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Can Small Businesses Benefit from Cryptocurrencies Today and beyond?

Can Small Businesses Benefit from Cryptocurrencies Today and beyond? small-scale business owner who’s on a quest to solve the mystery of cryptocurrencies.

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Can Small Businesses Benefit from Cryptocurrencies Today and beyond

Isn’t it hard to imagine the world without all things digital? Over the last 20 years, the pervasiveness and ubiquity of digital technologies have grown exponentially, and it remains to do so even as we write.

Undoubtedly, digital technologies such as the Internet, PC, TV, smartphones, and various other handy gadgets are becoming extensively intertwined in our daily lives.

Whether its education, entertainment, social interactions, healthcare, or financial management, every aspect of global societies is becoming digitally-dependent.

Since the developments in digital technologies are ever-growing and take place at the speed of light, we are now and then exposed to new and improved digital innovations that transform our lives profoundly.

Small Businesses Benefit from Cryptocurrencies Today or Beyound

Apart from filling our lives with unlimited entertainment such as Spectrum 4K and giving us numerous online platforms to connect to the world, digitalization has also facilitated the exchange of value.

This means that strong digital links between people allow them to buy and sell goods and services to each other and make commercial transactions.

Digital platforms have boomed connectivity and revolutionized businesses and trade to a great extent.

From enabling us to receive and transfer money virtually via online banking to the evolution of cryptocurrency that is the talk-of-town these days, assets can now be built and traded entirely digitally.

But wait for another, what exactly is a “cryptocurrency”? Is it related to some underworld banking system? Is it something shady? How can I use it? Does it even exist?!

If you are an entrepreneur or a small-scale business owner who’s on a quest to solve the mystery of cryptocurrencies, then stick with us till the end to get all the answers!

1. What is Cryptocurrency? – A Definition for Dummies

In simple words, a cryptocurrency is a virtual currency that is a hybrid of money and digital assets. That determines that it can be used to pay for goods and services, and you can also invest in it to generate long-term profits. Some real-life examples of cryptocurrency include Bitcoin and Ethereum.

Before we go every further, let us give you a quick insight into cryptocurrencies.

2. How Cryptocurrency Works?

Cryptocurrencies are an utterly internet-driven medium of exchange that is powered by blockchain technology and cryptographic protocols that ensure that all transactions are decentralized, secure, transparent, and unaltered.

The distinguishing feature of cryptocurrencies is that they are not controlled or regulated by any central authority such as the state bank or government.

Two parties can directly send and receive cryptocurrency by using public and private keys.
The transactions are processed swiftly by paying just a minimal fee that is nothing as compared to the hefty processing charges that are imposed by the traditional financial systems.

Now that we are pretty clear on the fact that cryptocurrencies do exist and what they are, without further ado, let’s shed some light on how small businesses can benefit from cryptocurrency in today’s high-tech age.

3. The Benefits of Cryptocurrency for your Small-scale Business

A handful of businesses have started accepting online payments via Apple Pay or Paypal.

However, with over 5000 cryptocurrencies existing across 20,000+ markets, the option to use them as a payment option has emerged over the horizon.

The reason behind this could be that in 2019 there were over 44 million cryptocurrency users, and the many are expected to increase further.

Here are some ways small businesses can leverage from cryptocurrencies.

4. Attract New Customers and Increase Brand Visibility

Cash, credit cards, and bank transfers –the most commonly used payment options by businesses around the world.

Due to the general availability and usage of high-speed internets such as that provided by Wave internet service, smartphones, and e-shopping platforms, the number of digital shoppers in the US has skyrocketed to 227.5 million in 2020.

Since small businesses face various market-penetration challenges, adding cryptocurrency such as the Bitcoin as one of the payment methods can help them widen their customer base.

Imagine the number of customers and sales you will attract by targeting the 2.3 million users who make payments via Bitcoin! Massive, isn’t it?

5. Cost-Effectiveness

Being a small business, incurring various operating expenses such as rent, bills, inventory, licenses and taxes, marketing budgets, and much more, can be stressful.

Cryptocurrency transactions are borderless and timely, which means that payments can be sent and received in real-time irrespective of their geo-location.

The promptness of cryptocurrency transactions can give peace of mind to small enterprises as they won’t have to dread late payments and to pile up unpaid invoices.

Digital currency transactions involve no paperwork and have minimal to none processing fees. This can benefit small businesses by saving their time, energy, and money as compared to using traditional payment methods.

6. Safer and Sounder Transactions

As we all know that the cyber-world isn’t free of thieves! Credit card payments are backed with an elaborate transaction history that can be leveraged by hackers for malicious gains that can put you and customers at a loss.

When it comes to secure payments, cryptocurrency is a game-changer for small businesses that are in a weak position and cannot afford chargebacks and frauds.

Cryptocurrency transactions are backed by a foolproof blockchain technology that ensures that all money transfers are final and irreversible, i.e., they cannot bounce-back or get canceled.

Moreover, since transactions cannot be annulled or overridden, the payments made by the customers using cryptocurrencies are straightaway added to the blockchain digital ledger via a process called “mining.”

Another best part about cryptocurrencies is that they don’t offer debt or loans. This means that a person cannot spend more than they have, which in turn helps in keeping chargebacks and unwelcome financial constraints at bay.

This top-notch reliability and security of payments that come with the use of cryptocurrency give small businesses a more clear-cut and more straightforward mode of payment as compared to the traditional banking system.

7. Boost Sales with Worldwide Outreach

Cryptocurrencies have a massive potential to become a global currency in the coming future as the system is growing more and more digitalized with passing the time.

A handful of countries, including the UK, Singapore, Japan, Germany, and many more, have legalized cryptocurrencies.

The decentralized nature of this epic digital mode of transactions can allow your business to target a more significant customer base globally without facing any cashflow issues or geographical obstacles.

Introducing cryptocurrency as a payment option will let you sell your products to international buyers smoothly and help you generate higher profits by accessing new global markets.

Cryptocurrency ensures smooth cashflow by removing traditional banking obstacles such as incurring high international transaction costs, worrying about exchange rates, and long global scale-waiting time as payments are instant.

9. Is Cryptocurrency a Good Option for Small Businesses?

While cryptocurrency can be a huge cost saver for small enterprises with smaller margins, they should be prepared to pivot around timely changes that might come around soon.

Since more countries are standardizing crypto-transactions due to unforeseen market events such as the COVID-19 pandemic, this might impact the regulatory landscape of the cryptocurrencies in the future as laws and taxes might get imposed on them.

Moreover, as there is no such thing as water-tight security in the cyber-world as hackers keep getting more robust, the fact that cryptocurrencies and digital wallets are not insured might put yours at risk of loss.

Additionally, if you are a small-scale entrepreneur or business willing to accept crypto-payments, then getting yourself familiar with the digital wallet software might take some time or extra effort if you’re not tech-savvy.

10. The Final Word

Despite having a few barriers that can be easily mitigated with keeping an open eye and mind, cryptocurrency can be quite potent for your small business.

If you learn to overcome the few crypto-obstacles were coming your way, and once you obtain that hang of it, blank can stop you from taking your small-enterprise to the next level if you manage to hit the nail in the head!

Baldwin Jackson is an active writer and digital marketing consultant involved in taking businesses a notch higher. Since I am a part of the digital marketing enterprise for over six years,

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What are Stablecoins? Are they a better investment than Bitcoin?

Stablecoins are already being used in countries where national currencies are unstable. As such, stablecoins are seeing wide usage in mainstream commerce

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Stable coins are the type of cryptocurrency

Stable coins are the type of cryptocurrency which attributes their value to a tangible asset. The main types of stable coins include fiat collateralized, crypto collateralized, non-collateralized, and commodity collateralized. This year, gaining significant traction is gold-backed stablecoins, which can be purchased on a gold-backed cryptocurrency exchange like Gold Exchange.

This backing stabilizes the price, making it less volatile than other cryptocurrencies. That said, cryptocurrencies like bitcoin and Ethereum offer investors a host of benefits. Among these benefits is not needing a trusted intermediary to institute and send payments, making trades available to anyone worldwide.

1. Investing in stablecoins

Stablecoins are already being used in countries where national currencies are unstable. As such, stablecoins are seeing wide usage in mainstream commerce and, more specifically, in overseas payments to avoid fiat to fiat conversions. Furthermore, stablecoins have also been seen as an effective method for transferring money back to families in foreign countries. Being used as a means of trade, can stablecoins be used for more? Say, an investment vehicle?

Consider that the coin is only as strong as the asset that backs it. Therefore, assets tied to the U.S. dollar are said to decline over time since the U.S. dollar itself is not a good investment. It is less volatile than cryptocurrencies and other fiat currencies, but that doesn’t necessarily make it a good investment.

Cryptocurrencies are intended to be decentralized, so many of these benefits are lost when pegging it to a centralized asset. That said, for investors looking to invest in stablecoins, it is advisable to take the same steps as when you would investigate any other financial investment to ensure that the company is reputable and consider the centralized asset’s health.

Bitcoin Cryptocurrency

Since gold and other precious metals are already good investments, the gold-backed stablecoins issued from a reputable company will provide investors with a safe investment opportunity.

Furthermore, stablecoins can be a good investment since they are liquid assets. This is because stablecoins can be converted quickly and easily to the underlying fiat currency than Bitcoin transactions which may be slow to complete. Furthermore, these investments are generally lower risk and can help investors achieve their diversified portfolio.

Another main factor that has influenced the growth of stablecoins is the increase in venture capital money. Many opportunities exist for new business models to emerge in the stablecoin market providing new ways for venture capitalists and regular investors.

2. Investing in bitcoin

In comparison, buying bitcoin is a much more speculative investment. The price of the asset can rise or drop at any time. Bitcoin also exists outside government regulation, even compared to a stablecoin that is typically backed by government-secured support. That said, bitcoin isn’t hard to buy or sell and has utility when making purchases.

Furthermore, the adoption of bitcoin around the world is also accelerating. Bitcoin originally came into circulation out of the financial crisis in 2009 due to bank failures and government bailouts. With new uncertainty entering the economic landscape, many continue to turn to bitcoin, the original cryptocurrency, as a haven. As a result, businesses and consumers that have never invested in bitcoin before are now looking at opportunities to purchase it.

Therefore, having some bitcoin is considered worthwhile if it is classified as a high-risk, high-reward asset accompanied by other more stable assets.

3. Stablecoins vs bitcoin

Many new cryptocurrency investors look to bitcoin as their first introduction to cryptocurrency investments. However, this isn’t the only cryptocurrency investment that can prove to be a good investment. Stablecoins offer many benefits when compared to bitcoin, although it isn’t necessarily a better investment.

Instead, it depends on the investor’s intentions and risk appetite. Stablecoins are stable and will hold their value relatively well over time. Bitcoin is volatile, but that is advantageous for investors who want to take advantage of these trading swings.

Therefore, a combination of both assets will prove to be the best long-term strategy for investors.

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Become a good CFD trader using bitcoins

Become a good CFD trader using bitcoins. What is bitcoin online trading, And When did online bitcoin trading develop as a new alternative

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Become a good CFD trader using bitcoins

As the world is slowly progressing towards all technologically updated niches, we see massive progress in how commerce and finance are dealt with. Online trading is now the new way to buy, sell or invest in assets. Business people and economists are becoming gradually acquainted with the new kind of changes happening.

Also, with the growth of cryptocurrency, changes in modes of value exchange are taking place. Online trading has reached a great height in the past few years. Let us see how cryptocurrency, online trading, and other online exchanges have changed the economy.

1. What is bitcoin online trading?

What is bitcoin online trading

General Trading has existed for hundreds of years; it has long been the primary trading data between various or more individuals. However, as time has progressed, this word has developed into a globalized definition with many divisions that you can research before exchanging any commodity.

Bitcoin Trading can be very interesting. You’ve likely heard about it on the internet, or It was called to your notice by some colleagues. You found it while searching the internet. Online trading is a thrilling world with thousands of possibilities to be explored, regardless of the cause!

Before we get into the new trading sites and how you can use them to your advantage, we think you must have a clear understanding of how online trading works. This piece of knowledge will show you how trading has changed over the years and how it will continue to evolve in the future.

2. When did online bitcoin trading develop as a new alternative?

The NASD established the first electronic stock exchange in the world in 1972 when they programmed software. On the other hand, the NASDAQ did not perform in the same manner as exchange platforms do today. Back then, the platform needed human broker feedback to get underway, and executing a single trade could take up to seven days.

When it first launched, NASDAQ mostly focused on floor dealing, which involved individuals congregating in a standard room and yelling bids.

How can one quickly trade bitcoins via the bitcoin trading software?

www.thenewsspy.technology websites can be used to easily fulfil their trade dealings and invest in cryptocurrency and bitcoins. Using trading websites, there are many assets that one can trade. They are-

a. Contracts for Difference-

When the deal between the broker and user expires, both sides exchange the discrepancy between the opening and closing rates of a particular financial instrument. Trading means speculating about how high or low the price of a given financial instrument will increase or fall in the future.

b. Cryptocurrencies or bitcoins-

This is a comparatively new addition to the industry. Cryptocurrencies are cryptographic objects that do not have a physical shape that can be accessed freely from anywhere, globally. To exchange cryptos, you must forecast how much a given cryptocurrency would cost in the future and then put a buy/sell order based on that prediction.

Since there are so many different cryptocurrencies to pick from, it can be challenging to determine which one to exchange at first. If you’re just getting started, the more common ones, such as Bitcoin, Ethereum, Ripple, and Litecoin, are an excellent place to start.

c. Material commodities-

Agrarian commodities, mineral commodities, oil commodities, and several other commodities are exchanged in commodity markets. Gold, oil, and other agricultural products are often traded here. This exchange style, which focuses on the primary economic market, has been around for many years.

How can one use the bitcoin trader app to invest in CFDs, commodities, and the likes?

Bitcoin trading was built by a massive community of devoted traders and developers, so you can be confident that it provides all of the knowledge you need to get started trading more effectively.

To use the trading apps, you must first enter your trading conditions, including your access roads, the type of commodity you’re trading, and your overall game plan. Once you’ve done so, the apps will continue to search for profitable trades that fit your requirements.

Therefore, using the bitcoin trader software’s will help you with all your investments!

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