Bitcoin’s digital currency payment is still getting traction with approximately 80,000 merchants accepting the payment worldwide. The numbers are predicted to increase throughout the years with the majority of merchants coming from e-commerce businesses. Notable sectors using Bitcoin include technology, computer, electronics, apparel retailers, food and travel services. Gone are stigmas that Bitcoins are only used for drug dealers and shady merchants, these days the digital currency is being used as a safe and efficient way to make online sales.
With numbers cited from Bitcoin specialty processors Coinbase and Bitpay Inc., “The average Bitcoin sale is about $400, more than four times the typical bank credit card purchase of $90”. Bitcoin is continuing to gain merchant approval and is the go to alternative choice for forward-thinking ecommerce businesses. With its trending popularity, it still remains a niche payment method. Most of the currency’s main users being males ages 18-45 years old, the currency is mainly used by tech-savvy males pushing the forefront of digital solutions.
Although, going mainstream won’t be anytime soon, but with technology growing exponentially, digital services and products can make leaps and bounds in a short amount of time. If you are a business interested in using Bitcoins as a means of payment, Emerchantbroker.com can help you get a Bitcoin merchant account. Start accepting and managing your Bitcoin payments for your business and open your doors to a whole new form of income.
The acceleration of technology growth has already created tech businesses to start incorporating Bitcoin into their business strategy and the success of early adopters such as Square and Intuit have shown tremendous potential in digital currency. These early adopters provide the foundation and acknowledgement that Bitcoin needs for other providers to enter the market with confidence and more research and development in the Bitcoin payment system.
Bitcoin’s selling points is its efficient and low cost payment system compared to credit cards. With the typical sales charge being approximately half or even less than half of a credit card, which alone can convince businesses to switch over to Bitcoin.