For a lot of people, they find it hard to accept cryptocurrency. This is due to the fact that it doesn’t feel like ‘real’ money. We’re here today to explain why small businesses should in fact accept cryptocurrency.
What we mean by this is, that it will give your business the cutting edge and bring in new customers as it isn’t the ‘normal’ way to pay. It also allows crypto investors a new way to spend their earnings. More than one-fifth (21%) of holders made an in-store purchase using crypto. As well as this, nearly one-third of consumers who hold or have held crypto in the last year said they would switch merchants if it meant they could pay with the digital assets.
Allowing payments with cryptocurrency will let anybody buy a product, whichever country they’re from or wherever they are in the world, as long as they have an internet connection. This will allow customers who don’t have cash or don’t have access to a bank direct, the opportunity to buy your products!
Transactions made through cryptocurrency are permanent and cannot be removed or modified. This helps to stop scammers and will protect your business. Depending on the payment processors you’d like to choose for your business, they may offer additional security measures like KYC/AML or blockchain monitoring services. This is another layer of trust for customers and your business itself.
The demand from customers is higher than ever, so keep up with the times and advance your business to compete with the best. We hope some of these bullet points have directed you in the right direction and hopefully will have played a big part in your end decision.
If you want to explore helping your business compete with competitors and reach its maximum potential then additional payment methods are a great way to reach a wider audience. Get in touch and speak to our experts today!