In today’s world, data is everything. While this seems the most crucial part of a digital world, there are also some threats causing great trouble for the ones trying to establish their lives around the data. This is when people use VPNs to save themselves from data theft and especially companies. While there are many free VPNs available, it is always recommended to use the paid ones because of the data security.
The question is how to pay for the VPN. Yes, you have a credit or debit card option, but you can also buy VPN using bitcoin or any other cryptocurrency. But why use crypto? Well, there are various reasons for it. Let’s have a look at the benefits of using Crypto as your payment and then you can decide on your VPN purchase too.
How many consumers are using crypto for daily payments?
Customers have a variety of ways to pay with cryptocurrencies, such as paying a merchant directly (for instance, Overstock.com), sending a peer-to-peer transaction through a digital wallet (for instance, PayPal), using a specialty card (for instance, the Visa-branded Coinbase card), buying a merchant gift card, or using a Bitcoin ATM to convert cryptocurrencies into fiat currency.
Our survey reveals that across a range of industries, including retail, grocery, restaurant & fast food, and travel & entertainment, 16% of Americans have made at least one purchase using cryptocurrency as a form of payment.
Benefits of Crypto as payment
Most people are still concerned while using crypto as a payment, but surely they are still unaware of the benefits of crypto. Other than the fact that it is completely safe and your own property, there are many other benefits waiting to be discovered too.
- It saves money
U.S. businesses have spent billions on processing fees for credit and debit cards over the years. Because cryptocurrencies are decentralized, every transaction does not need to be verified by a bank. This implies that your company will do away with those charges and save 2 to 5 percent on each transaction. The same applies to businesses like Stripe and PayPal. Your hard-earned money won’t be shared with financial institutions anymore.
It’s vital to keep in mind that many merchant wallets impose a flat fee, which is typically a predetermined sum. We all have to make decisions on payment and whether or not we are ready to accept change and the associated learning curve.
- You can avoid fraud
With cryptocurrencies, you either have the money or you don’t, similar to cash. Additionally, since mining is how transactions are uploaded to the blockchain, you should be aware that all cryptocurrency transactions are final.
Thanks to this technology, which verifies your finances, it is almost impossible to spend more money than you have. For every cryptocurrency transaction, both sides must agree. There won’t be any disputes to resolve and there won’t be any chargebacks as a result.
- Pay lower fees
The setup fees for many payment processors as well as transaction fees are the responsibility of the merchant. For instance, PayPal charges about 4% for each transaction (and sometimes more). Cryptocurrencies rarely, if ever, have fees. Some Bitcoin exchanges charge 1% or less in fees. Similarly, if your company deals with clients from abroad, cryptocurrencies can help you avoid currency conversion fees. This is so because cryptocurrencies are not connected to any one government or central bank. Businesses don’t wait for payments to clear a foreign bank or incur fees as a result.
- Stay in control of your money
Cryptocurrency returns true ownership of money to the people, including companies. Upon receiving payment in bitcoin, you have the option of keeping it as it is on the blockchain or immediately exchanging it for a local fiat currency using third-party payment processors.
Although accepting Bitcoin payments on your own is simple, collecting several coins at once without assistance can rapidly turn into an endless bother and a tax nightmare.
Due to this, most businesses choose not to deal with creating their own cryptocurrency payment rails and instead engage with organizations that can do the task for them and even provide the flexibility they never imagined having.
- Increased Loyalty And Trust
A cutting-edge business experience that drastically differs from one consumer set to another is necessary to maintain customer loyalty. The capacity to deliver loyalty in a way that impacts your audiences, including the ability to pay in a way that they feel comfortable about, depends on having extensive, robust data about your customers instantaneously. As with search and suggestions for today’s consumer, personalization plays a big part in loyalty today. With Cryptocurrency, you can safely claim the privacy you offer not only to your team members of the office but also to the clients.
- High level of privacy
You need to give considerable personal information in order to carry out transactions through a bank. You don’t need to submit any personal information to make a payment using bitcoin, and all transactions are private.
Each coin has a different level of privacy and anonymity. For instance, the privacy-focused cryptocurrency coins Monero, Dash, CloakCoin, and Verge are well-known.
- Buy VPN anonymously with crypto
Crypto such as bitcoin gives you a way to buy VPN anonymously. The blockchain, a digital public log of all cryptocurrency transactions on the bitcoin network, actually keeps track of the sender, receiver, and amount of every transaction. Regardless of whether you use a VPN or not, the blockchain will store the wallet addresses of the sender and recipient as well as the amount of bitcoin transmitted.
However, just the wallet addresses associated with each transaction are saved, and there is no guarantee that a wallet’s owner is who they claim to be. Additionally, it’s easy to buy VPN without leaving a trace and enjoy trading cryptocurrency while using VPN.
Many people may find this fictitious anonymity to be sufficient, but if you truly want to use bitcoin anonymously for something like a VPN subscription, be prepared to use it as many of the VPN providers are accepting bitcoin as payment. The subscription price depends upon the same dollar rate and adjusts according to the current bitcoin price. Astrill VPN is one of them and considered to be best in terms of crypto payment, privacy and speed. It boasts about multiple servers in more than 55 countries and offers several subscription plans based on the user’s needs.
Customer demographics for crypto adoption
Although it is becoming more popular among all people, some categories are significantly responsible for the adoption of cryptocurrencies. more specifically, younger, better educated, and wealthier customers. According to our data, these kinds of customers are early adopters of cutting-edge technologies and payment options like digital wallets. They are seeking payment flexibility.
FAQs
- Why should we accept cryptocurrency?
Most of the time, it makes sense to accept cryptocurrencies. It is being used by consumers more frequently. Acceptance is an excellent choice because of the advantages, including reduced fees than with credit and debit cards, the inability to reverse transactions, and real-time bank balances.
- Are people getting scammed with crypto?
Recent scams include Ponzi schemes, phishing, and rug pulls. Scams always follow when money is involved. The same applies to cryptocurrencies. Wormhole, a cryptocurrency exchange platform, suffered a $320 million loss as a result of a cyberattack in February 2022.
- What happens if a crypto wallet goes out of business?
The investors will rank last among unsecured creditors if the cryptocurrency wallet or exchange declares bankruptcy, which means they are likely to receive nothing at the conclusion of the bankruptcy. Although they are more difficult to use and sell, non-custodial cold wallets are safer to keep cryptocurrencies.
Bottom line
If you are trying to get VPN services and trying to pay as a safe transaction, keep the benefits of crypto mentioned above in mind. You might have your concerns, but with the benefits, there are also various risks to come along. Mainly, the unpredictability can be quite an issue, however, if your purpose is to get VPN, crypto is the best option for you.
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