Today, more than ever before, there are hundreds of thousands of content creators spread across a global scale, all of which aim to create content they love creating and content that has a specific goal. Some educate their audiences, while others have the primary objective of entertaining them.
No matter what the case may be, each video or written content online, or even drawn content in the case of artists, takes time, effort, and dedication to accomplish.
What this means is that each creator is seeking ways through which they can monetize their content, and many of them turn to online platforms. However, a far more beneficial yet less explored alternative to centralized solutions is a cryptocurrency payments option.
By accepting tips or other types of payments from their merchandise or content, creators can benefit from a global market, as there are no restrictions when it comes to who can send cryptocurrencies to them and from what part of the world.
As such, today, we are going to go over everything you need to know when it comes to accepting cryptocurrencies as content creators.
- Cryptocurrency payments are globally available and accessible, which means that content creators can receive payments from anyone, located anywhere.
- Content creators can leverage blockchain technology and cryptocurrency payments to receive payments for their content and, in-turn, monetize it.
- They can still maintain a high level of anonymity, transparency, and accessibility due to the decentralized way in which blockchains are constructed.
- NOWPayments is a crypto payment gateway that will enable any content creator to accept over 150 different cryptocurrencies and even features auto-coin conversion.
Can you really benefit from crypto?
There are numerous ways through which content creators can benefit from accepting cryptocurrency payments, but to truly see how all of this would get tied together, let’s go over what content creators typically sell.
- Content creators will typically sell subscription plans for exclusive content that they might produce.
- Content creators will typically make fan merchandise, which can be purchased, such as clothing or gadgets, where their fans might want to support their favorite creator by buying these items.
- Content creators might sell courses or educational content explaining a specific topic.
There are hundreds of ways through which a specific content creator might have the ability and opportunity to essentially utilize their knowledge in order to appeal to their audience and monetize out of their skill set.
However, many of these solutions that are regularly available are restricted in specific ways.
For example, they can geographically restrict who can send payments and from what payment provider. Not every single payment solution out there will work on a global scale, and this, in-turn, severely limits the target demographic for content creators, even despite the fact that their content can be viewed globally.
Another key issue is the fact that many of these services will typically charge huge transaction fees to their clients, which in this case would be the content creators, where instead of the entire sum, or the majority of the paid sum would go to the content creator’s bank account, a huge chunk of it might get taken due to the transaction fees.
Additionally, content creators need to provide a lot of personal information in order to set these things up and gain access to these services. Now, if a content creator is specifically popular, their privacy is of upcoming importance as there are thousands if not millions of people viewing them, and the last thing they want is for them to know their full, real name, address, bank account, and so on.
As such, they lack the required level of security and anonymity within most of these centralized solutions.
However, this is where cryptocurrency payments can come to the big picture and provide numerous benefits for these content creators, and we are now going to go over the key benefits gained from crypto for content creators.
How to benefit from crypto?
Now that we know some of the issues or inconveniences that content creators might run into with traditional payment solutions, we can move forward with how they can benefit from cryptocurrency payments.
First, it is important to address the fact that cryptocurrencies run on top of blockchain networks, which are not controlled by a centralized authority but are stored on the computers of people who are spread out on a global level. This means that they work through a peer-to-peer (P2P) network. Anyone can, from any location in the world, accept or send cryptocurrencies with ease, as there is no centralized authority that restricts them in any way or can essentially block them.
Once a user puts in a request for payment, or once someone sends them a payment, all they have to do is confirm the transaction with the private key, and it will then get verified by the network. This completely removes the supported payment method issue that has been an issue with traditional payment services.
Second, there is the case of fees. Generally speaking, cryptocurrency payments have far lower fees when compared to FIAT and centralized alternatives. There are blockchains that can even facilitate cryptocurrency transactions that are without any payment fees, and even the ones that do charge a fee will typically charge it a tiny percentage of the overall transaction. These fees are required to incentivize the miners or the stakers behind the network to essentially maintain and secure it; however, they are far lower than centralized solutions.
Third, all of the transactions that occur on top of the blockchain are fully anonymous. This means that nobody can know the creator’s name or address, as each transaction is encrypted. Furthermore, in solutions such as NOWPayments, users do not even need to complete a Know-Your-Customer (KYC) procedure, which would normally involve them having to send personal documentation such as a passport, national ID as well as utility bills. This means that content creators can uphold the highest level of privacy and anonymity whilst accepting payments from a global user base and fan base, all of which feature minimal transaction fees if any.
Furthermore, there are features and tools that auto-convert cryptocurrencies, which means that the buyer does not need to have a specified cryptocurrency and can just use what they already have stored on top of their cryptocurrency wallet.
How to accept crypto?
If you have gone over the benefits of accepting cryptocurrency and, as a content creator, have come to the conclusion that this is the correct payment method that you want to utilize, we will now be going over everything you need to know when it comes to accepting cryptocurrency payments.
We will be utilizing the NOWPayments payment gateway as a means of streamlining this process as much as possible.
Here is what you need to do, step by step in order to complete this goal:
- Ensure that you create an account and leverage the power of the cryptocurrency payment gateway NOWPayment’s official page.
- Now you will need to provide your cryptocurrency address to your cryptocurrency wallet to which you would like to receive the cryptocurrency payments.
- Now you will need to essentially generate your API key through the utilization of a website.
- Once you end up completing all of the aforementioned steps, you will be provided with an opportunity to select a tool, one that will allow you to accept cryptocurrency payments. Ensure that you check out the list of the available options here.
This is everything you need to do in order to begin accepting cryptocurrency payments, and remember that NOWPayment provides support for over 150 cryptocurrencies that you can use.
Hopefully, now you know a bit more about how content creators can benefit from the power of cryptocurrencies, as well as from the payment gateway known as NOWPayments.
Cryptocurrencies represent one of the safest, most secure, and cheapest ways of transacting on a global scale.
Typically, fans of content creators will want to support them in some way due to the fact that they understand that creating content can be a time and effort-consuming process, which means that they might want to send tips, subscribe or buy their merchandise, exclusive videos, or exclusive courses or other types of content.
At the point in time when the online content creator begins accepting cryptocurrencies as a payment option, they are essentially opening the way for anyone from anywhere in the world to send them payments in the form of crypto, which reduces transaction fee costs, increases anonymity and security, and ultimately puts the creator in an advantageous position as they can carry on making content whilst also being supported by their fan-bases and overall followers.
This is why cryptocurrencies are one of the best payment options content creators can use and gain tremendous benefits out of.