Finance Blog

Some Fantastic Benefits Of Using Bitcoin For Business Transactions

The business world is now not the same as it was 25 years ago. Gone are the days of just dealing with local customers and with the introduction of the Internet and its growth since that point. Businesses can now negotiate with customers from all over the world. The marketplace is huge and it’s getting bigger every year. However, in Australia, we have the Aussie dollar and while that currency is acceptable here in Australia, it isn’t widely accepted across the world. Businesses want paid in their local currency or the American dollar and so you have to go through all the hassle of changing money through banks or other financial institutions.

There are alternatives, however, and it comes in the form of Bitcoin and this method of payment is taking the business world by storm with 80,000 businesses already using this easy method of accepted payment. If your business is not already involved in it, then there are Bitcoin dealers all across Australia who can get you involved in quick time. As mentioned previously, there is no conversion needed from local currency to another currency as it is accepted in its current state. It makes business so much easier and it comes with many more benefits. Let’s have a look at just some of them.

  • With normal currency, there is always the risk of inflation, but with Bitcoin, you don’t have these worries. As you know, inflation occurs when governments like the US government, print more money over the business year. This extra cash coming into the market decreases people’s purchasing power. Bitcoin is different as there is no set amount of how much can be generated and so excess currency is not a worry. Inflation therefore is negligible and this is ideal for the buyers and the sellers throughout the world.

  • Banks and other financial institutions charge transaction fees for the transfer of money and this can really eat into your profit margins. Sometimes, you have to pay your end and then again when it arrives at its destination. With Bitcoin, the costs are much lower than, for example, payment with a debit or credit card and this makes this currency perfect for smaller businesses that need to save money.

  • The wonderful thing is that a Bitcoin transaction doesn’t involve any third parties. It is a simple transaction from peer to peer and there are no taxes due on your coin and governments cannot seize your currency. Payments with Bitcoin are instant, with the Bitcoin payment it is instant When you compare this to 1 week or more when paying through a bank, this is a significant time saver.

With Bitcoin, you get convenience and speed and this is something that you need if you want to survive in today’s fast-moving business world. If you know nothing about Bitcoin, educate yourself today and get involved in a currency, that is going through very exciting times.

 

 

 

 

 

 

Comments are closed.