A large share of the crypto community is familiar with BLOCKS, a new DAO project which aspires to bring blockchain technology to traditional industries. BLOCKS has a native cryptocurrency called the BLOCKS Token. Apart from providing utility in the BLOCKS DAO project, the token also can be a viable choice for payments. NOWPayments offers a subscription-based payment solution that helps people and businesses to accept recurrent BLOCKS payments.
Key points:
- BLOCKS is the utility token of the BLOCKS DAO.
- BLOCKS is quick and borderless.
- Set up your BLOCKS subscriptions with NOWPayments.
What is BLOCKS crypto?
The BLOCKS cryptocurrency is a multi-faceted utility token that forms the foundation of the BLOCKS DAO LLC. It powers the project’s industry partnerships and helps users govern the DAO. BLOCKS is also a necessary part of the software development kits and enables developers to access the project’s SDKs. The BLOCKS token is the fuel of the reward system of BLOCKS.
Pros and cons of BLOCKS payments
Pros of BLOCKS payments
Fast payment settlement
The BLOCKS token is deployed on the Ethereum network, which has a relatively fast transaction processing speed. So, when transferring BLOCKS, users can receive their coins in a matter of minutes. This is why offering BLOCKS as a payment option can be a great idea for businesses and people who wish to receive their payments quickly and without any delays.
Anonymous payments
BLOCKS transactions are anonymous, meaning that they do not contain any personal information of the sender and the recipient. BLOCKS does not ask users to reveal their name, age, or any kind of private info. So, businesses can rely on BLOCKS as a private solution for conducting payments.
Borderless transactions
The BLOCKS crypto can be a perfect means of global payments. BLOCKS transactions are peer-to-peer, so they are not handled by any third parties such as banks. They happen between two parties only. This allows BLOCKS to be transferred in a fast way across the entire globe. Businesses that want to get clientele from abroad can consider deploying a BLOCKS payment gateway to facilitate the process of international payments.
Zero chargebacks fraud
BLOCKS transactions are irreversible. That means that BLOCKS coins cannot be returned to the previous owner once they have been transferred to another crypto address. This feature of BLOCKS erases any prospect of chargeback fraud. Basically, in the case of BLOCKS, there are no authorities such as banks which have the power to reverse transactions. If you want to avoid chargeback fraud, use BLOCKS payments.
Cons of BLOCKS payments
Price fluctuations
The market price of BLOCKS tends to fluctuate. At times, this volatility can be quite significant, especially for new crypto users. Yet, if you wish to protect your money from fluctuations, you can automatically convert BLOCKS payments to fiat using NOWPayments’ auto-conversion solution.
Transaction fees
The Ethereum network that hosts BLOCKS does not have the best transaction gas fees. During times of high traffic, the Ethereum blockchain can be unusable because of fees. So, BLOCKS can be costly to use, but only on rare occasions.
How to pay for subscriptions with BLOCKS
NOWPayments’ subscription payments help businesses and individuals to receive recurrent payments in cryptocurrencies. The subscription tool lets them request payments through email billing. Follow these steps to set up your BLOCKS subscriptions:
- Create your account on NOWPayments.
- Provide your BLOCKS 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
The BLOCKS token is a solid solution for payments. With the help of NOWPayments, you can create special recurrent subscription invoices in BLOCKS.