Why Use Bitcoin to Accept Payment for Your Business by EagleFX

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Bitcoin is simply the currency of the future; this is an established fact due to its progressive and popularity in the currency world. Integrating it as a payment option into your business is a great leap as it curtails transaction related costs and most of all; you would not need a complicated merchant account to achieve this. Setting up a Bitcoin wallet for your business is as easy as ABC since all that is needed is creating a wallet to be placed in a mobile device, in the cloud, or a hard drive. The big question still remains ‘Why should I integrate Bitcoin as a payment option for my business? EagleFX will put all of your doubts into rest with some great points below:

Your
Business Needs Bitcoin for the Following Reasons

  •  Regulation of fees: Due to the outrageous fees attached to other
    payment options, many business owners are almost at the losing end after every
    transaction. Bitcoin has cleared many of these loopholes in receiving payments
    as there are practically no fees for receiving payment via Bitcoin. It also
    cuts off all the heinous activities associated with credit card usage and bank
    issues, you can choose to store your funds online without scare.
  • International Reach: Payments can be received
    from any part of the globe in the twinkle of an eye without hassles thereby
    cutting off location-related barriers inasmuch as the payer has access to a
    Bitcoin wallet. Benefits attached with this feature are that there is no
    middleman interference, no fees attached or needless limitations.
  • Scam Protection: Security is paramount in everything
    we do in life including the safety of our funds. Payments with Bitcoin are
    irreversible unlike other payment platform that does chargebacks which gives business
    owners more security assurance and fraud protection against dubious customers.
    Also a digital currency transaction cannot be doctored because of the highly
    sophisticated encryption Bitcoin uses.
  • Avoid PCI Compliance: Everyone knows the
    complication and difficulty attached with credit card usage. Even with the
    thick security Bitcoin wallets are fortified with, there are still no hidden
    charges underneath transactions unlike the traditional credit card. As at the
    time of this writing, Bitcoin is not PCI compliant.
  • Advanced Payment Option
    for Customers:     Eagle FX took a survey online anddiscovered thatwhile some customers don’t own a credit card, others have
    encountered bad experiences with the credit and debit card system and are
    seeking alternative payment options to purchase goods and services. Bitcoin has
    closed that gap by offering flexibility and ease of payment which translates
    that your business will attract more customers when they find the Bitcoin
    payment option on your site

Setbacks with Bitcoin

Like every other thing, there
is no perfect system in life, Bitcoin certainly has its own flaws which include

  • Not widely accepted due to
    skepticism and interference from world powers
  • No restoration of lost
    wallets, hence no buyer protection
  • The value of Bitcoin
    increases and decreases continuously with no guarantee on its stability.
  • No refund or payment reversal
    after a successful transaction

However, the cryptocurrency world is
still under its evolution stage, so most definitely these flaws with Bitcoin
will be tackled in the near future.

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