The world of business is quite dynamic, companies that want to grow in this fast-paced environment need solid platforms. Businesses must adopt new technologies to thrive in the face of ever-increasing customer demands and fierce competition.

In recent times, we’ve seen a growing interest in cryptocurrencies by individuals from different demographics for different reasons. The ever-growing crypto community has welcomed this but many insist that digital currencies are far from their full potential.

A large part of this argument is subject to its low adoption rate by businesses and organizations. This understandably is due to concerns businesses may have over the volatility and complexity of accepting cryptocurrency in business. However, cryptocurrencies provide very unique benefits to businesses willing to accept them.

Easy Crypto Tools Businesses Can Use To Boost Revenue

As consumers and business owners continue to seek faster, cheaper, and easier ways to pay and get paid, we most likely will see cryptocurrencies become a major instrument for transacting globally. Here are some tools that could help boost your business growth.

Stablecoins

Stablecoins are cryptocurrencies pegged to the price of relatively stable assets, ensuring that their value remains constant over time. This makes them an ideal safe haven asset because, unlike other cryptocurrencies, they face no risk of losing value to price fluctuations. Businesses with idle cash balances can take advantage of stablecoins by lending out their excess cash on decentralized finance platforms. Businesses can also choose to charge stablecoins like USDC for the goods and services they provide. Allowing them to receive payments in a globally accepted currency while also protecting themselves from local currency devaluation.

Crypto Payment Links

Crypto payment links are the easiest way of accepting cryptocurrency in business without having to create an entire website. Payment links are easy-to-use links users generate and share whenever they want to receive payments in crypto. Payment links save users the stress of repeatedly copying and pasting crypto addresses when getting paid. You can easily generate and monitor several payment links in up to 8 different cryptocurrencies using Fluidcoins.

Payment links are great for businesses without a website

Decentralized Finance (DeFi)

Decentralized finance (DeFi) is a collection of applications that use public blockchain technology as a decentralized infrastructure for internet-native financial services and products. This burgeoning new sub-sector of the global crypto markets already offers lending, borrowing, payments, trading, asset management, and insurance. Decentralized Finance (DeFi) has seen rapidly growing trends in the crypto industry, and it may only be beginning. Its ultimate goal is to completely transform financial services. Given the potential impact of DeFi and the many opportunities it provides, businesses with exposure to the sector can benefit in several ways.

Why leverage cryptocurrency in business?

Broader Markets

The low costs involved in entering and expanding across markets make crypto considerably advantageous. Cryptocurrencies promise added flexibility for business owners by giving them access to international markets without having to worry about exchange rates and exorbitant fees. This makes crypto more reasonable and effective compared to available traditional methods.

Attractive Yields

Stablecoin lending currently provides one of the highest yield opportunities for debt investors, offering up to double-digit interest rates. This is fueled by massive institutional demand for stablecoins which provide higher yields compared to savings accounts offered by banks. Stablecoin returns on DeFi lending platforms can be as high as 20%. The importance of both price stability and self custodial nature of stablecoins is evident in countries with declining currencies and unfriendly regulations.

Potential Customers

With the increased use of digital currencies, businesses are able to gain access to a new pool of potential customers. Cryptocurrency users are often considered to be forward-thinking clients who value transparency in transactions. More businesses are finding that important clients and vendors want to engage by using crypto. As a result, accepting cryptocurrency in business may be critical to assuring smooth exchanges with key shareholders.

Access To Alternative Borrowing and Lending

Businesses can easily access DeFi applications like borrowing and lending protocols to finance their business operations. Small and medium-sized enterprises (SMEs), which often have difficulty obtaining bank loans, are among the first to benefit from DeFi. This provides an excellent option for businesses in developing markets. Here, SMEs lack the necessary banking infrastructure to meet their financing needs. Businesses can lend stablecoins like USDC on platforms like Aave and Compound to reduce volatility risks and earn attractive returns.

Getting a head start on cryptocurrency is the best way for businesses to prepare for the digital economy’s continued rapid growth in the coming years. In addition to decentralized access to alternative financial markets and the ability to generate higher yields than conventional investments, it’s evident that businesses require crypto now more than ever.