For many people and businesses, cryptocurrencies have become quite the game-changer. These digital currencies powered by blockchain technology present a new, more sufficient way of facilitating transactions between companies and consumers. Perhaps the most significant merit of using cryptocurrencies is leveraging their decentralized nature.

What this means is that there is no central authority that is in charge of distributing these cryptos. Instead, cryptocurrencies are mined online through complex processes. For this reason, there are no go-betweens when making transactions, which immensely reduces transaction costs and delays. Even so, while this decade-old innovation is a step in the right direction for businesses, setting up a crypto payment system can be an uphill task for entrepreneurs. Continue reading →