Imagup General Magazine 2024
Back in 2013, a young man Adam Welsh walked into a restaurant and paid for his sandwich with Bitcoins because he didn’t have any money. For a $12.35 sandwich, he paid 0.04035 BTC. At that time, this was one of the two restaurants that were accepting digital currencies as a payment method. Today, we have a lot of small businesses that accepted it as a legit method. Moreover, some of the biggest companies in the world decided that making digital currencies a legit method of payment is a good idea.
Among them, we can see some of the best-known companies like Overstock, Expedia, Virgin Galactic, and Microsoft. This proved to be a good choice for these companies because the overall value of the cryptocurrency market reached $177 billion in the Q3 of 2017. After that, the value of the market continued to grow. Naturally, it had some ups and downs. We can say that today they are not so futuristic or adventurous opportunities for investment.
Instead, it became some kind of alternative payment method that is going to be used for everyday services and goods in the nearest possible future. Some of the owners of Bitcoin decide to create Bitcoin communities in order to help the owners of this popular digital currency with managing. If you are interested in taking a look at some of these, check btradesignalpro. This payment method is more secure and reliable than any others you can find in the world. It’s more convenient and more importantly, you can remain absolutely anonymous in transactions.
This is the reason large banking systems are skeptical about this whole concept, but we can see that it’s ready to create its root in today’s world. With that in mind, there should not be any surprise that this payment method has a future with small businesses. In order to provide you with an insight into small businesses and Bitcoin, we are going to provide you with several reasons that will provide you with enough facts to show you why this is important for small businesses. Without wasting too much of your time, we are going to start with this list of ours.
Free Transactions
Well, Bitcoin transactions are not always free. However, they don’t cost anything most of the time. When you compare it to the real world, a vast majority of transfer services are charging every time they are undergoing a transaction. Also, if you are working with foreign currencies, sometimes they can be exchanged at a rate that can be called unfavorable. As you know, you are going to find yourself losing money a majority of the time. This should be avoided at all costs. As we mentioned it Bitcoin transfers are asking for either a small fee or they are not looking for any fee at all.
No Borders
As you know, digital currencies are existing independently from banking systems. When you are dealing with classic methods of payment, the government or bank can charge you some money. This is especially bad if you are dealing with customers from other countries. The chunk that can be taken from you can be significant. Thankfully, when it comes to Bitcoin and other cryptos, there are no similar taxes or restrictions. The reason for this is that digital currencies don’t have any authority that oversees the process. Basically, all of the transactions are out of government’s control. This provides you with a possibility to avoid all of the export or import taxes in other countries. Still, you should know about the payment regulations that are in line with tax laws in your own country.
No Waiting Period
If you compare cryptos to real-world currencies, the biggest difference, after the obvious one, is that crypto transfers don’t have a waiting period. Usually, a bank can take up to five days to process your transactions. When it comes to digital currencies, all transactions are dealt within a matter of minutes. This is the biggest advantage of digital currencies have over traditional payment methods. Again, the main reason for the quickness of the transaction is responsible that you cryptos don’t have any authority above them. The liquidity is an essential part of business, especially if you are the owner of the business, right?
A Good Investment
For almost a decade cryptos are a very good option for investment. Even today they can be called like that. However, you should know that the situation is the same as it was in the beginning. As you might know, the value of certain crypto can skyrocket in a matter of days or can get really low. Because of this instability, some people were skeptical about investing in them. However, we feel like this trend is far from over. One thing that we don’t recommend is that you shouldn’t use only Bitcoin. But remember, even owning a small portion of some digital currency can be very significant for your future portfolio. The most important thing you should consider investing in crypto is that they can help you reach new heights when you are in need of it. You cannot be sure when, but you can’t lose anything by owning a few of these. This is the road that is not without its risks, but we feel that you should try it most definitely.
The Protection of Privacy
It doesn’t matter what is the nature of your business, you should always have in mind that your privacy needs to be protected. Naturally, because cybercriminals are now more sophisticated than they have ever been, this should be on the top list of your priorities. Bitcoin and many other digital currencies are respected because of the anonymity they are providing their users and their transactions. This is known as pseudo-anonymity. The reason for this is that all of the digital currencies you are owning are stored in your electronic wallet that doesn’t require you to reveal your identity. This makes it impossible for hackers to attack it and rob you. This one probably the highest possible measure you can take for prevention.
