Many peoples in developed country have adopt cryptocurrency as their method of payment because it will help them to grow their business. This will also assist us not to move around with cash once you have your crypto wallet you are good to go.
Another things is that it does not give room for fraud because you know your password by yourself nobody else and this will make your transaction to move on smoothly.
El savador is the first country that accept bitcoin as a means of legal tender to promote their economy because they know the value of bitcoin and how it work. If we accept cryptocurrency as a method of payment in Nigeria we will free from unnecessary charges from commercial bank particularly if we want to do online transaction with buyer or seller
Cryptocurrency is the future of digital money, once the business owner create awareness and also inform different peoples or customers that he accept cryptocurrency as a means of payment and many customer already know of this they will not hesitate to patronise you and this will also boost your business.
It's very easy to use than all others online transaction, when the business owner send his or her wallet address to you, then you can proceed to make payment after that you will received your goods as easy as that.
This will create competitive market when others business owner see that you have become successful in this business.
What are the risks of accepting cryptocurrency as a business owner?
In every business we venture to we must expect risk, I don't think their is risk in doing transaction using cryptocurrency as a method of payment it very easy to use because it does not involve third party. Even if you want to some shop owner who accept crypto for their payment and you have already make payment, at the end of the day you don't like things you buy they can refund your money manually or transfer your coins into your wallet.
With respect to fees, this is generally true. Merchant processors will typically charge a 1% transaction fee, compared to credit card transaction fees of about 2.5%. With this, are you considering taking the plunge into accepting crypto payments?
Yes, I will keep on accepting crypto as a means of payment, the charges is very low compare to credit card transaction fees. As we can see by our self many peoples will go for low charges fees and they will also want to do transaction with you.
If I own big business now I will accept cryptocurrency as the method of payment and I know many customers who have crypto in their wallet will come to do business with me.
If you were to start accepting cryptocurrencies today, what are the five cryptocurrencies that you would accept?
source
The five cryptocurrency I will accept to run my business smoothly include the followings:
• Bitcoin
• Steem
• Bond
• Trx
• Nano (Xno)
Highlight the key difference between crypto payments and credit card payments
Cryptocurrency payment is very easy and secure than credit card because it does not involve intermediary or third party that why it safe than credit card. Another things is that it is very difficult to steal identity of the owner, cryptocurrency also charges low fees unlike credit card that charges a very high fees which affect many user to transact through that.
In conclusion, cryptocurrency Have already own the digital money, Government of everyone country should start use this method so that it will help them promote and improve the economy of our dear country. I invite @tiyum08, @rossnenye and @ebeke to join me in this wonderful contest.
Thanks you all for reading through my article
Written by
@Akareen
