By now, we have already witnessed several generations of blockchain technology. The Bitcoin network revolutionized finance, but it soon was outperformed by the Ethereum blockchain, which offered more tools to users. Today, we can see the rise of the third generation of blockchain technology, and VeChain is a prominent example of it. VeChain can be described as Ethereum on steroids since it took the best features of Vitalik Buterin’s platform and improved them. VET is the native token of VeChain that eCommerce businesses can accept as payment.
Key Points:
- VET is the utility token of VeChain.
- VeChain plugins from NOWPayments enable online stores to receive VET as payment.
- NOWPayments’ plugins are designed for platforms such as PrestaShop, WooCommerce, Zen Cart, Shopify, and other platforms.
What is a VeChain?
VeChain is a network which was created primarily for enterprises. Thus, companies can build their blockchain solutions on top of VeChain’s network. VeChain already works together with brands such as PwC and Walmart China. Moreover, there are plenty of companies that do not disclose their partnerships with the platform. VET is the native token of VeChain, and it serves different purposes in the ecosystem. For instance, it is used to pay for gas fees as well as for smart contracts which users can deploy.
Benefits of accepting VET on e-commerce plugins
Instant payouts
NOWPayments’ eCommerce plugins let businesses receive payments from clients in a matter of seconds. VET transactions themselves are among the fastest in the industry. Thanks to the advanced technological solutions used in the VeChain blockchain, VET transactions take approximately 10 seconds. Since NOWPayments guarantees instant payouts to its clients, businesses accepting VET through plugins can receive their funds in under 1 minute. Moreover, it does not matter where the business and its customers are located geographically.
Free and easy deployment
The plugins NOWPayments offers to businesses are free to deploy. Essentially, you are not required to pay for the installation process and can do it anonymously by simply providing your email address and generating an API key. The deployment process itself depends on the platform used by the merchant, whether it is PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, or Shopware. Nevertheless, integrating these plugins will not take more than 15 minutes of your time.
Low fees
NOWPayments charges its partners only for the payments they receive. The fees set by NOWPayments are among the lowest in the industry, starting from a mere 0.4%. Compared to numerous bank fees, which merchants have to pay regularly to ensure that their payment system does not shut down, VET payments constitute a great choice.
Best plugins to accept VET crypto
PrestaShop
PrestaShop presents thousands of merchants around the world with an extensive range of tools that are necessary for the creation of a modern and client-oriented online store. PrestaShop has an open-source code which means that the service is constantly getting new features. NOWPayments further expands the abilities of PrestaShop stores to accept VET payments.
WooCommerce
WooCommerce is a platform which is integrated with WordPress. WooCommerce is simply an eCommerce solution, which, at the same time, presents merchants with unlimited possibilities. Users of WooCommerce can customize their online stores to fit their needs. If you wish to add the VET coin as a payment method to your WooCommerce store, then use the NOWPayments plugin.
Zen Cart
Zen Cart is another open-source project built for eCommerce stores. Zen Cart is completely free for its users, so it is perfect for small shops that do not yet have resources to spend on an expensive subscription. Zen Cart plugin from NOWPayments all of the businesses that rely on the platform to accept VET.
Shopify
Shopify is one of the most popular solutions among eCommerce stores since it is suitable for both small shops and massive enterprises. There are more than a million stores hosted on Shopify. Thanks to NOWPayments’ plugin, all of these stores can begin to accept VET as payment in a matter of minutes.
Conclusion
VET is the native coin of VeChain, a blockchain which is widely utilized by enterprises. NOWPayments enables online stores to accept VET as payment. In addition to VET, eCommerce businesses also can accept more than one hundred cryptocurrencies using special plugins.