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What You can do With Cryptocurrencies (4): Accepting Cryptocurrency as a Form of Payment

What It Means To Accept Cryptocurrencies As Form Of Payment

Accepting cryptocurrencies as a form or means of payment means accepting to get paid in cryptocurrencies. It could be for a service you rendered, a goods you sold or any other business transaction.

If you are business owner and if you are looking for potential new customers, this maybe a solution for you. The interest in cryptocurrencies has soared and it is only expected to increase. Crypto-ATMs is on the increase around the world.

Read Also: Africans Found New Way of Trading Bitcoin Despite Government Bans

Accepting Cryptocurrencies in Your Business

To start accepting cryptocurrencies as a form of payment, you need to let your customers know that your business accepts them. You can simply put a sign by your cash register to easily pass the information. The payments can then be accepted using hardware terminals, touch screen apps or simple wallet addresses through QR codes.

There are many popular online services such as Coin Payments, Cryptonator, CoinGate and BitPay and etc. that you can use to accept payments in cryptocurrencies in your businesses.

Read Also: South Korea | The Hackers of Cryptocurrency Exchanges

Accepting Cryptocurrencies in Your Business In The Web

If you have a business website and you wish to accept crypto payment then it is now very possible. WordPress now have lots of crypto plug-ins that makes it even easier and safe. Still you can simply input a process and show your crypto wallet address to receive the crypto.

Accepting cryptocurrency payment in your website is on best way to help receive payment even faster. And it is also a smarter way as this might prompt more sales due to its low charge and convenience for your customers.

Read Also: What You can do With Cryptocurrencies (3): Cryptocurrency Mining

In the US, Bitcoin and other cryptocurrencies is accepted as a form of payment exactly the same way as accepting cash, gold or gift cards. For tax purposes, the record of the transactions are kept as well and made available to tax officials in due time.

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Written by Russell


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