Last updated on January 2nd, 2018 at 12:00 am
As you already know, especially if you’re a merchant, accepting Bitcoins as a form of payment for your products or services can offer a lot of advantages and attract more customers.
For that reason, several businesses, online and physical, recently started accepting cryptocurrency: it’s simple, they see the possibilities and want to take a bite of this tasty Bitcoin pie. That’s also why there have been several recent investments in Bitcoin companies like CoinBase or BitPay. And what about you? Are you thinking of upgrading your business as well? Why don’t you start accepting Bitcoin? The process is really easy, like we’re about to show you.
First of all, you have to answer some questions to determine essential parameters of your business: do you really understand the basic information about Bitcoin; can your business attract Bitcoin users; how easy will it be to integrate cryptocurrency with your current payment options; how will you transfer Bitcoins into fiat currency (like US dollars); do you see Bitcoins as an investment; and are you aware that Bitcoin’s value can fluctuate?
After answering these questions and weighting the pros and cons, it’s time to actually move to the second phase: choose a way to accept Bitcoin payments. If you’re providing services, for instance, you can create a wallet and an address to receive digital coins through an available software. Or you can register your business at BitPay to make the whole payment processing easier.
Done? Go on to the third and last step: make everybody know you accept Bitcoin. Add a “Bitcoin accepted here” sign to your website (you can get it for free at Bitcoin Wiki) and share a post with the news. Another way to promote your new payment option is to promote the news through the Bitcoin Wiki trade listings. It only costs 0.01 BTC! And there you go, totally ready to accept digital coin.
It’s a pretty straightforward process, as you can see. It just requires some time to learn a bit about Bitcoin, choose the best software for your business and also the best way to promote your choice.