• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Clever Dude Personal Finance & Money

Clever Dude Personal Finance & Money

Family, Marriage, Finances & Life

  • Toolkit
  • Contact
  • Lunch
  • Ways to Save Money

Finances & Money

Benefits of using Bitcoin as a mode of payment in Business

November 27, 2019
By Susan Paige
- Leave a Comment

Bitcoin has taken the world by storm. Ever since it’s launch a decade ago in 2009. Both it’s value and craze has increased by leaps and bounds. 

It is not a strange obsession though as who does not want to become rich. Bitcoin though not the easiest way, but is the most amazing and fastest way if you are skilled enough in forecasting the value of Bitcoin in the future.

The best part is that if you have Bitcoin, then there is no need to carry around your wallet with debit and credit cards in it. This digital currency Bitcoin has made the work so much easier for you. Bitcoin is a great alternative to the traditional paper currency and also can be said to be a big threat to it. 

It should not be a matter of surprise if in near future Bitcoin emergences as the most powerful currency and replaces the paper currency.

Interested in knowing everything about Bitcoin? Want to trade Bitcoin? Visit btrade signal login and start earning today!

Let’s discuss a bit about Bitcoin first!

So, let’s start by explaining how Bitcoin payments are made! So, a bunch of private and safe computers that process on a shared program that works on processing the Bitcoin payments. Every payment of Bitcoin transactions will be recorded in the blockchain computers in this network. Every detail regarding the transaction will be recorded with the help of Bitcoin.

Apart from that, I would like to inform you that not only Bitcoins can be purchased with the help of fiat currencies but if you do not want to use the money to purchase Bitcoin you can mine for Bitcoins using mathematical algorithms. You can purchase Bitcoin wallets and store your coins there.

There are so many advantages of using Bitcoins in business. Let me list some of them for you.

 

  • Less risk for buyers

 

 Transaction is easily completed by the buyers without the need to reveal their identity. So, this is beneficial for traders who feel that their details and personal information are not safe while doing online transactions. So. It will not be wrong to say that there is a level of privacy that is being enjoyed by the users of Bitcoins unlike the debit and credit card users, because it is digital cash and so the hackers will not be able to interpret the details of account so easily.

  •  Lesser transaction fees

The fee for any transaction for the Bitcoin users is so much less compared to the debit and credit cardholders. You will be amazed to know that it is very less compared to debit and credit card transactions. What makes the transaction fee is so less is the fact that there is no third-party intermediary like banks in case of traditional paper currencies, who charge a bomb for international transactions.

  •       Transactions cannot be charged back!

The transactions can be reversed and charged back when they are made through debit and credit cards. Most of the vendors are aware of this fact and nothing hurts more when the order is dispatched and sender charges back in payments. So, it is finally good news for the vendors that Bitcoin payment is irreversible and it cannot be charged back once the payment is made.

  • No taxes on purchases.

The best part is that vendors will not have to face any taxes not matter how much business they are doing through Bitcoins. The transactions and the details of the person who is doing the transactions remain hidden.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Sign up for Clever Dude’s newsletter

Best of Clever Dude

  • Our Journey to Debt Freedom
  • Ways to Save Money Series
  • Examine Your Motives Series
  • Frugal Lunch by Clever Dudette
  • An Illustrated Frugal Lunch
  • I'm Tired of Buying and Spending
  • 50 Tips for New PF Bloggers
  • Other Personal Finance Blogs

Recent Clever Dude Posts

Crucial Tips for Credit Card Consolidation

How to Control Indoor Humidity

How to make your money last in retirement

How to Sell Mortgage Notes for Money

5 reasons why owning a house is rewarding

Footer

Links From Our Partners

Get help with dissertation from PhD holders.
Choose the best thesis writing services.
Assignment help service is the best solution for all your academic needs

Copyright © 2006 - 2019 District Media, LLC. All Rights Reserved. Privacy Policy
Disclaimer: The Ads expressed herein are exclusively those of the Advertiser. They do not necessarily reflect our personal or professional beliefs.