Cryptocurrency payments are reshaping how businesses transact globally, offering faster settlements, lower fees, and access to a borderless customer base. However, success hinges on selecting a secure crypto wallet or payment processor tailored for businesses. Platforms like Zengo Business simplify this transition by combining enterprise-grade security with intuitive tools for managing crypto payments and treasury, a company Bitcoin treasury, and more.
Why Businesses Should Accept Crypto Payments?
Many businesses are embracing cryptocurrency payments due to the numerous advantages they offer over traditional payment methods. Here’s why:
- Faster Transactions & Lower Fees – Unlike traditional banking systems that take days to process payments, most cryptocurrency transactions settle in seconds. Moreover, crypto transactions often have lower processing fees than credit cards, which typically charge 2-4% per transaction.
- Access to a Global Customer Base – Cryptocurrencies eliminate geographical restrictions, allowing businesses to accept payments from customers worldwide without worrying about currency conversion or international banking limitations.
- Increased Security & Transparency – Blockchain technology ensures that every transaction is settled and recorded, reducing the risk of fraud, chargebacks, or payment disputes.
- Potential Tax & Financial Benefits – Holding cryptocurrency can be a strategic financial decision. Some businesses choose to keep crypto as an investment, benefiting from potential value appreciation. Additionally, some regions offer tax incentives for businesses dealing with digital assets.
Pros and Cons of Accepting Bitcoin & Other Cryptocurrencies:
Pros:
- Speed: Most transactions are processed in seconds, 24/7, even on weekends; you don’t have to wait for several business days for transactions to be completed.
- Clarity: Know exactly what has been paid to you and when. No more waiting in the dark for a wire transfer to arrive in 2-3 business days.
- Lower Fees: Avoid interchange fees (usually 1-3% for credit cards) by processing payments directly to your wallet, bypassing banks and eliminating extra charges.
- Fraud Reduction: No chargebacks since transactions are non-reversible, and there are no stolen credit card risks, as every transaction is recorded on the blockchain.
- New Customers: Attract tech-savvy, global spenders and access a much, much larger market: The entire world – anyone with a smartphone.
Cons:
- Volatility: Crypto prices fluctuate daily (but most companies mitigate this with stablecoins like USDT and USDC.)
- Regulatory Uncertainty: Compliance varies by jurisdiction.
- Technical Complexity: To accept cryptocurrencies, businesses require a certain level of technical expertise and infrastructure. Secure wallet management is crucial, which can be effectively addressed by the Zengo Business wallet as it is easy to integrate and secure by default.
Cryptocurrency vs Credit Card Payments
Cryptocurrency lowers costs and fraud risk for global businesses, while credit cards may work best in local markets. Tools like Zengo Business Wallet enable businesses to accept crypto and instantly convert it to fiat, avoiding volatility. Here’s a brief comparison of crypto and credit card payments:
Security
Crypto: Transactions are irreversible and secured by blockchain encryption, eliminating chargeback fraud. Private keys (managed via proven MPC wallets like Zengo Business) ensure only authorized users control funds.
Credit Cards: Centralized systems are vulnerable to data breaches and stolen card numbers. Chargebacks (up to 1% of revenue) expose businesses to fraud.
Speed
Crypto: Most payments settle in seconds (e.g., Solana and Ethereum’s L2s like Base and Polygon: 1-6 seconds; XRP: 3-8 seconds; Ethereum and TRON: 1–2 minutes; Bitcoin: 10–60 minutes ). No banking delays—transactions finalize 24/7.
Credit Cards: “Instant” approval at checkout, but funds take 1–3 business days to settle due to intermediaries like banks and card networks.
Fees
Crypto: Transaction fees vary but many coins (like stablecoin transfers on some blockchains) average fractions of a penny. No hidden interchange fees.
Credit Cards: Merchants pay 1.5–3.5% + $0.30 per transaction. High-risk industries (e.g., CBD, gaming) face fees up to 10%.
Acceptance
Crypto: Growing adoption among tech-savvy consumers (~420 million global users). Ideal for cross-border sales or industries with high chargeback risks.
Credit Cards: Universally accepted (~80% of online transactions) but exclude unbanked populations and face restrictions in high-risk sectors.
| Feature | Crypto Payments | Credit Card Payments |
| Security | Transactions are irreversible and secured by blockchain encryption, eliminating chargeback fraud. Private keys (managed via MPC wallets like Zengo Business) ensure only authorized users control funds. | Centralized systems are vulnerable to data breaches and stolen card numbers. Chargebacks (up to 1% of revenue) expose businesses to fraud. |
| Speed | Settles in seconds to minutesSolana and Ethereum L2s (Base, Polygon, etc): 1-6 secondsXRP and TRON: 2-8 secondsEthereum: 1-2 minutesBitcoin: 10-60 minsNo banking delays – transactions finalize 24/7. | “Instant” approval at checkout, but funds take 1–3 business days to settle due to intermediaries like banks and card networks. |
| Fees | Fractions of a penny for many transactions – especially stablecoins.No hidden interchange fees. | Merchants pay 1.5–3.5% + $0.30 per transaction. High-risk industries (e.g., CBD, gaming) face fees up to 10%. |
| Acceptance | Growing adoption among tech-savvy consumers (~420 million global users). Ideal for cross-border sales or industries with high chargeback risks. | Universally accepted (~80% of online transactions) but excludes unbanked populations and faces restrictions in high-risk sectors. |
Challenges of Accepting Crypto Payments
Price volatility in the cryptocurrency market can lead to significant losses, so it’s advisable to convert your assets to stablecoins or fiat quickly.
Also, regulatory compliance varies by region, making it important to collaborate with legal advisors for accurate tax reporting and licensing.
Security risks also play a role, as poorly managed private keys can result in theft; using non-custodial wallets like Zengo Business can enhance protection through MPC-based key management and permissioned role assignments.
How to Accept Crypto Payments – Step by Step
Step 1: Create a Zengo Business Account:
A business-friendly, non-custodial wallet with security bona fides like Zengo Business provides institutional-grade security and ensures businesses retain full control over their assets at all times.
Step 2: Select the Cryptocurrencies to Accept:
Decide whether to accept Bitcoin (BTC), Ethereum (ETH), Solana, USDT, USDC, or other digital assets.
Step 3: Generate Payment Addresses:
Businesses can create unique crypto addresses for each transaction or use a crypto payment processor for automated checkout integration.
Step 4: Implement Transaction Approval Workflows:
For security, Zengo Business offers multi-user access control, allowing businesses to assign role-based permissions and approval workflows.
Step 5: Manage Treasury & Compliance:
Track transactions, maintain records, and use Zengo’s reporting tools for accounting and tax compliance.
Why Zengo Business is the Best Solution for Crypto Payments
1. Institutional-Grade MPC Security
Unlike traditional wallets that store private keys, Zengo Business uses Multi-Party Computation (MPC) for key management, ensuring full on-chain control without custodial risks.
2. Multi-Wallet & Multi-User Access Control
Businesses can assign role-based permissions and establish approval workflows to improve security and operational efficiency. They can assign specific roles, such as CFO-only approvals, and manage multiple wallets from a single dashboard.
3. Fast and Easy Setup
No paperwork, complex verification, or technical expertise is required. Start accepting crypto payments in just 5 minutes.
4. Seamless Treasury Management and Compliance
Manage multiple wallets, monitor payments, and create reports from one interface. Automate reporting and maintain audit trails for tax compliance.
5. 24/7 Human Support
Unlike competitors, Zengo Business offers 24/7 human support to resolve issues instantly with real-time assistance, ensuring uninterrupted business operations.
What is the difference between a business wallet and a regular wallet?
A business crypto wallet offers advanced features such as multi-user access, structured approval workflows, batch transactions, and compliance tools. In contrast, a regular crypto wallet is designed for individual use and lacks business-grade security and treasury management features.
What to Consider when Choosing a Crypto Payment Processor?
Selecting the right crypto payment processor ensures seamless transactions, compliance, and profitability. Here’s what to prioritize:
1. Security
Prioritize non-custodial wallets with MPC (Multi-Party Computation) technology, which eliminate single points of failure while letting you retain full control of assets. Look for features like multi-signature approvals and audit trails to prevent fraud. Avoid custodial processors that hold your private keys, as they introduce third-party risks.
2. Support
Opt for providers offering 24/7 human support to resolve issues instantly, especially since crypto markets operate around the clock. Verify technical compatibility by checking for APIs, plugins (e.g., Shopify, WooCommerce), and developer documentation to ensure smooth integration with existing systems.
3. Payout Frequency
Choose a processor that aligns with your cash flow needs – daily settlements for consistent liquidity or flexible terms to hold crypto assets. Mitigate volatility by selecting a provider with auto-conversion tools that instantly exchange crypto for stablecoins or fiat (e.g., USD, EUR).
4. Compatibility
Ensure the processor supports the cryptocurrencies your customers use (e.g., Bitcoin, Ethereum, Solana, USDT, USDC) and integrates seamlessly with your e-commerce platform, POS system, or accounting software. Providers like Zengo Business support thousands of assets across 20+ blockchains, offering broad flexibility.
And here’s why Zengo Business stands out. Zengo Business combines transparent fees (no hidden charges), MPC-based security for full asset control, and 24/7 human support. Its multi-chain compatibility makes it ideal for businesses seeking a secure, low-cost solution.
How to Accept Crypto Payments as a Business – FAQ
Transactions are recorded on a blockchain, verified by miners/validators, and irreversible once confirmed. Businesses receive crypto directly to their wallet address.
Yes, especially when using a secure, non-custodial wallet like Zengo Business with MPC security and multi-user access controls.
Bitcoin is secure, but its price volatility can pose risks. Mitigate this by converting BTC to stablecoins like USDT or USDC, or fiat instantly using tools like Zengo Swap, which supports automatic conversions to minimize exposure to market swings.
Start with widely adopted coins like Bitcoin (BTC), Ethereum (ETH), Solana, XRP, TRON, or stablecoins like USDC and USDT for price stability. Zengo Business supports thousands of assets across 20+ blockchains, letting you tailor acceptance to your customer base.
Yes. In most countries, crypto payments are taxable as income or capital gains. Use Zengo Business’s detailed transaction reports and CSV exports to simplify tax filing and compliance.
Use payment processors that instantly convert crypto to fiat (like USD) or stablecoins.
Stablecoins like USDC and USDT are pegged 1:1 to fiat currencies. By accepting payments in stablecoins or converting volatile crypto immediately, businesses avoid market risks.
Refunds are possible but require manual approvals, as blockchain transactions are irreversible. Establish clear refund policies, and consider escrow services for high-value purchases.
Customers can pay using any compatible wallet, like Zengo, MetaMask, Ledger, or Coinbase. Ensure your payment processor supports the blockchains your customers use. The Zengo Business wallet supports multiple blockchains.
Legality varies by jurisdiction. In the U.S., crypto is recognized as property, and businesses must comply with tax laws. Consult a legal advisor to ensure compliance in your region.
Yes. Zengo Business uses MPC technology to secure private keys without custodial risk. Assets remain fully on-chain, and customizable approval workflows prevent unauthorized transactions.
Converting crypto to fiat is a taxable event. Gains or losses from price fluctuations must be reported. Tools like Zengo Business provide audit trails to streamline tax reporting.
Use exchanges or payment processors with built-in conversion. Zengo Business integrates with fiat off-ramps, enabling automatic conversions to your bank account.
Legality varies by jurisdiction. In the U.S., crypto is recognized as property, and businesses must comply with tax laws. Consult a legal advisor to ensure compliance in your region.
To start accepting cryptocurrency payments, choose a business wallet like Zengo Business, then set up your payment addresses or API integrations. You can easily display crypto payment options at checkout. Zengo offers a quick and straightforward setup process that only takes five minutes and requires no coding or paperwork.
Lower fees: Save up to 5% compared to credit cards.
Global reach: Serve unbanked or international customers.
Security: No chargebacks or card fraud.
Instant Settlement: Use funds as soon as they land in your Zengo Business wallet, no need to wait days for payment settlement.
Innovation: Attract tech-forward clients.
Absolutely. Zengo Business ensures the safety of your assets through:
Non-custodial MPC: Enjoy full asset control without third-party risks.
Role-based access: Assign permissions, such as CFO-only approvals.
24/7 support: Get real-time assistance for urgent issues.
Compliance tools: Access audit trails and tax-ready reports.*
