3 reasons why Irish businesses should embrace cryptocurrency

Cryptocurrency is now recognised around the world and across Ireland.

Cryptocurrency is fast becoming one of the top investments of this century, and it is showing no sign of slowing down any time soon. With that in mind, here are three reasons why Irish businesses should embrace cryptocurrency.

People are beginning to wonder whether cryptocurrency is the way forward for businesses. It is thought that in a matter of years, businesses will be able to use cryptocurrency to trade, giving them more access to a more extensive customer portfolio.

If you are a business owner in Ireland and wondering whether your business should embrace cryptocurrency, you’ve certainly come to the right place. Keep reading to hear why we think Irish businesses should embrace cryptocurrencies in 2021.

3. Future-proofs your business – thinking for the future

Planning for the future is one of the reasons why Irish businesses should embrace cryptocurrency.
Credit: Pixabay / JimBear

At the moment, not an awful lot is known about cryptocurrency (Bitcoin is a good example); this is why business owners can be quite intimidated by the talk of it becoming a popular trading currency.

However, if businesses in Ireland do begin accepting cryptocurrency, they might notice that it future-proofs their business. Small and big businesses alike that have already embraced some digital currencies have found that they feel more prepared for the future than ever before.

As a business owner, you have no clue what the future holds, and you can only do so much to protect your business from any unforeseen circumstances.

More businesses will end up adopting cryptocurrency, so you should stay up to date with the competition. Moreover, with the fact that crypto is looking very popular in the future, embracing it now will only prepare you for the changes heading your way.

Therefore, preparing for the future is one of the main reasons why Irish businesses should embrace cryptocurrency.

2. More time and cost-efficient – avoiding fees

Cryptocurrency is more time and cost-efficient.
Credit: Pixabay / WorldSpectrum

Next up on our list of reasons why Irish businesses should embrace cryptocurrency is its cost-efficiency.

Experts are suggesting that cryptocurrency is a lot more time and cost-efficient for businesses, which is why you should consider embracing it now.

Online platforms such as GGPoker and many other websites accept various payment methods for their customers. At times, however, these payment methods incur a lot of fees when it comes to online transactions.

This is why experts believe that business owners should give their customers a choice when at the checkout on their website or in their store.

Using cryptocurrency will save them the extra fees that come with using third parties to accept digital payments, and you’ll save yourself the time associated with bank transfers and so on.

Investments in cryptocurrency in Ireland have skyrocketed over the past few years. So, it is no surprise that people want to start trading with it. It might seem odd now to think that people will be opting to pay with cryptocurrency at the store. But this might be sooner than you think.

1. Improves the customer experience – smoother transactions

Improving customer experience is one of the reasons why Irish businesses should embrace cryptocurrency.
Credit: Pixabay / mohamed_hassan

As an Irish business owner, you will know that one of your priorities should be improving the customer experience.

As we mentioned previously , people are investing in cryptocurrency and now want to use it as a method of transacting. Thus, giving your customers more payment options will increase the likelihood of them completing their purchase.

With this, it is up to you to stay up to date with your market and provide the services to enhance the customer experience.

On top of this, embracing cryptocurrency will only allow you to expand your customer base even further. Crypto investors and users are happy to hear that more and more businesses are beginning to accept the currency as a payment method, so you’ll attract them straight away.

Plus, as it is a new thing, it will no doubt have a lot of attention in the upcoming years. Thus, you’ll attract more customers to your business.

Consider all the reasons why Irish businesses should embrace cryptocurrency. Then going forward, why not consider using this new form of payment in your business this year?

This is not financial advice. You should do your own research before investing in anything, including cryptocurrencies.