Hundreds of thousands of businesses in this decade are trading with Bitcoins. Majority of the merchants trading with Bitcoins are the ones who are enlightened about the future. If you don’t have any idea about how to trade with Bitcoins, you may start by getting a few of them in your pocket. There has been a hype going around of how difficult it is to obtain this crypto-currency. This often prevents people from trying them out. However, accepting Bitcoins especially as a merchant has a lot of benefits.
Here are a few reasons why merchants should accept Bitcoins.
Ø Low transaction fee
Compared to the rates of the fee charged from the credit cards, those charged from the use of Bitcoins is considerably lower. This is one of the top reasons why the modern merchants prefer the use of Bitcoins mainly because of this reason. In fact, this is the reason why stores like Walmart are making more profits and savings more than the average and small businesses. Moreover, large enterprises like the one mentioned above can easily negotiate on lower transaction fee and credit cards, unlike the small businesses. Therefore, the use of Bitcoins can easily reduce credit card processing fee to less than 1.
Ø Fraud prevention
With the use of Bitcoins, it is much easy for clients to pay for services and goods without revealing any personal information such as the billing addresses and their names. Using of Bitcoins has the benefit of enjoying a level of protection of identity theft. The credit card users can not offer this level of identity protection. With Bitcoins, personal identity is not in any way attached to the forms. It can barely be intercepted because it is more or less like electronic or digital cash.
Ø Ability to get paid quickly
Small businesses and also the average ones can hardly run with cash at hand. Having Bitcoins wallet makes you have the money within your reach meaning that you will handle transactions easily and faster. Problems experienced with credit cards unlike Bitcoins are that your cash can be put on hold for a couple of days and this will probably inconvenience you.
Therefore as a merchant running either a small or a big enterprise lies in your interest to choose bitcoin wallet in place of credit cards and cash. This will not only increase profits for your business but also ensure your finances and identity is safe from the hands of fraudsters.