Historians believe that metal objects were first exchanged as a form of currency around 5,000 B.C. Coins popped up around 700 B.C. and the American dollar was first printed in the late 1600s. We’ve watched currency evolve over time but who could have predicted that there would one day be a type of currency that couldn’t be printed, felt, or passed between two hands during a transaction? Digital currency, or cryptocurrency, has made us all reconsider the basics of money. Learn how this revolution is changing how small businesses find success.
What is Digital Currency?
Digital currency, once thought to be a short-lived fad, has proven itself to be one of the most innovative concepts to come out of the online market place. While some businesses are drawn to digital currency systems, others fear it and avoid expanding into the digital currency world.
If this describes your current stance on virtual currency, you could be leaving customers behind. Even though some still have their doubts regarding the longevity of digital currency, it likely isn’t disappearing anytime soon.
Benefits of Digital Currency
If you’re just starting to explore the idea of accepting digital payments, you might be curious about digital currency pros and cons. Consider the following when weighing your options.
Benefits
Security
In a world filled with identity thieves and data breaches, security is crucial to both merchants and consumers during online transactions. Virtual currencies provide increased privacy and protection from hackers.
Digital currency also helps prevent illegal transactions. While some fear that it’s easier to conduct illegal activity with this type of currency, there is a trail that makes it easier for criminals to be tracked and prosecuted.
Another security feature to consider is that digital currencies are yours forever. The government can never seize digital currency or garnish an online currency account.
Fraud Free
Unlike cash, virtual currency cannot be counterfeited. And unlike credit cards, payments can’t be pulled back by the sender. If you’ve been worried about accepting online transactions because of the risk of fraud, this isn’t an issue with digital currency.
Limited Fees
Most types of online currency are decentralized, meaning that the government isn’t regulating its trade. This is great for sellers because you’ll typically pay less in virtual currency fees than you would in credit card processing fees.
Concerns
Limited Accessibility
Some countries, like Thailand, have outlawed certain digital currencies. Without proper regulations, some countries would rather just limit the usage of the currency rather than have to worry about the uncertainties that surround it.
Unknown Future
Whether this is considered a downside or not to digital currency is up for grabs but while most forms of currency have been around for decades or even centuries, there is very little history of digital currency, making it difficult to predict is future. You’ll find predictions on both ends of the spectrum but you’ll also find plenty of investors who understand the risk associated with a new currency and are excited to take the plunge.
Trade Dollars – Your New Digital Currency
If you’ve looked into the digital transaction world before, you’re probably familiar with bitcoin, the most popular type of digital currency. Bitcoin is designed for all types of transactions but it does have its limitations.
Trade Dollars are a new digital currency designed for business to business transactions on Tradepay. They’re used in tandem with real cash during a transaction so that both the merchant and buyer are gaining value without being overstretched.
Trade Dollars can be used to purchase just about anything you need for your business. Whether it’s inventory, services, or local help, Trade Dollars can be used to pay for 40% of your transaction while cash is required for the other 60%. When you’re ready to make the leap with your business into the virtual currency world, Tradepay is the perfect digital currency exchange platform to work with.
How Trade Dollars Help Your Business
When you choose to accept Trade Dollars as a form of payment at your business, you’ll come across a wide variety of benefits associated with digital currency. Do any of the following sound appealing?
Immediate Funds
Unlike credit card transactions, checks, or even some money exchanging platforms, Trade Dollars are instantly transferred into your account. There’s no holding or waiting period. This means that once you make a sale, you can make a purchase immediately following.
Faster Transactions
Digital currency, including Trade Dollars, make the purchasing process much faster. Unlike credit cards, which typically require you to enter a number, expiration date, name, address, and billing address, you usually only need to input a username when using virtual currency.
Eliminate Borders
While there are some limitations to where digital currency is accepted and used, it has still helped to shrink the financial world. A transaction can take place between Japan and Australia one moment and between the United States and South Africa the next. Whether you’re a small business or own a global company, digital currency can completely change how you run your business.
Discover the Potential Behind Trade Dollars
Sandy’s had a brick and mortar store for years. She’s experienced great success on a local level with her educational products but now she’s considering taking her business to the next level. Online sales have always seemed like a hassle and because her home décor items aren’t overly expensive, credit card fees never made sense to her.
But when she came across Tradepay, she instantly saw the benefits. Working with a digital currency platform that also required the use of cash in each transaction would mean that her costs would always be covered and she would still have enough profit margin to make it worth her while. But being paid in Trade Dollars as well meant that she could also purchase her supplies at an extreme discount.
Digital currency makes it easier for anyone to go from selling products locally to selling and shipping globally.
Digital currency is starting to shape the economy of the future. If there’s one thing history has taught us, it’s that currency evolves. Is your business ready to evolve as well? If so, head over to Tradepay today where you can be up and going in a matter of minutes and start using the newest digital currency to bring companies together.
