Being a business owner involves having to face your fears. Learning as much as I can about a phobia has proven to be one of the most effective strategies I've discovered to get over it. I then divide it into less daunting components that are simpler to comprehend, handle, and overcome.
That strategy also applies to any owner who is interested in blockchain technology and cryptocurrencies, as it appears that a lack of knowledge is the biggest obstacle preventing founders from experimenting with digital assets.
A study released last month found that 62% of participants were uneasy about investing in crypto assets because they lacked sufficient knowledge of digital currency. Only 33%, on the other hand, cited a lack of finances as the reason they did not invest in cryptocurrency.
It seems to make sense that one of the biggest obstacles to using e-money is a lack of understanding. But there are three simple ways you can introduce your company to the world of cryptocurrencies.
Give clients access to an ATM for cryptocurrencies.
Currently, there are more than 9,000 cryptocurrency Automated Teller Machines (ATM) in the United States, and most of them are positioned inside small-to-medium-sized businesses for the benefit of their clients. Here are some illustrations of the many categories of businesses that give their clients access to crypto ATMs.
Casual dining restaurants
Accommodations, such as Airbnb locations
Convenience stores and independent bodegas
Gas stations
Pizzerias
Grocery stores and supermarkets
Tobacco shops
Laundromats
Bars, pubs, and nightclubs
Professional services offices such as accountants, lawyers, etc.
Wine, beer, and liquor stores
Fitness centers and workout facilities
A simple method to differentiate your company from rivals and offer a special service to your clientele is to install a bitcoin ATM at your point of sale. You may even do your own market research to find out whether any rival companies or local firms provide e-money ATMs.
Utilize your PayPal profile.
With PayPal, more than 30 million merchants have small- to medium-sized business accounts. Online, in-person, or on-the-go, merchants can take payments from customers using their own accounts. Additionally, PayPal enables business owners to borrow money, automate bookkeeping, and create invoices.
Additionally, it enables you to quickly accept cryptocurrency payments from customers or to buy particular cryptocurrencies for your own use. You can start using PayPal with as little as $1, and it presently handles Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Get a crypto-credit card and a merchant account.
There are many different options for business credit cards, but one in particular sticks out to me from the others because it offers a variety of merchant services. Additionally, it allows creators to receive bitcoin rewards in the form of a portion of the total amount charged to the card.
I believe the merchant-specific Crypto.com credit card is the greatest payment option for business owners. You can simply manage vendor payments and submit invoices with just a few clicks using the Crypto.com dashboard. With your account, you pay no fees for any cryptocurrency payments and 80 percent discounted rates for fiat settlements. When compared to merchant costs for most credit cards, which range from 1.5 to 3.5 percent each transaction, that is a real advantage.
Additionally, using Crypto.com enables your clients to make payments using more than 30 different cryptocurrencies, such as Dogecoin, Bitcoin, Ethereum, and Crypto.com Coin (CRO). Finally, you can receive up to 10% back in the CRO token merely for paying your expenses when you pay vendors with your card.
However, some reviews of the Crypto.com mobile app complained about the program's slowness, poor customer service, and $100 minimum withdrawal requirement for any deposited e-currencies. Therefore, the Coinbase card or Gemini card are two reliable alternatives to think about.
With only 13% of Americans investing in programmable money over the previous 12 months, we're still in the early stages of adoption. Your clients are only now starting to arrive. It's simpler than you would think to have both you and your company ready for them.
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