Unbeknownst to some of us, many small & medium-sized businesses accept bitcoin as payment for their products and services. For example, self-employed individuals, independent contractors, freelancers, and gig workers such as hairdressers, barbers, tattoo artists, nail techs, Uber drivers, OnlyFans talent, and  Etsy creators may accept bitcoin as tips and/or payments. The best way to know is to ask your professional if they accept bitcoin.

The benefits to SMBs accepting bitcoin are:

🧡 Lower transaction fees: Bitcoin transactions can have lower fees than traditional payment methods, particularly for cross-border transactions. This can help small businesses save on transaction costs.

🧡Global accessibility: Bitcoin operates on a decentralized network, allowing businesses to receive payments from customers worldwide without needing traditional banking systems or intermediaries. This can expand their customer base and reach.

🧡Faster transactions: Bitcoin transactions can be processed relatively quickly, especially compared to traditional banking systems, which often involve delays due to intermediaries and verification processes.

🧡Reduced fraud risk: Bitcoin transactions are highly secure due to blockchain technology’s cryptographic nature. This can help protect small businesses from fraudulent chargebacks and unauthorized transactions.

🧡Financial inclusion: Bitcoin enables businesses to reach customers who may not have access to traditional banking services. This can be particularly beneficial in regions with limited banking infrastructure

Resources for SMBs to adopt bitcoin coming soon!