At Lyzi, we use cryptocurrency as one of our payment methods. Cryptocurrency is gaining popularity among merchants and customers, but what are the advantages of using a payment method like Bitcoin? What is Bitcoin and cryptocurrency?
Bitcoin, or bitcoins (lowercase when referring to the tokens), is known as the first-ever cryptocurrency and the "mother" of blockchain technology. Blockchain is built on Web3, a decentralized and secure internet network that aims to be transparent with its participants. Cryptocurrency operates on a peer-to-peer (P2P) basis and is typically purchased on platforms such as Binance or Kraken. Most people also set up a virtual wallet like eToro. Enthusiasts of various cryptocurrencies appreciate practices like "mining" to acquire, sell, or exchange their chosen digital currency with other enthusiasts.
When reading and hearing about different cryptocurrency user stories, it's natural to question the legitimacy of Bitcoin payments and virtual currency as a payment method in general. After all, why replace our traditional debit or credit cards? In the age of the internet, virtual currencies are gradually becoming part of our daily lives. Almost all of us use some form of banking account: PayPal, Lydia, a Maestro account, BNP, Mastercard, or even a buraliste account like Nickel. Payment systems are abundant in France.
Imagine this scenario: for various reasons, you can't open an account with any bank. Bitcoin payments allow you, among other things, to temporarily bypass this issue with minimal transaction fees.
Indeed, one of the primary concerns on the internet is the theft of banking information, and rightly so. Thousands of accounts are blocked by hackers who manage to bypass security systems. The advantage of Web3 and the Bitcoin blockchain lies in the dedication of its users and the collaborative efforts that contribute to a strong sense of security. Many crypto and computer enthusiasts selflessly share their knowledge, always ready to help those in need. Additionally, physical withdrawal is impossible if your Bitcoin is stolen.
There were trials in the 1990s, but most ended in more or less failure. The most successful and well-known ones inspired Satoshi Nakamoto to create the token that gave birth to all others. Ethereum, the second pillar of the project led by Vitalik Buterin, is a notable example. Every day, thousands of Bitcoin payments and transactions are executed, as this cryptocurrency proves to be the most stable in terms of value and price. It has created and upholds the entire reputation of blockchain and is the reason hundreds of people enter the market daily to acquire it.
Just like cryptocurrency, e-commerce became a part of our lives in the late 1990s. Today, Amazon, eBay, AliExpress, and more are well-known e-commerce platforms. The primary advantage of online shopping, beyond the variety of products, is the acceptance of multiple currencies and existing debit/credit cards, including Bitcoin.
E-commerce businesses understand the importance of virtual currencies, and many now accept payments through this method. For customers, there's no need to provide a card number; a link to the Bitcoin wallet is sufficient. No need for a merchant account or additional discussion – your cryptocurrency wallet becomes your payment terminal. Simple and effective.
The phrase "things were better in the past" is often repeated, but living in the past brings nothing. Cryptocurrency is gradually replacing traditional debit and credit cards, as seen in countries like Ukraine, Russia, and the United States, which have allowed secure transactions to their own wallets.
Everything happens online today: opening a bank account, billing, quotes, obtaining the IBAN through PDFs, and more. One procedure among many, but one that must be secure, especially since the COVID-19 pandemic brought work into our personal devices.
Inside the Lyzi mobile application is your wallet containing several cryptocurrencies to buy, exchange, and sell: Bitcoin, Ethereum, Tether, Litecoin, and Dash, among others. For businesses, the advantage lies in simplicity: implementing various secure payment methods and building trust between you and your customers. Beyond just enabling Bitcoin payments, we also offer a unique option: creating your own token for your brand.
Creating your electronic currency will provide a unique touch to your business and project a modern and innovative image. After all, what attracts us most on the internet is the image. Our eyes catch anything that can pique our curiosity.
Additionally, Lyzi offers mobile payments, whether by credit card, Bitcoin, another cryptocurrency, or even loyalty points. Yes, we also focus on acquiring exchangeable loyalty points that can be given to loved ones. Our customer service promises close contact with you and your business to assist you on your journey.
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