• About
  • FAQ
  • Landing Page
  • Buy JNews
Toraja Cyber News
  • Home
    • Home – Layout 1
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Toraja Cyber News
No Result
View All Result
Home Bitcoin

Why do merchants like Bitcoin ?

news by news
October 16, 2021
in Bitcoin
0
Why do merchants like Bitcoin
195
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

In Bitcoin, unlike a credit card, a payment CANNOT be reversed (“chargeback”). The “chargeback” generates an annual cost of 40 billion euros in fraud for businesses: anyone can make a payment and call their bank saying they have not done so.

In addition, Bitcoin‘s other advantage is that its implementation is free and has negligible transaction costs.

With this and more, many merchants offer a discount on the product’s price if a customer pays with Bitcoin.

We leave you the 6 advantages of Bitcoin to understand why businesses like it:

  1. Savings in transactions

They will decrease the expense in commissions. The commissions of a payment gateway range between 2 and 3% and include a minimum cost per transaction. This is triggered even more with Paypal, with figures like these: 3.4% + 0.5 euros per operation. Unlike this, with Bitcoin, the transaction costs are close to free regardless of the amount of money you spend.

  1. No fraud

A business no longer needs to add to the price of its products the extra cost caused by the many and variable credit card scams. In exchange for this, you can put a discount for payment with Bitcoin. Also, there is no way to counterfeit a bitcoin, unlike with cash.

  1. Higher conversion

In stores, the more payment platforms they offer, the more conversion possibilities they have. Therefore, if we include Bitcoin in its different forms of payment, conversions will increase.

  1. You will reduce the risk of theft

Another advantage of Bitcoin is that no person can access the money without your consent. Thus reducing the risk of theft. In addition, you will save expenses (since you do not need a box, no safe, or companies that transport your money to a bank), speed up payments, and improve the quality of work of the employees. They will not have to waste time counting money or be overwhelmed with tasks dedicated to management and maintenance.

  1. Marketing

That a store includes news is very well seen by the target audience. The more technologies and enhancements you provide, the more the customer will value that and the more they will visit you. Bitcoin makes a business make a difference.

  1. No human fault

There will be no errors when verifying payments, as it is done automatically and quickly.
The great popularity reached by cryptocurrencies in recent years has made many people more interested in learning about this new digital asset. And a recurring question among this growing number of new investors is the advantages of using cryptocurrencies? Or also, why are they so popular? This article will try to answer the first question and present some of the main advantages of using cryptocurrencies.

When cryptocurrencies were created, no one thought about the rapid and overwhelming growth that this new type of crypto active would experience. Neither the acceptance and the enormous expectation that it was going to generate in public. For many, the fever generated by the irruption of cryptocurrencies in the financial markets is comparable to the famous gold rush of the last century, but with the tools and digital technology. These cryptocurrencies are also born from mining.

Knowing what cryptocurrencies are, the risks and advantages involved in operating in the digital market are essential if you want to invest with the possibility of success in cryptocurrencies. Advantages such as decentralization, low costs, the confidentiality of operations and the speed with which transactions are executed are more than enough incentives for many entrepreneurs to be tempted to invest in crypto-assets and operate with cryptocurrencies instead of using money. Trust.
Subscribe for free to our Newsletter
And you will receive the economic and business news exclusively.

What are cryptocurrencies?

Before we can talk about the advantages of using cryptocurrencies in finance, we must start by understanding what these new assets are. We can safely say that cryptocurrencies are completely decentralized and intangible new means of payment. Cryptocurrencies are presented as an alternative to the use of traditional money or fiat money. It can fulfill the same functions as traditional money but is represented by virtual currencies using digital security encryption.

To operate with cryptocurrencies, we must forget the idea of ​​physical money. Since, as we have said, they do not materialize on paper or cards of traditional use. Cryptocurrencies are stored and protected in protected virtual wallets. They are created by what is known as the most advanced and secure digital technology: the blockchain n or blockchains. And these wallets can only be accessed through the use of a unique key held exclusively by the owner of the cryptocurrencies.

Why are cryptocurrencies created?

Cryptocurrencies are created to satisfy certain needs that have long been hitting the financial world. Bitcoin is the first and most popular of cryptocurrencies. It was launched on the market in 2009 by a developer known under the pseudonym, Satoshi Nakamoto. It was thought and designed to allow payment in electronic money directly from one person to another, without the need for a central authority to validate this transaction.

It also makes it possible to streamline the different banking operations by eliminating the existing bureaucracy that unnecessarily delayed the closing of many of the transactions due to its cumbersome procedures. In the same way, it was intended to reduce the costs and times of international transactions since the traditional banking method generated high costs (in some cases, they exceeded the amount of the transfer) and lengthy processes. In addition to a slow movement of money and delays in payments from suppliers and creditors.

What are the advantages of using cryptocurrencies?

Every day the use of cryptocurrencies becomes more widespread; let’s learn about the advantages they offer:

Decentralization

Most cryptocurrencies operate in a decentralized manner, depending on their algorithm. They are not subject to regulations or under the control of the government, banking or financial organizations of any kind, and all users of them have the same rights and are equal to each other. In fact, in networks like Bitcoin, not even developers can change the algorithm of their operation, which provides a greater sense of security to investors.

Low transaction costs

Transactions in cryptocurrency systems are carried out according to the P2P principle, without the participation of a central control body. That is, without any intermediary in your transactions. This allows reducing network maintenance costs which significantly reduces transfer costs. Unlike banking and electronic payment systems, users can independently set the commission size and even send transactions without it.

  • Trending
  • Comments
  • Latest
Paypal Co-Founder: Bitcoin Could Be a “Chinese Financial Weapon”

Paypal Co-Founder: Bitcoin Could Be a “Chinese Financial Weapon”

April 8, 2021
Mercado Libre will allow you to buy real estate with Bitcoin

Mercado Libre will allow you to buy real estate with Bitcoin

May 1, 2021
Ethereum miner will have 3 GH / s of hash

Ethereum miner will have 3 GH / s of hash

May 1, 2021
Xiaomi MIX 4 Review

Xiaomi MIX 4 Review

November 17, 2021
A ‘growth hacker’ uses cryptocurrencies to help homeless people

A ‘growth hacker’ uses cryptocurrencies to help homeless people

0
DeFi’s Total Locked Value Breaks New Record As BSC-Powered Protocols Totaled Billions

DeFi’s Total Locked Value Breaks New Record As BSC-Powered Protocols Totaled Billions

0
When will the ‘altcoin season’ happen? Now, says one analyst as Bitcoin’s dominance hits a 6-month low

When will the ‘altcoin season’ happen? Now, says one analyst as Bitcoin’s dominance hits a 6-month low

0
Institutional participation in cryptocurrencies reaches lowest levels since October

Institutional participation in cryptocurrencies reaches lowest levels since October

0
Is it possible to transfer gems from one brawl stars account to another?

Is it possible to transfer gems from one brawl stars account to another?

September 25, 2022
Samsung Galaxy Tab A7 Lite

Samsung Galaxy Tab A7 Lite

September 3, 2022
auriculares LG Tone

Auriculares LG Tone

September 3, 2022
Oukitel WP5000

Oukitel WP5000

September 3, 2022

Recent News

Is it possible to transfer gems from one brawl stars account to another?

Is it possible to transfer gems from one brawl stars account to another?

September 25, 2022
Samsung Galaxy Tab A7 Lite

Samsung Galaxy Tab A7 Lite

September 3, 2022

Categories

  • Bitcoin
  • Blockchain
  • Business
  • Ethereum
  • Guide
  • Market
  • Promotion
  • Regulation
  • Review
  • Ripple
  • Uncategorized
  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.