Bitcoin Lightning Network: The groundwork for a unified global payment system using crypto, which will empower both individuals and corporations.
To help bring cryptocurrency payments into the popular, Wexo has included features including a Bitcoin acceptance map, instant transfers backed by the Lightning Network, and the ability to use conventional debit cards for purchases.is firmly established as a major digital asset, with a market value that is approaching $1 trillion. The problem, though, is that it has not yet achieved widespread acceptance as a payment method.
Only one percent of U.S. consumers utilized cryptocurrency for purchases in 2023, according to data from the Federal Reserve. Furthermore, in 2023, just a small fraction of Bitcoin transactions were utilized for commercial purposes.
Many crypto projects are working to close the gap between cryptocurrency and more conventional forms of finance to make Bitcoin more widely used for everyday purchases (TradFi).
Crypto payments in daily life
Wexo is a cryptocurrency platform that connects individuals and businesses by offering a range of financial services for the efficient management of digital assets. Wexo’s innovative features, safe design, and intuitive UI make it simple to explore and use digital assets—even for inexperienced users.
However, Wexo’s application, which is intended to handle transactions via the Bitcoin Lightning Network, is now available to businesses. Bitcoin payments are inexpensive and instantaneous with this network. Businesses may accept cryptocurrency payments using a smartphone app and the app’s wPOS terminals, eliminating the need for additional hardware.
Simplifying recurring payments
Wexo offers services like Crypto Standing Instructions to help consumers handle their digital assets more easily. With the help of these features, users can plan regular payments and make regular transactions run more smoothly. This capability supports the following features: fixed-cost Bitcoin payments, bulk payments to multiple recipients, and transaction alerts.
Wexo’s wallet service makes it possible for international transactions within Europe to use the Single European Payments Area (SEPA) for easy deposits and withdrawals of fiat money. With the Euro Wallet, exchanging cryptocurrencies for euros can made easier.
The EURO Wallet streamlines the process of transferring funds between cryptocurrency and fiat money. As said by Wexo
Wexo is a website that stands out for its worldwide map, which shows users where businesses are accepting Bitcoin. Businesses using app-based virtual terminals can add themselves to this map to attract new customers.
Also Read: How to Get A Bitcoin Wallet Address?
The website also facilitates payments using standard credit cards, Apple Pay, and Google Pay, allowing customers to purchase digital assets with a few mouse clicks.
Wexo is launching an e-SIM program that lets users order local mobile data packages while they’re on the go. The introduction of this service is a reaction to customers’ increasing demand for seamless connectivity. To make Bitcoin a global currency, Wexo seeks to meet traveler needs.
Bitcoin Cashback loyalty program
Wexo completed the integration of digital assets with TradFi, and as a result, the company is currently building the framework for other loyalty programs, including Bitcoin Cashback. Business owners will be able to provide their customers who consistently make payments with discounts in the form of cashback to their Bitcoin Lightning wallets through this campaign.
Additionally, Wexo is going to launch a global gift card program that will let users spend their cryptocurrencies at major retailers like Apple, Amazon, McDonald’s, and IKEA. In March, this initiative will get underway. Users will be able to spend cryptocurrencies for their regular purchasing needs by using these payment gift cards.
The platform plans to release a Wexo Kids app in the future to teach young people about cryptocurrencies and money management techniques. Furthermore, the organization’s strategy calls for the creation of liquidity pools and the attainment of 10,000 acceptance points by 2025. One of the long-term goals is to have fifty million active users worldwide by 2028.
To put it succinctly, the acceptance of cryptocurrencies in everyday transactions is opening the door for digital assets to surpass traditional financial models in terms of mainstream usage. Initiatives like Wexo are helping to speed this vision’s realization by reducing adoption barriers and bringing us one step closer to a fully linked economy.