Our team at Evolution Business Marketing & Communications is pleased to announce that we are now accepting cryptocurrency as a form of payment. Going forward, we will accept Bitcoin, Ethereum, and other cryptocurrencies for marketing services.
Chris Cathers, Principal of EBMC, has over 20 years of experience in marketing and communications. He says there are several reasons why they have decided to accept crypto payments.
BORDERLESS TRANSACTIONS
A huge advantage in using cryptocurrencies is users don’t have to wait days for transactions to be processed. In fact, individuals may send and receive money around the world instantaneously. Unlike banks, there are no international fees. Anyone with internet access can send funds to anyone, anywhere. Furthermore, users do not require a bank account number or ID and cryptocurrencies are established everywhere.
ELIMINATION OF CHARGEBACKS
Chargebacks are scams where customers use products or services for free by reporting fraudulent charges against a business to use their credit card company. This can result in a great deal of loss and wasted time for businesses trying to fight the charges.
However, with crypto payments, transactions may not be altered, thus eliminating potential fraudulent chargebacks completely.
ELIMINATION OF THIRD PARTY
The bank is in control of a company’s money with traditional payment methods. Since a business provides services to their customers, they also receive payments in their bank accounts. A bank can freeze funds or close an account without any notice. With crypto payments, there is no third party involved. Each person controls his or her wallet, with full access to it at all times and no government involvement whatsoever.
MINIMAL TRANSACTION FEES
Compared to traditional payment methods, such as credit cards, crypto payments result in significantly lower transaction fees. In truth, for every $100 a customer spends, $4 goes to credit card companies. Add to that credit card, debit card, ATM, and other bank fees. In the case of cryptocurrency payments, crypto gateways like BitPay charge a nominal 0.5-1% per transaction.
PRIVACY & SECURITY
Banks collect and store scores of data from every single customer. Banks monitor where individuals spend money, credit scores, and other personal information. Individuals who use cryptocurrency can maintain a higher level of privacy because the data is limited. Customers are assured that private information is not being shared with anyone.
Furthermore, chances of fraud with cryptocurrencies are significantly reduced. Transactions are permanent and cryptocurrencies based on blockchain, such as Bitcoin, cannot be hacked. Therefore, using crypto payments offers more security.
Undoubtedly, Chris feels crypto payments are a must for any business looking to acquire international clients.
Although many people do not understand how virtual currencies work, there are millions of people actively using crypto-wallets. In fact, the world is approaching a digital environment with obvious benefits. The travel, food, and clothing industries have already adopted cryptocurrencies as payment.
Evolution is your Vancouver Island marketing company. Let us show you how to grow your business.
Get in touch with us any time at info.evolutionbusiness.ca or at 250-740-1844. We look forward to providing you with a positive and progressive marketing experience.
