Since its value shot up to $19,000 dollars in late 2017, bitcoin has become a household name. Due to the fact that bitcoins are popular and that transactions can happen anywhere in the world. Businesses have started to embrace bitcoins a payment.
Below are five reasons why your business should include bitcoins as a payment option.
1. Bitcoins are accepted worldwide.
Bitcoins are not limited to any geographical area. Because it is a digital currency anybody with internet can easily access bitcoins anywhere they are and transact. A business owner will have the opportunity to do business with people from anywhere in the world and accept bitcoins as payment.
It is advantageous to business owners because it will be now possible to transact with customers outside your geographical region. This helps a business increase its sales, hence becoming profitable in the long run. Apart from that, it offers you the business owner a lot of flexibility because you too can transact with other business owners worldwide.
2. It is difficult to con or counterfeit a bitcoin.
Bitcoin is one of the safest currency, and its integrity is guaranteed. It is difficult to counterfeit bitcoins because all transactions that are done using bitcoins are recorded on a public ledger where everyone can see the transaction.
It is also very difficult to change these transactions on the bitcoin ledger. As a result, bitcoins have become a reliable and trusted mode of transaction.
There are companies that also allow you to convert your bitcoins into the currency of your choice after a transaction. You can also Buy Bitcoin at Luno or any other genuine cryptocurrency bureau in order to avoid being ripped off by conmen.
3. Your business can attract new customers that own or prefer to use bitcoins.
Bitcoins has attracted a large following over the past few years. This could have been attributed by the fact that the value of a single bitcoin rose to unimaginable heights from nothing.
The privacy and anonymity involved in the use of bitcoins has also encouraged many to use bitcoins when transacting. Business owners should tap into the growing demand for bitcoins and start transacting in bitcoins.
4. The transaction is safe, fast and cheap.
Other payment processes such as credit cards or checks are a bit expensive and slow. It is also very risky to handle large amounts of cash unless you have a strong safe.
There are no transaction costs when sending bitcoins from one person to another. Including bitcoins as a payment option is also cheaper on your part as an entrepreneur.
5. The value of the bitcoins is not affected by the local economy.
Storing your money in bitcoin form can cushion you when the economy in your country is not good. The value of bitcoin is affected by the rise or fall in its demand. This means that the value of bitcoins you get from your customers could rise even when the economy is not friendly.
If you decide to include bitcoins as a payment option, ensure that you take every measure to ensure that you store your bitcoins safe in a wallet of your choice.