Amid Coronavirus, people are now looking for an alternative financial entity that they can use and depend on. And while the market demands, businesses are required to provide new features to make their businesses stand out compared to others. This is where the leading crypto-based company Crypto.com makes a difference.
Crypto.com has a new feature!
As reported via the company’s blog post, started on Mar. 24, the crypto company changed its invoicing features for Crypto.com Pay– making it more convenient, easier, and more understandable by the common audiences.
Invoicing is one of the essential processes that merchants do in order to give receipts to its customers when it comes to crypto buying. Since this is a vital process, Crypto.com Pay decides to keep the process simple.
How does it work?
Compared back then, where invoices can be hard to understand for crypto beginners out there, once you use Crypto.com Pay in your crypto transactions starting today, all items in your list will be priced in fiat currency. In this way, the company wishes to provide easier and more understandable invoicing to all of their potential clients. Once a user gets to understand how much– in dollars– would he be spending, more positive feedback will be given to the company.
“Items listed on an invoice are priced in fiat currency, and invoice recipients (buyers) can settle the invoice with cryptocurrency (BTC, ETH, XRP, LTC, or CRO) using the Crypto Pay feature in the Crypto.com App,” written on their website. “The payment amount will then be converted into the fiat currency of the merchant’s choice. The fiat amount converted is fixed to eliminate the risk of price fluctuation in cryptocurrencies.”
Crypto.com also reiterated that there would be no worries on the part of the merchants when it comes to spending more money on a fiat-based transaction. This invoicing tool will be free of charge, and users may even enjoy a settlement fee waiver of six months if you are a new user on the website.
Not only that, but another thing that the company wishes to clarify is that the fiat amount conversion on each transaction will never change over time. Unlike cryptocurrencies that have volatility issues, the conversion between Crypto.com Pay and the merchant’s fiat amount will not be changed even the crypto rate falls.
Crypto.com is just another company that adjusted their system in order to accommodate easier transactions for its users. After all, understanding a concept is the first thing towards adopting that concept.