The Future of MLM: Cryptocurrency
8 months ago
Some of the top emerging MLM companies have – and they are using this rapidly growing industry to build their business. This digital currency could have huge benefits for future of MLM companies. That is why we’ve built our MLM software to accept and payout with this amazing cryptocurrency, so you can benefit from what many analysts are calling the future of currency.
What are bitcoins?
Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country's central bank or government. This form of payment first came into use in 2009 and has been growing in popularity due to its ease of international use. The 150 billion dollar cryptocurrency market has jumped over 350% just since the beginning of this year.
For the average person using cryptocurrency is as easy as:
- Get a digital wallet to store the currency.
- Use the wallet to create unique “public addresses” to receive currency.
- Transfer funds in or out of your wallet using public addresses.
What is a cryptocurrency public address? A public address is a unique string of characters used to receive cryptocurrency. Each public address has a matching private address that can be used to prove ownership of the public address. With Bitcoin the address is called a Bitcoin address. Think of it like a unique email address that people can send currency to as opposed to emails.
What are the advantages of bitcoins for network marketing companies?
No more merchant processors.
For many MLMs, acquiring a merchant processor can be a huge headache, and then mailing checks or using paycards for distributors can be time-consuming and costly. Bitcoins remove the need for a merchant processor and makes paying distributors simple and efficient.
People have bitcoins to spend.
While bitcoins and other forms are cryptocurrency are becoming increasingly popular, very few businesses have joined the digital currency revolution yet. As a result, the millions of people with cryptocurrency to spend have limited options.
Any company that accepts bitcoins with their other currency will have a significant advantage in attracting both consumers and distributors.
Several of our successful clients have begun accepting bitcoins through our ecommerce software, and also pay their distributors using the virtual currency.
Cryptocurrency is a great investment.
Accepting bitcoins or other cryptocurrency can be a great investment for any business, as the industry has grown over a whopping 800% in the last eight months alone. Investors are snapping up bitcoins for this very reason, and any business that gets on board with this revolutionary currency can see huge increases in their investment.
As a top software provider for MLM businesses, we have seen a huge increase in demand for software that uses the most popular form of digital currency, bitcoin, which is why we have upgraded our TitanMLM software to accept and payout in bitcoin.
Lower transaction fees.
Processing fees can be a huge expense for small businesses. Accepting cryptocurrency can go a long way to help mitigate the sting. By general rule, cryptocurrency has lower per transaction fees than accepting credit cards and debit cards.
With credit and debit, the typical transaction fee is at least 3 percent plus multiple hidden fees. Meanwhile, with cryptocurrency like Bitcoin, it is said that merchants can reduce their fees to less than one percent.
Security and protection of personal information is a huge concern for consumers and businesses alike. With cryptocurrency, clients and customers don’t need to provide personal financial information, therefore removing that as a concern. This works in a way similar to PayPal, which is a third party between the consumer and merchant as an extra layer of protection. Here, the third party would be sending and receiving cryptocurrency like Bitcoin.
As shopping continues to move more and more online, having a more secure way to run transactions will be crucial for companies selling online.
You get the money faster.
When accepting credit and debit card payments, business owners may not see that money for a while. Because of all the parties involved, and because they all have different rules, it could be anywhere from a couple of days to an entire week before they see the money hit their bank account. This can be incredibly frustrating when you need cash flow, have bills to pay and need to make payroll.
The good news is this usually isn’t the case with cryptocurrency. This means business owners can have faster access to cash so they can keep their business running.
Cryptocurrency eases foreign payments.
Currency exchange and foreign transaction fees are an accounting nightmare, making it more challenging for small businesses to sell on a global scale. It can also get rather expensive. While some intermediaries like PayPal have tried to alleviate this, you’re still looking at a 3.9% fee to accept foreign payments.
This is another area in which cryptocurrency is solving a problem for business owners. Because cryptocurrency like Bitcoin has no middleman and isn’t based on any country’s bank system, it removes this headache from the equation. This makes it easier for merchants to expand beyond their own borders without having to worry about the costly consequences. There’s no comparison between $0 and a 3.9% fee.
We are practicing what we preach. ApogeeINVENT also now accepts bitcoin payments in addition to other currency from our clients.
Fifty million people have bitcoins to spend. Why not make your business one of the revolutionary MLMs that accept bitcoins from the millions that are waiting to shop with it?
Be part of the billion-dollar digital currency industry. We can help. Have questions about cryptocurrency? Ask them in the comments below.