Accepting cryptocurrency is the main must-have for brokers in 2023
Contrary to skeptics’ expectations and predictions, the volume of cryptocurrency transactions continues to grow. The so-called stablecoins show the greatest stability, as they are used in payments more often than super volatile Bitcoin or Ethereum. Let us remind you that Bitcoin was losing more than 60% of its value last November. It does not make much sense to use such currencies in transactions. Stablecoins, tied to fiat and backed by bank reserves, are a different story. According to coinmarketcap.com, the most popular stablecoins with the largest capitalization are currently Tether (USDT), USD Coin (USDC), and Binance USD (BUSD). Taken together, these findings allow us to make long-term predictions for the continuous increase in cryptocurrency transactions, and this is a good sign for Forex brokers.
Why Forex brokers are better off with a crypto gateway
Those brokers who don't yet have a cryptocurrency gateway to accept payments should take care of it now. Regulators are closely monitoring financial companies. As a result, licenceless brokers can no longer accept payments by bank cards. This means that if a company cannot have a bank account, accepting Visa or Mastercard payments is not available to it. As an option, the broker can accept payments through electronic payment systems and other intermediaries who charge exhorbitant commission, easily in the 8-10% range. Also, due to the tightening regulation in the financial sector, customers from some countries in Asia, Africa, and the Middle East no longer have access to bank processing. In addition, cryptocurrency holders are interested in working with companies that are willing to accept it. From what we have seen in recent years, the trend of financial overregulation is going to continue all over the world. So if a broker wants to expand their geography and get more varied customers, gain a competitive advantage or just stay afloat, it is better to start learning how to work with cryptocurrency now.
In our previous articles, we talked about the pros and cons of accepting cryptocurrencies and how to automate these payments in your company.
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
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
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.