We’ve already seen multiple iterations of blockchain technology. The Bitcoin network pioneered the industry but later was surpassed by Ethereum in leading blockchain tech forward, which provided users with additional features. Today, we are witnessing the emergence of the next big revolution in the blockchain industry, with VeChain being at the forefront of it. VeChain may be defined as a next-gen network that greatly improves on the existing solutions. VET is VeChain’s native token that firms, particularly those accepting subscription payments, should take note of. If the option of recurring VET payments is something that sounds interesting to you, NOWPayments can help you with making it a reality.
- VET is the native VeChain coin.
- VET payments are sustainable and accessible worldwide.
- Deploy VET payment subscriptions using NOWPayments.
What is VeChain crypto?
VeChain is a network primarily designed for businesses. As a result, businesses may create their blockchain solutions on top of VeChain’s network. VeChain already collaborates with companies such as PwC and Walmart China. The value of VeChain stems from the utility created by members within the ecosystem. VeChain has an innovative two-token model consisting of VET and VTHO. This approach dramatically reduces the cost of utilizing blockchain by separating it from market speculation.
Why should I accept VET payments?
The VET coin is a powerful digital asset that can be utilized in many contexts. The inherent characteristics of VET make it an efficient store of value and a viable payment solution. Here is a list of the fundamental advantages VET payments can bring to businesses.
The VET cryptocurrency is a sustainable asset, meaning that its parent blockchain does not consume as much power as the mainstream alternatives such as Bitcoin. As a result, companies that strive to align their operations with the green agenda can safely utilize VET as an environment-friendly payment option.
Global and universally available
VeChain cryptocurrency transactions can be made globally because they are borderless and not subject to any laws or jurisdiction restrictions. Such a feature is useful for companies that want to enter the international market and sell products to overseas clients.
Basically, instead of opening a separate bank account in each country of operation, businesses can simply use a VeChain address since it works everywhere.
VET transactions are also low-cost, so you users do not waste thousands of dollars on network fees. This can save companies a great deal of money and, potentially, even boost their profits. After all, VeChain coin transaction fees are even lower than those usually charged by banks.
VET can be used by subscription services as a private option for conducting payments. Essentially, to use VET, one does not need to share their personal info. All VeChain crypto transactions are totally anonymous. So, businesses can easily let their clients pay for products privately without disclosing their identities to any third party.
In addition to being sustainable and low-cost, VET crypto transactions are also quite fast. VET transactions on average do not take more than a couple of minutes. Moreover, the speed of VET transactions remains stable no matter how large the distance between the sender and the recipient is.
So how do I accept VeChain as payment for my subscription plan?
The recurring payments function of NOWPayments is a method for implementing VET coin subscriptions. Follow these instructions to deploy VET payments in the form of subscriptions:
- Create your account on NOWPayments.
- Provide your VET crypto address to which you would like to receive payments.
- Generate an API key (if it has not been generated automatically).
- Go to the “Payment Tools” section and click the “Subscriptions” button.
- Create an invoice by filling in the required fields (the currency, the order ID, and the price in USD) and specify the billing period when 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.
NOWPayments is a VET payment gateway offering recurring payments tool that enable businesses to accept VET subscriptions.
Continue reading about VeChain and VET
- VeChain payments with Point-of-sale
- Benefits of accepting VeChain on Magento 2
- How VeChain can help charities around the world
- How to use VeChain (VET) in daily life
- VeChain donations for influencers
- VeChain & WooCommerce plugin
- 5 ways to boost your business with VeChain ($VET)
- How to pay salaries in VeChain?
- VeChain & e-commerce plugins
- Top 10 VeChain influencers
- What is VeChain and What do You Need to Know About It?