Is your business accepting bitcoin? Have you integrated the crypto payments option into your business? If you are not accepting bitcoin in your business, you are losing out on a lot. As more and more people have the desire to buy bitcoin, there are also many of those who want to use it as a means of payment. In this blog, we will take a look at the major businesses that have integrated crypto payments globally and the benefits they are enjoying.
Cryptocurrencies have a lot of advantages over the traditional payment solutions. This explains why the biggest companies in the world are integrating BTC and other cryptos. Here are some of the positive perks of accepting cryptocurrencies in your business. Reasons to Integrate BTC into Your Business
● Minimal Merchant Fees Compared to plastic money (credit and debit cards), bitcoin transactions are three times cheaper. Card transactions often take as much as 3% of the total money processed. Plus, a lot of card payment providers also have several undisclosed fees levied on different transactions. If you care about your business, you should embrace bitcoin and other cryptocurrencies to save some money.
● Security Most payment solutions available today are vulnerable to hacks. Every year, businesses lose billions of dollars to credit card scams. These are losses that you can't afford to incur as a business owner. Cryptocurrencies are much safer than traditional payment solutions. While bitcoin is not immune to hacks and theft, it is relatively safer than the traditional bank cards.
● Real-time Transactions Bitcoin transactions are instant. You get the money in your crypto wallet shortly after the transaction is made. The business owner has access to the money and can use it to replenish supplies and scale the business.
● Global Payments Made Easier BTC payments are borderless. This makes BTC ideal for running international businesses. They can process transactions from anywhere in the world. The transaction fees are uniform irrespective of where in the world the money is coming from. Now that we've seen the benefits of accepting bitcoin as a payment option, which companies are already accepting bitcoin? Should you integrate it into your business? Top 7 Businesses That Accept Bitcoin Microsoft You know bitcoin is onto something when companies like Microsoft start accepting it as a mode of payment.
The company's founder Bill Gates has been a very big fan of cryptocurrencies (except their anonymity), and it is not surprising that it is a part of their payment methods. The company took a short break from accepting BTC in their stores but their Xbox stores are back to allowing the cryptocurrency. If Microsoft sees value in using the cryptocurrency, why shouldn't you try it in your business? Overstock Overstock is one of the first retailers to accept cryptocurrencies as a mode of payment.
The company specializes in selling everyday items at affordable rates, accepts bitcoin and other cryptocurrencies. Overstock should be a case study for the millions of retailers in the world that are scared to adopt cryptocurrencies. Accepting cryptocurrencies has opened a new revenue stream for the company. The cryptocurrency trial has been as much successful, that the company has decided to venture into crypto holding as well. If you are a small company in the retail business, Overstock should be a motivation for you to give bitcoin a try. You won't believe how much the move will boost your business.
● Namecheap Namecheap is a domain name registration company. They sell cheap domain names to internet businesses all around the world. You probably have visited a website whose domain name is registered by Namecheap. That's how big the company is. The company decided to accept bitcoin and this move changed its business fortunes. This move saw Namecheap finding favor in the tech community who are their primary customers. Although there are no exact numbers to prove the growth of their business, the company's online presence increased after the move to accept cryptocurrencies.
● Newegg If you are into cryptocurrency mining, then you have probably heard about Newegg. This company specializes in customized computer hardware used to mine cryptocurrencies. Besides mining equipment, they also have a range of consumer electronics for the general public. Newegg accepts bitcoin and other cryptos but only on a range of commodities. They have limited the items which you can buy using bitcoin as part of their test to see the effectiveness of the payment method and its impact on business. Whenever you are buying from Newegg, always confirm if the product you are looking for is part of the catalog which you can pay for using BTC. If it is, then select bitcoin on the checkout page and complete the buying process.
● Wikipedia Wikipedia is home to free information for all. The open-source information hub relies on generous donations from users across the world to run their services. They recently announced that patrons can make donations in the form of BTC and other crypto coins.
● BMW Dealerships Did you know that you could walk into a car yard and pay for your next car in crypto? Well, some dealerships across the United States and Europe allow their customers to purchase cars using BTC and other cryptos. Disclaimer: Not all BMW dealerships in U.S.A and Europe have adopted this model yet, ask their customer service to get clarification before committing to make a purchase. But in the future, once cryptos have penetrated the auto industry, you will be able to walk into literally any dealership armed with your bitcoin wallet and make a car purchase.
● AT&T Yes, you can pay for your mobile cell service with BTC. AT&T is the first player in this industry who is keen on taking advantage of the proliferating love for cryptocurrencies to boost their business. Customers can clear their mobile bills on Bitpay and enjoy AT&T's services. How convenient? Conclusion If these large businesses have enough confidence in bitcoin with all their billions at stake, what's holding you back from giving it a go? It could be the big break that your business has always yearned for. Whether we like it or not, cryptos are here to stay, and the sooner you integrate them into your business, the better.