Bitcoin has already conquered its place as the most popular digital currency. After a great start in 2021, Bitcoin is attracting more prominent investors and entrepreneurs who seek to incorporate the coin into their businesses.
Tesla has recently made a massive purchase of Bitcoin and is considering to start accepting Bitcoin as a payment option. BNY Mellon, one of the oldest American banks, announced a digital assets unit to help clients who want to use cryptocurrencies.
The new challenge is to use Bitcoin in more efficient and innovative ways.
New opportunities to use Bitcoin
A new path to explore with Bitcoin is through remittances, which refers to the sum of money you send to another party. Usually, the transaction is from an immigrant who sends money back home.
In 2019, an estimated 270 million people were working outside their home countries. Statistics show that remittances transferred to Latin America by migrants that year were estimated to amount to $96 billion.
Why is it better to use Bitcoin on remittances?
The traditional money transfer model will generally charge fees for withdrawals, deposits and transfers, which may vary depending on the amount of money you send and how fast you want the transfer. Besides that, they usually convert money using their exchange rate.
The current model has become expensive and inefficient for the user.
Bitcoin remittances are faster and cheaper than the traditional model, with more flexible and secure advantages.
It also offers you full control of the transaction. Since financial institutions do not regulate Bitcoin, you are not restricted by bank hours, workdays or a limited amount of money you can transfer.
It is an entirely new movement, different from what we have seen before, but an excellent opportunity to explore new payment alternatives and to offer new solutions to your customers.
How to add Bitcoin remittances to your business
iPayTotal offers a convenient and safe money transfer solution to help you engage and attract new remitters by offering a crypto payment solution. You will provide a new, complementary payment method for remitters without changing the business process.
You can increase your revenue by simply adding a flat processing fee and a mark-up on the payment fee.
Bitcoin remittances are immediate, and funds are guaranteed by offering a simple user experience through an instant crypto payment confirmation. Recipients can receive payments in local currencies.
At iPayTotal, we are fully compliant with all international security standards, ensuring the eradication of fraud for all transactions processed. And with our blockchain analysis, each transaction is verified to assure the process’s security and legitimacy.
Contact us at iPayTotal and talk to our experts about our remittance service. You can offer this service to your clients and attract over 150 million crypto customers, from tech-savvy companies to freelancers who prefer instant and guaranteed payment in their local currency.
It is time to revolutionise your business, and iPayTotal is here to help you!