TL;DR: Executive Editor Hayden Otto issues a challenge: it’s time to use cryptocurrency as a currency. During a leisurely stroll around Brisbane, he details how merchants in his native Australia are turning away from multiple coin point-of-sale (PoS) systems, and settling on a single Bitcoin Cash (BCH) application, easily downloadable and free, saving staff training time and money while encouraging a better overall customer experience.
Merchants in Australia Dropping Multi-Coin PoS
With all cryptocurrencies lumped together, merchants on the lookout for new payment methods can be excused for being confused. The soup of letters making up ticker symbols can be enough to drive anyone mad, and when a business is attempting to be efficient and streamlined, it can also be costly — and they haven’t even realized most of the cryptocurrency offerings are actually not currencies at all.
Hardware investment, accounting regulation conformity, and training staff to accept cryptocurrencies are all major frictions, costs for merchants. Those baked-in burdens with multiple coin PoS systems are routine nightmares, especially after the realization most cryptocurrencies won’t ever be used. Wasted staff training time, inevitable staff turnover create new headaches along the way.
Instead, Australian merchants have found a cryptocurrency community with an emphasis on currency, spending, in Bitcoin Cash. Rather than having to sift through a bunch of dead end non-options, BCH is becoming a ready alternative to credit card usage. Traditional credit cards can swipe 3% from a transaction in fees, and merchants are noticing that money can be better put use within their establishments rather than Visa or Mastercard coffers.
The BCH PoS application, Bitcoin Cash Register, is an app available across platforms: iOS, Google Play, and is free to download. Merchants save time in not having to stumble through multiple cryptocurrencies, conversion rates, and confusing ticker symbols, and can easily take advantage of BCH’s low fees, lightning fast confirmations, and ease.
DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.
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