Bitcoin Accepted Here:
The Easy 8's of Effortless Adoption

Uncategorized Jul 07, 2016

Why should you accept bitcoin? The answer is very simple. Having bitcoin eliminates the following in your life and business:

1) Waiting to use your own money

2) Paying outrageous and surprise fees to use your money

3) Headaches and frustrations when using your money

Keep reading and find out how to remove yourself and your business from the Banking Burnout Bonanza™.

The 8 Drivers of Effortless Adoption

There are many bitcoin payment solutions available depending on the type of business, online presence, size of business, number of locations and more. The 5 Weapons for Getting Paid Instantly gave you the platforms while this blog gives you the Easy 8's of Effortless Bitcoin Adoption for putting the platforms into action. When the following conditions are present you can accept bitcoin in your business with less work. 

Driver #1) You have a microbusiness

Driver #2) You have an online business

Driver #3) Your business has fewer locations

Driver #4) Your business has fewer decision makers

Driver #5) Your business has fewer products and services

Driver #6) Your business sells services rather than products

Driver #7) Your business could easily change its existing shopping cart 

Driver #8) Your business' existing shopping cart is already integrated with bitcoin 

Example #1

Professionals like attorneys who typically bill by the hour create unique invoices for their clients. They could use Coinbase, Bitpay or another bitcoin payment processor to send bitcoin invoices without having to integrate anything on a website. The attorney may have a website but invoicing is done directly with the client. They have one service which is an hourly rate times the number of hours worked. It's the most effortless example of bitcoin adoption and easy for the microbusiness to say bitcoin accepted here. 

Example #2

Dell was able to accept bitcoin in 2 weeks with a team of people and lots of resources. A restaurant group with 12 locations has more decision makers and would have to invest more in equipment and training to accept bitcoin at each store. An online business with hundreds of products may have to upgrade shopping carts or their web platform to integrate bitcoin or it could be a seamless adoption. 

The 8 Benefits of Saying: Bitcoin Accepted Here

The benefits eliminate waiting for your money, paying lots of fees to use your money and the headaches of Credit Card Chaos™ and the Banking Burnout Bonanza™. Your business will enjoy the following benefits right away:

Benefit #1) Sell more stuff

Benefit #2) Get more loyal customers

Benefit #3) Peace of mind in your business and personal life

Benefit #4) Online businesses have more to gain from less fraud

Benefit #5) Demonstrate your business' commitment to innovation

Benefit #6) No more fumbling and responding to credit card chargebacks

Benefit #7) No more exorbitant merchant fees eating away at your business' profits 

Benefit #8) You get your money instantly. You don't wait 7 days or more like credit cards and banks

Example #3

A thin margin retail business such as the Target's or Pmart's of the world may operate on a 2% profit margin. Credit card fees can easily chew up 4% of sales which is ironically more than the profit margin. Let's say a bitcoin payment processor charges 1% magically creating a 75% savings from standard credit card fees. The retailer gets a 150% or a 2.5 times profit margin increase from 2% to 5%. (Credit card fees 4% - new cost of 1% = 3% savings; then 2% profit margin + 3% savings = new 5% profit margin) 

Getting Into Action

Bitcoin is our modern day financial super hero. If you enjoy breaking away from the Banking Burnout Bonanza™ then get, The Ultimate Bitcoin Business Guide™ in e-book, paperback and audiobook to find out all the other cool benefits of using 21st century money. Its also a must read for learning more about accepting bitcoin in your business.

Get more crypto nuggets at The Ultimate Bitcoin Business Blog™.

 Kirk Phillips, The Bitcoin CPA



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