Businesses will be able to take Bitcoin and other cryptocurrencies as payment thanks to a cryptocurrency payments gateway recently launched by blockchain firm Basqet.
According to Basqet, 118 businesses have already signed up to begin accepting payments in Bitcoin and a number of other cryptocurrencies, and the company will soon launch a public beta and go live.
Bunmi Eleshin, Senior Product Manager at Basqet, claims that “By doing this, we are bridging the gap between those who own cryptocurrency and companies that want to accept it as payment. And we're doing it without causing retailers to lose money because of the erratic nature of cryptocurrency prices.”
Since Bitcoin entered the mainstream media, there has been a lot of discussion about how cryptocurrencies are the future of money. Basqet could further the acceptance of cryptocurrencies since it will allow individuals to use them for more than just speculative purposes.
However, one of the main issues with using cryptocurrency for payments is the industry's well-known, swift price fluctuations. According to Basqet, they address this by enabling businesses to accept bitcoin as payment and settle accounts in US dollars, cryptocurrency, and more than five other regional African currencies without worrying about cryptocurrency volatility. Therefore, regardless of how volatile the price of cryptocurrencies is, a merchant who sells a product for $20 will always receive the same amount in the currency of their choice.
Basqet is a type of cryptocurrency payment gateway that is comparable to Stripe in the US, Flutterwave in Africa, and Paystack in Europe. They may make it possible for freelancers, business owners, NGOs, and fintech to accept various cryptocurrencies as donations, payments, or deposits in more than 120 nations.
The Basqet team added that during its beta launch, businesses will be able to take a variety of cryptocurrencies, including; USDT, Bitcoin, Ethereum, and Litecoin with several more to be added over the next few weeks.
The payment link, payment button, and Basqet API are the three methods merchants who sign up for Basqet's beta launch can accept cryptocurrencies.
Businesses can use the payment link to take cryptocurrency payments even if they don't have a website, according to Basqet's press statement. Adding that it just takes a business 10 minutes to sign up, create a payment link, and deliver it to their consumer via WhatsApp, Instagram, or any other channel.
THE AFRO: A CRYPTO COIN DEVOTED TO THE ECONOMIC AND SOCIAL DEVELOPMENT OF AFRICA
Blockchain technology has had a significant role in the growth of cryptocurrencies, which are now actively utilized by millions of individuals all over the world.
The AFRO is the first cryptocurrency created specifically for Africa and devoted to the continent's sociological and economic development.
On June 19, 2018, 750 billion AFRO, 600 AFRO were released in accordance with Africa's GDP and monetary stock.
AFRO COIN FOUNDERS COMMITTEE
The Founders Committee, which was established to help and promote the growth of the AFRO cryptocurrency, serves as the foundation's governing body. The Founders Committee is launching a significant awareness campaign to celebrate the introduction of the AFRO cryptocurrency so that a large number of people can learn about and experience with the AFRO as a Pan-African, transregional money.
Bob Thompson is our inhouse Home and Garden, Energy and Gaming news writer. Bob is keenly aware of the need to recycle. Bob has written for many online publications over the course of his writing career, before joining our team.