The number of businesses that use bitcoin keeps increasing every day as more people use crypto for many purposes such as investment and transactions. Despite the crazy volatility of cryptocurrencies, organisations and even countries continue to use crypto. In the United States alone, more than 2,000 businesses accept Bitcoin, and this does not include the many Bitcoin ATMs across the country.
There are a lot of opportunities that come with using crypto for your business transactions. Let’s take a look at why crypto is essential for your business.
Why Crypto is Important for Your Business
There are so many reasons why you should use crypto for your business. Cryptocurrencies were built to replace the traditional finance system and remove the need for a third-party during financial transactions. Cryptocurrencies are decentralised and have helped businesses compete with giant players in the market. With cryptocurrencies, businesses do not need to wait a long time for large payments to be completed, and they can also use crypto to hedge against inflation in developing countries.
Cryptocurrencies give you access to new demographic groups as you can offer your products to your target audience as well as your target audience who use crypto. A survey shows that 40% of clients who pay with crypto are new customers of an organisation, and their purchases are double those of credit card clients. Introducing crypto into your business expands your business reach as individuals begin to realise that your business acknowledges this innovation.
Cryptocurrencies additionally offer you a new form of income as you can reinvest your crypto to acquire passive income. With crypto, you gain access to new capital and liquidity pools through traditional investments that are tokenised. You likewise save more money by using crypto for your transaction as they offer a method for exchange with lower charges. Also, you can save your assets in crypto and hedge your money against inflation which depreciates the value of the local currency over time.
MSMEs: The Perfect Soulmate for Businesses
With the many benefits of crypto for your business, you may wonder how to take advantage of this technology to improve your business earnings and reachability.
There is a blockchain ecosystem that is focused on helping micro, small and medium businesses to grow called MSMEs. MSMEs are designed to ensure that businesses have access to financing and can compete with the big dogs in a highly competitive market. With its novel, DeFi product, Truss, MSMEs provides a platform for businesses to receive funding and ensures that investors receive rewards for their investment. You can also learn from the MSMEs Academy about how crypto works and how you can use crypto for your business.
MSMEs run on their native token called MSMECOIN. The utility token allows users and businesses to make transactions on the platform. In addition, MSMEs also rewards those who hold the utility token as holders will have access to saving and staking services to earn more tokens on the platform.
MSMEs has already launched a $100,000 bounty program where participants stand a chance to win free MSMECOINs.