The world of cryptocurrency is improving at an exponential rate ever since the introduction of the first cryptocurrency into the market. In today’s market, a number of cryptocurrencies such as Ethereum, Factom, MaidSafe, Ripple etc, are thriving and can be purchased at competitive prices. Businesses and large organizations are shifting to the use of crypto currency since it is not affected by deflation or cannot be controlled by a central government unlike the currency of the country. The latest news in this field has shown that the price of Bitcoin has increased to an all new height.
Japanese policy makers and stock exchanhge commissions have made Bitcoin a legal method of payment in the country. The Australia government had enforced tax cuts for Bitcoins which helps attract the Australian investor to invest in Bitcoin. The block chain technology that was initially designed to mine and maintain all public transactions of Bitcoins revolutionizing the world economy since it changes the way in which physical transitions are made.
Here are the top 5 reasons why you should be using Bitcoin for your business:
1. The business isn’t exposed to volatility :
Australia’s latest budget is said to include a bit coin tax cut to make it easier to allow innovative digital currency business to operate in the country. Although the original price of the Bitcoin can increase or decrease, a lot of the sites provide options to convert the Bitcoin directly into the native currency whenever needed so that the company never has to face loss.
2. Usage of Bitcoins provides an exposure in the business market :
Usage of Bitcoins provides a great exposure and coverage since Bitcoin technology is the hottest and latest news that is taking the world by storm. Local news outlets provide good publicity for companies that register for using Bitcoins for business.
3. It helps lower transaction costs :
One of the main reasons why a lot of businesses are switching to Bitcoins is not just because it is fast and easy to use, but also lowers the transaction costs. Unlike most of the traditional payments methods like credit and debit cards that charge exorbitant rates for transaction, Bitcoins provide a 0% transaction fee.
4. Brings in a whole new avenue for customers :
The usage and acceptance of Bitcoins as a legal payment system brings in a whole new clientele. This instigates a message to the customers that the business provides a lot of opportunities to satisfy its customers’ needs. Today, a lot of the businesses are striving to provide unique and customised ways to enhance the client’s experience with them. It might be a deciding factor for a customer to choose that particular business over others.
5. Is very easy to understand and incorporate into the business :
It does not require the help of any professional to implement since the Bitcoin technology is very easy to understand and implement. A lot of online websites provide expert advice on how to integrate the system into the current business.