We know of individuals who swear by investing in cryptocurrency. But individuals are not the only ones looking to buy Bitcoin. More and more businesses are looking into the acceptance of cryptocurrency into their business model.
Why would they do that? Well, despite its volatility, Bitcoin is one of the most valuable commodities on the market today. Moreover, there are more and more platforms emerging for buying, selling, and trading cryptocurrency. While it may still be some time before cryptocurrency becomes the preferred method, it is certainly gaining traction.
1. The Investment Opportunities
Though it may not be necessarily that your company is looking to buy Bitcoin, that does not mean you should be averse to obtaining it. When you want to grow and expand the business, Bitcoin can be a perfect investment opportunity. The great thing is that it applies whether you are a startup or an established business.
Referred to as “digital gold,” Bitcoin has been a steady riser throughout the years. It has even gotten up to the point where the price per bitcoin was over $1,300. When looking to grow a business, accepting Bitcoin may have exponentially more growth potential than typical currency.
2. No Banks
Even for businesses, there is always the underlying concern about having to go through banks for transactions. Bitcoin is actually a peer-to-peer network, which eliminates the need for a centralized bank to perform the transactions.
What does all that mean? Well, it means one currency and far quicker transactions. When it comes to raising capital for a business, that can mean quicker and less expensive raising methods while also cutting out the need to visit banks to obtain a loan. Done the right way, cryptocurrency can be a game-changer for businesses.
3. Anonymous Transactions
One of the major selling points behind the use of cryptocurrency is that transactions can be done anonymously, peer-to-peer. Money is stored in a digital wallet, which can be as simple as using a smartphone or can be done through an encrypted hard drive that is stored offline.
Either way, your identity is protected and so too is the identity of your business. Transactions can be done safely and securely without there being an underlying threat to the business. In a time when cybersecurity is of the utmost importance, cryptocurrency can provide an additional layer of safety for businesses and their vendors.
4. International Payments
Since there is one uniform currency, that means no having to worry about exchange rates if you want to conduct international transactions. Buying and trading bitcoins also has no credit card fees attached since they are not tied to any specific regulations.
All of that means that doing business is less expensive. There is no middle man to pay. Moreover, payments are instant, making transactions quicker than ever. For businesses looking to expand their products internationally, Bitcoin is a secure, quick way to get transactions processed without having to spend an exorbitant amount on credit card fees or other costs.
5. It’s Easy To Use
Perhaps the biggest selling point for cryptocurrency when it comes to both individuals and adults is that it is very easy to use. Banking is still a fairly convoluted process when you think about it. Visiting the bank to transfer money can be a huge pain, for instance.
But with a digital wallet, it is easy to transfer funds either through an app on your favorite device or right on your computer. Moreover, there are ways to “mine” bitcoins through complex puzzles, which are growing in popularity across the web.
The mining in particular is quite interesting. Every 10 minutes or so, there is a winner of these mining puzzles that get awarded five bitcoins. While that may not seem like much, remember that at its high point, a single bitcoin was worth over $1,300.
Regardless of what your stockpile of Bitcoin is, there are a vast number of upsides to using it. With the flexibility and reduction in fees, it only makes sense that more and more businesses are beginning to accept it as a form of payment. That just inches us closer to a crypto world.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.