PayPal is sapping your earnings

First of all, you have to accept that the American company PayPal is a synonym for "online payment system", it handles multiple currencies in more than 190 countries, and in the current circumstances it would be a mistake not to include it as a means of payment in your online store. However, despite the fact that it was a revolutionary system at the beginning of the millennium, when billionaire Elon Musk worked on it, the new decentralized technologies based on Blockchain offer new opportunities for your business and for your clients.

Despite the massive use of PayPal worldwide, it does not stop presenting some drawbacks, the first is its cost, PayPal charges up to 5.4% + $0.3 dollars for each payment you make, which is a higher commission than some of with its close competitors, the flat fee of up to $0.3 dollars can be very representative for micropayments. We must also remember the buyer protection policy that PayPal offers, which despite being one of its most useful features for buyers, has resulted in losses for stores that were victims of dishonest users. It is also necessary to point out the PayPal fees for currency exchange and for withdrawing money to your bank account.

The Cryptocurrency revolution is allowing unbanked people to access a secure and reliable electronic payment system. Therefore, you can take advantage of this innovative technology to increase your sales and reduce your operating costs, since the commission for transferring Cryptocurrencies from your clients' wallets to yours can be as low as $0 dollars, or less than $1 dollar in in many cases, a much more convenient fee than PayPal. You or your clients depend on a trusted third party to manage their funds, Blockchain technology and other decentralized networks allow money to be transferred without the participation of an arbitrator, the decentralized network (over which no one has control) is responsible for effecting the transference. Forget about blocked PayPal accounts, or KYC (Know Your Customer) verification, the use of Cryptocurrencies is the digital version of cash payment, where you and your client can do business without anyone asking questions or charging you a fee.

There is some negative publicity coming from some "experts" towards the Crypto world, but I am sure it is the old system resisting change, Cryptocurrencies are the future, and the traditional financial system knows it. If you still have doubts about accepting Cryptocurrencies in your online store, consider that PayPal offers services related to Cryptocurrencies and has plans to continue expanding it, and one of its founders, Elon Musk is a well-known fan of Bitcoin and Dogecoin. So be smart and be a part of this revolution.