With the increasing acceptance of Bitcoin, customers are on the lookout for companies that take Bitcoin for payment, many businesses have started offering cryptocurrency payment solutions to enable crypto payments. Just over 10 years ago, all transactions were conducted in fiat currencies but with an increasing number of people switching to cryptocurrency transactions and the emergence of more and more websites that accept Bitcoin, providers of services linked to fiat currencies have felt the impact.
A cryptocurrency payment service allows businesses to receive cryptocurrency as payment for goods and services. It acts as an intermediary between the buyer and receiver and also involves recording the transaction on the blockchain. It is similar to the traditional processors in the sense that, a payment service procedure enables authentication and processing of a transaction. The payment service for a traditional fiat processor securely records and transmits the necessary details of the payment, authenticates the credentials and enables the transfer of money, issuing a confirmation to the parties involved.
Crypto payments are much cheaper due to lower transaction costs. They charge a flat 1% fee to the merchants some as low as 0.5%, compared to 2% — 3% charged by a fiat processing service. Cryptocurrency payment services also offer safe, transparent and dependable way of receiving payment in any amount across the globe within the highly dynamic exchange rates amongst crypto and fiat currency . Fiat money is a currency established as money often by government regulation. Fiat money does not have. Its value is maintained by the government or parties engaging in exchange agree on its value
Spore NFT allows a cross-chain payment with multiple type of cryptocurrencies as well as on ramp off ramp solution for users with Fiat currencies.
About Spores
Spores network is a cross chain DeFi powered NFT market place that seeks to Define decentralized pop culture. It’s main aim is to build a full stack NFT platform consisting of an NFT meeting portal in the marketplace for trading NFT’s supported by cross-chain DeFi protocols which is user friendly. Spores is currently Asia’s top NFT marketplace. Spores seeks to Give creators the power to Create, exchange, and communicate their lifes work, supported by cross-chain interoperable and frictionless protocols on multiple major blockchains (Ethereum, BSC, Cardano, Solana, Polkadot, Avalanche, Cosmos), which solves the addressed limitations of the NFT industry.
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