Startups and Cryptocurrencies
Why You Should Be Accepting Them
Written by Sebastian Fung.
Don’t know what cryptocurrencies are? Learn the basics of cryptocurrencies, or risk sounding stupid.
Wondering why they’re important for startups and small businesses? Here are three reasons:
1) No Transaction Fees
Unlike PayPal and Stripe, who both charge 2.9% + $0.30, there are often times no (or very low) transaction fees for cryptocurrencies. Although this doesn’t sound like a lot, it adds up, especially for startups and small businesses who are against the odds already.
2) Increased Coverage
There are almost 200 cryptocurrencies and more being released weekly. As an early-adopter of a cryptocurrency, you can enjoy a nice bump in traffic and press. Dogecoin via Reddit has shown the benefit of being an early-adopter of a cryptocurrency. This benefit isn’t exclusive to startups either,burger joints and other “real” businesses have seen the benefit.
3) Embrace the Future
Most people don’t get cryptocurrencies. Some people want it to fail. As with all new technology, the first few years are the hardest. Consider this:
- The iPhone was originally considered impractical — it had a bad battery life and didn’t have a keyboard.
- Computers were considered necessary for only businesses and the government. Now they’re the norm.
- PayPal and online banking was considered infeasible. They’re just numbers on a screen, what if there’s a virus?
- Paper money, in it’s original form, was considered strange. Why not stick with gold and silver, what is this paper money?
At FunnelFeed, we’re working on accepting cryptocurrencies because…
Why adapt to the change when it becomes mainstream, when you can be an innovator?
Does your startup accept cryptocurrencies as payment? Let us know on Twitter (@FunnelFeed).
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