The Reasons Why Merchants Should Start Accepting Bitcoin Right Now

Can you imagine a world that is slowly moving into a digital environment, paperless, safe and secure mode of holding currency digitally? More than 80 K businesses are accepting coin currency from customers, forward thinking by merchants to stay in the markets profitably have adapted business solutions. Adapting the bitcoin payment system is in trend and cost-cutting is another major factor that has pulled in many of the merchants to use this form of payment solution globally.

Digital payment companies are growing at a steady pace, their goal is to adopt the best way to keep the business in the forefront and highlight their products and services. The bottom-line is staying ahead in the highly competitive environment and maximize on profits.

  • Lower transaction fees, in highly competitive markets, have made small businesses to quickly go digital and accept the bitcoins as payment sources, the fees are as low as 1 percent which helps the smaller growing business to scale up their operating and make it a profitable venture
  • another major factor is your identity is protected, the level of anonymity that that digital transactions have is high and no personal information is required to complete the transactions over the web, nothing is intercepted, at TrulyCoin no information is divulged as everything is encrypted, and just a number based keys are transferred from the buyer to the seller
  • as transactions are final once the bitcoin comes into the digital wallet of the merchants, there is no scope of any chargeback‚Äôs, the amount of time and money wasted on retracing the card dispute and resolving the issue could be challenging, with digital payments, there is no scope of any tampering of the data or transactions.

The amount of time credit card processing and then finally the time is taken for the fund to reach the merchant is long. Small businesses have a very short cash cycle, hence a longer wait for funds could be challenging for them, and with bitcoins payment is immediate.