Autoconversion Feature: A Step-by-Step Guide to Effortless Cryptocurrency Conversion

Dec 23, 2024

3 min read

Contents

What Is the Auto-Conversion Feature in Crypto Payments?
How Does Auto-Conversion Work?
What Benefits Does the Auto-Conversion Feature Bring to Merchants?
How to Set Up Auto-Conversion on the Inqud Platform

Inqud offers a suite of powerful tools designed to streamline payment processes for businesses. Among these, autoconversion is an indispensable feature that is worth your attention. By automating the conversion of cryptocurrency payments into your preferred currencies, autoconversion helps merchants save time, optimize operations, and protect their funds from volatility.

In this article, we’ll dive deep into what the autoconversion feature is, the benefits it offers, and how to easily set it up for your business on the Inqud platform.

What Is the Auto-Conversion Feature in Crypto Payments?

The autoconversion of crypto is a cutting-edge financial tool designed to simplify the way businesses handle cryptocurrency payments.

This feature enables merchants to automatically convert incoming cryptocurrency transfers into other currencies at real-time rates.

By using autoconversion, businesses can:

Save time by eliminating the need for manual exchanges.
Protect their revenue from market volatility by immediately exchanging crypto and avoiding price fluctuations.
Optimize operations with seamless and efficient settlement in the currency of their choice.

Whether you accept crypto payments as a primary or supplementary method, autoconversion ensures you never have to worry about fluctuating market prices.

How Does Auto-Conversion Work?

As it was mentioned, autoconversion simplifies the payment process by converting incoming funds automatically to the currency selected.

Understanding the mechanism of how does the autoconversion work is pretty easy and simple:

When a payment is completed on the user’s side, the autoconversion feature instantly converts the received cryptocurrency into your business’s preferred currency.
Inqud allows merchants to convert incoming payments into either fiat or specific cryptocurrencies based on their operational needs.
The conversion happens automatically and at no extra cost, making it a seamless and efficient solution for businesses.

By reducing the need for manual intervention, the autoconversion feature allows merchants to focus on what matters most – growing their business.

Let's take a closer look at the different advantages that businesses can benefit from using an autoconversion feature.

What Benefits Does the Auto-Conversion Feature Bring to Merchants?

Using the cryptocurrency conversion feature on Inqud provides multiple advantages for businesses that accept crypto payments:

1.Mitigate Risk
Protect your revenue from market volatility by locking in stable values. With autoconversion, there’s no need to worry about sharp price swings in the crypto market, which can happen within minutes.

2.Streamline Operations
Save time and resources by automating the conversion process. This high-speed mechanism ensures real-time accuracy, allowing you to focus on scaling your business rather than dealing with tedious manual conversions.

3.Expand Financial Flexibility
Tailor your financial strategy with flexible conversion options. Whether you prefer to hold funds in fiat or a specific cryptocurrency, the autoconversion feature adapts to your needs.

By utilizing these benefits, businesses can optimize their payment workflows and better manage their cryptocurrency funds.

How to Set Up Auto-Conversion on the Inqud Platform

It is only a few clicks process to set up and explore the full potential of the autoconversion feature on the Inqud platform. Follow these steps to activate it:

1.Sign up or log in to your Inqud account.

2.Navigate to Widgets in the left-hand menu and open the Widgets space.

3.Set up a new widget to manage your payments.

4.In the Currency settings section, activate the currencies you wish to accept from the list of available options.

5.In the Auto exchange to column, select the currency you want to convert incoming funds into.

And that’s it! It’s just a matter of minutes to start utilizing the autoconversion of funds with ease.

The autoconversion of crypto is a must-have feature for businesses of various niches that accept crypto payments. It not only safeguards your funds from market volatility but also allows you to hold assets in fiat currencies and save time on manual conversions.

We hope this guide has given you a clear understanding of the benefits of cryptocurrency conversion and how to easily set up this feature on the Inqud platform. Take advantage of the autoconversion tool to enhance your financial operations.

Ready to take advantage of the autoconversion tool? Try it today on the Inqud platform and experience the difference it can make for your business!

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