Frequently Asked Questions
Why Should My Business Accept Bitcoin?
Why Should We Accept Bitcoin?
First and foremost, to attract business from Bitcoiners
- Bitcoiners are highly motivated and loyal and seek out businesses which accept Bitcoin
- We will, free of charge, promote you to the Bitcoin community by adding your business to this UK map, and this global map, and talking about your business on social media
- We will promote your business to your local Bitcoin meet up group
- Immediate final settlement. Accept and receive payment 24h a day, 7 days a week, 365 days a year. There’s no such thing as a “business day”!
- No chargebacks
- Very low to near zero transaction fees.
What is Bitcoin?
Here’s a short film that lays out the basics. For more information look here.
Isn’t Bitcoin Illegal?
Absolutely not. In fact, the UK government has committed to becoming a global hub for digital assets.
Contact Bridge 2 Bitcoin for free, no obligation assistance in getting started.
Do I have to pay tax on Bitcoin income?
There are solutions to accepting Bitcoin which will have no tax or accounting implications for your business, talk to us and we can demo them to you.
We’re not tax advisors, but we can speak with you and your accountant regarding how best to handle Bitcoin for your business.
You can rest assured that multiple businesses throughout the UK are accepting Bitcoin payments with ease and without issue.
Aren’t there many “cryptocurrencies”?
There are several off-shoot digital cash systems, some even use the word “Bitcoin” in their names.
For ethical and potential future regulatory reasons we do not promote or recommend using any of these except for Bitcoin. We can explain our reasons in more detail on a call.
Bitcoin itself is the original peer-to-peer digital cash system invented in 2008. It is the safest, most used, most decentralised, hard money we’ve ever had.
What about all these hacks and exchanges going bust?
One of Bitcoin’s innovations was to remove the need for a bank, you can securely hold your own Bitcoin.
However, if you do leave your Bitcoin on an exchange or leave it with any 3rd party you are taking a risk which, for small amounts, may be a reasonable trade off for convenience.
If you self-custody your own Bitcoin in your own Bitcoin wallet your funds are much safer.
What do I need to do?
To explore and choose the best option for your business, contact us here.
We have someone local to you who can provide advice and support.
Your business will also benefit from UK and global publicity as one that accepts Bitcoin.
The Bitcoin community are active and loyal – this will generate additional revenue for your business.