Sirwin
Sirwin
Bitcoin

Accepting Bitcoin as Payment

By Buzzbeeg | The Crypto Cave | 20 Nov 2020


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Beautiful beautiful Bitcoins.

There are several advantages of taking Bitcoin as payment. Depending on who you are the different advantages I am about to list could mean everything or nothing at all.

  • Non-refundable. Someone can’t just call the Bitcoin company and make up a lie that they never received their product. Once you have the Bitcoin it’s yours.
  • International. Provided you have internet and some sort of computer device you can download a Bitcoin wallet and take payments. You don’t have to worry about the customer coming from a country with poor currency. It’s also much faster than Western Union Wire Transfers. You can also make payments with it anywhere in the world that a merchant accepts it.
  • Non-Institutional. Bitcoin is not tied to any government, corporation, religion, or institution. If you live in a country with a failing government or failing currency you can still do business and not worry about losing all your hard earned money.
  • Lower Fees. As mentioned before the fees are much cheaper than Western Unions.
  • Security. The Bitcoin network has never been hacked. Provided you properly store your private keys your Bitcoin is safe.
  • Non-banked. Bitcoin does not require a bank to use. This means that you can take online payments from people who do not have bank accounts. You also won’t have all those pesky bank fees. You also don’t have to worry about your Bitcoin being frozen arbitrarily by a bank.
  • New Customers. Make an announcement that you are accepting Bitcoin and it will draw attention from the cryptocurrency crowd. Believe it or not there are more of them then you think.

Getting Started

Many people are intimidated by Bitcoin and do not think they can figure it out. But I assure you it’s not as difficult as some people make it out to be. There are plenty of websites that will teach you about Bitcoin including OKEx Academy and my own Quora Space The Crypto Cave.

I also suggest buying a small amount of Bitcoin off a reputable exchange like OKEx to experiment with. Buy 20 USD worth of Bitcoin, download a Bitcoin wallet and see how it goes for you. You really have to just try it out to decide if Bitcoin is for you. If you have any questions just feel free to ask and have a great day!

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Buzzbeeg
Buzzbeeg

I work for several Cryptocurrency projects including Silica neXus and Divi Project. I also write on Quora and share many of the same posts that I share here.


The Crypto Cave
The Crypto Cave

The fun side of crypto; making money, blockchain games, and learning. Like my thoughts on Crypto? Check out my Quora space: https://cryptocave.quora.com/ and 🔥Subscribe to our Free Investment Newsletter. https://theartofthebubble.com/newsletter/🔥 This post is provided for educational and entertainment purposes only and should not be relied upon for business, investment, taxation, or legal advice.

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