19-03-2023
BitcoinCash is best crypto in terms of P2P capability and potential to do thousands of transactions in no time. The adoption of BCH has been massive over the last 3 years where individuals, read.cash , noise.cash , BCH houses in different countries like Venezuela, Nigeria and India doing Extra ordinary and playing vital role. According to maps.bitcoin around 16500+ regular listed merchant's network has been established already.
Goods sellers, importers, suppliers , retailers and merchants are getting huge benefits from it.
Let's see how a retailers/ vendor/ shopkeeper getting benefits from BCH and what he is saving with BitcoinCash.
Instant Payments.
Bitcoin cash giving true freedom in financial services where retailers/ suppliers/ producers getting the instant Payments for their products. We know bitcoin cash has faster , cheaper and secure P2P transactions capacity where no any bank account , LC , transit vouchers required. Distances , places and volumes has no any hurdles against Bitcoin cash.
Saving from Conversions.
In fiat currency payment we have mostly native currency amount in hand which we convert into suppliers demand which mostly is USD. Now for example if a supplier of USA sending products to Pakistan what I will do? I will convert my PKR currency into USD $ by paying conversion fee . Then I will deposit/ transfer it to supplier again by paying transaction fee . But BitcoinCash saving us from conversions.
Lowest Transactions fee .
One of the blissful feature of the BitcoinCash is it's free structure. World wide payments through credit card has around 3% fee . Then banks charge us in Different slabs and limits. More higher amount, more fee charges in our domestic banks but BitcoinCash saving our money due to much lower transaction fee then fiat payment.
Added Value Edge.
Accepting BitcoinCash as payment method giving additional edge to our business. It builds new costumers base for the store which mostly are young, new and modern. This is plus point for any retailer that he will get new costumers ho are interacted with BitcoinCash.
BCH as Marketing Tool.
BitcoinCash is a brand in itself. Millions of users has interaction with BCH daily. Now if any shop/ point/ outlet start accepting BitcoinCash as payment method, that shop automatically gets advertisment in BitcoinCash community. One user told to other and it spread like a fire in jungle that Mr.Y shopping store accepting BitcoinCash.
Control Over Cashflow.
BitcoinCash giving control over cashflow without any inference of third party. Pure ownership with 24/7 access to funds without any time limit/ border limit giving better control on in and out of cash which is key factor in any successful business. Some times in market opportunity rise to buy a certain product in dip but if we didn't have 24/7 access to our funds then we can't get full advantage ( bank holidays, timing, logistics etc) but BitcoinCash giving us full access to it all the time .
Cheers,
Amjad
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Lead image: Pixabay ( modified)
Screen shot taken from Maps.
It's a good move to adopt BCH in business sector however the problem is merchants are worried about the volatility of crypto, they are worried that once they use BCH as mode of payment, they lose a lot once market go down, but the idea of decentralization is good since merchants had full control without paying any tax.