Cryptocurrency As a Means Of Payment.
We live in a world that is fast developing at tremendous speed. Every second of the day is an opportunity for something new to evolve and just when you think that that’s it, more comes. In the earlier days of technology, people where amazed by the fact that we don’t have to go to the bank to pay our bills, that we can do that with just one click on the phone.As soon as people got used to it, a new phenomenon appeared and now we have to advance and understand the appearance of the new digital currency.Cryptocurrency represents a digital asset, whose main purpose is to be a medium of exchange, and while doing that, it uses the cryptography so that all transactions are secured. everything new that appears is controlled by its own system. It is possible to say that cryptocurrency is a subset of digital currencies.
Cryptography: is the process of converting no ordinary plain text into unintelligible text and vice-versa. It is a method of storing and transmitting data in a particular form so that only those for whom it is intended can read and process it.
this post, I will be discussing Bitcoin/Eth as a means of payment.
Just like the traditional money like dollar, Euro etc Bitcoin can be used to purchase any item of your choice online and even at a physical shops in some countries. Bitcoin is the new emerging payment options for businesses and this enable businesses to avoid the issues of middleman processing and transaction fees by accepting Bitcoin from customers around the world.
Bitcoin was the first cryptocurrency that emerged in 2009 and it is also the most popular cryptocurrency on the planet.
Benefits of Accepting Bitcoin As An Option Of Payment for Businesses
It will surprise you to know how cutting out middlemen like banks can positively influence your business.The following are some of the reasons to start accepting Bitcoin for your business.
- Zero Chargebacks: if as a business you accept credit cards as a payment option, then you know charge back cost or fee. "A chargeback is a charge that is returned to a payment card after a customer successfully disputes an item on their account transactions report". With the use of Bitcoin, chargeback cost is off the table. Each transaction on the blockchain is irreversible, so once you receive payment the money is all yours.
- Low To No Transaction Fees: the use of blockchain technology by Bitcoin makes transaction fees very low or nonexistent since governments and financial institutions are not getting their charges.
- The Acceptance Of Bitcoin May Lead To More Customers:
By accepting Bitcoin as a means of payment, you are catering to a huge portion of the population that wants to use digital currency to pay for goods and services. This is setting up your company for exponential growth in years to come.
How And Where To Buy Bitcoin
" Bitcoin is highly volatile and not a place to invest funds you can’t lose. While there are some stories of people making a fortune on Bitcoin in 2017, many people lost as it fell from its peak". Since the emergence of cryptocurrency, a lot of people have scammed of their hard earned money as a result of buying/selling of Bitcoin on the wrong site. Haven't said that, there are sites/Apps where one can successfully buying and selling Bitcoin, Ethereum etc with out the fear of being scammed.
- Luno is a mobile app/Site where you can buy and sell your Bitcoin without being scammed. On luno, you selling your Bitcoin and receive Fiat currency in your local bank account and also easily convert Fiat currency to Bitcoin on Luno as well. The good thing about luno is that you can buy as low as $1 worth of Bitcoin from your account and you will receive Bitcoin. To create your account on luno, visit http://bit.ly/2Kh0uzV then after the creation of the account, complete the verification process to be able to buy and sell on luno. You can use this invite code X2QWK
Now that you know how to buy and sell your Bitcoin, you need a secure wallet where you store your Bitcoin. Visit blockchain.com to create your account and after you have created the account, make sure you safeguard your wallet ID because if it gets into the wrong hands you could lose all your funds.
The Future Of Crypto Spending
Growth in the cryptocurrency world continues apace with the launch of a new debit card by blockchain framework provider, Ternio. And the Card is called Blockcard.
BlockCard is a physical debit card powered by Ternio. With BlockCard, card holders are empowered to spend their cryptocurrencies anywhere in the world where major credit cards are accepted. Blockcard is live in USA now which means people who live in USA can Start spending crypto in minutes! Signup, deposit crypto, and make purchases using the physical card. Ternio is working to ensure that people from other part of the world can also start using the physical card. You can store, spend and easily convert Fiat currency on Blockcard. Meanwhile, for those who live aside USA but want to use this Blockcard, once you register, your Virtual Card Account will be ready for instant use after you might have completed the KYC verification. With this Virtual account, anyone from anywhere in the world can spend, deposit crypto online why you wait for the release of the physical card to the remaining part of the world. With Blockcard there are no fees for transactions, exchanges or deposits. One flat monthly rate and for most users, that fee is waived when you spend $750 monthly using BlockCard/Virtual account. To join and for more info visit http://bit.ly/33LSqyH
