How Small Businesses Can Use Crypto Now: 7 Steps to Cut Fees

Tired of credit card fees chewing up your margin? With cryptocurrency payments, you can cut out middlemen and keep more from every sale. Using digital currencies like Bitcoin or Ethereum lets you speed up checkout, avoid wire transfer costs, and reach buyers across borders with strong payment security.

This guide breaks down seven practical steps to lower transaction fees, reduce friendly fraud, and manage price volatility. Want results you can see fast? Keep going.

Benefits of Using Cryptocurrency for Small Businesses

Crypto wallets let you accept digital currency without jumping through hoops. Many small shops use these payment methods to lower processing costs charged by credit cards.

Lower transaction fees

Banks and card networks like Visa or Mastercard take a slice of every sale. Credit card fees usually run from 2% to 4%, which adds up fast.

Crypto payment processors, including Coinbase Commerce, BitPay, or Binance.com, often charge under 1%. In July 2023, the average Bitcoin network fee was about $1.30 per transaction, which beats many wire fees. BVNK serves high-volume merchants and often provides volume discounts that push costs even lower.

Chargebacks also hurt. Banks allow buyers to reverse card charges, which drains revenue and time. Blockchain transactions are final, so chargeback fraud is off the table.

Lower fees set you up for faster payment processing next.

Faster payment processing

No waiting for bank hours. Blockchains like Bitcoin and Ethereum confirm payments around the clock. I used to wait days for international credit card settlements. Now my crypto wallet sees funds almost right away.

Processors such as CoinsPaid handled over 41 million crypto payments worth 23 billion euros. Stablecoins alone settled $8 trillion in 2022. For cross-border payments, crypto moves without bank delays. Many gateways convert coins to U.S. dollars in seconds, so you can use a linked debit card or send funds to your bank account.

Want a quick primer that cuts through fluff? Here you go: what’s great about crypto.

Access to a global customer base

Accept crypto and you can sell to anyone with a phone and a wallet. Shopify, Newegg, and Rakuten Japan offer crypto at checkout. More than 15,000 businesses take Bitcoin, many in international markets.

Stablecoins pegged to the U.S. dollar help avoid wild swings during cross-border transactions. Popular mobile wallets now connect with Apple Pay and Google Pay, so paying with digital assets feels familiar. A friend added crypto to his auto parts store and saw new orders from Canada and Brazil the same week.

Travala reports that 78% of bookings this year used virtual currency, and those customers spent 2.5 times more per trip than card users. That is a big boost for any brand.

Enhanced payment security

Reaching more buyers also means more risk. Crypto helps you fight fraud because blockchain technology, a shared digital ledger, verifies every transaction across many computers.

Transactions are final and cannot be reversed. Chargebacks and double spend attempts fade out. Gateways like BitPay add two-factor authentication and encryption to protect your data. CoinsPaid follows KYC and AML rules set by regulators such as the Department of Financial Protection & Innovation, which squeezes out bad actors.

You can choose custodial wallets, where a provider manages your keys, or non-custodial wallets, where you control your private keys. Cold wallets keep funds offline for extra safety, but key management must be tight. The blockchain’s permanent record also makes payment tracking and tax compliance easier.

Types of Cryptocurrencies Small Businesses Can Use

You have options. Bitcoin, Ethereum, and stablecoins can all work for everyday payments. Each offers tradeoffs on fees, speed, and risk.

Bitcoin

Bitcoin, or BTC, is the original digital currency. More than 15,000 businesses accept it, and about 2,300 are in the U.S. I ran a small shop and added Bitcoin with BitPay. It brought in more overseas buyers than I expected. Laszlo Hanyecz kicked off real-world BTC spending with two pizzas on May 22, 2010.

Retailers use processors like Coinbase Commerce or Binance Pay to cut transaction fees and boost security. If price swings make you nervous, most services can convert payouts to dollars and deposit them into your bank account.

Online stores often show a QR code at checkout. Buyers pay from their crypto wallet using UTXO addresses, which stand for unspent transaction outputs, and private keys that control the funds. BitPay supports crypto-to-fiat payouts and adds two-factor authentication plus encryption, so blockchain security works in your favor.

Ethereum

Ethereum is a top pick for fast, affordable payments. Many merchants accept it, and even major retailers have tried it. That builds confidence for small shops.

Wallets like MetaMask and Coinbase Wallet plug into point-of-sale systems and websites. Ethereum also supports smart contracts, which are self-running agreements on the blockchain. These can automate parts of your business, such as deposits or refunds.

For international payments, Ethereum sends funds without currency exchange hurdles. You get speed, lower fees, and strong security.

Stablecoins

Stablecoins, such as USDT and USDC, solve the price volatility problem. They track the U.S. dollar, so the value stays steady while the blockchain handles the transfer. In 2022, stablecoins processed about $8 trillion in settlements, which shows real traction.

Many companies use stablecoins for payroll, subscriptions, and supplier payments. I switched my store’s global checkout to stablecoins using a gateway SDK. Setup took less than an hour with their guide and code samples. BVNK now supports these deposits across all 50 states as of August 2025, which made cross-border cryptocurrency payments smoother for my team.

Stablecoins keep the speed and transparency of crypto while calming price swings.

How Small Businesses Can Start Accepting Cryptocurrency

Getting started is simpler than it looks. With a digital wallet and a point-of-sale terminal, you can accept bitcoin and other coins at the counter or on your site.

Set up a digital wallet

Pick a wallet provider that matches your goals. BitPay, Coinbase, Binance.US, and Gemini are common choices. A digital wallet stores your crypto and gives you keys to send or receive payments.

Hot wallets, such as Robinhood or SoFi, stay online. They are convenient for frequent sales, but keep smaller balances there. Cold wallets sit offline for long-term storage and extra safety.

Private keys unlock the funds in your wallet. Lose the keys and the coins are gone for good. Custodial services hold the keys for you. Non-custodial wallets put you fully in charge.

Some wallets offer debit cards so you can spend crypto at checkout or ATMs. Set a strong PIN and turn on all security features. That keeps your funds safe from snoops.

Most wallets connect to your point-of-sale through gateways like BitPay, which speeds up local and cross-border transactions and trims bank fees. Separate funds. Use hot wallets for daily sales, and keep larger amounts in cold storage.

Choose a cryptocurrency payment gateway

A crypto gateway works like a card processor, but for digital assets. Popular options include Coinbase Commerce, BitPay, Stripe, CoinsPaid, and Binance Pay.

BitPay charges around 1% to 2% per transaction. COINGATE is about 1%. CoinsPaid supports more than thirty cryptocurrencies and processed over forty-one million transactions worth twenty-three billion euros in one year. Shopify and WooCommerce integrate with Coinbase Commerce.

Binance Pay charges zero transaction fees and supports many coins, including BNB and Ethereum. It also uses two-factor authentication and encryption to protect your data. Many gateways convert crypto into dollars right away, which reduces price volatility risk. Trusted providers run know your customer checks and follow anti-money laundering laws for regulatory compliance.

Once you pick a gateway, you can plug crypto into your website or point-of-sale system in short order.

Integrate payment options into your website or point-of-sale system

Shopify and Newegg support cryptocurrency payments with plugins and APIs. I added Bitcoin Cash to my site using a gateway API last year. It was easier than I expected.

Payment processors handle KYB onboarding and walk you through setup. After a quick demo, they help you add crypto to your checkout. Customers choose a coin, see a real-time exchange rate, and scan a QR code to pay.

The blockchain confirms the transaction and both sides get instant alerts. You can settle to a crypto wallet or auto-convert to dollars with small fees. That saves the most for frequent cross-border transactions.

Keep your checkout page clean and simple. A smooth flow increases conversions in crowded e-commerce markets.

Industries Where Small Businesses Are Using Crypto

Many owners use cryptocurrency payments to trim fees and speed up checkout. With a wallet and a simple app, your register speaks blockchain faster than your Wi-Fi.

E-commerce

Shopify, Newegg, and Rakuten Japan let stores accept cryptocurrency payments through gateways like BitPay or CoinsPaid. Adoption has climbed since 2020 as tools improved.

Merchants shrink transaction fees to under 1%, instead of the 2% to 4% that credit cards charge. Roughly 15,000 businesses accept Bitcoin as a medium of exchange.

Crypto wallets make cross-border transactions easier by skipping bank hurdles. Offering crypto can set your brand apart and attract tech-savvy shoppers. Top processors let you convert to fiat immediately, which reduces price volatility. Every sale is recorded on a public blockchain with cryptographic checks and network consensus, which blocks many kinds of fraud.

Food and beverage

Subway sells sandwiches for bitcoin in parts of Europe and North America. Burger King accepts digital currency in Brazil and Venezuela. Starbucks takes crypto through the Bakkt app. A friend once paid for a Whopper with Ethereum and dodged card fees.

Blockchain helps trace food from farm to table by writing each step to a shared ledger. That helps with safety and recall proof. Since a big slice of agri-food trade involves livestock, traceability matters. If you plan to use this tech, study local laws first because agencies track these systems closely.

Many training platforms explain how crypto lowers transaction fees and improves checkout security for buyers and sellers.

Retail

Major retailers like Home Depot, Whole Foods, and Nordstrom accept bitcoin and Ethereum at checkout using apps such as Flexa. I watched a shopper buy work boots with crypto. The payment cleared fast, and the store’s system handled it without a hiccup.

Gateways now switch digital assets to cash right away, so swings in value do not throw off your totals. Retailers cut fees compared to card payments. Mobile apps that support crypto keep growing, which pulls in curious buyers. Cold wallets protect unspent transaction outputs after hours, and crypto debit cards help stores pay suppliers quickly.

By 2020, blockchain earned solid trust in retail thanks to large trading platforms and wider cryptocurrency adoption.

Hospitality and travel

Hotels and airlines like Emirates and airBaltic accept crypto. This helps smaller hotels and tour operators save on transaction fees and boost margins. Expedia uses Travala to let travelers pay with bitcoin or stablecoins.

Travala says 78% of 2024 bookings came from crypto wallets instead of cards or wires. These travelers also spend about 2.5 times more per trip. With travel handling about $11 trillion each year, lower fees could save hundreds of billions over time. Blockchain also powers smart loyalty programs and gives access to a large pool of digital asset holders.

Risks and Challenges of Using Cryptocurrency

Crypto wallets can be targets if you skip security basics. Price volatility can rattle your books in a hurry, so plan ahead.

Price volatility

Bitcoin can swing more than 10% in a day. In early 2025, it moved from around $109,071 to about $80,000 within weeks. Altcoins often jump even more. Big news, like new rules or corporate buying, can trigger rapid price swings that hit your bottom line.

To reduce risk, many businesses use stablecoins pegged to the U.S. dollar. Others rely on payment processors like BitPay or Coinbase Commerce to convert bitcoin to dollars right after each sale. In one twelve-month stretch, Bitcoin’s price ranged from roughly $15,814 to $31,446. That kind of gap can make payroll stressful.

Compliance adds another layer because there are few safety nets when prices fall quickly.

Regulatory compliance

The IRS treats cryptocurrency as property, not cash. You must track every transaction for capital gains taxes. That can get complex as volumes grow. U.S. exchanges follow strict anti-money laundering and know your customer checks. There are no shortcuts here.

Processors like CoinsPaid hold licenses in the EU and enforce AML steps for each business. Europe’s MiCA framework adds more oversight from 2024 onward. Regulators also watch stablecoins closely after past failures raised concerns about financial stability.

New rules or tax guidance can impact daily operations. Many owners work with a tax pro or attorney before adding crypto at checkout. That advice often pays for itself.

Security considerations

Both hot and cold wallets carry risks. Cold wallets give better protection, but if you lose the private key, the crypto is gone forever. Top processors, such as BitPay, add two-factor authentication and encryption to keep transactions locked down.

The blockchain keeps a permanent ledger that helps stop fraud and keeps your books clean. Market manipulation can hit prices hard, so stick with trusted wallets and providers. Many small businesses let payment gateways handle compliance and manage wallets to cut risk. Strong cybersecurity habits are a must for daily operations and cross-border transactions.

Tips for Successfully Using Crypto in Small Businesses

Check reviews on crypto wallets and gateways before you choose one. Free guides and short videos can bring your team up to speed fast.

Educate yourself and your team

Set up short training sessions on digital assets. Food and beverage owners often use simple platforms to show blockchain technology in action. Explain stablecoins and why they avoid wild price moves that hit bitcoin.

Invite trusted experts to cover the basics without fluff. Share guides from payment providers or trade groups. These cut confusion around transaction fees, cross-border payments, and crypto wallets used at the counter.

Stay informed on central bank digital currencies, called CBDCs. If they arrive in your market, you will want a plan. Knowing your options now saves stress later.

Start with one or two cryptocurrencies

Begin with Bitcoin or Ethereum. These have strong support from major processors like BitPay and Coinbase Commerce. My café added Bitcoin last year. The team learned it in a few hours.

Keeping to one or two coins makes training easier and limits price volatility risk. Watch your fees weekly to track savings versus cards. If customers ask for stablecoins, test interest with a small rollout before adding more.

Monitor market trends and regulations

Rules can change how you accept digital assets. Follow updates from your local financial authority to avoid fines. Even accounting guidance, like the SEC’s SAB 122, can affect how you report holdings. I set Google alerts after a friend ran into surprise rule changes. It saved me time and cash.

Markets shift quickly too. Track cross-border trends, blockchain upgrades, and payment API changes that affect checkout. Watch for interoperability issues with tools like the BVNK API. Staying alert protects your service quality and keeps customers happy.

How Will Small Business Use of Cryptocurrency Change in 2025?

Stablecoins will keep rising for payroll and supplier bills. Many small businesses use them for cross-border transactions to reduce delays and banking costs. BVNK’s stablecoin payment service, live across all 50 U.S. states as of August 2025, helps companies pay partners around the world at low cost.

Peer-to-peer crypto payments trim transaction fees down to the bone. Still, regulatory compliance demands attention this year. The EU’s MiCA framework brings new rules that aim for safer digital asset use.

Payment providers now ship AI helpers, like BVNK’s tool launched in July 2025, to track invoices and manage wallet flows while you focus on growth. Keep an eye on price volatility, and consider steady assets for payroll and loans to keep your books clean at tax time.

Finance and tax disclaimer: This content is for education only. It is not financial, legal, or tax advice. Talk with a qualified professional about your specific situation.

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