Bitwala Makes Bitcoin More Attractive To Businesses

There is no denying companies around the world should keep a close eye on blockchain technology and Bitcoin payments as they stand to gain a lot from doing so. Various companies active in the Bitcoin world are trying to provide services to businesses and consumers alike, and Bitwala is focusing their attention on small business owners and freelancers. Reducing the fees associated with their service will make international transfers more efficient, and companies will get special conditions.

Also read: Thinkubator Focuses on Fintech and High-tech Startups In Canada

Business Privileges for Bitcoin Usage Through Bitwala

Making Bitcoin more appealing to consumers is a significant struggle, but merchants and business owners need some convincing as well. Using Bitcoin goes well beyond the boundaries of sending and receiving payments in exchange for goods and services in a convenient manner. Companies such as Bitwala want to make it easier for businesses to pay employees and freelancers, regardless of where they are located.

Various jobs on the market can be outsourced with relative ease, but making international payment sis both time-consuming and expensive. Moreover, the recipient will have to pay additional fees if the initial payment was sent in a currency that is not their local form of money. Conversion rates are never for the person exchanging funds.

Bitwala brings an end to these high fees and slow money transfers, by embracing Bitcoin as a payment method to avoid hidden fees and most of the exchange rate fees. It is the first time this Bitcoin service opens its doors to companies, and their set of features is quite appealing to business owners to say the last.

Having the ability to transfer money globally without worrying about bank transfer fees and slow transactions can be invaluable for any company looking to innovate and outsource. Moreover, Bitwala will let companies use Bitcoin to pay their utility bills and settle employee payments at lightning speed and small fees.

But that is not all, as businesses will have access to a dedicated support line, and they can deal with higher transaction volumes compared to consumers. Regardless of whether the company is an individual freelancer or a multi-billion dollar business, Bitwala welcomes everyone and anyone to give their services a try.

At the time of publication, a total of 34 countries were supported by Bitwala. The company is focusing their attention on SEPA-eligible countries, although an international expansion is certainly possible over time. The latest country added to the Bitwala services is the United Kingdom, allowing for money transfers denominated in GBP currency.

Source: Bitwala Blog

Header image courtesy of Bitwala

Originally published at Fintechist.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.