• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
Accepting Bitcoin - A Marketing Strategy

Accepting Bitcoin – A Marketing Strategy | Opinion

Gautham by Gautham
8 years ago
in Uncategorized
Reading Time: 2 mins read
Advertisement

Bitcoin has been around for about seven years now. Many around the world are gradually adopting it. It is slowly replacing the conventional money transfer methods like Western Union and MoneyGram with a much faster, safer and economical alternative. There are companies that offer bitcoin payment solutions that merchants can readily integrate into their websites or Point of Sale (POS) terminals and start collecting payments in bitcoin.

Even though the bitcoin payment services have evolved enough to enable any merchant to use their services (similar to conventional payment processors), its adoption is still negligible. This is due to multiple reasons.

Why merchants don’t accept Bitcoin

  1. The number of bitcoin users currently in the world is less than 3 million, which is less than 0.05% of the total world’s population. When you look at these statistics, the total number of active bitcoin users right now is equivalent to a small droplet I an ocean.
  2. Until now, the bitcoin transactions are one sided. Meaning, once a bitcoin transaction is executed, it is almost impossible to reverse it, unless the merchant does it manually. In case of any dispute, the customer has to reach out to the merchant and convince him to either refund the price to your wallet or adjust the amount to some other product that you are going to buy from the same vendor. There is a considerable amount of risk involved for both the parties involved in the transaction. (there are a couple of services that offer buyer protection, but they are not available worldwide)
  3. Lack of awareness about bitcoin and related services
  4. Lack of clarity about bitcoin/ digital currency regulations in the region

READ MORE: Ghent, Belgium’s Own BitcoinCity

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Why merchants should accept Bitcoin

  1. Adding a bitcoin payment processor won’t cost a penny more, but it will definitely allow the merchant to accept another mode of payment
  2. It is also a good marketing strategy. It will help the business stand out. If the business in among the first few in the region to adopt bitcoin, then the chances of getting covered in local media is also high.

Having bitcoin as an additional payment option has more advantages than disadvantages as anyone who is familiar  enough with bitcoin to make payments using it also knows and accepts the risks associated with it. But the benefits of accepting bitcoins for a business is far greater than any disadvantage associated with it.

READ MORE: Austrian Startup Coinimal Becomes First Bitcoin Merchant to Add Neteller Option

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Tags: bitcoinFeaturedmarketing strategymerchantsmoneygramOpinionposwestern union
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Gautham

Gautham

Related Posts

Bitcoin To $30,000? Fed Unveils New Tool To Bailout Non-US Banks

Bitcoin To $30,000? Fed Unveils New Tool To Bailout Non-US Banks

23 mins ago
Bitcoin price

Bitcoin Price Barrels Past $28,000 – Can BTC Keep Pushing This Week?

1 hour ago
Solana Price Aims Higher

SOL Price Prediction: Solana Gearing For Another Lift-Off to $25

3 hours ago
Ethereum Price

Ethereum Price Underperforms and Turns At Risk of Downside Break

5 hours ago
Bitcoin

Bitcoin Price Defies Gravity And Here’s Why BTC Could Surge To $30K

6 hours ago
Bitcoin Market Dominance Hits 9 months High as Altcoins Turn Red

Bitcoin Market Dominance Hits 9-Month High As Altcoins Turn Red

20 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

TMS Network (TMSN) Holders Enjoy Gains in Presale Attracting New Investors from PancakeSwap (CAKE) And Algorand (ALGO)

March 20, 2023

USD Coin (USDC) And Cardano (ADA) Suffer Losses While TMS Network (TMSN) Explodes in Presales

March 20, 2023

TMS Network (TMSN) Emerges as the New Favorite of Investors, Leaving Filecoin (FIL) and Arweave (AR) in the Dust

March 20, 2023

Orbeon Protocol (ORBN) Emerges as a Potential Web3 Unicorn, Posing a Challenge to Axie Infinity (AXS) and PancakeSwap (CAKE)

March 20, 2023

The 3 Top Tokens To Buy Below $1 Are Shiba Inu (SHIB), RenQ Finance (RENQ), And Cardano (ADA)

March 20, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.