Why Your Business Needs To Start Accepting Bitcoin Payments Now

While many businesses have already joined the Bitcoin revolution by

accepting bitcoin payments, many are still hesitant to make the jump. They

are afraid that with Bitcoin’s volatility, they may end up essentially giving

their products or services for free. What this means is that they think they

are going to get shortchanged if the price in bitcoin drops and would,

therefore, lose all their profits. But this is absolutely not the case! In this

article, you’ll find out exactly why you shouldn’t miss out on accepting

bitcoin payments.

1 – Instant Bitcoin Conversion To Your Local Currency

Bitcoin’s volatility is a business owner’s biggest concern. But with payment

gateways like BitPay and Coinbase, you can easily bypass Bitcoin’s

volatility. These services will instantly convert your bitcoin payments into

your local currency which you’ll receive in your bank account the following

business day. This means that if your customer paid you $100 worth of

bitcoins, then you’re going to get exactly $100 in your bank account.

2 - No Chargebacks. Ever.

One of the most common things business owners hate with credit card

payments is the very real threat of receiving a chargeback. Some

customers are just fickle-minded and dishonest. They would file

chargebacks for the smallest reasons like they’re not happy with the color

they got, or they regretted the purchase, or something similar. But with

bitcoin payments, you don’t need to worry about chargebacks because all

bitcoin transactions, once verified by the Bitcoin network, are final and

irreversible. This means those bitcoins you’ve received are yours (unless of

course, you chose to have them instantly converted to dollars).

3 – No Costly Processing Fees

Credit cards are widely accepted worldwide, and merchants like receiving

payments from anyone with a valid card. While credit cards are convenient,

there are fees that merchants need to pay. Credit card fees can range

anywhere from 3% to 4% per transaction plus another few cents for each

transaction made. If you receive card payments from 99% of your

customers, you’re basically paying a small fortune in credit card fees!

With bitcoin payments, the transaction fees you have to pay are nowhere

near what you pay the credit card companies. In fact, the fees are

practically negligible as they essentially come down to just a few thousand

Satoshis (1 Satoshi = 0.00000001 bitcoin) or a few cents!

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