With the recent uptick in crypto adoption, many individuals and businesses have warmed up to the prospect of accepting crypto as payment for their services. In this blog, we will take a closer look at crypto invoicing, why and how freelancers and businesses should accept cryptocurrency payments, its advantages, and how SmartPay can help in receiving Bitcoin and other crypto payments seamlessly.
The Growing Popularity Of Crypto Payments
Why are crypto payments gaining popularity? For starters, crypto payments are near-instant, irrespective of where the funds have been sent from. You also don’t have to worry about excessive bank fees or foreign exchange conversion fees when accepting payments in crypto. While crypto transactions do incur a transaction fee, this fee is minuscule compared to the fees charged by banks and traditional payment companies.
Another significant reason behind the growing popularity of crypto payments is the simple fact that some companies prefer crypto payments. Many companies with big budgets are increasingly looking at service providers, and freelancers are open to receiving crypto payments. As such, it’s hardly a surprise that demand for crypto invoicing has been on such a rise.
What Is Crypto Invoicing?
Crypto invoicing refers to the practice of creating invoices for products and services that must be paid using cryptocurrencies. Through crypto invoicing, businesses and freelancers can create itemized bills and invoices and bill their clients in crypto without the hassle of switching between different apps and wallets. As cryptocurrencies and crypto transactions grow in popularity, many individuals and businesses are exploring crypto as a mode of payment.
Crypto invoicing could allow you to create, manage, track, and review customer payments. Pre-designed and fully customizable templates would enable users to quickly fill in any information before forwarding it to customers in the form of a link, social media, email, or even text messages.
When the recipient clicks on the link, they will be able to view the itemized bill along with the requested amount. Once the billed amount is paid, the invoicing tool scans the blockchain explorer and alerts both parties once the transaction has been completed.
Advantages Of Crypto Invoicing
Cryptocurrencies are quickly carving a niche for themselves in the global payments market. Prominent payment processing giants such as Visa, Mastercard, Paypal, and Venmo have already partnered with companies to facilitate crypto payments. It is important to remember that while a majority of platforms accept Bitcoin as payment, users can also use other prominent cryptocurrencies such as USDT, USDC, Litecoin, Ether, Bitcoin Cash, and Dogecoin to complete transactions.
That’s not all. Professionals, small businesses, freelancers, sportspersons, artists, and even politicians have started accepting crypto. At the same time, countries such as El Salvador have given Bitcoin legal tender status, while others are exploring the creation of Central Bank Digital Currencies (CBDCs). With financial preferences evolving and cryptocurrency payments gaining popularity, crypto invoicing has emerged as a critical tool, offering several benefits such as,
- Quick and easy generation of invoices.
- Allows customization of the invoice as per your requirements
- Thanks to blockchain technology, crypto invoicing enables quick, secure, and cheap payment processing.
- Increases business opportunities as customers are more comfortable using crypto as payment.
How To Send A Crypto Invoice Using SmartPay?
Now that we have discussed crypto invoicing let’s understand how you can send a crypto invoice and receive payments using SmartPay. SmartPay enables businesses and individuals to send crypto invoices, and accept crypto payments, empowering them to capitalize on the efficiency of crypto payments and realize their true potential. SmartPay is trusted by businesses across the globe and is backed by CoinSmart, a regulated, publicly traded entity.
Users can benefit from guaranteed exchange rates, instant fiat conversions, and quick settlements at a fraction of the cost. SmartPay supports a number of currencies, including USD, EUR, CAD, and AUD. When it comes to crypto, the platform supports BTC, ETH, USDT, USDC, SOL, LTC, DOGE, and several others. SmartPay makes accepting Bitcoin payments or payments in other cryptocurrencies seamless thanks to its robust crypto invoicing platform. The platform comes with several features, such as
- Users can export their entire transaction history for accounting purposes.
- Complete control over invoices
- Customization of invoices as per requirements
- Eliminate human errors in transactions
- Bill customers directly via email.
SmartPay’s crypto payment process makes sending and accepting crypto payments straightforward. You can create an invoice and send it to your customers. Once you complete the payment, SmartPay will instantly convert the crypto into fiat at a locked-in exchange rate. The platform will automatically send a notification once it completes the payment. See how to send your own crypto invoice using SmartPay.
As cryptocurrencies gain prominence, crypto payments will continue to see increased adoption. Businesses, individuals, and freelancers will inevitably look to benefit from a streamlined and highly efficient mode of payment. SmartPay makes crypto invoicing streamlined and efficient. Send invoices globally and accept payments in a number of cryptocurrencies.
Disclaimer: The contents of this blog are strictly for information purposes only. The opinions expressed in this blog do not have any connection to CoinSmart, and they do not aim to provide you with investment advice. It is important that you do your personal research and/or consult an investment advisor to determine what is right for you.