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SMALL BUSINESS NEWS

17 Jul 2017

 

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Should The Popularity of Bitcoin Spur You To Accept It?

According to the Digital Mint there are over 100,000 merchants that accepts Bitcoin; there are over 631 Bitcoin ATMS worldwide; and there are over $100,000,000 done in transactions daily.

Since the implementation of bitcoin in January 2009 it has grown significantly.   

Bitcoin is accepted in over 100 countries around the world to include the U.S., Japan, France, Belgium, Germany, U.K., Ireland, Australia, New Zealand, Italy, Greece, Turkey, Russia, Germany, Croatia, Thailand, Phillipines, Indonesia, China, India, Cyprus, Canada, etc.  See a list of countries that accept bitcoins.

Then number of bitcoin exchanges have grown significantly, thereby enabling more daily transactions.  There are between 200,000-370,000 daily transactions involving bitcoins. 

eBay and 99Bitcoins list hundreds of companies that accepts bitcoins as legitimate forms of payment.  Among them are Shopify, eBay, Microsoft, Subway, Tiger Direct, Expedia, Dell, OverStock.com, Whole Foods, Etsy Vendors, Bloomberg.com, Virgin Galactic, and much more.

Japan passed a new law that authorized the use of digital currencies which went into effect in April 2017.  Bitcoin is expected to be accepted in over 260,000 stores in Japan this summer.

There are Bitcoin ATMs all over the U.S.  See Map.

Most of the worlds largest Bitcoin companies are in the U.S.    Hence, it is easy to buy Bitcoins using Cash, Credit Card or Bank Transfer.  This make it easy for consumers to buy and use Bitcoins.  All they need is to find a Vendor that takes them as payment.  See a list of locations where consumers can buy Bitcoins.  Each have their own requirements. 

Becoming a vendor that accepts Bitcoin payment is not difficult.

Learn more about Digital Currencies.

 

Sources:
99Bitcoins
eBay
Digital Mint
IRS Rules
IRS Q&A webpage for Bitcoin
Wikipedia
CoinPursuit
Blockchain


By Bill Williams

 

 

 

 

 

 

 

 

 

 
 

 

  
 

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