We all know that bitcoin is very popular these days. However, the mining or bitcoin production process is two and limited in supply, i.e., have to solve complex mathematical equations that are not the case of the common man. Moreover, inflation increases day by day, and the value of a currency is going down and down. Still, bitcoin is a deflation currency, which means the value of bitcoin will increase over time and not decrease. So, it is a better option to accept payments in cryptocurrency (bitcoin) rather than fiat currency as the value is decreasing day by day. So, in this article, you will learn how you can use bitcoin as a payment gateway to accept payment in bitcoin, and there are a lot of benefits of bitcoin payment. So, without wasting time, let’s learn the benefits of accepting bitcoin as a payment system.
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You can save money through bitcoin
If you are running your business, then saving is the most important thing. Without saving, you cannot invest in your business to further the expansion of your business if you are selling goods and services and accept online payment through other payment gateways such as through Credit card and debit cards and through a third party that will charge the high commission about 2-3% in each case.
You know you are losing your savings, and it will affect you in the long term because when your income increases, the fees will be doubled, tripled, and so on. Bitcoin charges a minimum amount of transaction fees of about 1% that is too low compared to other payment gateways. Bitqt-app is the platform where you can check the fluctuations and earn through trading.
Banks charge high fees to convert the currency, and if you want to transfer it to a foreign country, it is not in the case of bitcoin. On the other hand, bitcoin currency is the same all over the world, and you can send money to anyone and receive money from anyone all over the world. So, accepting money in bitcoin will help you save money in the long term, whether you are running a small business or large organization.
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Millions of Bitcoin Users:
There are millions of bitcoin users worldwide because people want to use their bitcoin for shopping purposes, and there are over 1,60,000 merchants that are accepting bitcoin as a payment method. The amount is normal, and people want to purchase a variety of goods and services. However, suppose you can accept bitcoin as a payment system, and no merchants in your niche are accepting. In that case, you can expand your business exponentially, which means you can make the business skyrocket and generate huge revenue for yourself.
Benefits of Fluctuations
If you are running your small business, it is important to you to accept Bitcoin payment because you can benefit from the fluctuations. For example, suppose you are using bitcoin as a primary method, and you have purchased raw materials or goods at the wholesale price. You have paid them in bitcoin, the price of the bitcoin was low at the time, and now it’s time to sell into the market. You saw the price of bitcoin is increasing when people will pay you in bitcoin; you can earn extra revenue through bitcoin by not considering your margin on the products, which means some percentage of your earnings come from bitcoin and some part from the margin from products that you are selling.
Expansion of your business
Bitcoin will help you expand your business because bitcoin is accepted worldwide, and millions of users want to buy through bitcoin. You can expand your business by adding the new payment method, i.e., the bitcoin payment method, from your local to the international level. You can sell products worldwide because there is no transactional cost or very few transactional fees; instead, other payment gateways charge a high amount to accept payment from foreign countries or convert the currency. There is another benefit you can keep a QR code to your physical shop like google pay and Paytm, and by scanning that code, customers can pay you via bitcoin.
It will also help you to increase the brand awareness of your business. If you accept Bitcoin payments, that means you are a good brand in the eyes of people, and your business will automatically get hype.