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Why businesses need to be offering cryptocurrency payments

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In recent years, Bitcoin and other cryptocurrencies have emerged from the underground and have found their place in the mainstream worlds of finance, eCommerce, and business. But as a business owner, should you consider offering cryptocurrency payments? There are plenty of big names that already do and many benefits for you.

Big companies that use cryptocurrency

The widespread adoption of cryptocurrency has been driven in part by major retailers and service providers opting to offer cryptocurrency payment methods. Some of the world’s biggest companies offer payments in bitcoin, ether, and some other currencies.

For example, Microsoft, Overstock, Twitch, and AT&T all accept crypto payments. You can even pay for your Starbucks, Burger King, or KFC with Bitcoin if you so wish. For the adventurous amongst us, space travel via Virgin Galactic can be paid for with crypto, or you could just fly to Norway with Norwegian Airlines. Asides from the big names, it’s estimated that 36% of SMEs in the US, accept Bitcoin with some accepting other virtual currencies as well.

Why business should use cryptocurrency

There are several reasons why cryptocurrency payments are beneficial for businesses. Some of them will depend on the nature of the particular industry, but others are more general. Firstly, cryptocurrency is huge, and offering this service gives you a competitive edge over other businesses, as well as plenty of cool points. Furthermore, there are some 1.7 billion people across the world that do not have access to a bank account, let alone a card for online shopping. Providing crypto payments allows unbanked individuals to pay for goods and services online.

There is a global shift away from a cash-based economy and to a digital- economy. People are preferring to use electronic payments and, increasingly, digital currencies to transact online. Cryptocurrency payments, for example, are more secure than regular payments as they do not use personal details, and once the transaction is made on the blockchain, it is immutable. This means it cannot be changed, reversed, or tampered with in any way.

How to use crypto for business safely

The key to effective cryptocurrency payment integration is risk analysis and taking steps to protect yourself and your clients. One of the first things you should do is consider taking out insurance such as professional liability insurance. This will provide financial support for you in the case where you may have to defend yourself against a negligence claim made by a customer. This kind of insurance can be required by law in some jurisdictions or areas, but even if it’s not, it’s still worth getting as you never know what could happen.

Other ways to use crypto safely include onboarding a crypto payment processor. This will securely take care of all payments to and from your company and it will ‘lock-in’ rates at the value they were when the transaction was made. This will ensure you are protected should the value of the coin drop after the purchase has been made.

Integrating cryptocurrency payments into your business is something you will have to consider sooner rather than later. Why not take the plunge now and join the ranks of some of the most forward-thinking companies in the world.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Turning Tragedy into Triumph Through Walking With Anthony

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On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”

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