Espay-X Identifies Barriers For Retailers In Crypto Sphere and Its Solutions

JAMAICA, N.Y. - Jan. 23, 2020 - PRLog -- Espay-X Forecasts Increase Of Retail Adoption

It is interesting to note that some applications made available by cryptocurrencies work better in various industries. Casino and iGaming industries were also quick to adapt, with Bitcoin casinos making customer payments at their front desks, gift shops and restaurants. E-commerce companies should provide an alternative without the normal transactional hassles to make international payments. In addition, coins for secrecy have seen increased adoption not only in illicit trade but also in transactions which require high levels of confidentiality.

According to Max Hunt from Espay-X, "this is really great news for the whole Crypto-Money industry. Not only that, but the amount of institutionally managed funds focused on cryptocurrencies as an asset class is rising all the time."

BARRIERS FOR RETAILERS IN ACCEPTING CRYPTOCURRENCIES

Unfortunately, there are still many barriers which prevent merchants from accepting more widespread cryptocurrency payments.

VOLATILITY

The primary challenge is the intense uncertainty of the cryptocurrency market; retailers are having difficulty embracing, and customers are having trouble investing in an environment that is seeing prices spike so drastically.

LIQUIDITY ISSUES

Bitcoin can also be hard to liquidate causing enormous financial risks for retailers. If adequate liquidity is provided, merchant profitability would be reduced (due to large spreads), market volatility would increase, and operational output would be delayed.

What Espay-X Suggests

According to Max Hunt, "one possible solution to the above-mentioned problems is that merchants have access to trading platforms running on custom cryptocurrency exchange software (https://www.espay.exchange/crypto-exchange-software) that locks the real-time exchange rate and allows transactions to be settled either in cryptographic or fiat type." If cryptocurrencies were recognized as a method of payment this would mitigate risk and inefficiency in the company.

About Espay-X

Espay is a leading Crypto Exchange Software Development company based in Australia. We are fintech expert established in 2011 to deliver next-generation trading platforms to the businesses who want to take a deep dive into the crypto exchange field. We have a team of more than 100 highly experienced and skilled developers who are always ready to serve you at your conditions.