Detailed answer
USDC is the best cryptocurrency for business acceptance — no volatility risk. Auto-conversion to USD eliminates price exposure. Crypto transactions are irreversible — zero chargeback fraud risk. Per-transaction cost: 0.3–0.5% vs 2.9%+ for cards. Businesses accepting crypto for goods/services generally do not need FinCEN registration (not acting as a money transmitter).
Q1: What cryptocurrencies should a business accept?
USDC (dollar-pegged stablecoin — no volatility risk) and Bitcoin for maximum reach. Add Ethereum for crypto-native customers. For international reach: USDT. Prioritize stablecoins if your treasury cannot absorb cryptocurrency price volatility.
Q2: How do we eliminate volatility risk when accepting crypto?
Configure auto-conversion to USD on receipt. The payment processor converts received crypto to stablecoins or fiat immediately. Your treasury exposure to crypto price volatility is zero if conversion happens in the same transaction.
Q3: How do crypto payment chargebacks work?
They do not. Cryptocurrency transactions are irreversible. There is no charge-back mechanism — funds sent on-chain cannot be returned by anyone except the recipient. This is both the primary advantage (zero chargeback fraud) and the primary operational challenge (customer refunds must be initiated as outbound transactions).
Q4: What is the per-transaction cost of accepting crypto vs cards?
Stripe: 2.9% + $0.30 per transaction. Custom crypto gateway: 0.3–0.5% (conversion spread) with near-zero gas on L2 or stablecoin chains. For high average-order-value businesses, the fee saving is significant.