Why should modern companies enter crypto?

Look at the latest crypto market data; $1T MCAP in Q1 2022, $5,5B AVG daily transactions, and approximately one billion crypto transactions in 2022. 300M onboarded customers and growing. The Crypto market is growing into a massive opportunity. Companies accepting crypto payments in 2022 will gain a competitive advantage in their industry. Have a look at the main components of the crypto advantage.

The increasing number of users

The research on cryptocurrency payments shows the growing number of cryptocurrency users. Eighteen percent of the USA adult population would happily choose crypto payment. Reports confirm that more clients and vendors want to use crypto. Your business stakeholders may start preferring crypto exchange. It is not surprising, as the report shows, crypto can buy real estate, jewellery, and even grocery. It is becoming a mainstream way of payment.

Increasing profit

Apart from buying, selling, and trading, there is also spending. Crypto users look out for ways to spend their earnings. Companies worldwide adopt crypto payments to accommodate the growing number of crypto users. The study shows that more than half of cryptocurrency owners made last year at least one purchase at a value of $100. More spending customers equal higher profit. What business can afford to miss out on it?

Lower transactional fees

Cryptocurrencies are part of DeFi -Decentralised Finance; in simple words, transactions made in this ecosystem do not require bank authorization. A P2P (peer-to-peer) exchange guarantees lower fees, so your business saves up to five percent on each transaction. Does it sound too good to be true?

Real-time turnaround

Traditional payment transfers are slow, not to mention international transfers. Add to that exchange costs, queues of intermediaries, and unexpected chargebacks. Crypto brings a fresh breeze of change. Payments happen here instantly. Suddenly businesses can receive instant payments from anywhere in the world, as long as there is an Internet connection.

Fraud-proof and transparency

Crypto transactions are recorded in a digital ledger called a blockchain, which makes them highly secure and nearly impossible to hack. Each block of the chain consists of encoded transaction information and the data from the previous block. The entire ledger is chained together with encrypted data. Each added block makes the whole chain more secure. The process is also public, making the transaction details visible to anyone. An automated transaction validation process secures the transaction, making the leger changes impossible. Cryptographic techniques and consensus mechanisms guarantee the security of transactions.

Alternative investment asset to cash

Crypto is also an investable asset, a valuable form of investment portfolio diversification, and may serve as an alternative asset to cash that is so vulnerable to inflation. Both banks and financial advisors see strong client cryptocurrency demand for this type of investment.

Upcoming regulations

One of the crypto drawbacks is the lack of legal regulations. The high volatility risks and questionable liquidity stopped many players from entering the market. The situation is about to change. MiCA (Markets in Crypto-Assets) regulation is the EU answer for the internal financial services’ need to use crypto asset potentials. The regulation defines the way to treat certain crypto assets and establishes a secure framework encouraging fair competition and innovation. It brings adequate consumer protection, similar to traditional financial investment protection. The European Council approved MiCA on October 2, 2022, and Q4 2024 should see MiCA enter into force. The document will become the crypto regulatory framework in Europe and a massive door opener into this market for many players.

Lowering entry barriers

The Crypto world is also known for the high technical barriers to entry. The know-how of multiple KYC or digital wallet setups can be confusing and off-putting to many users.

Tiltup addresses the concerns of providing easy-to-implement, simple-to-use, safe and reliable API for your business. Our enterprise software based on fully compliant and regulated fundaments is MiCA ready. Tiltup can leverage your business into the crypto world.

There will be no better time to enter crypto and no easier way to enter crypto than with Tiltup.