Start a Bitcoin Business
Another way to invest bitcoins is by accepting bitcoins with one of your current
businesses or by starting a new Bitcoin business. BitPay offers a complete set of
merchant tools to help businesses accept bitcoins . Three 16 business that accept
bitcoins are the Bitcoin Magazine and my favorite Bees Brothers which sells delicious
honey harvested by some young teen brothers. You may not have heard the story of
Jim, Donna and Noah . Jim had sold 17 his business and began traveling the world.
Donna, his sister, would occasionally send him money via Western Union. During one
transaction she was arbitrarily placed on the Terrorist Watch List for attempting
to send him money. Noah, Donna’s 20-
Bitcoin reduces costs in money, time and privacy. With extremely low transaction fees and no risk of chargebacks a merchant can recognize a higher proﬁt from transactions. Bitcoin payments can be made extremely quickly using mobile apps. For experienced users this can take about the same amount or less than using cash or getting a credit or debit card authorization. In terms of privacy, nothing but cash compares to Bitcoin. As a result, your customers eliminate the risk of identity theft and potential political persecution. Thus, if a merchant fails to accept Bitcoin then customers have signiﬁcant reasons to question the integrity and honesty of the merchant. After all, why do they want to see my name, credit card number, government issued ID and know the billing address? Of course, every jurisdiction has different laws that would be applicable so be sure to understand and follow those which are applicable.