Digital currency trading was once an arena occupied exclusively by tech-savvy investors. As digital currency continues to be accessed by global communities, the potential benefits for small businesses have become increasingly pronounced. Small businesses can not only invest in digital, but they can also accept digital coins as a form of payment! Continue reading below to learn the benefits of trading with digital currency.
1. Fewer transaction fees and chargebacks
The absence of third-party intermediaries coming between you and your customers means your business will benefit from fewer, if any fees. Digital currency networks often have charges of less than 1%, in fact Qoin has zero fees, placing them well ahead of credit cards. Furthermore, because digital transactions are irreversible, you don’t run the risk of chargebacks. Ultimately, you and your customers will benefit from a more efficient form of payment and a greater sense of financial security.
2. Instantaneous large payments
Banks can take hours or even days to process large transactions. However, the blockchain technology driving digital currencies can process an extraordinary volume of transactions in seconds, regardless of their size, location, and even the currencies used. Part of the reason this works is that you, the business owner, controls the handling of these transactions. You’ll need to download a digital currency wallet.
3. Reduce the risk of fraud
Arguably no payments are more secure than those made through the blockchain. Blockchain technology produces an immutable, pseudonymous ledger that cannot be overridden. The blockchain spares no room for debts or credit either, so customers can only pay for what they can afford. This means that the potential for bank or credit card fraud is less of a risk for small businesses, who can be disproportionately affected by the fallout of such practices.
4. Global sales potential
Increasingly, small businesses are finding that they can dramatically extend the reach of their business by investing in e-commerce applications. If you’re willing to do the legwork of global logistics and distribution, you can sell your product to anyone with an internet connection, anywhere in the world. The other key challenge of global commerce, however, is currency conversion. A surprising percentage of profit can be lost in exchange fees, but this issue is non-existent with digital currency. Digital currencies like Qoin are decentralised, allowing for instantaneous global transactions with no exchange fees—an open invitation for small businesses to raise their ceiling online.
5. Heightened brand visibility
How many small businesses like yours are currently accepting digital currencies? Setting your business up with the infrastructure to trade with digital currency will help you project a decidedly modern image. What’s more, digital currencies like Qoin have their own trading network, providing you with a whole new commerce ecosystem to operate within, and a whole new audience you can expose to your business.
The Qoin for small businesses to trade with
The only remaining obstacle for small businesses interested in the potential of digital is finding an ecosystem of potential customers ready and willing to pay with their digital currency. That’s where Qoin steps in. Qoin is a digital currency backed by the goods and services of a participating merchant network that provides a number of benefits of trading with digital currency. By registering with Qoin, you join a network of small businesses and consumers ready to trade with a new digital coin that has the potential to grow in value as more merchants join. Contact Qoin today to see how this new frontier can benefit your small business.