Business

Should My Restaurant Experiment With Crypto?

Cryptocurrency is making huge news these days. Investors are utilizing this advance in blockchain technology to grow their portfolios are growing in size and magnitude, with almost 50 million people in the United States now ranking among those listed as investors in Bitcoin (BTC) alone.

Cryptocurrency exchanges are becoming more widely recognized by consumers as well. Coinbase has gone public in recent months. Many other crypto exchanges share similar volumes of users to what is arguably the industry leader in Coinbase (although many who use Coinswitch, Binance, Kraken, Gemini, and others might leap to their chosen crypto exchange’s defense).

With the significant hype surrounding the cryptocurrency marketplace and crypto exchanges, like Coinswitch themselves, it’s no wonder why businesses across market sectors are contemplating the benefits of accepting cryptocurrencies as payment and utilizing the broader marketplace to their advantage in other ways as well.

Cryptocurrency as a Payment Option

The cryptocurrency was born as an alternative payment vessel for those fed up with the fiat currency model dominated by geographic, governmental entities. With the growing digital marketplace taking hold across the world, a decentralized payment platform allows buyers in Turkey (the country ranking highest in projected compound annual growth rate from 2020-2025 in eCommerce sales) to connect seamlessly with sellers in Canada. Building a network of peer-to-peer transaction validation was the mission in Bitcoin’s initial launch, and it has grown by many orders of magnitude since its humble, 2009 beginnings.

Cryptocurrency’s Investment Revenue Potential

There are thousands of individual tokens, coins, and forks in existence, and investors and consumers are taking advantage of all that this field of crypto finance has to offer. More and more retailers are accepting cryptocurrency as a valid form of payment, and your restaurant may very well want to follow suit after reading a Coinswitch review and learning all that a crypto exchange, crypto wallet, and cryptocurrency openness can do for your business. Investing profits directly in the exchange is one way that businesses are capitalizing on the increased use of cryptocurrency payments.

For cautious investors and business owners, the use of a staking function within your exchange can automatically deposit any accrued funding into an interest-bearing subscription, building your ancillary value exponentially over time.

Likewise, as your holdings in this space grow, utilizing the profits to pay for additional functions and services that your business requires, like the support of a restaurant branding company, can be accomplished without leveraging your fiat currency reserves—the cash that you use to pay staff wages, building rent, and other traditional expenses associated with the day to day operation of the business. Restaurant branding is one essential service that many businesses in the food and beverage industry are tapping into more and more these days.

With the continued pandemic crisis among restaurant owners eating away at profits and repeat customer business, finding new ways to get your name out there and remain relevant to your loyal base of patrons is crucial. Branding that utilizes social media and other digital platforms offers a winning strategy that many marketing agencies are leaning into on behalf of their clients.

Digital marketing and crypto holdings feel as if they are close cousins these days, and maintaining this additional cash account in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), or Ripple (XRP), is a great way to boost your financial moat over time and supplement your brand’s stability for the long term. Crypto holdings are a great way to boost your client base’s interest in the brand itself and provide a great way to maintain long-term financial stability. Consider this new inclusion for your brand’s future.

 

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