Crypto Payments: Dealing with Volatility

[Cryptomus]

Due to its popularity and rapid evolution, many online businesses are willing to start accepting cryptocurrency as a payment method. It could widen the amount of customers by enabling fast, cheap and worldwide payments. But some people are afraid of crypto’s instability. Indeed, even Bitcoin’s price by the end of the day might drop by half or rise to a new all-time high. And if such a giant is subject to heavy price swings, we can only imagine how badly it can be for less famous tokens. This phenomenon is called high volatility, and if traders can benefit from it by playing on price swings, businesses want stability and predictability, especially when it comes to accepting payments in a way that is still new to the most people.

What's the decision? Stablecoins. They are still crypto, but their price is pegged to the “real” fiat currency. The most used stablecoin is USDT — a token with a price mirroring the USD value. However, if you decide to integrate crypto payments, integrating just one coin is not a good idea. There are many popular coins like Ton, Litecoin, or Bitcoin itself, which are preferred over stablecoins by many users. The solution is simple: you can use a payment gateway that provides an autoconversion feature. It basically means that any crypto payment will be automatically converted into a stablecoin of your choice. This will keep your funds safe from the highly volatile crypto market while still providing your customers with the most comfortable payment method for them.

At the end of the day, crypto payments are a great way to boost your business, and you shouldn’t reject it because you fear the volatility. Look for a gateway that provides autoconversion, accept payments in stablecoins and never again worry that you might lose your money. Become a modern business that follows trends and evolutionary tech while still playing safe and keep your income secure.

What do you think: is volatility of crypto a significant disadvantage or is it possible to work with it?

[Nefetiti]

I usually convert the crypto to stablecoin as soon as I receive it. It helps avoid sudden value drops and makes bookkeeping way easier on my end.

[RagenVox]

I’ve been using automated tools to handle this, and the Quantum AI Platform has been surprisingly helpful for converting crypto payments right after they come in, which lowers the chance of losing value during swings. I just set a threshold and it swaps into stablecoins as needed. It’s taken a lot of stress out of accepting crypto from clients.