Cryptocurrency point of sale (POS) systems are becoming popular as more companies and people start using digital money. They let the stores take cryptocurrencies, giving the customer a new and great way to pay. Jump credit cards from the old Soney school in the rates, accelerate payment time and add security. Know the key pieces, the characteristics and how both stores and buyers of the use of thesis systems are won.
What is Crypto’s point of sale?
Crypto Point of-Sale (POS) is a solution to configure a cryptocurrency payment catwalk. It allows customers to pay for products and services with cryptocurrencies quickly and hardly using their mobile devices and their cryptographic wallet. The main benefit of the point of sale system is its convenience, since only a few are needed to generate an invoice that the customer can use to pay. In addition, the POS gateway is easy to use and does not require any complicated configuration.
The payment of the service is a safe way for both the seller and the buyer when he uses cryptocurrencies. It also gives merchants the ability to customize their invoices and generate new ones for each client, which makes post an ideal option for small physical stores that do not need to handle transactions boxes per second.
The point of sale of the cryptocurrency can be based on the web (software) or a hardware/device, similar to the standard post terminals that we use every day.
How does an encryption point sale system work?
Regardless of whether it is an application based on the web or a hardware device, the point of sale systems works Very similar.
Cryptographic terminals are easy to use. All you need to do is enter the amount your client needs to pay in any fiduciary currency, select the cryptocurrency with which you want to pay and the system will automatically generate a QR code.
Your client can use your phone to scan the QR code and pay the amount you previously mentioned with your cryptographic wallet.
Benefits of using Post cryptocurrencies in your physical store
Better security than standard payment methods
All digital assets are compatible with a blockchain system that uses cryptography. Cryptography is an area or mathematics focused on providing end -to -end encryption. Therefore, its transaction is transmitted safely through highly encrypted cryptocurrency mining servers to form a series of blocks that cannot be changed. This reduces the risk of scams, transaction decompositions or power cuts in its point of sale system.
Low transaction rates
By using POS standard systems for transactions, you are entering external suppliers with the responsibility for security. However, when it comes to cryptocurrencies, blockchain networks enable pairs exchanges without any external supplier. The use of an encryption payment catwalk eliminates the need for third -party suppliers, which in turn rediscoses transaction rates to around 1%. On the other hand, standard credit or debit card transactions are subject to a 3%rate.
Better for marketing
He already knows that enacting cryptographic payments is a growing trend when it comes to the future payment method. An effective marketing campaign can be built around a simple motto “we hug the future of digital payments.”
Allowing yourself in front of the competition
No matter how big or small your business is always facing competitors. It can reach a new loyal client base by implementing a quick and safe way to make transactions.
A new richer demographic group
In accordance with an article by Triple-A, In 2021, 46 million people or 13.7% of the total population of the United States, currently have cryptocurrencies. When we take a closer look at statistics, we can see that 44% of cryptocurrency owners in the US. UU. They have an annual income or $ 100,000.
No refunds
Bitcoin transactions are irreversible and can only be reimbursed by the recurring side, a significant contrast with credit card transactions that can be canceled. This means that if you accept Bitcoin, there is no return return.
Read more about how to accept cryptocurrency payments in your brick and mortar shop.
Important aspects to consider before using a POS cryptocurrency system
All rewards come with some risk. There are some factors that you should consider before implementing a post system.
Volatility
It is a well -known fact that cryptocurrencies can be volatile. It is crucial to have a planned strategy for what to do with the coins that recover if you intend to maintain them for a longer period of time. You must decide in advance if you plan to charge at some point and how ofs or if you decide to keep them.
Compliance
The regulations and laws of cryptocurrencies constantly evolve depending on the growing use through the world. Data protection regulations, money laundering and your client’s knowledge requirements are some factors to pay attention. It is important to monitor the changes in compliance or consult a legal expert if necessary.
Security
When a POS crypto is used, there is no third party involved and the transaction is carried out directly between the client and the merchant. You can access the history of the transactions that you made instantly and can remain in anonymity in a world where privacy is an exensive merchandise.
Taxes and accounting
In many countries, tax laws on cryptocurrencies constantly change, since their position is not yet clear. For example, in the US, IRS classifies cryptocurrency as property or a digital asset. Every time you buy, sell or exchange cryptography, it is an taxable event. Take into account taxes before starting to accept cryptocurrency payments.
What digital currency wants to accept?
If you want to accept cryptocurrencies, you must investigate which on your business carefully. Popular cryptocurrencies are Bitcoin and Ethereum, which are a safe bet among users. If you still have bends, do not hesitate to talk to an expert.
What are the different types of point of sale cryptocurrencies?
Let’s explore the two main types of POS crypto systems in more detail. They are web -based applications and hardware devices.
Web -based cryptocurrency point of sale applications
These applications are accessed through a web browser and do not require any additional hardware. Merchants can simply register in the service, connect their digital wallets and start accepting customer cryptocurrency payments. These web -based systems sacrifice a simple and convenient solution for merchants who want to accept cryptocurrency payments without investing in expectation hardware.
In general, such applications can also be installed on Android or iOS, which makes it even more convenient.
Here are some examples of such Crypto Pos applications:
Now payments
Nowpayments is one of the main suppliers of cryptographic payment gateway. They also sacrifice a solution to accept payments through a POS link.
To configure a POS cryptographic link with time values, you must follow these steps:
1) Create an account now payments
2) Add your wallet address
3) Go to Settings -> Co -configuration and select the cryptocurrencies in which you would like. There are more than 100 cryptocurrencies to choose from:
