Crypto payments slash transaction costs

Cryptocurrency is a lucrative payments option for slashing transaction fees and building a longer-term business savings fund, a Melbourne business owner has claimed.

Robert Tadros, founder of Melbourne digital media agency Impress!ve, which has 19 staff and a revenue of $3.5 million in its first two years, began accepting crypto payments for his services around seven months ago.

The business accepts four of the main digital currencies: Bitcoin, Ethereum, Litecoin and Ripple.

“A client who is in the online retail space reached out and said: ‘Rob, I buy a lot of my furniture from Overstocked.com, they accept bitcoin as payment; have you considered offering your service for crypto?’,” Mr Tadros told My Business.

“Here I am, I’ve been trading cryptocurrency since 2016 myself on a personal level, and I said: ‘Mate, I haven’t thought about it, let me have a think and come back to you’.

“I sat down with my accountant, bookkeepers etc, had to jump through hoops to get them to agree to it, but we finally did, opened up a digital wallet and then we could start accepting digital currency.”

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Source: Crypto payments slash transaction costs – MyBusiness