How could Bitcoin revolutionize your business and international trade?
Yes, you heard that correctly! Bitcoin is an exchange medium with which you can trade internationally that isn’t exactly new; but growing in functionality and popularity. While Bitcoin is inclusive, and Open to anyone from any corner of the globe - there are some regulations that do come first. Many people around the world are eager to get their hands on Bitcoin to hold, and trade. There are so many people who have become millionaires from trading Bitcoin, and that number grows daily. With that high chance of success, there are of course, some who have lost massively while trading. There are ways to increase with little risk; but the benefit of Bitcoin is the high risk and high reward. Bitcoin isn’t just a digital stock market; it’s a clean, and cheap medium of International exchange for individuals, and companies alike. With international cryptocurrency transfers, you can send Bitcoins or other digital currencies directly to a recipient's wallet via a peer-to-peer cryptocurrency exchange. Once it reaches their wallet, the recipient can hold the cryptocurrency or cash it out into any currency for a fraction of services like moneygram, and PayPal.
Bitcoin Revolution is a platform where you have the ability to purchase Bitcoin. BR, and applications like it assist individuals to purchase this digital currency using fiat money. Once purchasing Bitcoins, users can transfer them to crypto wallets, once done so, users are able to use them to purchase any sorts of items and services. However, not all businesses accept Bitcoin currency. At the time of this article’s publishing, “Approximately 15,174 businesses worldwide accept Bitcoin, with around 2,300 of those businesses operating in the US. There are 36,659 Bitcoin ATMs available in the U.S., as of April 2022. As of 2020, 28% of American small businesses accept cryptocurrency as payment” according to Zippa.
You don’t need a lot to become a part of the crypto market. You could start by backing your business to accept payment in the form of cryptocurrency. This won’t just allow you to accumulate Bitcoin and other firms of digital currency, but it will minimize fees and barriers previously keeping international clients and vendors from buying from, and working with you’re compliant. Without needing to gamble any money, you will gain access to a new demographic. One that may teach you how to navigate the crypto
How Does Bitcoin Benefit International Trade?
Unlike the paper currency we are accustomed to - Bitcoin is the first global digital currency. With other forms of currency managed by individual countries - in order for them to be usable abroad; there is a process of conversion and usually some associated cost to convert the currency. With Bitcoin, you are able to trade with the same currency all around the world, no matter where you are. Dealing with the transfer of currency is one of the biggest challenges new and experienced travelers face when visiting, and emigrating to other countries. On the Forex market, currencies are valued at different rates that fluctuate constantly. This poses difficulty for those doing frequent transactions in foreign currencies, or paying foreign contractors the value of the funds they send are constantly changing; and is typically only navigated well by professionals in the Forex space. Bitcoin allows businesses operating anywhere in the world to make seamless transactions of the same value across borders, Eliminating the issues present in most international financial transactions.
In addition to creating an easy way of transferring money, it comes at a minor fraction of the cost of traditional international transfers; usually based on a set percentage of the overall transfer. In traditional forex there are usually associated limits on the amount of currency that can be transferred in a single transaction. Bitcoin and other digital currencies enable the transfer of funds for the equivalent of several cents, for any transactions. In addition to the ease of transactions, digital currency transactions are totally private, and have higher, or. non-existent limits, and lose no value upon transfer.
The last; and potentially most significant reason Bitcoin is so good for businesses is that it’s instant! If you’ve ever sent money internationally by money order, check, or even digital purchases made in person - you know just how long it takes to verify the payment, receive the payment, and complete the transaction. If you travel you understand this even as a consumer. The scarf you bought on Sunday in Mumbai used a credit card machine to charge you; but that charge could show on Tuesday, or Wednesday of the following week, along with a few nasty transaction fees. With Bitcoin and Digital currency these complex financial issues are a thing of the past.
Are you interested in incorporating crypto?