You only get one shot and when you decide to take it, you need to go for it. What it takes to get there is passion and a team that you ride and die with. And when you take it, you need to go for it, all in, with everything you have.
So when we pivoted our business model to focus solely on cryptocurrency, we knew that we had to go all in. There was no half-assing this. That meant ending our previous revenue streams and focus all of our efforts on conquering it and doing it right. Differently, than everyone else was. With this in mind, our focus has squarely been on the merchant side of the business. We believe, no know, that merchants will be the ones that drive the adoption of cryptocurrency as a transactional medium.
The question was, what will it take to get merchant adoption of cryptocurrency? How do we change cryptocurrency from a speculative asset to a currency that will be used for everyday transactions?
When we spoke with merchants, we heard the same thing over and over again. It was too risky. Cryptocurrency is too volatile to accept. When they sold a gift card for $100, they wanted to get $100. They didn’t want to have to worry if that hundred dollar purchase would be worth $63 or $175 dollars the next day. It was as simple (or difficult) as that.
We took these objections back to the team and put our heads together. We knew that there had to be a way to solve this issue to allow merchants to be indifferent to the form of currency they accept, be it fiat or crypto. This has been the missing puzzle piece. And you know how annoying it is when you build a puzzle to find that you are missing a key piece. Well, we’ve found that missing piece.
Our team came up with a solution that is a true game-changer for the cryptocurrency market. Instant Settlements. Instant settlements remove merchant objections to cryptocurrency and enable it to become a truly mainstream currency and used for everyday transactions 🤜🎤.
So now, you’re probably asking yourself, Instant Settlements, what does that mean? Instant Settlements means exactly what it sounds like. If a merchant sells their gift card for $100, they get exactly that. $100 for the sale. No fuss, no muss, no stress. NetCents handles everything in the backend and guarantees the price of the cryptocurrency transaction in real-time at the time. This provides our merchants peace of mind and guaranteed protection against market volatility and illiquidity issues with cryptocurrency.
Merchants can choose to settle in their local fiat currency or they can choose to settle for another cryptocurrency. This is another first in the industry. This is truly a game-changing advancement for the industry.
Cryptocurrency is an untapped $270+ billion dollar, depending on the hour or day, market. People refer to it as Monopoly money because all you could do is trade it back and forth and you couldn’t do anything else with it. We can’t stress how important this is because we have now validated cryptocurrency to the industry. Bye, Monopoly.
Now that we have removed the largest merchant objection to accepting cryptocurrency, there is no reason why a merchant wouldn’t want to start offering cryptocurrency as a payment option. Not only do they get the economic benefit of opening their products to a fiercely loyal passionate crowd of consumers, they benefit by becoming a leader in their industry by being the first to accept this innovative form of payment. And who doesn’t want to be the first and the best?
Over the last year, we’ve introduced the various pieces to our product offering to become the backbone of crypto processing worldwide. We’ve adopted the strategy of partnering with leading merchant acquirers and payment processors to rapidly grow its user base. If you are wondering why we would do it this way, I highly encourage you to watch this week’s interview with the CEO of our largest partner.
With the most advanced and complete product offering, we’re rapidly becoming the go-to solution provider for crypto processing. Today’s announcement of Instant Settlements was the last missing piece to allowing mass adoption and use of cryptocurrencies. We’ve successfully positioned ourselves to be at the epicenter of this crypto revolution.
Cryptocurrency’s promise has always been one day. NetCents has made it today. It’s a day in the life and we’re ready to ride.
PS. I’m sure you’re trying to figure out the inspiration for today’s blog post…today’s inspiration courtesy of Fast and the Furious 6, Wiz Kalifa, and 2 Chainz. Enjoy!