Over the last couple of years, the use of digital currencies has gone through the roof. Consumers and businesses all over the world are utilizing them in ways best suited to them in order to ensure the safe and secure transactions of funds.
In Pakistan, while this new way of sending and receiving payments has seen slow adaption, the trend is steadily gaining momentum. The credit for this goes to Gen Z and Millenials who are quite keen on technology and discovering new trends around the world.
However, a lot of digital currency wallets are yet to be made available in Pakistan. This has led to the emergence of digital money exchanges in Pakistan. They have made it easy for locals to buy and sell e-money without any hassle. PKR2Dollar offers similar services to an e-currency exchanger in Pakistan. You can convert your Pakistani Rupees into any currency of your choice and transfer it in different e-wallets like Neteller, Payoneer, PayPal, etc.
Now, if you are wondering about the advantages of using digital currency, we have listed some down for you.
- Lower Transaction Fees
Credit card fees can be quite high, especially when international transactions are concerned. On transactions, they can be anything from 2% to 5% or more. If you have clients in another country, you will feel the pain when you have to spend a large sum of money on transaction fees in order to accept payments from them. However, if you choose to go for digital currencies, you will pay a considerably lesser charge, perhaps none at all.
- No Chargebacks
You can avoid chargeback fraud by using digital currency. Customers will sometimes buy a product, utilize it, and then request a complete refund from their credit card provider for some made-up reason. This is frequently viewed as a business expense by companies.
However, you don’t have to deal with chargebacks when you accept payments digitally. The sale is only completed once you receive the payment from your customer. Of course, you can keep the option of a refund open if you believe that it is a good business practice. But it is comforting to know that you’re not obligated to issue a chargeback if you suspect fraud.
- Faster Receipt of Funds
As discussed before, there is quite an issue regarding transactional fees when making or receiving international payments. Not only that, but it takes days and sometimes even weeks for the money to actually show up in the bank account.
Although when we look at digital currency, the processing period of a transaction is much faster. It takes but a few minutes for the transaction to be completed and for it to show up in the e-wallet. Think of the difference between the two like sending an email vs. posting a letter via mail.
- No Inflation
This is a serious issue in many Third World nations, as central banks inflate their currencies to stay afloat. It’s also evident in Pakistan, where inflation is substantially higher than the Consumer Price Index implies on numerous commodities. With digital currency, such as Bitcoin or Ethereum, there is no such thing as inflation because the coins’ supply is limited and their algorithms are complex.
- Greater Trust With Your Customers
Since your customers’ credit cards aren’t saved on your system, you build a stronger rapport with them. Cyberattacks have hit large firms like Target, JPMorgan Chase, and Home Depot, exposing their customers’ saved credit card details.
This is impossible with digital money. Your consumers don’t give you their credit card numbers. Instead, they give you an encrypted code for one-time use to conduct the transaction. Your consumers will have peace of mind knowing that their financial details have no way of being exposed to the public.
- Become A Part Of Digital Currency Enthusiasts
This is a crucial marketing message to remember. Users of digital money are often ecstatic about the possibilities of this new financial tool. They favor firms that take Bitcoin and other digital currencies and are more enthusiastic about conducting business with them.
- Access To The International Market
Revenue can be increased by using digital currency. You diversify your business by allowing funds to be received from people in different nations, which helps in alleviating economic volatility in any particular location. This increases your revenue-generating opportunities and allows you to serve consumers all over the world.
Now that you know of all the benefits of using digital currency, it is time that you use a reputable exchanger to buy, sell, and invest in different e-currencies. You can opt for PKR2Dollar, as we are the best e-currency exchanger in Pakistan, allowing you access to various digital currencies around the world. So, get in touch with us now and get started on your exchange.