Cryptocurrencies add value and a number of advantages to any business model, ranging from easy cross-border transactions to incrementing the yield of your working capital. Not to mention that their use will better prepare you for the newest technology advancements that are being constructed over layers of blockchain.
But why do startups struggle with the decision on how to add them to their business models?
Skeptics may claim “we are an online artisans pottery marketplace! What does bitcoin bring to the table?!”
Adding crypto payments and operations to your daily life should be a decision as simple as opening a traditional fiat bank account. It ‘s money; learn how to use it.
In addition, it will help the startup be at the tech forefront, generating market positioning and promoting internal knowledge.
So, to get you started, here are 3 simple ways to add crypto operations to your company:
This is the most simple and straightforward benefit. Receiving payments in crypto boost revenue by attracting new customers and allowing easier and cheaper international transactions, increasing your average ticket and decreasing commissions of middle men like banks and credit card companies.
Also, it will allow the company to expand internationally, since cross border transactions won’t be a problem anymore.
Inflation is unfortunately decreasing the value of your working capital by the minute. Large corporations hedge this risk by investing it in the traditional capital markets. Startups, on the other hand, are finding crypto as a place of protection.
Most crypto wallets and exchanges offer good yields for holders, even if it is stable coins with minimum risks. Since blockchain is such a fast technology, the instant you need to spend the money it can go right back into your bank account.
Whether in debt or equity, there are excellent opportunities. In the case of debt, cryptocurrencies are another source of short and long term credit. Using tokens as collateral you can access debt at single-digit rates in a matter of seconds.
Regarding equity, DeFi and DAOs are hacking the venture capital scene by allowing anyone to become an investor with a substantially lower amount of money that is usually required in the fiat world.
Furthermore, startups are raising capital by generating pools of investors and issuing tokens in return for their capital, opening the possibility to almost anyone to invest in the company.
The incorporation of crypto in the day to day of your startup will only generate benefits and new opportunities at the investment level, and, in addition, join a trend with exponential growth. How exciting is that?!