Successful Bitcoin Marketing usually results from innovative businesses simply agreeing to payments to open up new niches. Many businesses have had great performance with using Bitcoin, which more strengthens the economy by giving even more uses for the cryptocurrency. The almost non-existent fees and the inability to reverse transactions is a huge selling point regarding business, where traditional payment strategies (like credit cards) could depart the business with losses.
Here are some from the businesses that have had great success with accepting Bitcoin as a payment method.
Bees Siblings was a business set up by three brothers that were learning about bees by means of farming honey. Over time, they wound up with more honey than they knew what to do with, and started to sell it locally. This eventually led to receiving Bitcoin for online purchases, getting that it has no fees and is a very safe method for accepting payments (with no charge-backs), and their business exploded from there.
It is really safe to state that Bitcoin is what made their own business as successful as it is nowadays, and they, in turn, helped strengthen Bitcoin by accepting it. It is a win for everyone.
Expedia is a main site for booking travel, and they have recently started accepting Bitcoin as being a payment method. They tout over 290, 000 bookable properties. As of yet, airline tickets and car rentals are unable to be paid via Bitcoin, however they have stated that they are working on this.
It is not clear exactly how much the acceptance of Bitcoin has affected Expedia, but they stated that they came up with their own estimates as to what they should expect. Expedia further stated that they have been conference and exceeding those estimates, resulting in great things for the company (and Bitcoin).
Dell is a major computer company that pretty much everyone should already be familiar with. Their approval of Bitcoin was a sign it turned out going to make it mainstream, or at least get more attention from those that in any other case are uncomfortable with the idea of cryptocurrencies.
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It’s hard to say exactly how their own business accepting the coins will probably affect them, but it is important to take into consideration the fact that their clients largely include computer experts and other knowledgeable individuals. In other words, it’s hard to go wrong along with accepting Bitcoin as a technology organization.
As of yet, no information has been released as to what effects the move to receiving Bitcoin has had on Dell, though it is safe to assume it is going to at least be helpful. Even if the sales for your business don’t increase, every selling that happens through Bitcoin means less cash is lost due to fees plus fraud.
Why Bitcoin is Useful for Businesses
When it comes down to it, Bitcoin offers the same benefits to all businesses that will accept them. They offer reliable payments (that can’t be reversed or be seen to be fraudulent), low fees (the acceptor pays absolutely nothing on their end) and quick transfers (there is no waiting for days or weeks to have the funds in).
All of these help increase business productivity, increase the profit and help secure the business overall. Besides this, all funds that are taken in are held by the businesses themselves, as opposed to having to wait for a third party to release (or not release) them.
As more and more businesses jump on board with Bitcoin, it will help push others to get in on it as well. This benefits the complete community, by increasing the number of suppliers and consumers that are utilizing the currency, which in turn gives more uses and helps create more liquidity.
For a number of businesses, the effects of Bitcoin acceptance still have not been seen. Since the economy around it grows, nevertheless , this will change and great things will happen.