DeutschIt is becoming more and more socially acceptable – despite negative reports – Bitcoin. The leading digital currency continues its adoption. This often involves using BTC as an investment or speculation object. The characteristics that distinguish Bitcoin are very obvious. It offers…
- …decentralized structures to make intermediaries such as banks superfluous
- …a high level of security against forgery due to the blockchain basis
- …and globally restricted transactions at any time of day or night
These properties can also be an advantage in the business sector if companies accept Bitcoin and do business with it.
Companies should also Rely on (Even more) Bitcoin
However, if the system is to become permanently and comprehensively established, it needs further acceptance and use on the corporate side in addition to the large number of private Bitcoin users. Below are a few reasons why companies should also accept Bitcoin:
- Time: Payment processing is very fast. It does not take, as usual, several working days until the money is credited to the wallet (the digital wallet). Especially with larger amounts, it is always annoying when there are waiting times (and chargebacks are excluded). In addition, the cash flow is higher and gives the company more flexibility and security. With the further expansion of the system around the Lightning Network, payments are processed within a few seconds.
- Costs: The Bitcoin system is based on the fact that the transaction is processed between two parties (e.g. buyer and seller). The system does not need third parties, such as banks. In addition to time, these are often also cost drivers (with a processing rate of several percent). Also, because everything is processed digitally, the costs for individual transactions are significantly lower. Companies can save a lot of money on the cost side.
- Security for customers and data use: In times of transparent customers, data theft and data scandals, consumers have become more sensitive in dealing with data and disclosing it to companies and banks. Cryptocurrencies help with these projects. Since less financial data is needed for a transaction, this data cannot be stolen.
- Image and clientele: In the current phase, companies that accept Bitcoin are still something special. In a few years it will be standard. This fact will have a positive impact on the company’s image. In addition, new customers can be won with the service around Bitcoin acceptance, as there is a growing group of people worldwide who want to hold and use Bitcoin.
So you can see that it can be worthwhile for companies to accept and use Bitcoin.
