More and more companies are starting to accept cryptocurrency payments. Many are just thinking about how to start accepting payments when traditional money is not involved. Even in an online shop or online service provider, it is already more possible to buy something with virtual currencies rather than fiat money.
Let's talk about how to start to accept crypto for your services, what are the features of USDT coins, and how to arrange for their processing on your website.
USDT is a so-called Stablecoin; that is, it's from a new generation of cryptocurrency tied to fiat currency. Specifically, this cryptocurrency is equivalent to the US dollar. It is quite popular. The key difference between USDT and Bitcoin, Ethereum, and Litecoin is its stability.
Craig Sellars and Reeve Collins, who developed Tether (USDT), began working on the launch of this cryptocurrency back in 2014, and in 2015 it was launched. Tether has overtaken other stackable currencies in popularity. Its creators have even had some problems with accusations of price manipulation of other cryptocurrencies. The USDT is now fully supported by the dollar, although initially, only a portion of the currency was backed by the cash equivalent, which also caused certain resentment.
Today, the number of users willing to pay with this cryptocurrency is growing. Customers of online shops are practically forcing companies to provide themselves with cryptocurrency payment options.
There are several ways to accept cryptocurrency payments. Some of these will work for you.
Registering a cryptocurrency wallet
Integration of a gateway that provides cryptoprocessing
Developing a payment module and payment page
Transferring funds to a cryptocurrency wallet is similar to using the usual e-wallets or transferring from one bank card to another. Here, the wallet address is used. This method does not allow the process to be automated, so it is not suitable for a large online shop, for example.
For the user to perform all the actions only on your website and for the processing to take place on your page, you will have to spend a lot of effort and time developing your own payment module integrated into the website. This approach has many advantages, but its main drawback is that it is difficult to implement.
In order to quickly start accepting payments on Tether, the company can integrate a special off-the-shelf service, a MEEG gateway that secures transactions on the Internet. To make a payment, the customer only has to choose crypto as a payment method, then choose a specific currency, such as Bitcoin or USDT, then they are given a QR code and cryptocurrency wallet address to which they transfer the funds. The entire transaction takes 10 to 20 minutes.