Benefits of Integrating Bitcoin in MLM Software
Now days when it comes to cryptocurrency usage the Bitcoin stands at world`s first successful decentralized cryptocurrency. Transferred directly from end to end and free from legal regulation, Bitcoins represent a modern, networked approach to finance and there is no need for traditional banks, and they also provide a much simpler way to make payments transparent. The underlying technical implementation, backed by powerful security protocols and cryptography, ensures that transactions are secure and verified.
A bitcoin software allows people to generate digital currency without the use of any type of third-party agent. Once generated, these bitcoin`s can be stored in the bitcoin wallets like Coinbase or Blockchain info. All is you need to set them up with your name, Social Security Number, email, without providing other sensitive data you might not want to pass along. The bitcoin comes with a unique address for you to send and receive payments with bitcoin. This means you can remain totally anonymous Individuals running the Bitcoin peer-to-peer application are assigned a Bitcoin address based on their computer`s public key. Acquired Bitcoins can be stored on an individual`s computer in an encrypted digital wallet.
Bitcoin in MLM Industry
The cryptocurrency mechanism has transformed the MLM industry. It modified the approaches of MLM business from a traditional trading centre to the contemporary e-commerce relevant network, and has also reduced the complexities of financial frauds in an MLM business. MLM Businesses who have adopted Bitcoin are getting benefited in following ways
Bitcoin payments happen instantly as they are transferred over the internet, so the funds are in your account or wallet are available for your use as soon as you receive the payment.
No Risk of Charge-backs The moment you receive your bitcoin, the digital transfer of value is immediate and final, without the risk of chargebacks. Once Bitcoins are sent, the transaction cannot be reversed. Since the ownership address of Bitcoins will be changed to the new owner, once it is changed, it is impossible to revert & only the new owner has the associated private key, only he/she can change ownership of the coins.
Bitcoin payments carry no risk of the identity theft or payment fraud that is common to online businesses, so both you and your customers get security benefits. With Bitcoin, your customers can shop your store or purchase your services without having to enter any sensitive financial information that hackers can use to access your customers` bank accounts. Bitcoins` ownership address can only be changed by the owner. No one can steal Bitcoins unless they have physical access to a user`s computer, and they send the Bitcoins to their account.
Reductions in the PCI DSS costs that ensure you are in compliance with security measures for accepting credit cards in your business.
Flexible & decentralized nature of Bitcoin makes its use possible with all leading business domains. It is ensured by various factors, first with the use of a digital currency there are no boundaries as the same system is applicable globally. The flexible nature is also ensured by fare-free transaction system through which it is possible to speed-up a transaction only by paying a minimal cost.
No Transaction Costs as when a Bitcoin is transferred in a payment or trade, it goes directly from sender to receiver without the need for a middleman which means a direct reduction in transaction fees. Unlike credit cards, Bitcoin can be used for free or sometimes for a very low fee. Since there is no middleman, there are no authorizations and fees required and this improves profit margins sales. Essentially, by using bitcoins users will be contributing to the network, and thus sharing the burden of authorizing transactions. Sharing this work greatly reduces transaction costs, and thus makes transaction costs negligible.
No Third-Party Seizure as there are multiple redundant copies of the transactions database, no one can seize Bitcoins. The most someone can do is force the user, by other means, to send the Bitcoins to someone else. This means that governments can`t freeze someone`s wealth, and thus users of Bitcoins will have complete freedom to do anything they want with their money.
No tracking possible unless users publicize their wallet addresses publicly, no one can trace transactions back to them. No one, other than the wallet owners, will know how many Bitcoins they have. Even if the wallet address was publicized, a new wallet address can be easily generated. This greatly increases privacy when compared to traditional currency systems, where third parties potentially have access to personal financial data.
Bitcoin can help expand your international audience because accepting your customers` Bitcoin does not require exchanging to a local currency, and it does not come with the hassle of processing foreign credit cards and If your company already relies on international business, consider how instant, borderless transactions can enhance your customers` experience. Either US dollar or Europian euro, Bitcoin is quickly becoming recognized as the currency of the Internet. Because Bitcoin is borderless by design, you can accept payment from someone in China just as easily as from someone sitting in the same room. You can enhance your customers` shopping experiences are quick and seamless no matter where they are in the world. And yes they`ll remember you for that.
No Taxes because there is no way for a third party to intercept transactions of Bitcoins, and therefore there is no viable way to implement a Bitcoin taxation system.
Why you should Integrate Bitcoin to MLM
The number of MLM domain businesses accepting Bitcoins worldwide is growing rapidly as more of the customers are realizing its benefits. Implementing & accepting Bitcoins at your business can enable instant payments, eliminate the risk of fraud, open you to an international market and reduce the costs associated with simply accepting your customers` money, the question is no longer why or how, but when will you begin accepting Bitcoins? Many of your competitors are choosing today. Will you?
Are looking for a company to integrate this marvelous technological fintech approach? We Bitcoin & crypto-currency services provider company Finoserv Technologies have in-depth experience for creating Bitcoin services for businesses. We are one of the premier Bitcoin Solution provider company and have a long list of credentials and portfolio ranging from Network Marketing & MLM business to e-commerce solutions for crypto-currency and blockchain services. If you are on the lookout for a vendor to help you leverage your MLM business through bitcoin services, then do connect with Finoserv Technologies. Our proficient Fintech & blockchain team experienced in developing & implementing Cryptocurrency & Blockchain servies will help you get the best solution for your company.
Author : Abhinav Trivedi