What services and shops Can Bitcoin be used for services and shop?

Now that you can pay by cash or credit card, you may be wondering why you need to use bitcoin.

Certainly, Bitcoin has some issues, such as the limited number of places where it can be used and the price fluctuations. However, experts think that Bitcoin is more convenient than that. You shall take a look at Bitcoin payments one by one.

Available services

Stores and services that allow bitcoin payments are also increasing in the country

Real store

There are still few places where you can make bitcoin payments at actual stores. However, the introduction of bitcoin payments basically has many benefits for service providers (described later), so it is gradually increasing at present, and it is expected that the number of places where it can be used will increase in the future.

Payments at real stores often have dedicated payment machines, and the payment is completed by reading the QR code displayed on the payment machine with the smart phone wallet application. For more detail sign in here: 

List of services that can be used for a bit coins, including a real shop (to an external site)

Utility charges

In some cases, utility bills can be paid with bitcoin due to regulatory reforms. Retail liberalization of electricity has been decided since April last year.

Among them, some new electric power companies, such as the three-wheel industry, have introduced the payment of electricity costs using bitcoin.

In addition, gas retail liberalization will begin in April this year, and with the deregulation of the future, the scene where bit coins can be used for payment of monthly services such as utility bills may increase.

Not even supported…

There are services that allow bitcoin payment even in stores where bitcoin payment is not available.

In services such as bundled cards and Wirex (to external sites), Bitcoin can be exchanged for existing currencies and charged to be used as prepaid cards.

If you use such a card, you can pay with Bitcoin where you can use a credit card, which greatly expands the range of Bitcoin usage.

Learn how to charge Bitcoin to a bundled card.

Merit Low commission

Traditionally, remittances have been carried out by huge systems with significant security costs.

The remittance and settlement system built by this financial institution enables you to receive financial services such as secure transfer and management of money and purchase of securities.

On the other hand, these systems are so large that they have to pay a lot of money for each remittance or take time. The introduction of Bitcoin frees you from various restrictions such as fees and slow remittances.

Bitcoin’s lack of substance and the introduction of a technology called blockchain make it much simpler, cheaper, faster and more reliable to transfer and manage funds than traditional financial systems.

For example, a service provider can reduce the commission from 2-10% on credit card payments to 1% by changing from bitcoin to a payment method.

In addition, remittances abroad, which previously had a fee of several thousand dollars, can be reduced to a fee of about 5 dollar.

Quick remittance independent of business hours

Until then, the time between deposit and receipt was slow due to the financial institution, and could take several days, including non-business hours.

Bitcoin, on the other hand, operates a 24-hour money management system, so you can transfer money without being restricted by time.

In addition, Bitcoin allows you to send money directly to the other party without going through a financial institution, which speeds up the process of receiving money.

This allows operators to close their profits faster and consumers to purchase securities faster.

Procedure is easy

Not going through a financial institution eliminates the need for complicated procedures for financial institution.

This allows operators to cut down on extra paperwork and makes it easier and more intuitive for consumers to exchange funds.

Exemption from consumption tax

Currently, Bitcoin is subject to an 8% sales tax, which consumers may pay in the form of commissions.

However now, that the consumption tax is eliminated against Bitcoin purchase to prospect the next spring.

As a result, consumers may be able to make Bitcoin payments cheaper than before. In addition, businesses will not have to pay for the sales tax generated by buying and selling Bitcoin, which will cut costs. An environment is being set up in Japan where both consumers and businesses can use bitcoin cheaper and easier.

Speak Your Mind