Crypto payments are becoming more relevant, and Forex does not remain on the sidelines
The popularity of cryptocurrency is growing rapidly in many countries. This can be treated differently. Some see cryptocurrency as a new reality when it comes to payments. Others just want to make money from this. Some are convinced that cryptocurrency popularity is a temporary phenomenon.
In any case, the use of cryptocurrency as a means of payment is becoming more relevant, and Forex does not remain on the sidelines. In this article, we will talk about the benefits of cryptocurrency payments.
Advantages of paying with cryptocurrency
Rationality. Getting card processing for an unregulated Forex project in Russia, Ukraine and Europe can be a difficult task. But accepting payments in cryptocurrency solves this problem, even if you don’t have a license. For some payment solutions, it is not even required to have a company.
Safety. If you receive payments in traditional currencies made through a payment system or a P2P service, there is a possibility that you will encounter one of the following problems:
● cancel the transaction due to various reasons;
● have chargebacks;
● check transactions by a regulator and freeze funds during these checks;
● blocking of accounts or cards.
The situation is different with the acceptance of payments in cryptocurrency. Transactions made in the blockchain are irreversible, so no reversal is possible. Moreover, neither a regulator nor an international payment system nor an acquiring bank can affect the blocking of transactions or the freezing of funds, as these participants are not presented in the chain. Nevertheless, it is necessary to keep in mind the secure storage of the passwords of your crypto wallets, since in case they are lost, there is no way to regain access to the wallets.
Speed. An operation in the blockchain lasts no longer than several minutes. You can use a payment immediately after receiving; or a transaction can be settled on the same day, if you work through any payment system. In some cases it may take several days.
If card processing is involved, the funds’ receipt process is also carried out quickly. But first, you get money on a merchant account in the payment system, and it is possible to transfer these funds within a time period specified in the contract with the payment system. Such a period can last from several days to a month. Thus, you will be able to have money at your disposal after that time period.
Convenience. Traders do not need to purchase cryptocurrency using third-party services to deposit funds into their trading accounts. Most modern payment solutions propose that this process be carried out through one service, similar to an online payment from a bank card. Also, due to the features of certain payment systems, no information about the purchase of cryptocurrency is displayed.
Accepts cryptocurrency on the UTIP platform
Specialists from the developer company of the UTIP trading platform actively monitor the current situation in the payment acceptance market, adapting to the modern realities of high-risk work. There are 15 payment solutions integrated into the UTIP platform, which make it possible to work with cryptocurrency.
The demand for such solutions is growing, so it is no surprise that several payment systems integrated into the UTIP platform are about to start working with cryptocurrency.
To connect to a cryptocurrency payment solution, please contact UTIP’s sales department.
In addition to payment solutions, the UTIP company develops its own software for Forex and crypto brokers, assists with the registration of companies and delivers turnkey solutions. You can learn more about these offers and other features on the UTIP company’s website.
The popularity of cryptocurrency is growing rapidly in many countries. This can be treated differently. Some see cryptocurrency as a new reality when it comes to payments. Others just want to make money from this. Some are convinced that cryptocurrency popularity is a temporary phenomenon.
In any case, the use of cryptocurrency as a means of payment is becoming more relevant, and Forex does not remain on the sidelines. In this article, we will talk about the benefits of cryptocurrency payments.
Advantages of paying with cryptocurrency
Rationality. Getting card processing for an unregulated Forex project in Russia, Ukraine and Europe can be a difficult task. But accepting payments in cryptocurrency solves this problem, even if you don’t have a license. For some payment solutions, it is not even required to have a company.
Safety. If you receive payments in traditional currencies made through a payment system or a P2P service, there is a possibility that you will encounter one of the following problems:
● cancel the transaction due to various reasons;
● have chargebacks;
● check transactions by a regulator and freeze funds during these checks;
● blocking of accounts or cards.
The situation is different with the acceptance of payments in cryptocurrency. Transactions made in the blockchain are irreversible, so no reversal is possible. Moreover, neither a regulator nor an international payment system nor an acquiring bank can affect the blocking of transactions or the freezing of funds, as these participants are not presented in the chain. Nevertheless, it is necessary to keep in mind the secure storage of the passwords of your crypto wallets, since in case they are lost, there is no way to regain access to the wallets.
Speed. An operation in the blockchain lasts no longer than several minutes. You can use a payment immediately after receiving; or a transaction can be settled on the same day, if you work through any payment system. In some cases it may take several days.
If card processing is involved, the funds’ receipt process is also carried out quickly. But first, you get money on a merchant account in the payment system, and it is possible to transfer these funds within a time period specified in the contract with the payment system. Such a period can last from several days to a month. Thus, you will be able to have money at your disposal after that time period.
Convenience. Traders do not need to purchase cryptocurrency using third-party services to deposit funds into their trading accounts. Most modern payment solutions propose that this process be carried out through one service, similar to an online payment from a bank card. Also, due to the features of certain payment systems, no information about the purchase of cryptocurrency is displayed.
Accepts cryptocurrency on the UTIP platform
Specialists from the developer company of the UTIP trading platform actively monitor the current situation in the payment acceptance market, adapting to the modern realities of high-risk work. There are 15 payment solutions integrated into the UTIP platform, which make it possible to work with cryptocurrency.
The demand for such solutions is growing, so it is no surprise that several payment systems integrated into the UTIP platform are about to start working with cryptocurrency.
To connect to a cryptocurrency payment solution, please contact UTIP’s sales department.
In addition to payment solutions, the UTIP company develops its own software for Forex and crypto brokers, assists with the registration of companies and delivers turnkey solutions. You can learn more about these offers and other features on the UTIP company’s website.
