Advantages of Bitcoin for Small Business

More than 100,000 businesses have already accepted Bitcoin. These include well-known companies such as Microsoft and Dell. However, it is not only big companies that can benefit from Bitcoin. Many small businesses can also benefit from it. How Does?

Small businesses often have to pay high commissions for transaction fees. Therefore Bitcoin can be an excellent choice.

Generally, the Bitcoin transaction commission is between 1% and zero%. This is because Bitcoin does not require a bank to verify each transaction.

With Blockchain, you don’t have to wait for money to reach your bank account. This means, in theory, that you can get your money almost instantly from a customer.

If your overseas customer portfolio is large, Bitcoin is a great solution for you because it is a global currency, that is, you are not bound by limitations.

Bitcoin is a digital currency that generates more cash than credits. This minimizes the number of payment disputes that can occur, as Bitcoin transactions are precise and cannot be challenged by the customer.

If this is a problem with your business, Bitcoin can really help you.

Accepting Bitcoin as a payment method can also be considered an investment opportunity.

Although the volatile price is a negativity for the company, it can be seen as an advantage, since it will benefit when the value increases.

Of course, as with any investment, there are a number of risks. Although legal regulations are not sufficient, this may change in the following stages. The existing structure may leave open doors to fraud and theft. As we have just mentioned, although you can benefit from price increases, you can go in opposite directions and experience losses.

Finally, since it is still not officially accepted, it may be difficult to plan financial statements, calculate your taxes and determine your prices.

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