Crypto Payments Now Possible with Moon Blocks and Bit Pay
- Web3 and fintech company Moon Blocks has partnered with payment processor Bit Pay to allow for cryptocurrency-based payments on its platform.
- The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved by making them usable tools that everyday people can benefit from.
- The partnership between Moon Blocks and Bit Pay enables the company to offer lower prices to its clients, while also embracing decentralization.
Moon Blocks and Bit Pay Partnership
Web3 and fintech company Moon Blocks has joined hands with payment processor Bit Pay to allow for cryptocurrency-based payments on its platform. The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push checks, credit cards, and fiat currencies to the side, but this has been a relatively slow journey given the volatility that continues to drag them down.
It is extremely hard to understand when bitcoin and its crypto family will go up or down when it comes to their prices. Many stores and companies have been reluctant to say “yes” when it comes to accepting crypto payments for this reason, and we can’t blame them. Consider the following scenario: someone walks into a store and buys $50 worth of merchandise with bitcoin. For one reason or another, the store doesn’t trade the BTC into fiat right away – 24 hours go by -and from there, the price of BTC goes down so that $50 becomes $40. The customer gets their items but in turn, this leaves the store feeling like they lost money. This situation highlights why some retailers may be hesitant when adopting cryptocurrencies as legal tender.
Moon Blocks‘ Goals
This is what makes enterprises like Moon Blocks so important; they understand why cryptocurrencies were created in order bring forth an alternative form of payment method outside banks/traditional methods such as credit cards etc., thus allowing users more flexibility when making transactions online/offline stores etc.. Giuseppe – CEO at Moon Blocks – said in a statement: We decided [to accept crypto] because of [many] reasons … Firstly we want show that we understand & cater [to]a crypto savvy audience[in order]to build trust with potential clients[& secondly by accepting cryptocurrency payments],we can avoid high transaction fees associated with traditional payment methods & potentially offer lower prices[to our customers]. Additionally embracing decentralization is at heart[of our philosophy],& accepting cryptocurrency payments can help us position ourselves as leader[in industry]. To end in offering more payment options & flexibility we can attract retain clients who prefer pay cryptocurrencie
In conclusion, Moon Block’s partnership with BitPay allows them to provide customers with secure cryptocurrency-based payments rather than relying solely on traditional methods such as checks or credit cards which are often subject high transaction fees – This allows users more flexibility when making transactions online/offline stores etc..