Why Crypto Will Save Your Business from the Crisis
For many bitcoin is just some kind of a toy that can help you buy something online secretly; they do not take cryptocurrency seriously as it is just a “digital” thing that has nothing to do with real life. Today we will show you why it is not just a plaything but the real savior in times of crisis. Do not make your customers wait until you integrate crypto-payments and see what advantages your business can gain by it!
A Real Example
It’s no secret that we’re living in the midst of an economic crisis due to the COVID-19. It’s not only a threat to the economy but to human life and health. There are different ways to protect people from the virus and one of them was introduced by the Chinese government. As cash is one of the main sources of infection, they decided to “disinfect” all the cash with ultraviolet light or quarantine it from further use.
Thus, e-commerce transactions gained more popularity. But what currency should people pay to save their money? As many economies collapse, cash or not, a currency loses its value. Fortunately, there is one currency type that not only stayed afloat but actually increased in value – crypto.
History of Stability
Bitcoin has already correlated with financial crises around the globe. In April 2013, when Cyprus was in the middle of a financial crisis, bitcoin skyrocketed in its trading value. It increased from about $48 to about $75 a coin thus meaning a 1.6-fold rise.
There was an increase in the trade volumes in bitcoin as well. When people had nowhere to go as the banking system collapsed, those who needed a haven to store their funds had fled to cryptocurrency. It is the proof that a market with $300 billion capitalization should be taken seriously; crisis or not, your business still needs a safe haven as crypto.
Bitcoin during the COVID-2019 crisis
Bitcoin has performed much better during this year's crisis. While the S&P 500 is off 14% for the year, bitcoin has lost only 5%. It still can be early to draw any conclusions as the crisis isn’t over yet. However, crypto is quite stable in comparison to its other rivals.
Bitcoin is a young asset and there is much more to come. Let’s wait until it will unleash its full potential. More about the bitcoin performance in the crisis you can read here.
As people trust cryptocurrency more and more with each passing day, crypto-payments have gained popularity. One of the main reasons for such behavior is no confidence in central authorities and their way of managing the economy. As bitcoin and other currencies are completely decentralized, it seems like a legit alternative to handling the world's problems.
Cryptocurrency technologies potential and billions of dollars’ value will completely transform industries like banking or real estate. The second reason is its availability. In times of global pandemic it’s better to stay away from public places. Unlike fiat currencies, crypto can be bought via online exchanges or through indirect transactions. Being able to do business remotely will save you time and money.
Save Your Business Now
Now we know more about cryptocurrency behavior during the COVID-19 and following the economic crisis. Let’s sum up the main reasons why you should start accepting crypto-payments in such rough times:
Stability. Bitcoin and other cryptocurrencies are a real haven during the crisis as they have been growing no matter what the circumstances. Decentralization is the way to go!
Your funds are safe. You don’t have to look for a secure way to transfer your funds to. You can receive payments and keep it in crypto. You won’t lose on exchange rates or other fees.
Expand your customer base. More and more people will be attracted to your business with this payment option. As we’ve said before, it’s much easier to pay with crypto as it’s absolutely remote and secure.
Turnover boost. As the cryptocurrency market of $300 billion is continuing to grow, imagine how many lucrative transactions are waiting for you. Connecting crypto-payments can bring more money to your business, which is always relevant.
We’ve summed the 9 main reasons why your business should start accepting cryptocurrency. You can read about it here - https://plisio.net/blog/9-reasons-why-you-should-accept-crypto-payments-on-your-website
It’s high time we all started to look for alternative options to deal with the crisis. Cryptocurrency is a perfect solution for those who want to be confident and secure about the future. Being open-minded can help you solve many problems and grow your business even in the rough times. Make technologies work for you!
If you’re interested, you can integrate a Plisio cryptocurrency payment gateway with a 0.5% fee for free. Use our API or ready integrations with the following instructions and connect your business in a matter of a few clicks.