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In 2015 bitcoin finally made its mark: More than 100,000 businesses, including industry giants like Microsoft, and Dell, accepted it.But, what exactly is this mysterious «cryptocurrency» everyone has been talking about for years?

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Here are other reasons to consider bitcoin: If your 2 to 3 percent merchant transaction fees are a drain on your cash flow, then bitcoin has you covered.Bitcoin transactions typically cost between 1 percent and zero. You can send or accept bitcoins as payments with no fees attached.Since bitcoin doesn’t require a bank to verify each transaction, you don’t have to sacrifice your own revenue to the financial institutions that own your business loans or credit cards.However, you’ll often have the option to pay an extremely small transaction fee, which can speed up your processing.

Maybe those fees aren’t bothering you, but waiting around for bank account does.

Because there’s no centralized institution that checks every bitcoin transaction — its underlying technology, blockchain, does it for you — there’s no need to wait nearly as long to receive your payment.



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