Lately, it seems like bitcoin, the digital currency, has become more and more popular. Various types of small businesses, from website design companies to flower shops, have started accepting it. But, is it a good option for all small businesses? I think it depends on the nature of your business. Some e-commerce businesses have started accepting bitcoins because they sell their products all over the country or all over the world and accepting bitcoins means they can appeal to a larger market. Bitcoin processors also offer lower fees than traditional credit card processors or Paypal, so companies that do a lot of online transactions may find accepting the currency to be beneficial. Some small business owners also feel that accepting the currency helps them stand out from the crowd.
But for now, only a small percentage of consumers use bitcoins and it’s hard to predict whether their popularity will increase or decrease in the future. Bitcoins are also largely unregulated and it’s hard to predict if and when they will become more regulated. For now, we may just have to wait and see.