We dive into the rise of crypto payments in 2023, from reduced transaction costs to industry challenges, leading to a transformative landscape in 2024.
As cryptocurrencies continue to take the world by storm, their acceptance by businesses as a form of payment also shows a promising trend in the financial and commercial sectors alike. One of the major reasons that many businesses have decided to embrace as a payment method is the potential for significantly reduced transaction costs. While traditional payment methods, such as credit card payments, involve the fees of banks and payment processors, cryptocurrency transactions offer lower fees.
While countries such as the USA , others such as Switzerland are , and as of yet, no global standard exists. have brought the topic of digital assets to the national stage more crypto-friendly Meanwhile, the high risk of hacks, scams, and phishing attacks is also important to keep in mind, with businesses needing to be adequately prepared with secure wallets and systems.
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