Why Your Business Requires Cryptocurrency As A Form of Payment

Despite the lack of proper understanding of the intricacies of blockchain technology and Bitcoin, the spread and acceptance of Bitcoin and its derivatives as means of payment are gaining ground as small businesses embrace this payment mode that eases the stress and reduces credits for them. Cryptocurrencies such as Bitcoin and Ethereum have highly developed payment platforms that enable easier methods of peer-to-peer transactions with little or no experience of blockchain technology.

The benefits of accepting cryptocurrency as a means of payment out ways the cons and are stated below:

Secure and Safe

For starters, cryptocurrency is a better and a more secure means of the paper currency in use today. The use of cryptography protocols that encrypts delicate data transfers through complex code systems. This is why cryptocurrency and blockchain technology is a very safe platform for payments, transfer, and receiving funds that small business can enjoy. Aside from that, payments involving cryptocurrency are untraceable, and customers don’t require the provision of personal information such as bank card details, addresses, and phone number which lessens the risk of data theft and identity.

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No Fees

The use of cryptocurrency for your business provides a faster, cheaper, and a free means of fund transfer. When customers use this digital means of payment, the charges incurred by banks are eliminated on either side of the business.

Global Acceptance

Cryptocurrencies are now acceptable in over 130 countries worldwide; from the villages and suburbs of large cities to the corridors of the world’s stock exchange, cryptocurrency is gradually taking over the conventional legal tender, credit, and debit card to establish itself as an effective means of payment fully. When your small business accepts cryptocurrency as means of payment, it places your business on a global level and increases your customer base.

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No Third Parties

The birth of blockchain displaced intermediaries in business transactions as customers could relate directly to the merchants. This crypto payment developed better business relationships as fund were transferred and received faster without hiccups and as such the problems of funds being held by financial institutions are totally eradicated, and business moved faster and better too.

Limitless Funds

The use of cryptocurrency payment methods gives you access to any amount of fund at your disposal. Banks and financial institutions have limits to funds withdrawals but with cryptocurrency business owners can use funds without worries.

Cryptocurrency is gaining grounds in the business world as more people and businesses understand it better. Don’t be left out of the advances in blockchain technology and start using cryptocurrency payment means today.

Crypto Arbitrage Trading News – New Arbitraj LLC Tool Coming Up

Traders are keen to take advantage of the crypto arbitrage trade.

Cryptocurrencies can have price differences of up to 5% across different exchanges, making them ripe for arbitrage. US startup Arbitraj has developed price comparison tools and is working on a trading tool to take advantage of the spreads. Cofounder Jason Flack says hedge funds have approached him about using the tools.

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Developed Markets

In most developed markets, assets will be priced the same across different exchanges. Any pricing imbalances present one of finances golden opportunities: arbitrage. This is where a trader buys an asset — say a stock — on the exchange where it is cheaper, turns around to sell it on the exchange that quotes a higher price, and pockets the difference. It is an easy way to make money.

Price spreads of up to 10%

But even some of the most liquid cryptocurrencies such as bitcoin can have price spreads of up to 10% across different exchanges due to the difference in demand, a lack of pricing regulation, and difficulties trading between some exchanges. Toby Allen, a partner at Chicago-based Akuna Capital, told Business Insider last December: “There is sometimes 10% exchange arbitrage. As a trader, it is such an amazingly fun space to be in compared to traditional assets because of the spreads and technology gaps.” LA-based Jason Flack, a venture debt investor who developed the Arbitraj apps, told Business Insider: “In order to drive more volume to an exchange, you might price your assets a little bit cheaper. “You’ll see the ones in South Korea, they are charging premiums on their bitcoins because there’s so much demand. They can’t access Coinbase, they can’t access Bittrex, they can’t access any of these US exchanges.” It’s not just friction between markets that create pricing imbalances.

Read full post: http://www.businessinsider.com/arbitraj-arbitrage-cryptocurrency-spreads-2018-6