Why pay with cryptocurrency?
21.02.2022
Originally posted on Finextra
It seems that the Ministry of Finance and the Central Bank of the Russian Federation have managed to overcome the crisis known in psychology as the Kübler-Ross model. It describes five stages of dealing with a crisis situation, beginning with denial and continuing with anger, bargaining, depression, and, finally, acceptance. Apparently, this is what happened with cryptocurrency in Russia. The government has accepted that digital currencies are the new reality and stopped thinking about banning them.
As we see it, two concerns have hindered the recognition of cryptocurrencies in Russia so far:
-
The welfare of non-professional investors who could lose all their money on risky investments
-
Massive cryptocurrency use on the black market
Interestingly, when you talk to people about cryptocurrencies, they often cannot imagine any other ways to use them: in the eyes of an average person, cryptocurrencies are still considered a way to get rich quickly.
As it happens, people in countries with a developed and open financial system (and Russia certainly belongs to them) often do not think about, or rather do not know about, the fact that in most countries of the world, where the vast majority of people live, any currency purchases or currency transfers outside of the country are strictly controlled. To understand the extent of the problem, it would be enough to say that these countries include China, India, and almost all of Africa and Southeast Asia, with a combined population of over 4.5 billion.
At the same time, in all these countries (except maybe China), cryptocurrencies are legal, thus creating a situation where they become a more convenient payment method than fiat.
This is especially important for small IT companies. At UpTrader we develop software for small companies in finance, and this type of business is the most common in emerging markets.
Therefore, the legalisation of cryptocurrencies in Russia is a real gift for us. Moreover, I think that it will favour the inflow of foreign capital into Russia and the country's image. It also means that there will be more money, which means everyone will be better off.
Subscribe to our news
By clicking this button, you agree to us processing your personal data
Recent news
UpTrader CRM has introduced a new feature in the BackOffice module that allows managers to add notes to fields for transactions: deposits, withdrawals, and internal transfers. This functionality is incredibly useful for managers who want to keep track of the history of each transaction and add relevant information and details to the notes section.
With this feature, managers no longer need to refer to external documents or communication channels to find information about a particular transaction. The ability to add notes to payment transactions makes it easier to manage client accounts and resolve any issues that may arise, saving time and effort.
Overall, this feature enhances the user experience and enables managers to work more efficiently within the UpTrader CRM. UpTrader CRM is committed to providing the best tools and features to its clients to help them manage their businesses more efficiently.
Yours UpTrader Team
22.03.2023
We are glad to announce that UpTrader, a leading provider of customer relationship management software for Forex brokers, has launched a new feature in its Forex CRM: Local Payment Agent. With this new feature, Forex brokers now have the opportunity to add payment agents by themselves in order to receive payments from clients in cash at their offices or through other local methods. This feature significantly simplifies the work of brokers in regions where there may be difficulties with payment acceptance through bank processing or popular payment systems.
The Local Payment Agent feature is free and available to all UpTrader clients. To enable it, simply contact the technical support department through tickets.
UpTrader is committed to providing the best tools and features to its clients to help them manage their businesses more efficiently.
Yours UpTrader Team
17.03.2023
The independent web-portal Liquidity-Provider has made its own Top-5 list of the Best Forex CRM Providers in 2023 and we have found out that UpTrader CRM has become the leader of the top solutions.
“It’s a pleasure to know that our colleagues highly estimate our CRM. We have been working hard on the product in order to satisfy forex brokers with the easiest and most effective CRM that helps run their businesses. Therefore right now we are developing a demanding module for sales department. I suppose we will announce the release very soon”.
Elena Berestovaya, CMO UpTrader
According to liquidity-provider.com UpTrader CRM is the ultimate software solution for brokerage firms, offering a variety of tools to manage customer relationships and automate administrative processes. This system includes a back office, trader's room, and copy trading software that can be connected to all favored trading platforms like MT4, MT5, and cTrader.
UpTrader CRM is a one-stop solution that covers everything from registrations and KYC processes to lead management, bonuses, promotions, and deposits/withdrawals. Additionally, the software enables traders to take advantage of its advanced analytics feed, which includes free technical & fundamental analysis, an economic calendar & daily news updates.
10.03.2023
Subscribe to our news
By clicking this button, you agree to us processing your personal data