Should Early-Stage Startups Accept Crypto Payments?

Cryptocurrencies are changing the way business is conducted, and every startup needs to decide whether to embrace this new financial technology. While novelty is often met with hesitation, the fact is that cryptocurrency transactions have many benefits for companies and customers alike. As proof, we need look no further than the numerous businesses that have already successfully implemented crypto into their operations, which include web services, car manufacturers, online casinos, and many others. According to an expert review of the best crypto casinos in 2025, these establishments offer same-day payouts and often allow for anonymous betting, along with other advantages, making them popular with bettors.  

Reasons to accept cryptocurrency payments

There are multiple reasons for startups to implement cryptocurrency payments. For one, many buyers prefer using crypto over fiat currencies, and allowing for its use will help the company expand its customer base. Other benefits concern the company directly. 

Crypto transactions incur a lower fee than fiat currency transactions. PayPal, for instance, charges merchants a transaction fee of around 3% plus a fixed fee, while cryptocurrency payment processors often charge below 1%. The difference is even more pronounced for international transactions, since crypto transactions are completely devoid of a cross-border fee, making their implementation particularly useful for startups planning to sell their products or services internationally. 

Chargeback fraud is an issue many companies face. A customer will buy a service and then contact the bank, claiming it was unsatisfactory, which often results in an immediate refund. This cannot happen with cryptocurrencies, as crypto transactions are irreversible, and the only way to refund a service or a product is for the company itself to send the money back to the customer. 

Cryptocurrency payments settle in a matter of minutes, significantly increasing cash flow. This is also a benefit for customers, in the case of casinos, who highly appreciate fast payouts.

Cryptocurrencies’ decentralized nature helps prevent data breaches and identity theft, as data breaches most commonly occur in centralized hubs, such as the ones storing credit card data.

Considerations when implementing cryptocurrency payment

There are multiple ways to go about charging customers in cryptocurrencies, and startups need to make certain decisions. 

Firstly, a company needs to decide which coins to accept. The most widely used cryptocurrency is Bitcoin, and it is a secure and trusted option. Ether is the native cryptocurrency of the Ethereum blockchain, which has the benefit of facilitating smart contracts. Litecoin is renowned for the speed of transactions and its low fees. Companies concerned about the volatility of cryptocurrencies can choose from a variety of stablecoins, which are coins pegged to a certain asset, most often the U.S. dollar. There are many others available, and companies should research their strengths and weaknesses before deciding which to include. 

Companies can choose whether to store cryptocurrencies or immediately convert them to fiat currencies, and even have the option to completely opt out of handling crypto themselves, as there are payment processors which can perform the conversion and transfer the funds in fiat. 

Another consideration is the type of wallet used. It is actually suggested to use both a cold and a hot wallet. In this case, the cold wallet is used for storing funds in the long term, while the hot wallet facilitates fast transfers.