Crypto In Towing Business: What You Need To Know

Businesses today are accepting cryptocurrency as a mode of payment. Cryptocurrencies are essential since they hold the perspective to transform how you transact with the digital world.

Why are towing companies dealing with Bitcoin?

There are several motivations as to why San Jose Towing companies might get involved with Bitcoin.

  • Customers want to pay for your products or services in bitcoin.
  • Businesses have suppliers or remote workers in other countries where traditional bank transfers are expensive and cumbersome.
  • Companies have high cash reserves and are looking for a way to avoid negative interest on the bank account.
  • Companies with high cash reserves are looking for ways to diversify and hedge against a potential spike in inflation.

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What are the advantages of bitcoin for towing businesses?

Bitcoin offers businesses the following benefits.

No Payment Fees

Credit card transactions cost 2-4%, Bitcoin 0.-1%. This can have an enormous positive effect on cash flow, especially in business areas with thin margins.

Instant Bitcoin transfers

One of the most frustrating aspects of the traditional banking system is the long payment times. This applies in particular to payments to and from abroad, where transactions are often cleared by several correspondent banks. This process is time consuming and expensive.

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Worldwide acceptance thanks to the Bitcoin network

Companies are increasingly operating globally. Bitcoin is recognized and accepted worldwide.

Pioneering role and new customer segments

  • The Bitcoin community is a tight-knit community. If you announce that you will accept Bitcoin as a payment method, it will definitely get noticed.
  • You are addressing new customer segments with the offer: Technology-savvy millennials, but also for the numerous and fast-growing start-ups, your towing products and services can become more attractive with the acceptance of Bitcoin as a means of payment.
  • Existing customers and partners perceive them as innovative.

No more charge-backs and credit card disputes

When a customer disputes a credit card charge, it often entails a month-long gauntlet of uncertain outcomes to prove to the payment processor that the charge was legitimate. Smaller companies, especially in the software sector, often do without it, leaving money behind. If you are paid in Bitcoin, they are irrevocably yours as soon as they are booked.

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