10 Reasons why Businesses should Accept Bitcoin
Bitcoin has been around for 8 years since its invention in 2009 and people are still trying to know what it is and how it works. Every emerging technology comes with its advantages and disadvantages and it’s important to compare the rewards vs. risk of venturing into the technology. In this article, we will look into the reason why you should accept Bitcoin as a means of payment in your business.
Here are some of the reasons you should accept Bitcoin as a means of payment in your business:
Bitcoin has low transaction fees
The aim of any business is to maximize profits while minimizing costs. Bitcoin has lower transaction fees than other financial institutions and platforms making it one of the reason businesses should switch to the platform. Bitcoin is neither similar to credit cards nor PayPal it’s quick and does not attract high transaction fees. It works very well for organizations which like e-commerce since there is no entry barrier.
One important thing you should not is that Bitcoin is borderless and its transaction fees do not change from country to country. This makes it very convenient when paying for goods or services from other countries since you will save time you would have used following up bank transfers. More to that the conversion of Bitcoin to fiat currencies is very simple because there are genuine organizations like ExagonPay which offers the conversion of Bitcoin to Euro or dollar at very minimal costs.
Bitcoin can attract media coverage which can raise your brand awareness
Bitcoin can give your business great exposure regardless of the business you are conducting. By listing your business in ExagonPay you can start accepting Bitcoin immediately. With Bitcoin still trending you can easily become the talk of town which can attract more customers even other Bitcoin users because of the community attachment. There are many businesses which have grown by accepting Bitcoin and being popularized by the media because of it.
Empowering your customers
Customers like to know the progress of a business they are associated with and the new technologies they are embracing to improve service delivery. Adding Bitcoin as a payment option in your business would be unique and would not only give exposure to your customers but give them a sense of belongingness and pride. Accepting the currency would make it know to more customers which would be great for the growth of the sector.
Getting support from the Bitcoin Community
Bitcoin users love supporting their own and therefore users knowing that you accept Bitcoin as a means of payment would give you new clients since most of them would want to be associated with you. Bitcoin users are always ready to spend their Bitcoins in friendly businesses and this would be a great opportunity to boost your business.
Accepting Bitcoin won’t negatively affect your business
It’s true that only less than one percent of the world’s population accept Bitcoin as a means of Payment. However, the rates of adoption are increasing day by day. More to that there are not terms of accepting Bitcoin neither are there licenses you have to accept Bitcoin. Bitcoin will only make you unique and give you belongingness to the Bitcoin community.
Help you move with technology
Bitcoin is moving very fast towards becoming mainstream and a regular means of payment. It’s expected that digital currencies will eventually replace fiat currencies. To avoid cases where you are caught flat-footed it’s important to start accepting the technology to ensure that you are safe in case the current traditional currencies get outdated.
The beauty of accepting Bitcoin as a means of payment is that you get support from platforms in the sector like ExagonPay ensuring that you can convert your Bitcoin to cash any day any time.
Since people can pay for goods and services without having to reveal personal information like billing addresses they feel secure and enjoy the freedom that cannot be provided by credit cards. The fact that personal data is not revealed cases of a personal data breach is prevented. When a fraud case is detected it can be investigated before it happens since companies like ExagonPay have special support systems which ensure that your business is safe at all times.
There are no chargebacks
In normal online payments people can make a payment and after receiving goods or services by lie to the online payment service provider it was a wrong transaction requesting their funds back. With Bitcoin payments, such instances do not occur since the payment is final.
Ability to control your own finances
Bitcoin is decentralized meaning that you have total control over your finances enabling you to make informed decisions about your money. This is unlike the centralized system where banks control your finances which at times causes inconveniences. A good example is that you cannot withdraw certain amounts since there are withdrawal limits. More to that there is a lot of time wastage moving to banks to get payments approved. With Bitcoin, there are no weekends or holidays you can do your transactions at your convenience and without limits.
Accepting international payments
Bitcoin came to give a relief to international businesses. This is because through Bitcoin you can avoid the cross-border fees. With Bitcoin being borderless you can do business from any corner of the world which gives your business an opportunity to expand the customer base. With Bitcoin, there is no restriction on who you can sell your goods to. You can join the Bitcoin movement by simply joining the ExagonPay movement which has been offering excellent services to businesses including converting the bitcoins to cash and ensuring business flow.