Click here to get this post in PDF
Small businesses and Cryptocurrency will seem like an extravagant idea. Many would ask one question. ‘Do we really have the budget for that?’ What we tell you is not about the budget but initiation, which can help your business reach new heights.
If you are a finance enthusiast and you have been keeping up with the trends, then you should know that Cryptocurrency is huge now. However, do not jump on the bandwagon because of FOMO (Fear Of Missing Out).
First, take enough information about the benefits of Cryptocurrency, and then weigh the pros and cons before introducing the digital currency to your business module.
Cryptocurrency For Small Businesses
Believe it or not, you wouldn’t be the first small business which is allowing small business transactions. A few have already introduced Cryptocurrency with the help of bit alpha and are doing great.
So, here is what you will be getting if you plan to do the same. Start your first-ever Cryptocurrency account like bitcoin-billionaire-pro.com.
1. A Leg Up With Competitors
No matter how your business motive and perspective are, it is not a 100% unique idea. You will always find competitors every time you open the internet to get some research done. Therefore, it is better to have a leg up above your competitors.
Sometimes it is not just about the product or services, but more so what you are giving the customers. At the end of the day, your customer feedback and support can make or break your business.
Adding a new transaction method like Cryptocurrency could put you on the trendy list, and your customers might trust you a little more. Plus, there are benefits that even you can enjoy; some of them are given underneath.
2. Trust & Protection
Speaking about trust, sometimes it so happens that customers do not feel secure enrolling credit card information to anyone, especially if it is a small eCommerce business just taking its first step.
Therefore, if they are willing to trade with Cryptocurrency, the decentralized nature builds trust. Moreover, they know no central figure is collecting all the data and keeping them in their possession.
The transaction is through a Blockchain ledger which hides the buyer’s identity for anonymity. This protects your buyer’s full identity, including transactional details, and prevents them from fear of data theft.
3. Secure Transaction
Blockchain is the ledger technology that carries out every transaction for Cryptocurrency. So, it is safe to say that you will use the safest decentralized technology for your eCommerce transaction.
Due to its highly impenetrable blocks, and unalterable technology, it is almost impossible to hack into a Blockchain network. Plus, every transaction is one way, and no one gets the Crypto back in their account unless the other party decides to send it back.
Every piece of information is anonymous, and once it’s in the Block, there is no way to delete it or tamper with it. This creates a safety net for the buyer and the seller.
4. Low Transaction Fees
Since Cryptocurrency is creating a phenomenon of being the digital gold and investment for the rich, it almost seems ironic how easy and cheap the whole thing is. Since no middle person or centralized body is taking up a commission, the transaction fees are within 2% to 4%.
If you compare the regular credit card, it is more than 5%. This might seem like a small amount, but every penny counts for a small business that is not getting bulk orders yet. Also, when you are working on a tight budget, a low transaction fee counts more than you can imagine.
How To Go About It?
Maybe it is time not just to start providing the trendiest payment option to your customers but also to start earning in Cryptocurrency. If you get your investment plan right, then both trading and investment will be top-notch.
Get Crypto QR codes for the ease of customers when they wish to pay on delivery.
Keep your expectations at bay because you might not have too many customers following the trend. However, that is not a sign of giving up the idea of Cryptocurrency.
After all, you are thinking about the future!
Disclaimer: This article is not intended to be a recommendation. The author is not responsible for any resulting actions of the company during your trading/investing experience.
You may also like: The Simplest Guide to Cryptocurrency for Beginners
Image source: Depositphotos.com
