The world is getting smaller. In the digital era, our seemingly boundless interconnectivity can help your business transcend the boundaries of nations, cultures and even currencies. For decades, businesses have had to mitigate losses caused by trading in international currencies. While no one overseas transaction is likely to be especially expensive for your business, if you trade over national borders often (or hope to), you could be compromising your profits by surrendering them to the whims of international exchange rates. It is for this reason that more and more businesses have made the decision to accept payments in and trade with Bitcoin and other Cryptocurrencies like Monero or Litecoin.
Since cryptocurrencies are still in their relative infancy, many small business owners are skittish about the prospect of incorporating crypto into their operations. Although many businesses large and small have begun accepting payments in Bitcoin, it’s understandable that some entrepreneurs may wonder what makes this unknown commodity worth their time.
Bitcoin is by no means the only cryptocurrency out there but it is the first and most widely traded form of crypto. If you want to start incorporating crypto in your business operations Bitcoin is a good place to start. As previously stated, using cryptocurrencies can help to mitigate monetary losses caused by fluctuations of exchange rates. Indeed, a petition has been raised to make cryptocurrencies the official currency of the upcoming Tokyo olympics for this very reason. But this is just the tip of the iceberg. You will incur no fees to receive bitcoins and most wallets have very reasonable default fees. Bitcoin is eminently secure especially if you use a Bitcoin VPS. Being able to accept credit card payments online usually requires extensive security checks to ensure that you comply with PCI standards. Although Bitcoin does require you to secure your wallet you do not have to bear costs or the burden of handling customers’ sensitive data. It also facilitates fast and secure international payments which can help to facilitate sustainable international growth for your enterprise.
Accepting Bitcoin payments
The great news is that you don’t need to implement any costly infrastructure to reap the benefits of trading in Bitcoin or any other cryptocurrency of your choice. There are a number of free and secure services which can help you to facilitate transactions without eating into your profit margins.
Looking to the future
The world of business is a fast paced and ever changing climate. Your customers need to be able to trust in your enterprise’s ability to move with the times and the changes both inside your industry and in the context of the broader economy. As such, many businesses like to incorporate their tech savvy into their branding; presenting themselves as a forward-looking business with their eyes firmly on the future. When you trade in Bitcoin you are showing your customer that you, like them, are ready to embrace the future.
Aside from facilitating secure and risk free transactions, trading in crypto can also help you to future proof your brand.