Cryptocurrency like Bitcoin, Ethereum etc. are the future of money. Voltaire once said "Paper money eventually returns to its intrinsic value - zero." This is why all serious business owners should consider accepting crypto as payment for goods and services. You should get ahead of the curve because this change will come!
What is Cryptocurrency?
Cryptocurrency is a digital asset that is used as a medium of exchange. Cryptography is used to secure financial transactions, control the creation of additional units, and verify the transfer of assets. It is a safer and more secure way of handling and storing finance. Many people still do not fully understand the use of Bitcoin and other digital assets but they do know that bitcoin has made many millionaires since its inception around 10 years ago. These digital assets increase in value over time unlike the dollar and other fiat currencies. Today, many banks, online merchants and major corporations are considering accepting or creating their own digital coins for the purpose of doing Business.
Bitcoin is the first cryptocurrency ever created. It uses blockchain technology to decentralize big government and gives people more power over their own finance. This digital currency can be transferred securely between two parties using private and public keys which allow for less fees than would occur with more traditional means of transfer such as Western Union or your local bank.
In any case, bitcoin and other cryptocurrencies need real case usage. By accepting this form of Payment for goods and services, the masses will began to adapt to the change that is pretty much inevitable.
In any case, bitcoin and other cryptocurrencies need real case usage. By accepting this form of Payment for goods and services, the masses will began to adapt to the change that is pretty much inevitable.
Reasons to Accept Cryptocurrency as Payment
1. Paper Money Will Be Obsolete
All business owners should consider accepting cryptocurrency as payment because the U.S dollar and other fiat currencies will not be around forever. If a company wants to sustain a profitable business for generations, it is imperative that it starts accepting new forms of currency as soon as possible. Doing this will set the business owner and all partners up for many years of future profits.
2. Cryptocurrnecy is an Asset
As mentioned before, crypto is an asset. All businesses and business owners need to have more assets and less liabilities. The U.S. dollar is a liability! It has been a liability since 1971 when President Nixon completely abandoned the gold standard. Accepting cryptocurrency will help to add value to any asset portfolio and add a source of revenue for your business.
3. Lower Transaction Fees
Credit card processing fees can be a large expense for any business. Each credit card transaction includes multiple fees that cut into the merchant’s profits. Credit card processing fees can range between an average of 1.5% to 2.9% for swiped cards. Whereas cryptocurrency payments are normally below 1%. This can make a real difference for any business.
4. Transactions Move Quickly
Along with the lowest transaction fees, crypto payments process very quickly compared to bank transactions. While bank transactions may take up to a week to process, cryptocurrency payments can be completed in a few minutes. Customers and business owners will be very satisfied with the swiftness of the blockchain!
5. No Charge Back Fees
Businesses often lose a lot of revenue due to charge backs. People report to their credit card provider that some sort of fraud has occurred and the business that took the payment ends up having to deal with a Visa or MasterCard charge back. Crypto payments cannot be changed. They are recorded to a public ledger and can eliminate fraudulent charge backs.
6. No Third Party Involvement
Most monetary transactions involve a bank as a third party to payments. With crypto, money is transferred between the wallets of the two parties involved. Banks cannot close or freeze your account funds for any reason. They have no control over your money.
7. New Business from New Customers
Many people are starting to have more trust in cryptocurrency and they are acquiring currencies such as Bitcoin and Ethereum as a way to save or invest their hard earn fiat. Soon people will be looking to make large purchases such as cars, boats, houses etc. Owners of these sort of businesses should be ready to accept crypto as payment.
8. Do Business Worldwide
Any business owner that does international business should accept cryptocurrency for the fact that it helps to avoid foreign transaction fees. This is especially useful for import and export companies.
How to Accept Cryptocurrency as Payment?
If you or someone you know would like to accept crypto as payment for your online or offline business, you should really take a look at Karatbars K-Merchant payment system. K- Merchant allows for any business to easily accept Bitcoin, Ethereum, or Karatbars gold backed coin KBC as payment for services or goods. These coin can be saved to a cryptocurrency wallet or be converted instantly into cash. This short video explains how it works.
Benefits of Karatbars K-Merchant
1. There is No Hardware to Purchase.
This is a simple software that can be be installed on any Android or IOS device.
2. Free to Get Started
The service is free to get started and free for the first six months. After six months, it is around $200 for a year of service. If you know how expensive credit card processing and merchant fees can be, then you should know that this is a great deal!
3. Secure Transactions
As a K-Merchant business owner, you will have access to a transparent and decentralized exchange system on the blockchain.
4. Convert Crypto Instantly into Cash
When you accept cryptocurrency as payment with K-Merchant, you can convert those payments of Bitcoin, Ethereum, or KBC instantly into the fiat currency of whatever country you are in. This service is available in 140+ countries and counting.
5. Karatbars Affiliates Benefit as Members of the Gold Standard Bank
As an affiliate of Karatbars International and the owner of the K-Merchant account, you will benefit by having the ability to maximize your profits while accepting cryptocurrency as payment for your goods and services. Open your free Karatbars affiliate account HERE.
Register for your free K-Merchant account HERE
