosen by your customer and the customer’s email address.
Viewing Recurring Payments
To view the list of recurring payments filtered by payment status and/or payment plan id, use the Get many recurring payments GET method.
Getting Information about a Recurring Payment
To get information about a specific recurring payment, use the Get one recurring payment GET method.
Deleting a Recurring Payment
To remove a specific payment from the recurring payment plan, use the Delete recurring payment DELETE method.
By leveraging the Recurring Payments API, businesses can automate their invoicing process, making it easier to accept crypto payments and manage their cash flow effectively.
In the rapidly evolving digital world, accepting crypto payments is no longer a luxury but a necessity for businesses looking to stay ahead of the curve. With an efficient and secure payment gateway like NOWPayments, businesses can easily accept BLOCKS payments and other cryptocurrencies, offering their customers a seamless and secure payment experience.