The tech giant Tesla is raising eyebrows with its recent move that sent the price of Bitcoin past the 48k mark. The company decided to use Bitcoin as a way to diversify its balance sheet and counteract the effects of the dilution of the U.S. Dollars. Tesla’s record purchase only shows that crypto currencies will indeed become a form of payment as well as a form of investment. Experts see it as a pioneering move likely to be adopted by other companies. Is your company going to be left out?
Wall Street banking giants JPMorgan Chase and Goldman Sachs can no longer ignore the growing importance and potential of crypto currencies as their own employees start asking about when the companies will begin accepting Bitcoin trading. Financial institutions are being forced to consider crypto assets as more institutional investors, fintech competitors and corporations fear being left behind.
It is clear that Bitcoin and other digital currencies are turning heads in high places, and what was once thought of as a shady investment scheme has now proven its worth and growth potential. Isn’t it time for your company to jump aboard, too? (Hint: you don’t need to be a Wall Street giant to join in…).
A senior analyst from Citibank predicts that Bitcoin will quickly become the “21st century gold” as its price is projected to skyrocket to the $300k mark by the end of 2021. By analyzing Bitcoin’s historical trends, experts say there is a strong possibility that the currency may reach a record price of $318,000.00.
If their prediction is correct, your business could have an extra $32,000.00 added to its balance sheet if you had collected meager $6,000.00 today. What would that extra money mean for you and your business?
Following Tesla’s massive purchase of 1.5 billion in Bitcoins, Uber CEO Dara Khosrowshahi tells CNBC the company would consider accepting Bitcoin and other cryptocurrencies as payment. While the CEO says they will likely not follow Tesla’s steps and buy crypto for their balance sheet, they believe that accepting crypto payments may be a convenient and beneficial option for riders and delivery customers.
Other giants such as Mastercard are weighing their options and leaning heavily toward adopting crypto payments and enabling crypto transactions for their cardholders. BNY Mellon – the oldest bank in America – is launching a digital assets division in 2021. These are just a few names on a growing list of major players who understand the impact and potential of crypto. When Bitcoin payments become the norm, will your company be ready?
In Bitcoin’s early days, Laszlo Haynecz – an early contributor to Bitcoin’s software in 2010 – became the first person to use crypto in a real-world transaction. At the time, the currency was worth a meager $41. He posted in an online forum that he was willing to exchange 10 thousand bitcoins for two pizzas – and succeeded. This has become what Bitcoin enthusiasts call Bitcoin Pizza Day. The amount Laszlo paid for his pizzas would be worth around $2,000,000,000 today.
What if you were on the receiving end of the 10,000 Bitcoins back then? The good news – it’s not too late. You can still collect your coins and get your own piece of the crypto pie.
The Taihuttu Family decided to go all in and invested everything they had into Bitcoin in 2017, when it was trading for $900. Years later, they live an adventurous, location-free life and have visited over 40 countries, and given about half of their money to charity.
Can you imagine having this type of financial freedom? What would this do for you, for your family, for your business? Would you have invested in Bitcoin when it was $900 if you knew how much it would be worth today? Knowing that Bitcoin may reach 300k by the end of 2021, will you regret missing out on it – again? It’s time to make a decision!
Once your initial investment is processed, you will get a fully integrated payment gateway that will work with your current website and enable customers to pay for goods and services using cryptocurrencies. Our team will do the work required to integrate the crypto payment gateway and ensure it is fully functional while you just sit back and watch our progress.
Not at all. The service we are offering is comparable to adding a shopping cart to your e-commerce website. While we do take care of the technicalities required for the initial setup process, we will not have any access to client transactions or payments you receive – transactions and payments as well as any crypto collected are solely your responsibility.
We understand that the high volatility of many cryptocurrencies is not for everyone, and not everyone wants to deal with prices that fluctuate by the minute. Your payment gateway enables you to withdraw any coins received and convert them into USD, which then will be deposited directly to your bank account for a low fee of 0.8% per transaction.
First, we recommend you speak to a licensed financial professional or tax advisor for specific questions regarding taxation on cryptocurrency investments – but generally speaking, you may expect to only pay taxes if the price of crypto goes up between the time you received payment and the time you converted it to USD. For example, if you received 500 dollars worth of Bitcoin when the price per Bitcoin was $50,000.00 and decided to withdraw it to your bank account a month later when the price hit $55,000.00, you are likely looking at paying capital gains tax on the difference. If you choose to withdraw your funds at the same price point that you received them (i.e. the price per Bitcoin did not increase), you probably will not need to pay taxes. Again, it is wise to consult a professional that can assess your particular situation and provide more specific answers.
On average, our team can get your crypto payment gateway up and running in about 48h. Once your gateway is active, you will be ready to start accepting bitcoin payments right away!
Yes, it can work on any website but we recommend using WordPress or Shopify for best results.
We are happy to provide general information and answer your questions about getting started with cryptocurrencies. We are not licensed financial professionals and cannot offer any investment advice, but we will do our best to provide you with useful tips and resources to learn more about the crypto world and take your first steps on this journey.