Cryptocurrency

Here’s why your Online Store Should Support Bitcoin Payments via Speed

Introduction

While operating an online store, the most crucial part is streamlining the flow of payments. As fiat is low on technological advancement, merchants try to incorporate more globally accepted methods.

In this way, Bitcoin payments via the Speed app came in handy. All the advanced features that Speed has for your eCommerce store make it a reliable solution to expand your store globally.

In this blog, get a detailed analysis of why your online store should support Bitcoin payments using the Speed app.

7 Reasons: Why should your online store should support Bitcoin payments via Speed?

In an era where many online stores are being opened, providing an additional payment method makes you stand out of the crowd. Speed is the leading Bitcoin payment processor, and it helps businesses worldwide. There are many reasons to support Bitcoin payments, but with Speed, you get everything you need to keep your business.

Let’s dig into its details and understand the ease of usability that Speed brings to the Bitcoin ecosystem.

Low transaction fee

Every Bitcoin payment method that operates over a store has some predefined transaction fee. These fees are not affordable to many merchants who transact across borders. Speed has the lowest transaction charges and is bifurcated for merchants to get hold of where their money goes.

0% fee up to 0.5 BTC.
A 1% transaction fee is applicable above 0.5 BTC in the business sector.
There are custom fee charges for accepting more than 10 BTC per month.

These small transaction fees are affordable to most merchants as there are varied plans, when compared to different platforms & other payment methods – accepting Bitcoin using Speed saves you a lot of transaction fees, and helps you to reach a larger audience.

Worldwide expansion

With Speed, online stores don’t have to maintain different wallets to operate in multiple countries. Speed wallet can be used in any country to conduct BTC transactions globally. Businesses can enhance their sales and targets to the world. The openness to the international market allows you to sell your products without any exchange rate or conversion fee.

People who don’t have access to banking institutions can also conduct transactions and keep their businesses running without being a part of the traditional financial system. Speed app has multiple merchant tools for you to utilize and improve the quality of service for your customers.

Operate both On-chain and Lightning

Initially, Bitcoin payments were only operable as on-chain transactions, but with the layer 2 solution, the experience has changed as the transfers have gotten faster. Using the Speed Bitcoin payment processor, merchants and individuals can now make on-chain or lightning transactions.

Both of these transaction methods are secure by blockchain technology, and the only difference they possess is transaction processing speed. Speed wallet also works on both on-chain and lightning networks, which makes it convenient for the merchants to operate.

No frauds and chargebacks

In e-commerce stores, identity theft is a reality, and many fraudulent activities use conventional payment methods. This leads the banks to cancel payments and reimburse the amount to customers, causing profound business losses.

Bitcoin payments are one way as they are associated with the blockchain; these payments are non-refundable and can not be reversed. This means the merchant gets its money once the blockchain approves the transaction. No one can falsely claim the chargebacks or conduct any fraudulent activities. In case of any claim of returns, customers have to contact the merchant or the associated business.

Works 24/7, unlike banks

With banks, there are certain limitations like a time limit or holidays, while with Bitcoin, you will get the payments in real-time. The customer paying at your online store also receives an instant settlement invoice. This keeps them assured about the money they have spent; both Speed Web and Speed Wallet are operable 24/7.

With Speed Wallet, you can buy anything anytime from anywhere without being bothered about the availability of banking services or financial institutions. As a digital wallet, customers and merchants can access Speed Wallet from their mobile devices and conduct the transaction conveniently.

Enhanced possibilities for investments

For future development, Bitcoin is an excellent choice of investment. You can buy gold with Bitcoin or other assets like real estate, cars, and commercial properties. Many governments and multinational firms are currently investing in Bitcoin and its initiatives. This came out as an opportunity for growth for the potential investors.

Users can utilize Bitcoin to get other digital currencies or keep them and wait for their prices to go high and sell them. Some businesses also invest in charities and non-profit organizations from their Bitcoin sales.

The safest form of technology

The primary issue faced by e-commerce stores is identity theft; this generates a lot of issues in profit margins and is a real problem for the customers, too. With Speed Wallet, you get the safety and security of cryptography with the support of blockchain systems. It is the most secure way to exchange information; customers can have entirely secured payments and fully control their assets with our wallet app.

All transactions remain private between the sender and receiver; hence, transacting Bitcoin with Speed wallet makes it the safest technology for merchants and businesses.

Why are online stores considering Bitcoins?

As it slowly and steadily becomes a part of the mainstream, specific reasons from a market perspective make the merchants consider Bitcoin for their eCommerce store.

Let’s get to more details about them:

Consumer adoption is on the rise

While some people are skeptical about Bitcoin and its working, most consumers quickly adopt this digital currency. As per the consumer crypto survey, 48% of U.S. consumers invest their money in Bitcoin in multiple forms.

When seen in terms of global consumers, there are around 21% of active owners who send and receive Bitcoin or buy goods, as per the 2021 Visa study.

Hence, even if a small sector of the population is participating in the Bitcoin marketplace, there is a considerable amount of awareness and curiosity amongst the users. If we see the history of Bitcoin shift from passive to active users, it happens at the drop of a dime.

Neck-to-neck market competition

Many leading e-commerce stores, platforms, and payment systems have already been on board. As they are performing well in the market, it is hard for others to implement their dominance. This leads to intense competition for more players to join the game and be a part of this global market.

Faster growth of business

When any customer comes to an eCommerce website, their main goal is to get faster services in terms of payments. This falls in the favor of Bitcoin as all the transactions proceed immediately or near an instant.

From business owners to merchants, looking at things from a cash flow perspective makes it clear that faster access to funds is an impressive feature.

The international market is opening up

So many demographic groups are cutting edge in their field of business and interested in expanding their eCommerce store to global levels. The only thing that keeps them from exploring new horizons is the charges imposed by the international market over any general transaction.

But with the revolutionized digital age, these foreign markets are opening up and accepting Bitcoin for local and international trade. This makes the merchant consider using Bitcoin to benefit their store sales.

Conclusion

These reasons have clarified that the usability of Bitcoin provides profit to the merchants, and Speed has all those qualities that fulfill the needs of users. Their search for the best Bitcoin payment processor can definitely end.

Stores worldwide are adding various payment methods to enhance their growth, amongst which receiving payments in Bitcoin has brought out many benefits and monetary expansion to online stores. As a form of e-commerce payment, Bitcoin simplifies the transfer of funds from different places without including any third-party financial institutions.

Cryptocurrency

7 Main Benefits of Software that Deals with Crypto Tax, What It Is, How It Works?

As we know more people use digital money. It is hard to keep track of it. We need a report on how much you’ve made or lost for taxes. Crypto tax software is a special tool. It is made to make this easier. It helps you keep track of how much money you’ve made or lost from digital money. This also figures out how much tax you need to pay. It also tells you the rules you need to follow about taxes. Over all this software helps you do your taxes right.

How Does Crypto Tax Software Work?

Crypto tax software connects different places where you keep and trade your digital money. Here’s a simple way to understand.

Step 1. Bring in Your Data: People connect their digital money accounts to the software. The software collects details from all transactions. It can calculate things like buying and selling. It also deals with trading and moving money between wallets. This happens by linking accounts. There are special connections with all these transactions.

Step 2. Put It All Together: The software puts together all the information from different places. This makes sure nothing is missed. Everything is clear about what happened with the digital money.

Step 3. Sort Out the Transactions: It organizes transactions into groups. For example the ones that need to be taxed and the ones that don’t. The software uses the right tax rules for each group. This helps figure out how much tax is owed.

Step 4. Count the Gains and Losses: It can compare how much was spent to buy digital money with how much was made selling it. This software figures out if there was a gain or a loss for each transaction. This is really important to know how much tax needs to be paid.

Step 5. Make Tax Reports: The software creates detailed reports for taxes. For example the Form 8949 and Schedule D for people in the U.S. These reports show all the transactions. These all need to be taxed. This makes it easy to show tax authorities exactly what happened with the digital money.

7 Main Benefits of Using Crypto Tax Software

Accurate and Quick: Crypto tax software helps make sure your tax calculations are correct. It can lead to mistakes if you do it by hand lead to mistakes. The software does this automatically. So there are fewer mistakes. This is important when IRS watch crypto transactions closely.

Saves Time: Calculating crypto taxes by hand takes a lot of time. The software collects and organizes all the transactions for you. So you can do other things. This is really helpful for busy people. This saves the time that they would spend keeping records.

Easy Reporting: Tax reports can be hard without the right tools. Crypto tax software makes it easy. It can clear and simple reports that follow tax rules. You can use these reports with tax software. Or you can share them with tax experts. This is especially useful during tax season. In this you usually need everything to be correct and fast.

Following Tax Rules: Tax rules for cryptocurrencies keep changing. Crypto tax software stays updated with the latest rules. Make sure you follow them. This helps you avoid penalties and fines. It also saves you from making big mistakes. This software helps you manage your taxes confidently.

Help with Audits: During audit you need to have an organized record of all your crypto transactions. Crypto tax software keeps detailed records. This makes it easier to answer questions and give information to tax authorities. This support can be really helpful. It gives you a great peace of mind.

Supports Many Exchanges and Wallets: People who use crypto may have accounts in different places. Crypto tax software connects with many exchanges and wallets. It puts all transaction data in one place. This means you don’t have to enter data by hand. Great right? And no transaction is missed. It gives a clear view of all your crypto activities.

Tax Saving Tips: Well some advanced crypto tax software helps you find ways to save on taxes. It can be selling assets at a loss to reduce the tax you owe. These features can help you save a lot on taxes. So this software is a worth investment.

Shortly,

Keeping track of cryptocurrency taxes is really important for investors and traders. Crypto tax software helps make this job easier. It makes sure everything is accurate and follows the rules. It does this by automatic features. It gathers, organizes, and reports your transactions. This saves you a lot of time and effort.

The software also helps during audits. It also works with different exchanges. Moreover it gives you tips on saving money on taxes. This makes it a must-have tool for anyone using cryptocurrency. The right software helps you handle your crypto taxes confidently. With this you can make doing your taxes simpler. In your spare time you can focus on making the most of your investments!

Cryptocurrency

The Dogecoin Revolution: How a Joke Became a Serious Cryptocurrency

Dogecoin, initially created as a joke, has evolved into a significant player in the cryptocurrency market. What began as a lighthearted response to the burgeoning cryptocurrency landscape has transformed into a digital asset with a dedicated community and substantial market value. This article delves into Dogecoin’s journey from a meme to a serious cryptocurrency, exploring its origins, community impact, technological features, and cultural significance. For those looking to understand the intricacies of this transformation, seeking guidance from an investment education firm like BitAMG can provide valuable insights.

The Genesis of Dogecoin

Dogecoin was launched on December 6, 2013, by software engineers Billy Markus and Jackson Palmer. Markus, an IBM engineer, and Palmer, an Adobe product manager, sought to create a fun and more approachable cryptocurrency. They chose the Shiba Inu dog from the popular “Doge” meme as the logo, emphasizing the coin’s humorous nature. Unlike Bitcoin, which was seen as a complex and serious investment, Dogecoin aimed to be more accessible and user-friendly.

Initially, Dogecoin was not intended to compete with Bitcoin or other established cryptocurrencies. Its primary purpose was to provide a light-hearted alternative, fostering an inclusive and engaging environment for newcomers to the crypto world.

The Role of Community in Dogecoin’s Development

Dogecoin’s success is largely attributed to its vibrant and dedicated community. The Dogecoin community is known for its strong sense of camaraderie and enthusiasm, which has played a crucial role in the coin’s development and adoption.

One notable example of community-driven initiatives is the Dogecoin sponsorship of the Jamaican bobsled team in 2014, raising $50,000 to help the team compete in the Sochi Winter Olympics. Another example is the “Doge4Water” campaign, which raised $30,000 to build clean water wells in Kenya. These initiatives highlight the community’s commitment to charitable causes and the power of collective action.

Dogecoin’s Unique Features and Technology

Dogecoin’s technology, while based on the same principles as other cryptocurrencies, has distinct characteristics that set it apart. Dogecoin is a decentralized, peer-to-peer digital currency that uses the Scrypt algorithm, unlike Bitcoin’s SHA-256. This allows for faster transaction times and lower fees.

One of Dogecoin’s most appealing features is its inflationary supply model. Unlike Bitcoin, which has a capped supply of 21 million coins, Dogecoin has no maximum supply limit. This ensures continuous mining rewards and a steady supply of new coins, encouraging spending and circulation rather than hoarding.

Additionally, Dogecoin’s block time is only one minute, compared to Bitcoin’s ten minutes. This results in quicker transaction confirmations, making Dogecoin more suitable for everyday transactions.

Dogecoin’s Rise to Prominence

Several key events have propelled Dogecoin into the mainstream spotlight. One of the most significant factors has been the endorsement and support from high-profile celebrities and influencers, most notably Elon Musk. Musk’s tweets and public statements about Dogecoin have often led to significant price surges and increased public interest.

In 2021, Dogecoin’s market capitalization soared, reaching an all-time high of over $88 billion in May. This rise was fueled by a combination of social media hype, celebrity endorsements, and increased trading activity on platforms like Robinhood and Coinbase.

The widespread media coverage and community-driven marketing efforts have also played a crucial role in Dogecoin’s rise. The “Doge Day” event on April 20, 2021, aimed to push Dogecoin’s price to new heights, demonstrating the power of collective action and social media influence.

The Transition to Seriousness

Dogecoin’s transition from a joke to a serious cryptocurrency can be attributed to several factors. Firstly, the coin’s growing adoption and integration into mainstream financial services have legitimized its use as a viable digital asset. Companies like Newegg, the Dallas Mavericks, and Kronos have started accepting Dogecoin as a form of payment, showcasing its utility in real-world transactions.

Secondly, the increasing attention from institutional investors has added credibility to Dogecoin. While initially dismissed as a speculative asset, the involvement of major investment firms and the listing on prominent cryptocurrency exchanges have validated Dogecoin’s potential as an investment.

Lastly, the community’s efforts to promote charitable causes and positive social impact have reshaped Dogecoin’s image. The coin is no longer seen solely as a meme but as a tool for philanthropy and community building.

Dogecoin’s Impact on Cryptocurrency Culture

Dogecoin’s influence extends beyond its market value; it has significantly impacted the broader cryptocurrency culture. Its success has challenged the notion that a cryptocurrency must be serious or technologically superior to succeed. Dogecoin’s rise has demonstrated the importance of community engagement, accessibility, and fun in driving adoption.

Moreover, Dogecoin has paved the way for other meme-based and community-driven cryptocurrencies, such as Shiba Inu (SHIB) and SafeMoon. These projects have followed in Dogecoin’s footsteps, leveraging humor and social media to build their communities and gain traction.

Dogecoin’s philanthropic initiatives have also inspired other cryptocurrency projects to focus on charitable giving and social impact. The emphasis on using cryptocurrency for good has resonated with many and has helped to foster a more positive and inclusive crypto culture.

Conclusion

Dogecoin’s journey from a joke to a serious cryptocurrency is a testament to the power of community, innovation, and accessibility. What started as a lighthearted experiment has evolved into a significant player in the digital currency landscape, challenging traditional perceptions of value and utility. As Dogecoin continues to gain traction and legitimacy, its story serves as a reminder of the diverse and dynamic nature of the cryptocurrency world. Whether as a tool for charitable causes, a medium of exchange, or a speculative investment, Dogecoin has carved out its unique niche, proving that sometimes, even the most unlikely contenders can make a lasting impact.

Cryptocurrency

Ethereum Essentials: Essential Tips for Successful Crypto Investment

Ethereum, the second-largest cryptocurrency by way of market capitalization, has garnered big interest and hobby from buyers worldwide. However, navigating the Ethereum marketplace requires a stable information of its essentials and strategic funding technique. In this text, we’re going to delve into the vital suggestions for successful crypto investment in Ethereum. Go https://ethereum-code.me now and learn some game changing tips and tricks to make solid investment decisions. Connect with an educational expert right now!

Understand Ethereum’s Technology and Ecosystem:

Before diving into Ethereum investment, it is vital to understand the underlying generation and the atmosphere it supports. Ethereum is not only a digital foreign money, but a decentralized platform that enables builders to build and install smart contracts and decentralized programs (DApps). Understanding Ethereum’s technical fundamentals, consisting of its consensus mechanism (presently transitioning from Proof of Work to Proof of Stake with Ethereum 2.0), scalability answers, and upcoming upgrades, such as Ethereum 2.Zero, is vital for making knowledgeable funding decisions.

Diversify Your Portfolio:

Diversification is a key principle of a hit investment, and the equal applies to making an investment in Ethereum. While Ethereum holds enormous capability for growth, it is critical now not to put all your eggs in a single basket. Consider diversifying your cryptocurrency portfolio across more than one assets, consisting of Bitcoin, other primary cryptocurrencies, and promising altcoins. Diversification facilitates spread hazard and decreases the effect of volatility in any unmarried asset on your standard funding portfolio.

Stay Informed About Market Trends and Developments:

The cryptocurrency market is notably dynamic and causes rapid modifications in developments and tendencies. Staying knowledgeable approximately marketplace traits, news, and traits in the Ethereum surroundings is essential for making knowledgeable funding choices. Follow reliable cryptocurrency news assets, join Ethereum-centered boards and groups, and engage with industry experts to live updated on the ultra-modern tendencies, upcoming enhancements, partnerships, and regulatory adjustments that could affect Ethereum’s rate and market dynamics.

Keep an Eye on Network Activity and Adoption:

Monitoring Ethereum’s community hobby and adoption metrics can offer valuable insights into its growth and ability rate moves. Metrics along with daily transaction extent, lively addresses, decentralized finance (DeFi) hobby, and developer pastime at the Ethereum blockchain can help gauge the community’s health and adoption developments. Increasing community interest and adoption imply developing demand and application for Ethereum, which may additionally definitely impact its price over the years.

Consider Long-Term Investment:

While short-term trading and hypotheses can yield income, don’t forget adopting a long-time period investment method for Ethereum. Ethereum’s capacity for long-time period growth is supported by its robust era, massive adoption, and increasing atmosphere of DApps and decentralized finance (DeFi) tasks. By taking a long-time period attitude and preserving onto your Ethereum funding via marketplace fluctuations, you can enjoy the capacity appreciation in fee over time and capitalize at the increase of the Ethereum environment.

Practice Risk Management:

As with any investment, it’s vital to practice effective hazard management while investing in Ethereum. Set clean investment goals, set up chance tolerance levels, and diversify your investment portfolio to mitigate capacity losses. Additionally, consider imposing chance management strategies which includes setting prevent-loss orders, carrying out thorough studies before making funding decisions, and fending off making an investment more than you could have the funds for to lose.

Conclusion:

Investing in Ethereum gives huge opportunities for investors looking for exposure to the cryptocurrency market. By information Ethereum’s technology and ecosystem, diversifying your portfolio, staying knowledgeable about market tendencies and developments, tracking network hobby and adoption, considering long-term funding, and working towards risk management, you may function yourself for a hit crypto investment in Ethereum. As Ethereum keeps adapting and innovating, it stays a cornerstone of the cryptocurrency atmosphere, providing potential for lengthy-term growth and cost creation for traders.