Should Your Business Accept Stablecoins?
A stablecoin, as the name suggests, is a type of Cryptocurrency that maintains a stable price range on almost every occasion. And, how does it do so?
Well, it does so by pegging the value of another asset class, like gold or fiat currency. In most cases, the price of these assets doesn’t change too much. So, as long as their cost isn’t dropping, you won’t have to worry about the stablecoins getting unstable as well.
So, does that mean these coins are a safer bet?
Yes, they are. And, for that reason, it might be ideal for a business to accept them. But, more on that later. Let’s talk a little more about stablecoins and how they work first.
How Does Stablecoin Work?
The world of Cryptocurrency, albeit having a huge investment potential, can be quite a dicey asset. And, that’s all because of the volatility it comes with.
However, there’s a silver lining to everything.
If you’re thinking about investing in an unstable Cryptocurrency, you’ll get a 50% chance of earning double of what you’ve invested. So, that’s a plus.
Nonetheless, many people still hate the idea of having to depend on their luck, as they have a 50% risk of losing all their money too. And, that’s where stablecoins come in.
They usually don’t come with a massive value, like Bitcoin. However, you’ll get to eliminate the subtle risk factor of the Crypto world with it as well. The stability can also help you make a proper investment plan as you don’t have to think about the volatility anymore.
What Does It Mean For A Business, Though?
Well, it means that you’re earning something that will maintain its value for a prolonged time period. And, if you are lucky, the price of it might increase to some extent as well. But, that’ll only happen as long as people are making an investment in that aspect.
However, that’s not the only thing that makes people accept stablecoins as a form of payment. There’s a lot more to it. Let’s keep reading, then.
Benefit – 1: Quicker And More Efficient.
Stablecoins work in a much more stable and efficient environment as a whole. Therefore, they can offer a higher speed and efficacy in almost every aspect. And, if you are using a safer trading app, like bitcoin loophole, no one will be able to intercept your transaction too!
Benefit – 2: Perfectly Anonymous.
Stablecoins are highly borderless and anonymous. If you’re not updating your personal data in the database, no one can find who’s sending the money and from where. This, sequentially, can save you from getting attacked online to some extent.
Benefit – 3: Lower Transaction Fee.
Like any other Cryptocurrency module, the transaction fee of a stablecoin is quite low too. In some cases, it gets even lower than one percent depending on the platform you’re using. So, if you want to save your money, we’ll ask you to choose your favorite trading app carefully.
Benefit – 4: Highly Transparent.
Whenever you make a transaction in a blockchain-based environment, it keeps a copy of it in a block. Hence, if you ever needed to check it out for some reason, you’ll find it on the exact spot of your trading app. This, in turn, can make a transaction highly transparent.
Benefit – 5: Programmable Or Customizable.
A stablecoin, in essence, is fundamentally curated by codes. Hence, if you have some sort of knowledge in this regard, you can easily add a feature or two to it. It’ll increase the value of the coin and ensure that you get more money when selling the same.
So, What’s Going To Be Your Decision?
In our opinion, accepting stablecoin for an organization can certainly be amazing.
It can help you serve more people, make your business appear technologically advanced, and much more. However, there’s a hitch.
Unlike Bitcoin, many people still don’t have any idea about what a stablecoin is. So, it’ll be a little difficult for you to use it as an “appealing factor” to choose your business.
But, if you’re looking at the future and want to prepare your business for the surge of Crypto, you should go for it. Just don’t forget to use a stable and secure transactional platform. That’s all!
This article has been published in accordance with Socialnomics’ disclosure policy.