Hoboken, NJ – (Date) – Although the value of digital currencies tends to fluctuate wildly, many businesses seem undeterred by the volatility. Alexander Rekeda, a seasoned crypto investor, recently indicated that tens of thousands of companies accept Bitcoin payments, resulting in an ever-increasing number of daily transactions in the United States alone.
Small and large enterprises use cryptos for transactional and operational purposes. This trend has left many people wondering what it’s in it for businesses.
Rekeda believes that companies understand the need to manage the risks that come with volatility. When handled correctly, cryptos’ volatility can become a source of huge profits. The likes of PayPal, Mastercard, Starbucks, AT&T, Microsoft, Tesla, and other notable entities have embraced cryptocurrencies. They’re demonstrating that the corporate world can work with digital currencies sustainably.
How can businesses benefit
Alexander Rekeda weighed in on the benefits of cryptos for companies by outlining some potential advantages of embracing the currencies. One of the key benefits he singled out is increasing the number of customers. Over one billion people own varying amounts of digital currencies. This figure creates a viable business case for opening up to new possibilities.
Another key reason for corporates to join the crusade is that cryptos have shorter payment settlement cycles than other payment methods. In addition, the transaction fees are much lower. On the other hand, Rekeda says adopting digital money is a practical way to attract affluent customers. It’s no secret that high-net-worth individuals invest in cryptos in huge numbers. Some wealthy people owe their success to Bitcoin and Ethereum.
Meanwhile, people looking for transparent payment options prefer dealing with companies accepting digital currencies. Alexander also noted that accepting cryptos makes it easier for companies to attract customers under 50. This demographic group is more open to digital money than people over 50. Enthusiasm for cryptocurrencies is strongest in the 18 to 35 age group. So, Rekeda says it makes sense to offer new payment methods if a company targets this demographic.
Fueling new business opportunities
As analysts expect the digital currency market to reach $2.2 billion by 2026, companies can tap into wide-ranging opportunities that come with this growth. The most progressive businesses are already coming up with innovative offerings. Doing so lets companies stake a substantial claim in the burgeoning market.
Although there’s a need to bring the right talent and tools to take advantage of crypto business opportunities, Alexander believes the rewards can be sweet and worthwhile. Businesses should navigate technology complexities, consumer paranoia, and compliance matters.
The opportunities extend to the hospitality industry. Because of this, some hotels like Pavilions accept Ethereum, Bitcoins, and other cryptos. Guests can book accommodation with a currency of their choice, depending on location. Rekeda believes this approach provides a practical way for hoteliers to tap into crossover markets. Many big spenders are active in the digital currency market.
About Alexander Rekeda
As an experienced crypto investor at a New Jersey firm, Rekeda understands the importance of cryptos in some business sectors. He’s also heavily involved in humanitarian work. In his spare time, he explores different destinations globally.