Written by: Jaime Flores
Contributions by: Dominick Welte
Digital Marketing Specialist
You have seen it before.
Books, magazines, television shows — each one disappearing from the hands of the consumer only to dominate the internet.
– Netflix reinvented the movies,
– Kindle built a library,
– And now, cryptocurrency battles the dollar.
The matchup is lopsided.
On one hand, you have a fiat currency ravaged by online hackers, taxed by pesky middlemen, and misplaced by busy shoppers. Compare that to a secure, innovative, trendy way to spend money and you know why bitcoin’s popularity has exploded in recent years.
In fact, major retailers such as Microsoft, Home Depot, Starbucks and Whole Foods lead a wave of entrepreneurial businesses in adding cryptocurrency to e-commerce websites or hiring individuals who are familiar with how digital currencies work to prepare for what’s to come.
As A Business Owner:
Getting prepared today and familiarizing yourself with how digital currency will be used as payments is a smart choice!
Let’s Take A Deeper Dive Below
How Will Crypto Currencies Change The Way People Pay?
Crypto is cheaper and faster
Payment methods constantly evolve over time and demand responsive merchants. Those who fall behind go out of business: survival of the fittest. Or survival of the quickest.
For example, early bartering morphed into trading gold for goods until paper money eradicated the use of both. Credit cards combined with cash to provide multiple in-person payment methods, and now, cryptocurrency adds to the accessibility of websites by creating a safe, easy way to transact funds.
Unlike credit cards, which commonly have their information stored and stolen from databases, cryptocurrencies eliminate the need to hoard information online because they operate from digital wallets or decentralized bank accounts. Once a crypto purchase is made, the business receives a payment in cryptocurrency — a fluid form of money that can be converted to FIAT cash at any time, without the need of third parties charging fees to complete the transaction.
For example, Paypal charges a four percent toll on any sale. Bitcoin only pockets a one percent cut. And even better, crypto payments process instantly, never taking more than a few seconds for an exchange. Also, since cryptocurrencies avoid government affiliation, they create limitless possibilities for international sales.
Through an innovative e-commerce website, small businesses easily generate sales in multiple countries without the hassle of foreign transaction fees.
It’s becoming widely accepted
Cryptocurrency – a dominant trend – influences the business world in a manner comparative to social media. Companies that fail to engage on popular platforms like Instagram and Facebook loose valuable consumer interactions, they lose low-hanging sales. Just so, businesses that fall behind on payment methods – an ever changing process – exclude customers that rely on crypto transactions.
Early adopters such as Shopify (the largest e-commerce website in English speaking countries) and Facebook showcase the benefits of the new currency: an inclusive environment that boosts sales and revenue.
Recently, the CEO of the famous movie theater AMC announced they now accept various digital currencies. Movie goers can now purchase movie tickets using Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), & Shiba Inu (SHIB) – Why? because he listen to his customers asking to pay using popular crypto assets, and who are his clientele? the younger crowd who are going on movie dates and the future innovators.
In September of 2021, El Salvador adopted Bitcoin as legal tender due to its concern about the dollar and inflation.
The giant online retailer Amazon is taking a closer look into digital currencies by hiring crypto engineers and developers to build its own blockchain – would a tech giant such as Amazon even consider crypto if they didn’t see its future value? (via AWS)
Intel is designing a new chip designed to mine cryptocurrency (which they are calling a “blockchain accelerator”) with a focus on sustainability, and plans on developing the most energy-efficient computing technologies at scale.
Have a crypto-friendly team on your side
In order to lead the market in innovative advancement, companies must embrace cryptocurrencies: a task that involves accepting crypto payments online. However, as with adopting social media, taking the first step often proves daunting.
Not only are cryptocurrencies still developing, but extensive knowledge of website design, trends, graphics, payment options and regulations is essential to the success of a business. Even worse, this knowledge must be refreshed often as technology continues to change.
Therefore, learning to build an advanced web platform consumes valuable time that would otherwise be allocated to daily operations such as generating revenue. As a result, the choice between accepting crypto or not remains confusing.
Nonetheless, marketing professionals constitute a great resource for businesses interested in increasing sales by joining the crypto craze. Their extensive knowledge, experience and creativity ensures that your ideas will be brought to life on a Web 3.0 scale.
At iSeed Digital, our studious love for web development and innovation takes that burden away from the business owner with the struggle of staying up-to-date on new technologies, and allowing you to focus on your customers and remaining competitive in your industry.
In fact, all businesses should consider upgrading their websites and work with a web company that is knowledgeable with crypto currencies and understand how they will impact the future of transacting online and in-person into their marketing strategy to accept this “modern money” because otherwise their online presence will stumble to irrelevancy. At iSeed Digital, we have already begun this process.
Contact us now to upgrade your website and improve the way you do business forever.
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