118 For greater accessibility and convenience, you should aim to offer more than one cryptocurrency as an available payment option, so that your customers feel catered to and will return for more. Think of it like this: it’s like accepting both cheques, cards, cash and transfers in the early 2000s, only now, your options are spread over different tokens instead of different types of fiat payments. 3) Rely on stablecoins when possible The Harvard Business Review calls stablecoins “uniquely positioned to act as a medium of exchange in e-commerce,” and praises stablecoins for enhancing “both the efficiency and reach of e-commerce.” As the name suggests, these coins differ from their more popular, volatile counterparts and have a particular focus on price stability as opposed to the more speculative Bitcoin. 4) Diversify earnings in more exchanges and wallets The collapse of crypto giant FTX, the leading exchange led by wunderkind CEO Sam Bankman-FriedI, has proven a point that many in the industry didn’t want to be forced to believe: no one is untouchable, and no institution is free of risk. That’s why it’s important to diversify and balance your portfolio, whether it be a personal one or a business one, and make sure to spread earnings over different exchanges and wallets. 5) Accepting cryptos will get you more clients From crypto enthusiasts to privacyfocused customers, by accepting crypto payments you’re likely to attract more and more of the kinds of customers who feel left out of the current financial system and want to support businesses like yours. By showing them you believe in what they believe, and you want to stay ahead of the curve, you’ll generate great publicity for your brand and garner a reputation for cutting-edge, forward-thinking business practices. No money can buy that kind of hype! For further information, visit: https://sellix.io
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