• Moon Blocks has partnered with payment processor Bit Pay to enable cryptocurrency-based payments on its platform.
• Bitcoin and many of its crypto cousins were initially designed to serve as payment tools, but many stores and companies have been reluctant to accept crypto payments due to their volatile nature.
• Moon Blocks is embracing decentralization by offering more payment options and flexibility which can attract new clients who prefer to pay in cryptocurrencies.
Moon Blocks and Bit Pay Partner
Web3 and fintech company Moon Blocks has joined forces with payment processor Bit Pay to allow for cryptocurrency-based payments on its platform. This move brings the goals of bitcoin and its digital counterparts closer to being achieved, as they were originally designed to serve as payment tools but have since become more speculative in nature.
Reluctance To Accept Crypto Payments
Many stores and companies have been hesitant about accepting crypto payments due to their volatility, which makes it hard to predict if prices will go up or down over a period of time. For example, a customer could buy $50 worth of merchandise with bitcoin, but if the store doesn’t convert it into fiat currency right away then the price could drop from $50 to $40 in the span of 24 hours. This would leave the store at a loss while still allowing the customer to keep everything he or she bought.
Advantage Of Embracing Decentralization
Moon Blocks understands that accepting cryptocurrency payments can help them position themselves as an industry leader while avoiding high transaction fees associated with traditional payment methods. Additionally, by offering more payment options and flexibility they can attract potential clients who prefer paying in cryptocurreny instead of traditional currencies like fiat money.
Statement From CEO Giuseppe
Giuseppe – CEO at Moon Blocks – said in a statement: We decided to accept crypto because of [many] reasons. Firstly, we want to show that we understand and cater to a crypto-savvy audience to build trust with potential clients. Secondly, by accepting cryptocurrency payments, we can avoid high transaction fees associated with traditional payment methods and potentially offer lower prices to our clients. Additionally, embracing decentralization is at the heart of our philosophy, and accepting cryptocurrency payments can help us position ourselves as an industry leader.“
Conclusion
Overall, this partnership between Moon Blocks and Bit Pay has pushed bitcoin’s original purpose one step closer towards becoming realized; providing people with an easy way for making payments without relying on traditional currencies like debit cards or checks. By embracing decentralization through offering more payment options than just fiat money these companies are hoping that they will be able attract customers who prefer using cryptocurrencies instead when it comes time for making purchases online or in person