A growing number of businesses are accepting bitcoins as one of the payment methods. The change in mindset is quite visible. For example, owner of Bootleg Mannings, Kelly Manning says, “I just thought it would be really cool if we could get people in here using bitcoins,” Jonathan Johnson, Chairman of the Board at another big player entering the bitcoin digital currency revolution Overstock.com states, “The first day when we launched it, about 2.5% of our sales revenue was in bitcoin.”
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Businesses are accepting bitcoins
1. Businesses are Accepting Bitcoins
A growing number of businesses are accepting bitcoins as one of the payment methods. The change in
mindset is quite visible. For example, owner of Bootleg Mannings, Kelly Manning says, “I just thought it
would be really cool if we could get people in here using bitcoins,” Jonathan Johnson, Chairman of the
Board at another big player entering the bitcoin digital currency revolution Overstock.com states, “The
first day when we launched it, about 2.5% of our sales revenue was in bitcoin.” The online retailer
reached the million dollar target within a short span of just 8 weeks after they began accepting bitcoin
as their payment
method. Johnson
enthusiastically
predicts to reach
$10-$15 million in
bitcoin revenue by
the end of this year.
With bitcoins you
don’t pay the heavy
processing charges
that you pay for your
credit cards. The
risks of frauds are
also non-existent. In
the words of Paul
Puey, CEO and Co-
Founder of AirBitz, a
bitcoin business
directory and wallet, “No one can make a purchase using a stolen bitcoin the way they can with a stolen
credit card—a common situation that costs businesses a lot of money.”
Affordability, enhanced security and ease of operations are just some of the many factors that are
attracting more and more people and businesses towards accepting digital currencies as their preferred
mode of monetary transactions.