Bitcoin is skyrocketing and becoming more popular every day. People are buying and using Bitcoin more than ever before. But if you’re new to Bitcoin it can seem daunting. It’s a whole new world, and there’s a lot of technical jargon used with Bitcoin. So why should e-commerce merchants accept Bitcoin? There’s a lot of benefits, let’s list out the top 5.
It opens up a new market
Bitcoin users are some of the most outspoken, but loyal people. They love anything that has anything to do with Bitcoin. And they love spending their Bitcoin. Shops that accept Bitcoin get shared around on Twitter and other platforms as Bitcoiners recommend these shops, literally just because they accept Bitcoin. People will buy goods from stores that accept Bitcoin just because they can.
Essentially, it’s free marketing, especially if you’re a niche store. You will see a lot of new customers coming in to explore your store and they will have a boatload of Bitcoin to use. Why not jump on that wagon train?
It is an instant investment
Bitcoin’s price has been skyrocketing. At the time of writing, it is $36K. That’s crazy considering it was $10K just a few months ago. But Bitcoin isn’t just about the short-term gains and losses. Over time Bitcoin is going to keep on rising, just like the stock market. Accepting Bitcoin at your e-commerce store means your sales instantly go into investments. That is really useful!
Bitcoin payment processors are typically a lot cheaper than the giants like PayPal. While PayPal nickels and dimes you, some Bitcoin payment processors charge only a 1% fee. So not only are you paying less, but you’re also supporting fellow small businesses. A lot of Bitcoin companies are homegrown and trying to provide services to their fellow entrepreneurs. This is in contrast to big companies like PayPal who are just in it for the money and power. Don’t you want to pay less?
It’s easy to install
If there’s one thing that Bitcoin users know how to do, it’s to make easy-to-use software. Bitcoin payment processors are often really easy to set up, even if you don’t know much about tech. Most will walk you through the process and have a bunch of tutorial videos to make sure nothing goes wrong. And if you’re using a major e-commerce platform like WordPress, it’s even easier. A lot of Bitcoin companies have plugins built right into the system that you can download as a Plugin.
It’s safe and secure
To top it all off Bitcoin is one of the safest and most secure forms of payment out there. Bitcoin is anonymous, and it’s almost impossible to hack. Doing transactions in Bitcoin means you don’t have to worry. Additionally, some Bitcoin payment processors offer Direct to Wallet options, which means they never touch your Bitcoin. It goes straight from the customer to the store owner with no middle man. This is in contrast to payment processors like PayPal which can hold onto your money and even steal it if they close your account.
Using Bitcoin means you have control over your sales and your payments, you don’t have to worry about safety and security beyond your normal internet safety. And you’re not propping up a big internet company that just wants more and more money.
Well, there you have it. If you own an e-commerce shop, what are you doing still reading this? Get out there and accept Bitcoin today! You won’t regret it, and there are even more reasons beyond these five. So what are you waiting for? Get paid in Bitcoin!