Accept Bitcoin: 5 Weapons
for Getting Paid Instantly
Choosing to accept bitcoin is actually the hard part while setting up your business to accept bitcoin is the easier part. Dell, Microsoft, Dish and Fiverr are all bitcoin merchants and you should be too. Don't you want to sell as much stuff as possible and give your customers multiple ways to pay you? There shouldn't be much of a debate then. You should be asking how fast can we get set up.
A Couple Questions
1) What type of business are you in and what are you selling? If you sell services, fewer items and invoice infrequently accepting bitcoin is really a snap.
2) Do you want to keep bitcoin or cash it out to US dollars or another fiat currency? If you want to cash out all or a potion of your bitcoin, you'll have to choose a bitcoin payment processor.
Get paid in bitcoin instantly with these Five Payment Weapons:
1) Processors
A bitcoin payment processor is similar to credit card processors and PayPal but they only process bitcoin. Payment buttons, API's and email invoicing are some fast and easy ways to get setup accepting bitcoin. Their main feature is a dashboard for cashing out bitcoin into USD, keeping all your bitcoin or some combination in-between.
Example: Coinbase is universal platform combining personal and business benefits (Make sure you create a different account for business and personal so you don't commingle transactions) You can do all these things and more:
a) Buy bitcoin
b) Get paid in bitcoin
c) Use the wallet to send and receive bitcoin
d) Store bitcoin in a multisig wallet
e) Store bitcoin in a vault with permissions
f) Spend bitcoin with a Visa card
Alternate Example: CoinToPay is BYOP, Be Your Own Processor, model which is like a cross between Self-Serve Bitcoin below and the third party bitcoin payment processor above. You get the e-commerce features with full control.
2) Self-Serve Bitcoin
Bitcoin provides freedom, choice, access and control for your money and finances. The self serve nature of bitcoin means you can setup a wallet and send and receive bitcoin in seconds without a bank. You are truly in control of your money and it comes with 100% responsibility. It's How to do a Banking Transaction on a Banking Holiday Without a Bank.
NOTE: This model works best for direct peer-to-peer transactions or transfers from one wallet to another. The other models work better for a pure e-commerce play or point of sale scenario.
Examples: Depending on your desired level of security and features some great choices are:
b) Omniwallet
d) Armory
NOTE: This small section doesn't any justice for power of these wallets. They deserve multiple blogs on their own merit.
3) Micro Breakthrough
Bitcoin's biggest breakthrough created the opportunity to send and receive money in tiny amounts. How many times have you seen a cardboard sign that says, "Minimum Credit Card Purchase $10"? Micropayments in pennies or dollars are now possible from one of bitcoin's super powers, the elimination of Credit Card Chaos™ fees. Businesses can sell little chunks of information and get paid in little amounts. Now your head is going to swirl will all kinds of new micropayment ideas.
Examples:
a) Streamium (stream video and get paid)
b) Bitmonet (get paid for your posts)
c) Bitwall (monetize more)
d) ChangeTip (more than a like, better than a share: example The Bitcoin CPA™)
4) Shopping Carts & e-Commerce
Your business may already use a shopping cart that integrates with bitcoin making activation a few clicks away. API's are also available to enable bitcoin for an existing shopping cart. Changing shopping cart providers may be the best alternative if you aren't happy with your current setup. You can kill two birds with a stone this way. Sometimes a bitcoin payment processor can be used independently of your existing shopping cart.
Example: Accept bitcoin with Shopify.com, a versatile ecommerce platform including cool ways to get paid such as:
a) Online Store
b) Point of Sale
c) Buy Button
d) Pinterest Buyable Pins
e) Twitter Buy Now
f) Facebook Shop
5) Game Changer
Tokenly.com is a crypto platform designed from the ground up where businesses create their own tokens and accept multiple cryptocurrencies. Tokenization is a game changer with unlimited possibilities for your business. Tokens can be digital gift certificates, rewards, coupons, wholesale, presales and more. It's far more than being able to accept bitcoin and dozens of cryptocurrencies. It's the future of conducting all your business with tokens.
Keep It Moving
Start using any and all of these platforms before your competition jumps ahead. It’s only a matter time before your business will proudly say, Bitcoin Accepted Here. As always we highly recommend having multiple platforms in play. Start mastering bitcoins and business with my book, The Ultimate Bitcoin Business Guide™. It's required reading or listening so you and your business can start playing with and benefiting from 21st century money. Continue your bitcoin and cryptocurrency mastery with The Ultimate Bitcoin Business Blog™ and The Ultimate Bitcoin Business Series™.
