Small Businesses Save Hundreds of Dollars in Credit Card Payment Processing Fees Accepting Bitcoin
It hard to recall the last big thing that affected small businesses and retailers since the acceptance of credit cards in the early 1970’s. When credit cards started to become popular, small businesses and retailers were left out in the cold. At that time accepting credit cards at a small business was almost impossible. Approvals were done by signature and/or telephone call. We remember being at the department store check waiting for the cashier/clerk to call using the black phone for a credit approval. Those days are long gone.
Imagine if you would have invested in the Mastercard / Visa network. Well, that’s Bitcoin today. And even though the Bitcoin popularity is through the roof, so it seems, many retailers and small businesses are still not accepting Bitcoin as a form of payment. Online e-commerce shops are also behind when it comes to accepting the cryptocurrency as a form of payment.
Here are some of the advantages of accepting Bitcoin at your small business, retail shop or restaurant. Some legal professionals are already accepting Bitcoin such as lawyers, doctors, dentist and even architects.
- Cheaper than MasterCard and Visa processing fees. Don’t expect to pay up to 3% to process payments. Bitcoin is cheaper than any traditional plastic card payment processing system.
- Get paid faster. No more waiting for banks to settle credit card slips. Your Bitcoin payment arrives in as little as 3-5 minutes but can take up to a half-hour on very rare occasion. But still, much faster than any other payment option.
- Payments can be made anonymously by discreet buyers. For example, sex toys, hotel rentals, and other personally “private” purchases.
- And with today’s rapidly increasing Bitcoin value, you may be able to make some extra money on your sales. If you get paid $500 today, tomorrow that same $500 could be $525. But not always the case.
- Win a sale from a customer who wants to pay with cryptocurrency or will not otherwise make the purchase using another form of payment.
OK. So is your small business ready to accept Bitcoin? Click here to get started and once your small business trades more than $100 in Bitcoin, you will get an extra $10 in your CoinBase Bitcoin wallet.