For every business the bottom line is always to make more money. Accepting Bitcoin is a brand new way of generating more revenue for existing and new businesses. The Bitcoin community is a huge online community of loyal customers.
Now here are the seven reasons why you should accept bitcoin!
No Charge backs. For businesses that sell digital products no more worrying about people reading or viewing your content and then charging back their purchase. Using Bitcoin as the mode of payment prevents this kind of abuse because Bitcoin transactions cannot be reversed.
Faster transaction speeds than credit card transactions. It takes two to three days for a credit card transaction to post to someones account statement. With Bitcoin transactions are confirmed every ten minutes. While that’s not instant it sure is a lot faster than multiple days like credit cards.
Bitcoin transaction fees are less than credit card fees. While its true Bitcoin has high fees with low dollar purchases. Its also true Bitcoin has extremely low fees with high dollar purchases. Every transaction costs about $0.20 in Bitcoin. If you are selling something that cost $0.15 you would be losing money. However if you are selling something worth $4,000 the fee for that transaction would cost roughly $0.20 in Bitcoin. Oppose to credit card vendor fees which is on average %4 of the transaction which would cost $160. The higher the price of your product the more you will save when accepting Bitcoin.
The Bitcoin community is a very supportive one. These people are really welcoming to new businesses accepting Bitcoin. Just by tweeting saying now accepting #bitcoin will get you a lot of free press. You might be surprised people in this community even write articles about new companies accepting Bitcoin. That means free press for your business just because you now accept Bitcoin.
More ways to pay means more money. Just because of pure numbers and marketcap accepting Bitcoin will increase your sales. Lots of people save up their Bitcoins and use it as a rainy day fund. People might have more Bitcoin than disposable money at any given time.
You can trade your Bitcoins for various other cryptocurrencies such as Litecoin and Ethereum. Which give you the potential to make even more gains playing the market. Using exchanges like Coinbase is how you trade Bitcoin into different cryptocurrencies and play the market.
When doing business over seas Bitcoin fees are often way less than regular currency exchange fees. Turning Euros to dollars costs a lot more than Bitcoins to dollars. Again $15 per Bitcoin transaction oppose to a fluctuating exchange rate of euros to dollars.
Want to know how to start accepting Bitcoin right now? It’s super easy! You can start accepting Bitcoin today using BitPays merchant tools! BitPay is easy to use and they have a great support team. If you have trouble during the regular instructions their support is fast and friendly.
Thank you all for reading and hope you have learned something today!
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