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Top 3 Benefits Of Accepting Cryptocurrency Payment In Hong Kong

By Author: Sanchit
Total Articles: 36

Over the period, bitcoin and other cryptocurrencies have gained popularity and acceptance in the international market. With its evolution and growth, the skeptics of this technology have turned into its believers. Today, cryptocurrency presents a number of investment and business opportunities in Hong Kong. Cryptocurrency’s growing popularity has also fueled its acceptance in a number of countries and businesses.

One of the most accepting places for Bitcoin and other cryptocurrencies has been Hong Kong. Unlike China, Hong Kong has not only accepted the digital currency but also helped it grow. With this wide acceptance and popularity in Hong Kong, businesses can have added benefits by accepting cryptocurrency as a payment option.

What exactly is a cryptocurrency?

A cryptocurrency can be described as virtual currency which uses cryptography for security. Its distinguishing feature is its organic nature. This means that cryptocurrency is not issued and controlled by a central authority.

Why is cryptocurrency acceptance beneficial?

Cryptocurrency’s growing popularity has changed the payment scenario around the world. From leading companies like Microsoft to Schools in the USA, a number of organizations are now accepting cryptocurrency. Moreover, small businesses like restaurants and coffee shops have also started accepting cryptocurrency.

Here are a few benefits of cryptocurrency acceptance:

Lower transaction fees: Business owners in Hong Kong accepting payments via credit cards or debit cards face additional transaction fees. When dealing with credit cards or debit cards, a business owner has to face at least 3% transaction fees with a number of other hidden charges. However, on the other hand, cryptocurrency is famous for its near to zero transaction fees. With an average transaction fee of 0.5%, cryptocurrency can become a savior for small business owners. Moreover, exchanges like PCEX offer even lower transaction fees. With PCEX, transaction fees charged is 0.05%.

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