Blockchain payment accepting

Idea: To allow customers to buy goods and services in cryptocurrencies, in addition to "classical" currencies.

Functioning: First possibility is to receive cryptocurrencies on your own - in that case it is enough to provide customers with an address to which they should send the funds and after payment confirmation he can receive a service. Second possibility is to cooperate with a specialised company (for example BitPay), that allows businesses to receive payment in cryptocurrencies without the need to manipulate with them. These services immediately sell the received cryptocurrency and in regular intervals send money to the business's bank account.

Advantages: Because payments are received in cryptocurrencies, it is very easy to receive quick payments from all over the world - regardless the customer's country. Payments in cryptocurrencies are from their nature irreversible, in contrast to card payments, which can be reversed by customer and thus robbing the business of their money.

Disadvantages: In the case of receiving the cryptocurrency and holding it for a longer time, the businesses suffer risks from today's high volatility of cryptocurrencies. In the case of cooperation with a service provider, this provider is taking a slight fee from each payment for his service (BitPay charges 1 %). However, surprisingly this fee can be lower compared to a card payment - for example in US the average fee for a card payment is 2 % [source].