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Cryptocurrency payments have always been a great alternative for centralized fiat payment methods. However, with only a few companies accepting such digital payments, it has become extremely hard for the world to experience the benefits of blockchain-based virtual currency.
While only a few highly reputed companies such as Microsoft have been accepting crypto payments for a while now, not many other organizations have followed this trend. This is all now beginning to slowly change as Avnet and Bitpay are working together in order to bring Blockchain-based payments to the world.
What are Avnet and Bitpay?
Avnet is the global technology solution providing organization. It is known for its work in materializing the ideas of the customers in the most efficient way. Additionally, the company also helps the customers throughout the lifecycle of the product that is being developed.
Being a global organization, Avnet has customers all over the world. Receiving timely payments from all its customers is a major problem, as not only does the centralized payment system exercise a lot of transaction fees for international payments but also takes a longer time to actually transfer the funds.
This is where Bitpay plays a major role in the future of this organization. Bitpay has been the global leader in offering blockchain-based payment solutions since 2011. With almost a decade of experience to back their cause, Bitpay helps several organizations receive crypto payments from customers around the world. By working with Avnet, Bitpay is offering this organization a blockchain-powered payment solution.
As cryptocurrency knows no boundaries, the developers can receive payments from customers around the world in no time. Additionally, this also takes out the burden from the developers who no longer have to worry about payment-related problems. Thus, ensuring that all the effort of the developers is put into developing quality products while all the payments are handled by Bitpay.
How will this benefit the world?
At least in some certain aspects, cryptocurrency payments have been far more beneficial than their centralized counterpart. As all transactions on a crypto network hardly take a few minutes, it is a go-to solution for cross border payments which otherwise would have taken a week. Additionally, this will also attract a lot of currency conversion fee which can be avoided by using cryptocurrencies instead.
The move to start accepting cryptocurrency by Avnet is a great milestone for the entire technological world. Being a popular organization, it allows its customers from different parts of the world to start making payments by using digital cryptocurrencies.
By working alongside Bitpay, a global blockchain payments leader, all developers need not have to worry about receiving payments as this process is going to be handled by Bitpay. Thus, allowing developers to put their complete effort on developing quality products for their customers. With no middlemen involved in the payment process, the fee that the customers have to pay is also eliminated.
The benefits of blockchain payments have not been completely tapped into at the moment. With only a few organizations accepting it, this move by Avnet will certainly get the other organizations into considering blockchain-based payments in the near future. This not only brings the world a step closer to crypto mass adoption but also allows the users to take complete advantage of cryptocurrencies.
Cryptocurrency payments will play a major role in shaping the future of the financial world. With a reputed company such as Avnet starting to accept crypto payments it gives its large user base the option of flexible payments.
Not only will the use of cryptocurrencies helps users save a lot on fees but also helps in fast transaction confirmation. This partnership with Bitpay will not only help Avnet concentrate more on developing quality products but also help the world move towards crypto payment methods.