The new Bitcoin digital cryptocurrency has been gaining in popularity with both early adopters of the payment technology as well as those merchants that are willing to accept Bitcoin as payment for goods and services. The growing acceptance and popularity of paying for goods and services in Bitcoin has led to the development of a number of correlated industries and companies such as Bitcoin exchange merchants that allow people to swap their own currency such as dollars, euros, or yen for Bitcoin.
There Is A Limited Supply Of Bitcoins
One of the benefits of denominating a portion of your money in Bitcoins is that the currency itself differs largely from other major world currencies because it is not susceptible to central bank inflationary pressure and quantitative easing due to the fact that there are a fixed number of bitcoins that can ever be created. This, however, would not decrease the ability to use bitcoins for transactions as the units of currency can be divided down by eight digits, or the hundred millionth decimal place.
Your Digital Wallet Fits In Your Pocket
Those merchants that are willing to accept Bitcoin as payment in person will usually be using the digital wallet software on their smart phone, and you can facilitate a Bitcoin transaction when the merchant creates an invoice with a QR code that the customer can scan with their phone to complete the transaction. Once the customer scans the generated code with their smart phone the transaction will update on the merchant’s phone and be complete in just a few seconds.
Reduced Transaction Fees For Merchants
One of the reasons many merchants and online business owners have decided to accept Bitcoin as an optional payment method is that it offers them reduced transaction fees as opposed to the costs associated with credit card processing. This will benefit the merchant who is able to keep a larger percentage of the transaction price without the need for higher credit card processing fees, and it can also protect the merchant from the risk of chargeback fraud where a credit card charge is reversed at a later date.
This type of purchase transaction may also benefit the consumer as the merchant will be able to offer products or services at a slightly reduced cost due to the money that is saved from lower transaction costs. Considering the option of owning Bitcoin in a digital wallet or accepting Bitcoin as payment with your small business can be a financially rewarding choice for individual investors.
In this video I will cover a bunch of exciting information related to NEO, and why all of it put together could result in the price of NEO continuing its upward trend.
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