Why Bitcoin?
Bitcoin |
Credit card |
Cash |
|
---|---|---|---|
Protects against inflation |
✅ | ❌ | ❌ |
Transaction fees |
0% – 1.5% |
1.5% – 4% |
0% |
Final validation |
Instant |
2 – 7 days |
Instant |
Dependent on specific hardware |
No |
Yes |
No |
Cancellation of payment |
No |
Yes |
No |
Physical theft |
No |
No |
Yes |
Spare change management |
No |
No |
Yes |
Temper-proof |
✅ | ✅ | ❌ |
100% in control of your money |
✅ | ❌ | ❌ |
Worldwide money without change fees |
✅ | ❌ | ❌ |
Passively invest part of your cash |
✅ | ❌ | ❌ |
Bitcoin BENFITS
Why you should consider accepting Bitcoin as a merchant.
There are two types benefits of bitcoin acceptance. Direct and instant benefits, and more indirect benefits which will take time to realize.
Direct benefits are:
- Reduce fees
Accepting payments over the lightning network can reduce your fees for payment processing.
- No chargebacks
The cost and friction of card chargebacks is gone. Depending on the type of business you operate this can be a great cost reduction. - Freedom money
Bitcoin is the only money (in fact the only asset) you can truly own. If you self-custody your bitcoin, it’s “unconfiscatable”. It’s also persmissionless, inclusive, global and 100% censorship resistant. Human rights cases such as Wikileaks, Canadian Trucker Protests have proven this argument. - Capital gain
Bitcoin has appreciated in value 12 out of 15 years in its existence. On average it goes up by 100%. - Attract a new demographic
Accepting bitcoin will make you the preferred option for Bitcoiners around the world. Bitcoiners would always choose a business that accepts bitcoin even if they have an easier or cheaper option available. Bitcoiners love to spend Satoshis and support bitcoin merchants. Maps like btcmap.org and blink.sv can be used to list your shop as well as index pages like OrangePillApp and LightnignNetworkStores. You can also heavily lean into the community marketing as seen with businesses such as Pubkey (Bar in NYC), Princess (Bitcoin Hotel Germany), Bitdriver (Taxi in El Salvador) and thousands of othersMore indirect benefits which will realize over the long-term:
- Imagine your COST DECREASES
Bitcoin’s limited supply enables a deflationary economy where people’s purchasing power increases over time. The opposite of today’s inflationary system where most people get poorer over time.
- Imagine your customers have MORE PURCHASING POWER
Bitcoin’s limited supply enables a deflationary economy where people’s purchasing power increases over time. The opposite of today’s inflationary system where most people get poorer over time.
- Imagine your customers have MORE TIME
Customers who have money that appreciates over time will need less hours of work to afford their monthly expenses. As a result they can spend more time doing things they love, like visiting your business.
And hundreds of additional, positive social and economic effects which all small businesses will enjoy on a Bitcoin Standard.