Should you accept cryptocurrencies in your business?

As a business owner, it is common to always look for ways to capitalize on current trends to increase your sales and your profile in your industry. One of the biggest trends in business today is cryptocurrency, especially Bitcoin. Countries are even beginning to adopt Bitcoin as their legal currency, with El Salvador being the first to do so, according to bitcoin news.

Because cryptocurrency services have so much power in financial systems, companies have no choice but to adapt their methods to retain and grow their customer base. As it has become a more conventional form of payment for many customers, especially the younger ones, you, as an entrepreneur, may wonder if it is the right time for your company to accept cryptocurrencies, given inflation.

Bitcoins in buying and selling products

What is happening today is that many of the users who own Bitcoin around the world – especially in Latin America – use the currency more as a form of investment, waiting for its appreciation, than to buy products, because there are still few units that accept payments in Bitcoins.

Some visionary entrepreneurs and marketers see an opportunity there. Even though there are not so many Bitcoin holders, there are few opportunities to spend them. In addition, the more services offered with this form of payment, the more people need to join.

The Benefits of Accepting Bitcoins

Still not convinced to accept Bitcoins in the sale of your products? Find out below the main reasons to change your mind.


There are several lines of action in which no unit still supports Bitcoins. Being the first can make a significant difference. It’s a great way to get spontaneous media to promote your brand.

New customers

As I mentioned before, many have virtual currencies, but they don’t know how to use them. Therefore, when they become aware of the possibility of paying for a particular Bitcoins service, they may become new customers simply because of their practicality.

Free advertising

How do those users want to know about your business? Sites like CoinMap, SpendBitcoins, BitcoinSearchEngine, and more offer lists of services that accept payment by cryptocurrency, because there is always someone looking for those units.

Ease and price

You may be wondering why you should start with this virtual currency story instead of simply accepting a traditional online payment. The advantage of using Bitcoins is that you don’t need to install an e-commerce system (which is expensive) or pay a commission, as in intermediary services like PayPal.

Disadvantages of cryptocurrencies in the company

Despite the advantages mentioned above, cryptocurrencies as a form of payment also have several disadvantages:


Bitcoin and other cryptocurrencies are known for their price fluctuations. If you start accepting bitcoin as a form of payment and then its value decreases on the same day, you will suffer a loss.


Not everyone is familiar with how cryptocurrency transactions work. For some, it can be a little intimidating, so you should first educate your customers on how to do it. As an entrepreneur, you need to make sure that each of your customers understands how to handle these transactions. That involves a lot of study and advice from you.

Regulatory uncertainty

Even though they are only nine years old, some governments remain unsure how to regulate bitcoin. If bitcoin continues to have this consideration, imagine what will happen to the other cryptocurrencies that came after. Bitcoin is still, so to speak, in kindergarten. In this case, entrepreneurs will need to have flexibility when governments start regulating cryptocurrencies.