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E-commerce Entrepreneurs Are Accepting Bitcoin (BTC) – Here’s Why

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Mon, 06/08/2020 - 06:38
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Vladislav Sopov
Bitcoin (BTC) and e-commerce go hand in hand, and these times have only shown more to this truth.
E-commerce Entrepreneurs Are Accepting Bitcoin (BTC) – Here’s Why
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In these times, Bitcoin’s value and utility have thrust it into the spotlight as a way for individuals to have better control over their funds, including the survivability of one’s own business.

Bitcoin payment gateways have created profitable opportunities for e-commerce site owners to earn Bitcoin (BTC). As trust in Bitcoin is at an all-time high, many are discovering numerous benefits to adding it as an alternative payment method alongside PayPal (PYPL) and credit cards. 

Bitcoin Has Real-World Value

As countries face economic hardship, people are starting to doubt the financial systems. Even some of the top financiers, banks, and investors are rethinking their dismissal of Bitcoin (BTC).

For example, JP Morgan has recently started to work with cryptocurrency exchanges, and Paul Tudor Jones said he’s now invested in Bitcoin (BTC). The average person is also thinking about how to get involved, and that includes e-commerce merchants, who see Bitcoin both as a holding of wealth and an ability to expand their markets. 

Do E-commerce Shops Hold Their BTC?

E-commerce entrepreneurs are also looking to Bitcoin (BTC) as an easier method to sell their goods and store their value in these uncertain times. According to a recent survey by Blockonomics, over 70% of interviewed store owners are holding at least 50% of their Bitcoin (BTC) earnings, and just under 10% are buying even more Bitcoin (BTC). 

Both small business owners and investors are seeing the benefits of Bitcoin (BTC). 

As Bitcoin (BTC) continues to skyrocket, breaking $10K in a short period of time, online storekeepers want to hold onto more of their Bitcoins (BTC). As the price continues to go up, their sales go instantly into an investment that has good returns. 

Reasons to Convert BTC Revenue into Cash

E-commerce entrepreneurs are exploring Bitcoin (BTC) for a number of reasons, and it's only been accelerating. One problem owners are facing involves their supply lines. As e-commerce expands, ensuring their production and shipping operate smoothly and efficiently is a priority. Historically, this meant having to convert a large portion of any crypto income into fiat to pay suppliers and shipments.

However, as more trading and shipping companies are accepting Bitcoin payments, this is becoming less of an issue. Cryptocurrency has made supply chain more efficient with faster payments and cost savings from currency exchanges and bank fees. E-commerce entrepreneurs are looking more and more at these options. 

A Profitable Way to Earn Bitcoin

For crypto enthusiasts, selling goods for Bitcoin (BTC) is also an easy way to earn Bitcoin (BTC), certainly much cheaper than setting up a mining rig and mining Bitcoin (BTC) yourself, especially with the recent halving. 

By drop shipping and selling goods, especially digital goods, enthusiasts can earn quite a bit of Bitcoin (BTC) with low overhead. 

As Bitcoin (BTC) continues to grow in popularity, more and more e-commerce entrepreneurs are looking to Bitcoin (BTC) as a good way to expand both their markets and to hold onto their hard-earned cash. As the benefits for Bitcoin (BTC) increase, so too will the number of merchants be using it. We have to be ready.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)