'I'm not a silly investor': SMEs accepting cryptocurrency as payment

When Robert Tadros was asked by a client last year if he would accept cryptocurrency as payment, he was “quite taken aback”.

Being a believer in blockchain technology and a crypto-investor himself, the founder of search and social agency Impress!ve Digital was open to the request.

“It’s an online store that the client operates. He was paying for his stock in cryptocurrency. So I embraced the idea.”

Cryptocurrency client base increases

In 12 months, Impress!ve, has grown 500 per cent from $600,000 to $3.5 million in annual revenue. Tadros attributes this growth to pivoting from a being a generalist agency to specialising in SEO, SEM and Facebook advertising.

Three of Impress!ve’s clients pay in cryptocurrencies. “Our clients are on a monthly retainer over a contractual period of generally six to 12 months and they make the monthly payments in full – in cryptocurrencies,” he says.

Impress!ve accepts payment in Ripple, bitcoin, litecoin and ethereum.

Tadros says: “I had to jump through hoops with my accountant to get this over the line. Given that I am a crypto-trader for the last several years, I was willing to take the risks. I’m not a silly investor. Our cryptocurrency sits in a dedicated wallet which was set up for the business. And I understand the volatility of cryptocurrency, but eventually it does even out.”

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Source: ‘I’m not a silly investor’: SMEs accepting cryptocurrency as payment – Sydney Morning Herald