Are you in the UK, running a business or simply interested in the cryptocurrency world? Here’s a quick blog post highlighting both UK and global businesses accepting cryptocurrency payments and why your business could begin doing so too.
What is Cryptocurrency?
If you’re aren’t completely sure, according to the English dictionary, a cryptocurrency is a form of digital currency, which can be used as actual funds. These virtual currency can be used to pay, transfer funds, and even receive funds. – This, when applied to the business and commerce world is probably the best use of and definition out there.
Why Should Your Businesses Start Accepting Cryptocurrency?
As the financial and business world is changing, with even more being spent on online transactions, as a business is it better to get on board the cryptocurrency trend now or regret it later?
While some of the biggest online retailers in the world, alongside many small boutique businesses and shops are now accepting virtual currency, Bitcoin payments for goods and services, what benefit does accepting cryptocurrency afford to your business?
- Growth – there is no doubt that the number of coins is growing on a daily basis. Today, there are more than 720 currencies, and the number is still growing. Which means that, even if the market leader Bitcoin isn’t for you, there are hundreds of others out there ready to implement. Including touted PayPal slayers including Dash – the self branded ‘virtual cash’ alternative.
- Borderless – as it is digital in nature, it is not limited by borders. It is known as the currency of the world. There are no barriers with cryptocurrency you can use them from any part of the world, and pay or receive funds from anyone who accepts them.
- Profit – with cryptocurrency you can get to keep more of the money you’re working so hard to earn, each transaction only attracts a small if not zero fee for processing. Compare this to what some banks charge, while including bank account fees – your business could be saving a pretty penny.
- Instant Access – when receiving a payment you will have access to it as soon as the sender clicks send. Normally, you will have to wait for the payment to be cleared by the bank. Getting you paid faster and, when it comes to digital or ‘e-products’, allowing the end customer to receive their goods faster.
- Identity – no personal data is required, all you need is the name of the recipient and address. Cutting down on admin and paperwork your end.
Major Businesses Around the World that Accept Cryptocurrency
If that’s not enough for you, here are just a handful of well known businesses across the world that are currently accepting payment in the form of virtual currency:
Overstock – you can buy anything from a laptop to a TV, to pillows, with virtual coins.
Expedia – now you will not just be travelling in style, you can travel with ease. As Expedia is accepting cryptocurrency.
eGifter – you easily purchase online and offline using cryptocurrency with eGifter.
Foodler – you can even order food using digital currency.
Newegg – if you are a gadget junky then you can use your cryptocurrency to pay for any electronic available at Newegg.
Shopify Stores – anything and everything can now be bought using cryptocurrency on Shopify.
Businesses in the UK that Accept Cryptocurrency
While many of the above examples are major players in the online world, what about businesses closer to home? The cryptocurrency hype has started to grow in the UK as well, here are a few little known, but innovative businesses that accept cryptocurrency in the UK.
Saw Mill Cafe – located in Stratford, East London, is now accepting Satoshi cryptocurrency.
Pubs – there are a number of pubs all around the UK that are now accepting cryptocurrency. Such as, the White Lion, the Pembury Tavern, the Haymakers, the Coalheavers, the Devonshire Arms, etc.
8 Ball Bikes – you can now buy anything from a bicycle, to a bell using cryptocurrency.
Taxi’s – there are a number of taxi drivers who now accept cryptocurrency.
PrivateFly – you can now easily pay for a private jet using your cryptocurrency.
Imperica – now you can get anything printed in 3D using cryptocurrency with imperica.
Girl Meets Dress – you can now rent any designer jewelry, dress, or bag using cryptocurrency.
East London Man With A Van – will happily accept cryptocurrency, when you hire them for a moving job.
As more and more businesses and individuals begin to invest in and use cryptocurrencies, will your business be left behind, or are you going to be the next business to be added to this list?
If you’re UK based business currently accepting Bitcoin or Altcoins for payment, let us know and we will include it on this page.
Likewise, if you as a business owner or individual would like some help getting started with virtual currency, why not contact us today. One of our dedicated UK cryptocurrency brokers will be in touch within 60 minutes to discuss your needs and provide a custom quote on your next currency purchase.