Businesses have warmed to Bitcoin – the proof is in the growing number of merchants and companies that recognize it as currency. Unfamiliarity, loyalty to physical currency and even suspicion has resulted in slow consumer adoption. Alas, Bitcoin use by consumers has been slow. The solution could be Bitcoin education.
Where Can Consumers Learn About Bitcoin?
It is no secret that educating consumers about the benefits of Bitcoin and other digital currencies in general is needed. So where can consumers turn to learn more about Bitcoin use?
- There are many tutorials about Bitcoin available online. Recently, Instabill copywriters came across a list of the top 10 videos where consumers can learn more.
- The Blockchain app is a free download to your smartphone. Blockchain is a valuable tool and resource – without even owning Bitcoin.
- Curious about the value of Bitcoin? Several websites give live values including preev.com. CoinDesk, one of the leading news sources on cryptocurrencies, offers live values in different currencies such as US Dollars, Euros, Great Britain pounds and the Chinese Yuan. As of Thursday morning, Bitcoin value hovered around $242 per.
4 Reasons Consumers Should Care About Bitcoin
Understandably, most consumers are content with cash and credit/debit cards. Bitcoin education means pulling consumers out of their comfort zone, which won’t be easy. But consider these four benefits:
Easy Peer-to Peer-Transactions: Among the beliefs held by many at the 2014 Crypto Valley Summit Sept. 17-18 in Douglas, Isle of Man was the desire to eliminate the ‘middlemen’ and fees in transactions. Bitcoin transactions are peer-to-peer, no intermediary and no fee.
The Blockchain: The Blockchain is the ledger that records all Bitcoin transactions under each owner’s username, helping to curb fraud.
No Regulation…Yet: Currencies with which consumers are familiar rely on governments. Because of certain global events and market crashes, governments can fail. Bitcoin is a global currency without regulation. In the US, the states of New York and California are proposing regulations.
No Chargebacks: This is good and bad. Once a consumer pays for goods or services with Bitcoin, the sale is final. The only way to recoup a refund is with the consent of the payee.
Bitcoin Merchant Accounts Through Instabill
Instabill has a wide offering of industries for which we process payments. We have also built a trusted network of domestic, international and offshore banks to accommodate those industries. Bitcoin merchants who partner with Instabill can enjoy the ease of offshore banking, free payment gateway integration and live, one-on-one customer support.
Speak with a live representative today at 1-800-318-2713 to get your Bitcoin business up and running.