How can web services accept payments in 4,000 cryptocurrencies

The number of verified crypto users has grown from 3 mln in 2016 to over 400 mln in 2022.

These numbers demonstrate that the crypto adoption rate is increasing rapidly. In most cases, those verified crypto users are people who have funds.

The trend shows clearly that this number is going to grow further. That’s why those businesses that have already integrated Bitcoin and Ethereum payments get a competitive advantage compared to those who still haven't done it.

Among top companies that have already integrated crypto as one of the possible payment methods you can find:

AirBaltic – the company accepts payments in Bitcoin, Ethereum, and 10 more top coins.
Adidas – clients can pay in their stores with over 12 cryptocurrencies.
Hotels.com allows its clients to make bookings with over 12 crypto coins.
Bitstarz, one of the leading online casinos, not only supports Bitcoin but also offers welcome bonuses in this coin.

The list can be continued but it is possible to see that the companies that accept crypto, even if those are just a couple of coins, are benefiting greatly from it. And over time, the number of such companies is increasing.

Fiat Money and Crypto

While national currencies are still accepted as legal tender, their use is limited to specific locations only. While the use of cryptocurrencies is unlimited.

Now, there are thousands of crypto coins and tokens in the market, and their number is growing every day. It enables users to send any coins and receive funds in any preferable cryptocurrency.

If your company’s crypto adoption is limited to the main coins only, you might be missing out on clients and profit.

What benefits can you get when integrating more crypto coins?

Your Service Will Attract More Users

Adding more cryptocurrencies to your list of crypto coins available for payments will attract those users who don’t limit themselves to Bitcoin or Ethereum.

The User Retention Rate Will Grow

The retention rate will boost if you integrate more coins available for payments. This opportunity will ensure your clients and users can choose whatever is more convenient for them and thus, prefer your service rather than your competitor that accepts the major cryptocurrencies only.

More Profit for Your Business

More clients or users means more profit for your business.

Of course, adding many cryptocurrencies as a means of payment is a lengthy and costly process. Various blockchains, market volatility, and the need to maintain a large development team… It seems that the game is not worth the candle. But what if you can accept payments in thousands of different crypto assets while supporting only one (Bitcoin) or a few of the leading coins (Bitcoin and Ethereum)?

In fact, there is such a possibility. It is necessary to choose reliable crypto processing.

How to Choose the Right Crypto Provider for Your Business?

When selecting a crypto provider for your business, you need to consider several factors.

Number of Supported Coins

You never know what the preferred cryptocurrency of your potential customer is. Even if you support major cryptocurrencies such as Ethereum and Bitcoin, it is not sufficient. Many users would prefer to use a wider range of coins, and their absence will impact your profit level negatively.

In this case, you can opt for a deposit with conversion or sending funds with conversion functionality. How does it work? If your client wants to pay with a coin that you don’t support, you can let him do it. The user sends the coin, the coin is converted to the one your service supports, and the user gets the service of the product he has paid for.

LetsExchange offers this functionality. With it, you can enable your clients to pay in over 4,500 coins and tokens without expanding the number of coins supported by your service.

Ease of Integration

The integration shall not be too complex. Take LetsExchange API for example – if you already support crypto as one of the payment methods, you just add the new integration to the existing scheme. If your company doesn’t accept crypto, you need to draw the entire flow but still, it is much simpler than with many similar services.

Earning Opportunities

If you can earn from each transfer your clients make, it can be considered a significant advantage. So it is reasonable to choose a provider that offers an option to create an additional income flow or reduce transaction costs for users. With LetsExchange, you can discuss this option individually to ensure maximally profitable and effective collaboration.

Additional Benefits

Integrating crypto as a payment method already provides your business with many advantages. But if you get more benefits, it is better. Which ones? As an example, with LetsExchange, you can count on extensive marketing support: reviews of your service, interviews, press releases, etc. Another benefit is 24/7 customer support service that will help you and your clients with any issues or questions they have.

Conclusion

Fiat money is limited and strictly regulated. Crypto gives you and your clients more freedom and offers your business more benefits. The sooner you expand the number of coins accepted for payments the more chances your business has to thrive in a highly competitive environment.