It seems as if Bitcoin is nowadays everywhere. This cryptocurrency is entering different fields and is becoming mainstream. Consumers are also trying to use it at their stores, online, as well as a way of payment or as a bonus at their company. Are you a business owner yourself? If so, you might want to consider this as a way of payment and as your next go-to breakthrough move in your business or in your firm. Keep on reading and see why all modern businesses should accept bitcoin.
- 1. Better security
- 2. Better fees
- 3. PR opportunities
- 4. Brand allegiance
- 5. The cost
- 6. International sales
- 7. No chargebacks
- 8. Easy to use
- 9. Better publicity
- 10. Amazing speed
- Are there some disadvantages?
- Not as famous
- A bit reluctant
- Adopting a new method
10 Reasons Why All Modern Businesses Should Accept Bitcoin
1. Better security
Bitcoin is a chain-driven currency that is well-known and popular because of its security forms when it comes to making transactions. Did you know that each transaction is recorded on a public ledger? Your identity is always kept private and you will feel safe at any given moment. Every business can feel safe and trustworthy, as well as highly-operational when it comes to protecting the privacy of their client or customers, it is a safe method both ways.
2. Better fees
Their main selling price point had almost no transaction fees in the past. However & nowadays, this platform has its own value and has transaction fees that are a bit less than a dollar, which is more practical as well as trustworthy than other payment methods. It is also quite affordable for most employees.
3. PR opportunities
Press releases are used to spread the awareness of every brand, and some amazing PR opportunities can help you create a franchise when it comes to your business. You can even shape your campaign around this currency and enjoy the publicity that it gets as time goes on. It is an amazing investment and a good PR deal.
4. Brand allegiance
Some companies are already using and working with Bitcoin. Most industries love to use it as their payment method since it is a new and innovative way that works in this market, and during this digital era. Brand allegiance means working alongside other modern brands since you don’t want to look like you’ve fallen behind, right? This can be an amazing defensive measurement that will protect you from any public scandals, and getting onto this train beforehand could be the right step.
5. The cost
Credit cards will charge and take 2-3% of your income. This applies to most and every bank that is on the market. On the other hand, a BTC fee does not depend on anyone, but it is important to get the transaction quickly processed. The fee when it comes to mining is around 1$, as previously mentioned. It is also a practical and trustworthy method for receiving these payments as well.
6. International sales
If you want to go big and bold, and you wish to expand – you can! Most markets will allow you to work with international companies and you will also get your wanted freedom. When you’re selling a product, banks altogether will accept this payment within 3 days, which is great for anyone who is in a rush.
7. No chargebacks
Chargebacks can make your workflow a living hell. Think about it. How much time and energy do you want to spend dealing with this aspect? Growing your business is easy with BTC since the process is irreversible, and all transactions are easily processed. This goes for both ways, payments, and charges.
8. Easy to use
BTC is simple, as well as easy to use, no matter your age! Millennials and Gen-Z’s are getting onto this trend the quickest, are you ready to hop on this trend as well? You should do your basic research and understand the most simple steps that will allow you to use your e-wallet with ease, and to make transactions onto your bank accounts (both yours and of your workers).
9. Better publicity
You can be the first business in your area or in your town to develop this process and take it a step further. BTC can make for amazing headlines by most local newspapers, which will further help with your revenue and the flow of your business. You will also end up in some tabloids and blogs, as well as podcasts, so why not give it a go? It is good for a breakthrough and start-up company.
10. Amazing speed
Traditional transactions may take a lot of your time. Sometimes we have to wait for an entire week to get these funds onto our accounts and properly processed by the bank. Delays are usually quite bad during holidays and on some special events, but this can vary from one country to another. Speed up the wait and make your employees happy with BTC speed!
Are there some disadvantages?
There are always some pros & cons to every method, and this can vary and depend a lot on your preferred effect and outcome. In this case, here are the most common disadvantages at the moment:
Not as famous
People don’t use it as much since it does have mood swings, or price swings better to say. Ever since 2017, it did have its good and bad days. Think about its volatility beforehand.
A bit reluctant
Are you a reluctant business owner when it comes to newer methods? This is pretty natural for everyone. However, accepting this system will be a good step in the long run and in the end. Understanding your new options beforehand will lead to better goals.
Adopting a new method
Business decision-makers can feel a lot of pressure. BTC payments are not always a top priority, but you will understand the system as time goes on, just be patient with it.
At BMMagazine you can find everything there is to know about this crypto and all of its pros and cons. They also have an in-depth article on how the technology works, as well as its terms of security. You can begin your modern business approach asap, so what are you waiting for?