Why are cryptocurrency payments not difficult?

Introduction

Cryptocurrencies continue to strengthen their position as a full-fledged business tool; however, many misconceptions still surround cryptocurrency payments — from the alleged ambiguity in the legal field to myths about the complexity of implementation. In practice, accepting payment in Bitcoin or other digital currencies is today easier than it seems. More and more companies around the world are implementing cryptocurrency payments and are already seeing tangible benefits for their businesses — from cost reduction to expanding their customer base.

This article is dedicated not only to debunking common myths about cryptocurrency payments but also to the functions of NordPay in solving traditional payment issues.

As successful examples of implementing crypto payments, we will consider the experience of companies of various sizes — from small online stores to giants like Shopify and Microsoft, whose experience demonstrates the competitive advantages of cryptocurrency payments for any business.

Debunking Popular Myths About Cryptocurrency Payments

The introduction of new technologies often raises concerns, and cryptocurrency payments are no exception. Let's look at some popular myths.

Myth 1: “Cryptocurrencies are used only for illegal purposes”

At the dawn of Bitcoin's emergence, the idea was indeed widespread that digital currencies were only of interest to the criminal sector of the economy. However, modern research refutes this stereotype. The proportion of transactions with illegal activity is extremely low — according to various estimates, less than 1%. Most cryptocurrency operations are related to legal commerce, investments, and transfers.

Myth 2: “It’s too complicated to work with crypto technically”

Many business representatives face the stereotype that setting up and using crypto processing is complicated. In reality, modern providers make integration very simple — it is enough to install a payment widget or connect an API, after which accepting payments in cryptocurrency becomes as easy as card payments. Today, there is no need to understand the intricacies of blockchain: the payment service will take all technical tasks behind the scenes.

Myth 3: “The volatility of cryptocurrencies is too high, it’s risky”

The price of Bitcoin and other cryptocurrencies can indeed fluctuate, but businesses are not obliged to keep revenue in crypto assets with high volatility. There are stablecoins — cryptocurrencies whose value is pegged to a stable asset, most often the dollar or euro.

Moreover, platforms like NordPay offer automatic conversion: the amount can be fixed in the equivalent of traditional currency immediately upon receipt of payment. Thus, sharp fluctuations in the exchange rate do not affect the company’s revenue.

Myth 4: “It’s illegal or not regulated”

In most countries, cryptocurrencies are legal to own and use. Currently, technology is ahead of legislative processes, but they are also actively developing. For example, the European Union is introducing regulations (MiCA) for transparent operation of crypto businesses, while in the US and other countries, there are already requirements for anti-money laundering (AML) related to cryptocurrency payments. The activities of large services like NordPay are based on international standards and do not fall into the illegal field.

Myth 5: “No one pays with crypto, there’s no point in implementing it”

The audience of crypto users is growing every year. According to Triple-A data, about 6.8% of the world's population already owns digital currencies — over 560 million people. Moreover, 65% of them expressed readiness to pay for purchases directly with cryptocurrency. Thus, businesses have access to a new paying audience that prefers modern transactions. Ignoring this audience means missing an effective tool for increasing conversion.

Problems of Traditional Payments in Business

At first glance, it seems that accepting payment in cryptocurrency is complicated, especially compared to traditional payment methods that have been understood and refined over the years. However, in practice, classic payment solutions often turn out to be less advantageous for businesses, and here’s why:

Chargebacks and Fraud

Payments made via bank cards imply the possibility of chargebacks — the withdrawal of payment at the initiative of the client through the bank. Often, unscrupulous buyers take advantage of this mechanism, receiving goods or services and then disputing the transaction. For the seller, this results in direct loss of time and money.

Experts estimate that a significant portion of such incidents is what is called friendly fraud, where there are no violations from the business side. In the case of cryptocurrency, such a scheme is excluded: blockchain transactions are irreversible, meaning the risk of fraudulent returns is eliminated. A refund of funds is possible only at the initiative of the company itself — if the client's request is indeed justified.

High Merchant Fees

Accepting payments through banks and international systems often becomes costly. Just the fee for merchant services on banking cards can reach 3% or more of the transaction amount, and for international transactions, there are additional costs for currency conversion and bank fees. All this represents significant costs for businesses.

Cryptocurrency payment providers, on the contrary, offer more favorable conditions: transaction fees on popular blockchains often amount to just a few cents, and processing payments through the platform costs less than comparable bank services.

Slow Transfers and Delays

The risk of delays in international bank transfers or disbursements through payment aggregators can range from 2 to 3 days, especially for operations between different jurisdictions. This slows down the movement of funds and complicates access to global markets.

Cryptocurrency payments enable interaction 24/7: payments are usually credited within minutes (after the necessary network confirmations). Businesses do not have to wait for payment receipt — the transaction is visible almost immediately, which speeds up all payment and delivery cycles.

Challenges with Tax Accounting and Reporting

When dealing with different currencies and payment systems, a company's accounting department faces additional challenges: it is necessary to account for exchange rates and fees, as well as to collect scattered documentation. This complicates financial reporting and the preparation of tax returns.

Cryptocurrency payments simplify the process: all transaction data is recorded on the blockchain, and modern providers offer ready-made reports with fiat equivalents at the time of payment, the fee amount, and all necessary information.

Problems with traditional payment methods are becoming increasingly evident, prompting more and more companies to seek alternative solutions, including accepting payments in cryptocurrency.

How NordPay Solves These Issues

Understanding the challenges of using classic payment systems and the needs of entrepreneurs, NordPay has developed solutions that make accepting cryptocurrency payments simple and beneficial for businesses. Let’s consider the key features of NordPay and their benefits:

No Chargebacks and Fraud Protection

With NordPay, businesses do not need to fear abuses regarding payment cancellations — cryptocurrency transactions are final, meaning the issue of unscrupulous returns is eliminated. Additionally, NordPay monitors suspicious transactions, providing an extra layer of security.

Protection Against Volatility

One of the main concerns for entrepreneurs is how to deal with price fluctuations. NordPay offers proven mechanisms for protection against volatility: the received cryptocurrency payment is instantly converted into a stable asset (for example, a stablecoin pegged to the dollar) or into fiat at the current exchange rate. Thus, revenues are protected from market changes, and the company always knows how much it will receive in its account.

Low Fees and Transparency

Unlike traditional acquirers, where the final fee consists of many components, NordPay adheres to a transparent tariff policy: both on social media and in the user’s personal account. Fees for processing cryptocurrency payments are minimal and known in advance. Businesses pay only for cryptocurrency processing, with no hidden charges. This allows for reducing payment costs and planning finances more accurately.

Global Reach

Initially, NordPay was created with the needs of clients from the CIS in mind. However, this is a service that is also internationally oriented. Clients and payments from different countries are supported, the interface is available in several languages, and the geography of operations is not limited to one region. Businesses can accept payments from customers worldwide, which is especially relevant for exports and online services.

User-Friendly Reports for Accounting

NordPay understands the importance of accurate accounting. The system generates detailed reports for all transactions: indicating the date, type of cryptocurrency, fee, and other parameters that can be chosen by the user. These reports simplify the data entry into accounting books and the preparation of tax reports. The finance department receives all necessary information in a clear format, saving time on data processing.

Solutions for SaaS Businesses

Companies operating on a Software-as-a-Service model appreciate the ability for regular payments (subscriptions) and automation. NordPay offers tools for integrating crypto payments into subscription models. Clients will be able to pay for services monthly or yearly in cryptocurrency, while the business will receive notifications and funds automatically. NordPay's approach allows businesses to reach a technologically advanced audience that is ready to pay for SaaS products with digital assets.

Support for High-Risk Sectors

Businesses in High Risk categories (such as online gambling, adult services, trading) often face rejections from banks for servicing or high fees. NordPay is supportive of such projects while complying with all compliance requirements. Entrepreneurs in high-risk niches receive a stable payment acceptance channel without discrimination from banks, low fees, and convenient service.

Integration for E-commerce

The platform provides ready-made modules and APIs for integration with popular CMS and e-commerce platforms. Thanks to a straightforward and understandable process, cryptocurrency payments on the site can be connected in just a few steps.

Thus, NordPay eliminates key obstacles to the implementation of cryptocurrency payments: businesses receive technology “turnkey” without the costs associated with self-development and the risks related to the volatility or security of cryptocurrencies.

Examples of Successful Implementation of Cryptocurrency Payments

Let’s consider a few case studies of companies that have successfully implemented cryptocurrency acceptance and benefited from it:

Shopify and Thousands of Online Stores

Shopify is one of the largest platforms for e-commerce. Since 2020, stores on Shopify have been able to accept payments in Bitcoin, Ethereum, and stablecoins through integrations with payment providers. This has allowed thousands of small and medium-sized businesses to expand their audience. Buyers from any part of the world can now pay with cryptocurrency. For the stores themselves, this resulted in increased sales. For instance, according to Cointelegraph, 40% of surveyed retailers believe that accepting cryptocurrency has increased their customer base, while 93% of companies that have already implemented crypto payments notice a positive impact on customer satisfaction metrics.

Microsoft — a Pioneer Among Corporations

As early as 2014, Microsoft was one of the first tech giants to start accepting Bitcoin as payment for content and services (for example, topping up balances in Xbox Live). This move confirmed the legitimacy of the new payment method in the eyes of business.

Today, Microsoft continues to use cryptocurrencies in specific business areas, setting a benchmark for the market. The integration of digital assets at the level of such large corporations serves as an indicator of technology maturity and its readiness for safe use in any business.

Travala: The Success of Cryptocurrency Payments in the Travel Business

The online hotel and airline booking service Travala has shown what results can be achieved by betting on cryptocurrency payments. The platform was initially created with a focus on the crypto audience and now offers payment in more than 50 different cryptocurrencies: from Bitcoin to its own booking tokens.

In 2022, Travala integrated offerings from Expedia and Booking.com, opening the possibility to book over 2 million hotels worldwide using cryptocurrency.

This led to explosive growth metrics: the volume of bookings on Travala in the first half of 2022 increased by 500% compared to the previous year, with up to 70% of orders being paid for by customers in cryptocurrency.

The company reported achieving a record monthly revenue, proving the effectiveness of the “Travel + Crypto” model. Cryptocurrency payments allowed Travala to reach a global clientele without relying on banks and traditional payments, reducing transaction costs and attracting a loyal community of users.

Overstock — Betting on Innovations in Retail

American online retailer Overstock.com was one of the first to accept cryptocurrency from customers back in the mid-2010s. Just a few months after launching the new option, sales in cryptocurrency made a significant share of revenue. Overstock's management noted that this attracted customers who previously shunned purchases due to a lack of convenient payment options.

The Advantages of Cryptocurrency Payments for Any Business

Implementing payments in cryptocurrency gives companies competitive advantages, the importance of which is increasing every year. This is relevant not only for IT companies or startups but also for businesses of all levels:

Attracting a New Audience

Cryptocurrencies attract young and tech-savvy buyers. According to a Deloitte study, almost 85% of surveyed companies in retail believe that accepting cryptocurrencies helps in attracting and retaining customers. By offering a modern payment method, businesses demonstrate openness to innovations and can gain the loyalty of an audience that previously avoided them.

Reducing Transaction Costs

The same Deloitte data shows that 77% of companies report savings on fees due to cryptocurrency payments. Low fees and the absence of additional bank charges mean that a larger share of the funds from the customer remains with the company.

No Chargeback Risks

Cryptocurrency transactions do not have the concept of enforced payment reversal. For businesses, this means protection against certain types of fraud and financial stability — each payment will reliably remain in their cash register unless they themselves decide to refund the customer.

Accelerating Financial Operations

Instant crediting of funds enhances liquidity. The company can immediately use the received revenue — to pay suppliers, cover salaries, reinvest. This is especially important for small businesses, for which each day of payment delay affects working capital.

Simplifying Market Entry

Cryptocurrency payments are inherently international. A business that integrates this payment method automatically becomes available to clients from any country, without needing additional setups for local banks. There is no need to open numerous bank accounts in different jurisdictions — just one crypto wallet or a NordPay account is sufficient to accept payments from around the world.

Improving Image and Competitiveness

By offering a new advanced payment method, a company positions itself as modern and customer-oriented. This distinctly differentiates it from competitors who stick to only conservative solutions. As surveys have shown, about 40% of businesses expect that introducing cryptocurrencies will enhance their brand's technological image in the eyes of the public. But beyond image, there are tangible figures — over 90% of companies that already use cryptocurrencies report a positive effect on key metrics (increased sales, higher satisfaction).

In other words, cryptocurrency payments have ceased to be mere fashionable technological trends. They are a functional tool that, when used correctly, provides real benefits here and now. Moreover, whether it’s a large corporation or a small business — the scales of the profit will vary, but will be significant in both cases.

Conclusion

Cryptocurrency payments have transformed from a niche phenomenon into an understandable and accessible tool for business. Today, in 2025, adding cryptocurrency acceptance can be done in just a few clicks — a reliable cryptocurrency processing provider (such as NordPay) will take care of technical integration, risk management, and compliance with regulations. As a result, the company immediately begins to enjoy the advantages: cost savings, an influx of new customers, faster settlements, and enhanced reputation.

Contact us and get advice on how to quickly and safely implement cryptocurrency payments. We will help you set up a convenient and reliable system that will make your business even stronger and more competitive.