We may have ever heard the term “cryptocurrencies” and have endured a whole explanation of what they are and how all the types that exist differ. Although cryptocurrencies are known for speculation and investment, they have another application: payments. Yes, many of us are aware of how all this technical system works for transactions and others, but… How can we pay with them?
At least six out of ten people have heard the word on some occasion and what their system is like, but we can be sure that even so they do not know all the wonderful process involved in paying with them. And that is why we want to explain it to you here.
It’s easy to forget that people use various types of currencies to transfer value. Large retailers like Microsoft and Starbucks, as well as small businesses, have started accepting cryptocurrency payments for their goods and services. And although it may seem unbelievable, even the smallest business today receives cryptocurrency and even prefers that they make payments with it.
In the case of Tokken PP23, we can see how it works with companies such as Booking, AirBNB, Iberia, OKMobility, Adidas, Decathlon, and many others, which allowing the use of these currencies gives the market more breadth because of how beneficial it is to work with these.
This is usually done through a payment gateway to simplify the process. Cryptocurrency can even be used to pay for fiat currency items with a cryptocurrency card. Whether you want to send money to a friend or buy an item; there are many ways to use Blockchain technology.
Cryptocurrency payments offer a cheap and fast way to transfer money. It is not necessary to use local fiat currencies to make international transfers. A payment service is usually more intuitive than a wallet and has customer service. On the other hand, a payment gateway offers less control, may charge fees, and takes longer than a normal wallet.
At the simplest level, a crypto payment can be understood as transferring cryptocurrencies from one wallet to another. To do this manually, the recipient’s public address is needed. With your wallet, copy the address and send the money. This may sound easy, but for beginners, the process can be complicated and intimidating. It is not uncommon for users to make irreversible mistakes, such as sending the wrong type of cryptocurrency to a certain address or choosing the wrong blockchain network. Since there is no way to return a cryptocurrency transaction, the losses are often considerable.
And for that reason, we want to provide you with all the information possible so that your transactions are safe and you do not experience the losses that are caused by the lack of advice. Which is just what PP23PROJECT is willing to do in case you feel in a crisis because you don’t understand the process or what you have to do.
Well, another option for cryptocurrency payments is to use a cryptocurrency-linked credit or debit card. What becomes a more practical experience, since with the PP23 prepaid Mastercard card, you can have your bank account, in the currency you want, without any type of maintenance expense. In this way, cryptocurrency payments can be made even if the recipient only accepts fiat currency.
But, to use a cryptocurrency card, you need to store coins and tokens with the card provider. When you buy something, the cryptocurrency provider sells your digital assets for the required amount in fiat and sends it to the payment recipient. In some cases, you can also pay your monthly credit with cryptocurrencies. And the exact terms may vary depending on the issuer or financial institution.
Cryptocurrencies can be used in more places than payment machines. However, it is more complicated to pay directly to a friend, unless they accept card payments.
Depending on the cryptocurrency payment provider, your transactions may be completed almost instantly. This is usually the case when both use the same service. Even if your transaction isn’t instant, it’s usually faster than a bank transfer and cheaper due to lower transaction fees.
A cryptocurrency payment service always has a customer support team to help you with technical issues. This is typically not the case when you manually transfer funds using a deposited cryptocurrency wallet.
A cryptocurrency payment gateway is easier for many people to use than setting up and managing a wallet.
Where can we make our payments in cryptocurrencies? Well, currently you can use the PP23PROJECT Token in the main cryptocurrency exchanges in the world such as: Binance, FTX, Coinbase, Kraken, Kukoin, Bitfinex, gate.io, Huobi, Bitstamp, Mexx, OKK, crypto.com, Poloniex, bitmart
Today, Binance has Binance Pay where you can also make your cryptocurrency payments in an easier way. The service is available to all Binance users with a cryptocurrency wallet and is completely free. Once you have created your account, you can make payments to any other compatible Binance Pay user or merchant.
There is no doubt that cryptocurrencies offer opportunities that allow us to carry out transactions with greater privacy. But yes, there are other occasions when it comes to store payments, the seller has to declare the sale, identify the buyer with an invoice and indicate the amount received in the local currency.
But even so, it is undeniable that ease and versatility are already at our fingertips and are crypto payments. A vivid example may be that now to make a payment with cryptocurrencies, it is enough to know the other person’s wallet, indicate the amount and authorize the transaction. Without failing to take into account that now there are simpler tools such as scanning a QR code, without the possibility of error or carelessness.