Pay with Bitcoin

Pay with Bitcoin

Alternative shopping using digital Bitcoin Currency
Erin Thompson Erin Thompson

If you have an online business, or you intend to take your current business online so you can sell your products and services to more potential consumers, then you must know about Bitcoin. Currently the most popular among all decentralized virtual currencies, in 2013, it was recorded that there was over $1.5 billion dollars’ worth of Bitcoins that was in circulation and there were millions more exchanged on a daily basis. It is important for you to realize that in order for you to maximize possible purchases made by your customers, having secured online transactions in the form of Bitcoins would be beneficial for your business.

Fast payments and easy purchases through mobile payments are possible through Bitcoin transactions. Though it is a fairly new crypto currency made available to anyone who wishes to use it, it has been trusted by many for long enough to prove its legitimacy. It is good to note as well that most individuals who choose to use Bitcoins for secure online transactions are avid internet users and would most likely be making purchases online. If you want to expand your business by allowing more consumers access to making mobile payments for your products and/or services, then you must have a marketplace or auction software that supports Bitcoin payment.

There are many advantages of using Bitcoin for secure online transactions which is exactly the reason why thousands of individuals from all over the world transact using it on a daily basis. Here are some of those advantages:

  1. Just the same as many online entities such as emails, no one owns the Bitcoin technology. Because of this, it remains neutral, transparent and predictable. It can be manipulated by no one, and you can always be rest assured of secure online transactions because it is secure cryptographically.

  2. Potential consumers will trust you more if you have a Bitcoin payment option because users will have full control over their mobile payments or online transactions. A merchant will not be able to add hidden charges or surprise fees as compared to what can be done if payments are made through other methods.

  3. Fraudulent activities can be prevented and lower administrative expenses if payments are made via Bitcoin. This gives you more security and fewer risks as an online seller.

  4. Bitcoin allows its users to choose their own fees. Transaction fees are not dependent on the amount being spent; rather the time until a transaction is confirmed. This could only mean that you can essentially make a payment of 50,000 Bitcoins with the same transaction fee as when you’d make a payment of 5 Bitcoins.

  5. Finally, there are fewer limitations with Bitcoins as compared to other payment methods. One can make fast payments anytime, anywhere as there are no borders, bureaucracy and no bank holidays as well.