How to Use Bitcoins in Your Business?
For almost 10 years, Bitcoin has been used in the world and more and more people get less scared about digital currency. We can see the increasing number of small enterprises that start to accept Bitcoins as a payment method.
When you accept the first and best digital currency in your business, you declare that you are open to new technologies, attract new clients and even prevent certain types of fraud. In this article, we will provide you a short description of how to implement a new payment method into your business and keep up with modern technologies.
Create a Bitcoin wallet
The easiest way for your customers to pay with Bitcoin is to send digital money directly to your Bitcoin wallet. What you need to do is to set up your Bitcoin wallet. There is a great number of exchanges offering wallet services and separate independent platforms of wallets.
You choose one of them to register and get your wallet address. That one is actually your open and closed key. It is necessary for signing of transactions and should be kept in secret. When you want to cash out your Bitcoin, you should tie your bank account or credit card to the Bitcoin wallet.
Provide a QR-code of your wallet
Today’s generation is used to simplicity in all spheres of life. Living in the rapid tempo, users rush for the easiest clicks and simplest decisions. What you can is to provide your clients with a QR-code of your wallet.
Their task is to scan it, insert the necessary number and sign their closed key. It’s important to check up the current exchange rate of Bitcoins as it is changing all the time.
Be sure that you get the right amount of digital coins. In addition, you can create a short guide of how to send money to your wallet. It will be useful for clients who are new with Bitcoin.
Applications for Bitcoin wallets
The developers of various applications are not wasting their time and keep on creating new programs for Bitcoin wallets. They work the same way as direct transactions with online wallets.
You need to tie your Bitcoin address to the application, insert the necessary amount in fiat and the application will generate a QR-code that contains address and amount of Bitcoins to be sent.
The client has to scan a QR-code with the help of your mobile Bitcoin wallet and sign the transaction. Most of smartphones and tablets can use such applications.
Bitcoin gift cards
Bitcoin gift cards is another way to use Bitcoins as a payment for your services. Certainly, Bitcoin has not covered the whole world yet, but clients can easily buy Bitcoin girt cards for further usage. You can sell such cards on certain platforms that accept Bitcoins.
There are separate platforms that represent themselves as crypto exchanges for gift cards. Using them, the owner of the card can buy and sell from a great number of retail shops like Amazon, Ebay, Apple, Home Depot and others.
Check up if Bitcoin is allowed in your country
Bitcoin is legal in certain countries; others either don’t regulate Bitcoins or forbid its usage completely. However, laws are constantly changing and rules for the crypto existence are used differently. If you are accepting Bitcoin as a payment method, make sure that you won’t get into trouble afterwards.
You should consult a legal advisor before you make up such a decision. For the current moment, Bitcoin and other cryptocurrencies are completely forbidden in Kyrgyzstan, Vietnam, Bangladesh, Bolivia, and Ecuador.
What concerns China and Russia, there have not been definite regulations made yet. You should analyze all the information up to date. Actually, it concerns the whole crypto world