If you’ve been hearing a lot about Bitcoin in recent years, you may be wondering whether it’s time to start using the digital currency in your business. If you’re looking to grow your company to new heights, Bitcoin could be just what you need to do so. Many companies have written off Bitcoin in the past, such as the online casino BetSafe, and the current boom is making them regret it. Here are three surprising ways that it can actually help with your business expansion efforts: Expand Your Customer Base Many business owners fail to realize that they lose out on customers when they refuse to accept popular forms of currency. As Bitcoin continues to grow in acceptance, letting people know that your business is open to transacting with this currency may pique the interest of those who prefer to pay with Bitcoin. You may find that those who uninterested in patronizing your business previously may suddenly become interested in spending their Bitcoins with you, increasing your bottom line and your customer base.
Financial TransparencyAre you looking for ways to increase the level of trust you have with your customers or supporters? It’s important for business and non-profit organization leaders to know that there is no better way to do this than to be more transparent with your financial practices. If you’re an organization the relies on donations, using Bitcoin allows those involved with you to see how much money you raise and spend on a regular basis. Furthermore, business owners will be able to verify honesty in their charges and transactions. This, in turn, leads people to trust you more because of your willingness to be open about your financial habits.
No PCI ComplianceIf you want to accept credit cards in your business, you will quickly come to realize what a hassle PCI security compliance can be. While PCI security does help protect you and your customers from identity theft, it’s important to note that using Bitcoin can help relieve you of this responsibility. This is because Bitcoin streamlines the transaction process by requiring no personal information from your customers, which means there’s no concerns about having to keep this information safe and secure.
Bitcoin may be a relatively new currency, but that doesn’t mean that you shouldn’t consider using it in your business. Doing so can not only increase your potential customer base, but it can open you (and your company) up to a whole new world of financial possibilities.