Cryptocurrency has taken the world by storm at the dawn of the COVID-19 pandemic. The value of Bitcoin, one of the most popular cryptocurrencies, was valued at $68,000 at its height in November 2021.
Simultaneously, QR codes also became widespread. It’s also easier to create a QR code now using a QR code generator online software.
Interestingly, cryptocurrency platforms like Bitpay now use QR code technology, allowing customers to settle their transactions along with features such as automatic conversion, withdrawal, and more.
Cryptocurrency is used so often in El Salvador that their government made it a legal form of payment. Citizens can use them to pay for their transactions in brick-and-mortar and online stores.
Other countries across Latin and South America are following suit, including Argentina, which recently announced Bitso QR code crypto payments.
Here’s what you need to know if you’re a business owner and want to use crypto technologies like a BitPay QR code.
QR codes can be a solution for long addresses
Cryptocurrency addresses are long and unique, with combinations of up to 34 characters.
While this is crucial to ensure no two similar addresses, it can be challenging to memorize and often lead to typographical errors.
This could be more efficient for mass use, making transactions quicker, easier, and more convenient for customers.
With a QR code for crypto payments, business owners can ensure smooth transactions, with less prone to mistakes and human errors.
QR code for automatic exchange to cash
What’s great about using cryptocurrency for payments is that their value does not depend on fiat currency.
This means that the crypto value is always on the best market value, allowing people to settle their transactions at the best prices possible.
In Argentina, QR codes for crypto payments don’t exchange the item’s value into cash, offering a full-on contactless payment method.
Tourists and citizens can use their smartphones to settle transactions in just a few steps.
QR code for secure payments
Blockchain technology is the foundation of cryptocurrency. It is a secure system that records transactions across devices in the peer-to-peer network link.
At the same time, developments in QR code technology have made them more secure with features such as password restriction, one-time scanning, and more.
By combining these secure technologies, QR codes for cryptocurrency payments have become one of the most secure payment methods for people.
It’s easier to track payments in the system since it records every transaction.
QR code for quick and instant payments
Another excellent feature of QR codes for cryptocurrency payments is that transactions reflect in real time.
Once the transaction triggers from one crypto wallet, it goes straight to the database, and the payments will appear there instantly.
Unlike online banking applications that take up to 15 business days to reflect into the receiver’s account, QR codes for crypto payments revolutionize digital transactions to have a more efficient process.
QR code for quick withdrawal into cash
While cryptocurrency payments have become extremely common, cash is still one of the most commonly used payment methods, especially in places where reception is weak.
Across El Salvador and other countries in Latin America, several locations have cryptocurrency ATMs where people can withdraw their crypto into cash.
Users can generate a QR code in their crypto wallet or exchange it and have it scanned at ATMs.
When scanned, the ATM converts it automatically according to market value and dispenses cash afterward.
The ability to withdraw cash whenever needed makes QR codes for crypto payment quick, efficient, and convenient.
Make secure payments with QR codes for cryptocurrency
QR codes and cryptocurrency are secure technologies, making them effective payment methods for all transactions.
Generate QR codes for cryptocurrency payments using QRTIGER, the best QR code generator. Visit QRTIGER to learn more about QR code technology.