Cryptocurrencies are the modern form of transactions that works on peer-to-peer architecture. Due to its vastness, security, and volatile nature, some people seemed to talk in favour, such as JPMorgan (cryptocurrency expert) in June 2021. He indicated that the Bitcoin slump to end if the market reaches 50% of the $65,000. On the contrary, Warren Buffett said that "I can say with almost certainty that cryptocurrency will come to a bad end". Now, let us discuss why cryptocurrency in India has a positive impact on business ROI.
Paid Dollars to Save Cents
Even after the launch of the new medium of exchange, your business is probably using those traditional, unsecured, and human interfaced methods, such as awarding salaries through your charge cards, or paying bills via cash or debit cards, etc. Even with the more recent options such as Apple Pay, Google Pay, and PayPal.
These are tried and tested methods, offering convenience to both parties. But look at the time they have taken to build their trust in you and evaded all fears and apprehensions. But having cryptocurrency in India can have its unseeable benefits.
There are gigantic enterprises seemed to embrace cryptocurrencies, such as PayPal and Facebook. These are the ones who already have their seat reserved on the cryptocurrency bandwagon. But what about your business?
Business and Cryptocurrency in India
Cryptocurrency trading in India has witnessed mind-boggling investments in 2020. According to the reports released by Coinanalysis and reposted by Bloomberg, stated India had clocked from $200 million to nearly $40 billion in 2020.
Many businesses are adopting the newest method of payment. And that is the reason why cryptocurrency offers benefits such as speed, cost of transaction, security and autonomy.
Now you might be wondering if these digital assets have such an advantage why the government have issued a ban on them. Well, that's not the case. Government bodies work differently and look for all the demographics, impacts positive or negative, people and other aspects. Though, there is not a complete ban on cryptocurrencies in India. Witnessing such massive investments in a highly volatile market, the Government of India is now in-depth into creating policies and regulations that at the first stand in favour of the citizens of India.
Since you now know about the initiative taken by the Government of India. Enabling payment options and having a cryptocurrency exchange in India is now seemed a worthy choice.
Let's look at a few reasons why cryptocurrency in India must be fused with your business.
Positive Impacts on ROI of Businesses That Have Cryptocurrency in India
Since you are now in no hesitation about accepting cryptocurrency in India as a payment option. It is now the best moment for us to share information the business must-have. Let's get started.
Worldwide Access
Since cryptocurrency has an enormous market space, you do not pay any extra charges for making an international transaction. In most cases, what happens is to have transactions a particular fee gets charged. But to avoid that extra paying of money for no reason, the best way to pay your clients or for service is by shifting your payment option to cryptocurrency. For now, shifting to cryptocurrency in India will also give you other benefits. Let's look at those.
Safeguarding Your Money From Fraudsters
When it comes to making a transaction, the security and safety of the transaction is the utmost priority of any business. And that can be easily achieved by cryptocurrency. When you make a transaction using Bitcoin, a process of Bitcoin mining in India ongoing simultaneously. The Bitcoin mining is done to ensure security, and the data gets converted into a block. The block contains the information of both sender and receiver, but the information does not go public, and no human has access to it.
It Saves Physical Money for Emergency Uses
Since both cryptocurrency and physical money get into use for different purposes, so businesses in India need to understand this. Cryptocurrencies are in the market for certain reasons. Each cryptocurrency has its vision to bring a revolutionary change in terms of transactions or technology advancements. Using cryptocurrency more often will eliminate the need to spend your physical world money, and you can keep it safe for an emergency. So, you don't go into debt.
At last, cryptocurrency can be beneficial in terms of expanding or strengthening your business. Facing the best cryptocurrency exchange in India, you can signup on to Flitpay as a business. With sign-up, you get access to its unique USPs, including Instant deposits through UPI, 99.9% of uptime, multi-platform availability, high volume trading environment, India's first practice account, offers and much more. Choosing Flitpay even for cryptocurrency trading in India will have its benefits too.
So, What are your views on adopting cryptocurrency for business purposes?
