Bitcoin was the very first cryptocurrency made in late 2008, ancient 2009 by Satoshi Nakamoto. Because the technology is so new, many consumers and business owners don’t understand how it works. Cryptocurrency, along with other disruptive technologies themselves can be frightening and somewhat esoteric.
As people, we are inclined to dismiss matters we do not know. However, as business owners, we will need to see that cryptocurrency is currently shifting not just the customer experience, but also money itself. As every day passes, more and more of our customers are utilizing cryptocurrency as a form payment for products and services. But, based on what source you look at (and there are not many), less than one percent of the planet’s population is utilizing cryptocurrency. So, why should you care?
As immediate reply and electronic marketers, cryptocurrency provides you and your clients choices and solutions to issues which weren’t solvable a few years back. Listed below are a few of reasons why you might want to begin offering cryptocurrency for a payment option for your business and your customers:
1. We Accept Bitcoin!
The expression, Bitcoin, is unquestionably a buzzword that we are speaking about. In the USA, many polls show that Bitcoin has been heard of by the majority of the populace. No one owns Bitcoin itself. There’s not any office or company. Depending on the concepts of democratization and decentralization, the name itself is free from copyright and available to be used by the public. Make the most of this and let your customers know that you accept Bitcoin as a kind of payment. Send an email out, announce it as a social media post, position it as a website popup, or incorporate it into your shopping cart. Companies like Coinbase and BitPay provide merchant services that plug directly into your normal checkout process. You can convert the cryptocurrency to a fiat currency or keep it in its original form.
2. Your Bottom Line
The old school traditional credit card processing and banking businesses are trying to produce options for retailers from the cryptocurrency area. A number of the solutions which are made available by businesses that are cutting edge, so as to accept cryptocurrencies, cost less. Some choices have ZERO chargebacks and ZERO fees. Companies like BitPay and Coinbase charge a flat fee of 1-2%, whereas other traditional merchant services change between 2 and 5%.
3. It is the Future
There’s a good deal of talk globally concerning cryptocurrency and Bitcoin with regard to its volatility, usefulness as a store of wealth and kind of payment. Naysayers will inform you Bitcoin is a bubble, or even lots of the cryptocurrencies are a bubble. They might just be right. There’s been a market correction in Bitcoin, since December 2017 it has fallen ~172%. Bitcoin, or cryptocurrencies’ purchase price, isn’t applicable to this particular discussion. Your cost is the cost for your merchandise, and you’ll be paid that in fiat currency or cryptocurrency.
Cryptocurrencies aren’t going away, because they’re currently getting more and more accessible, more secure than obligations and approved. With companies like Expedia, Microsoft, Overstock, NewEgg and lots of others accepting cryptocurrency, rest assured…it’s here to stay.