When you’re planning your first (or latest) business venture, the first thing you’ll think about is the amount of money you can make. It’s a natural thought and one that will underpin every aspect of your business from its inception onwards. However, what you probably won’t think about at the start is the way you’re going to process and collect this money.
Every online business needs a safe and secure way to process payments. While traditional payments and eWallets do an adequate job of providing a secure way for customers to pay, the benefits of Bitcoin shouldn’t be overlooked.
The Bitcoin Revolution
Created by Sataoshi Nakamoto in 2008, Bitcoin is a peer-to-peer electronic cash system that allows users to generate (mine), transfer and receive a form of currency (known as a cryptocurrency) online. In fact, the main reason why Bitcoin was a big hit with tech fans when it first started to flow in 2009 was that it was made by and designed for the Internet and, therefore, only existed online.
Moreover, because of the way the currency is sent and received (users must input a unique code as well as a unique user reference before it’s verified by the system), Bitcoin is considered extremely safe and secure.
Today, a number of high profile companies across a range of industries are using Bitcoin. From gaming to aviation, Bitcoin payments are the latest trend in business and something every start-up should be looking to exploit.
As we’ve said, one of the main benefits of Bitcoin is its inbuilt safety features. Because each transaction essentially has to be verified by the system, it means there is always a trace of accountability. One industry that’s recently acknowledged these safety benefits is the iGaming industry.
Bitcoin Brands Becoming Safer
Online casino and poker players are renowned for storing large amounts of money inside their gaming accounts. Because this is a necessary part of the industry, bankroll security is a major priority for all online gamers and that’s why operators such as VegasCasino have flourished in recent years.
When you to join VegasCasino, the system is such that all transactions are carried out using Bitcoin. Unlike traditional online casinos that may offer a Bitcoin deposit option alongside standard currencies such as Pounds or Dollars, VegasCasino handles every deposit, bet and withdrawal in Bitcoin to ensure maximum security.
The upshot of this is that players are afforded an online gaming system that doesn’t require any offline interference (i.e. you don’t have to draw money directly from your bank to play) and, therefore, a more efficient, more secure experience.
Accessible Tech for Small Businesses
More than 3,000 companies now use the Adyen BitPay system to offer secure online payments for their customers. From Microsoft and WordPress to Virgin Galactic, users can now choose to set-up accounts with these companies and pay for products and services using Bitcoin.
For start-ups, this adoption of Bitcoin technology by major brands means that the technology is becoming more widely available for smaller businesses. Indeed, today, if you’re looking to process payments in a more secure and affordable way (in terms of both fees and zero charge backs), then Adyen BitPay and Coinify are perfect options.
Essentially, if you want to make money, you need to process money and as Bitcoin technology becomes more accessible for smaller businesses, you should see it as a must for your budding empire.
