3 Reasons Retailers Should Start Accepting Bitcoin
Since bitcoin was invented in 2009, there has been an overwhelming demand and popularity in this cryptocurrency. Barely ten years after its conception, countries all over the globe have recognized bitcoin as a legal form of currency. Considered to be digital gold, bitcoin’s blockchain technology is comparable to the internet, becoming a necessity for consumers and businesses worldwide.
Bitcoins are not controlled by a central bank or a country, making it a universal form of currency that is more easily available to transact with. All you need is internet access and you are set to make transactions using bitcoins. Considering that customers are almost always online, with physical business establishments even offering free wifi internet to patrons, offering bitcoin payment option to customers seems to be a sound business decision to retailers who want to offer convenience to their customers.
But there are more reasons to offer this cryptocurrency as payment method other than convenience. In fact, there are 3 good reasons why your store should start accepting adding bitcoin payments. Let’s look at each one of them:
100% Secure and Safe
When it comes to bitcoin transactions, customers can feel secure that none of their personal information will be disclosed or hacked. When it comes to user privacy, bitcoin is the ideal currency to transact online with, as all bitcoin transactions are processed anonymously using bitcoin addresses. This is one reason why so many major retail establishments trust and have embraced bitcoin technology. Aside from retail stores, even online casinos trust this cryptocurrency. These include Fortune Jack, as per our source here. In fact, they even offer huge incentives to their patrons to encourage bitcoin users to use their bitcoins instead of fiat currency, giving up to 5 BTC in total deposit bonuses and 250 free spins for new users. And while there are more than a thousand cryptocurrencies to date, bitcoins are the most trusted there is.
More Efficient Transactions
Transactions can be made anytime and anywhere, even on bank holidays! No need to wait for a number of banking days for clearing unlike check payments and there are no specific hours for making transactions – unlike bank transfers. Transaction fees are zero to minimal amounts, and there are definitely no fees for international transactions. Your customers will appreciate that their transactions can be done in a matter of minutes.
Attract New Customers
Needless to say, there are millions of bitcoin users in various countries around the world, around 21 million by December 2017. By offering bitcoin payment as one of your payment methods, you are opening up your business to attracting these users. Being a digital form of payment, most bitcoin users perform online searches to learn which merchants allow this cryptocurrency as a mode of payment. When you opt to add this as a payment method for your customers, chances are, your website page stating this or an article including you in their list of businesses accepting bitcoins will appear in their search results and you might just gain their interest and purchase from you.
Bitcoin technology is a phenomenal breakthrough in the financial world, and there is no reason why a business establishment should not embrace this cryptocurrency, given its positive overall performance of the past years. Now is the best time to join thousands of businesses worldwide in offering this option to your customers.