Many businesses are reluctant to accept cryptocurrency as payment due to the volatile market, unfamiliar platform and processing fees. Canadian startup Dello has developed a platform that allows businesses to accept crypto and receive payments in their native currency.
How Does Dello Work?
Dello offers a mobile app and online platform for sellers. Once they sign up, sellers get access to a QR code. Buyers scan the code to pay for their purchase, deducting cryptocurrency from their wallet. The Bitcoin Lightning Network quickly processes the transaction.
Afterward, the seller receives an equivalent payment in their native currency so they don't have to invest in crypto if they're not interested. Sales are 100% final so buyers can't cheat store owners out of their payment. With Dello, sellers can accept in-person payments through a tablet or smartphone or online payments through their website.
Benefits of Using Dello
Before Dello, cryptocurrency owners were limited to NFTs, digital goods and a few stores that accept crypto. Now, virtually any store can accept cryptocurrency, allowing owners to buy food, clothing, books, cars, entertainment and other valuables.
Dello also makes it much easier for small businesses to work with crypto. Since Dello handles the transaction, all sellers have to do is provide the QR code. No previous experience needed--they can accept crypto without even knowing how blockchains work.
With this platform, businesses can accept payments from a new audience, opening up more sales potential. They might also get inspired to join the crypto industry themselves. With Dello, the already booming cryptocurrency business could skyrocket.