How to Accept Payments as a Business Owner with Bitnob.

Is expanding a business a smart idea? Yes, based on the obvious outcomes of prominent businesses. If you could speak with one of the well-known retail franchise founders one-on-one, quite sure the best advice they could give you as a small business owner is to put structures in place before growing.

One important thing that makes up a great structure is the ease and efficiency of receiving payments from the comfort of your country. For businesses that want to see a high impact with medium effort – i.e. an effort that will not eat deep into their customers’ pockets. How do you provide a solution? What is the best provider to opt for?

In this article, we'll look at the main ways Bitnob helps solve payment challenges, posing as the best way for small businesses to accept payments–especially if your business is online.  Let’s roll!

Bitnob: The Best Way for Small Businesses to Accept Payments.

An ideal choice for small businesses looking to easily accept payments is Bitnob, offering several options in which payments can be received. Bitnob is a platform that ensures smooth and secure transactions with competitive fees and transparent pricing, Here are the three major ways to accept payments on Bitnob;

Receiving Payments in USDT/USDC

Bitnob facilitates accepting payments in stablecoins such as USDT (Tether) and USDC (USD Coin). Stablecoins are digital currencies pegged to the value of traditional fiat currencies, providing a stable and reliable means of transacting in the cryptocurrency space. 

As a business owner, you can leverage Bitnob to receive payments from international customers who can’t send money directly through a bank. This will eradicate the need to pay exorbitant charges on cross-border transactions.

On Bitnob, all you need to do to start accepting payments is generate a USDT/USDC wallet address and share it with customers willing to pay in stablecoins. As your customer transferring from the TRC 20 Network [TRON], your funds are securely settled in your Bitnob account, and from there, you can withdraw into your local bank account.

Receiving Local Currencies into Bank Accounts or MOMO Wallets

Recognizing the importance of local currencies in global transactions, Bitnob enables you to send and receive payments in your local fiat currencies in Nigeria, Ghana, Togo, Kenya, Ivory Coast, Senegal, Rwanda, and Benin.

However, this method requires you to ask your customers to download Bitnob, so that they can efficiently send money to your local bank or MoMo wallet. For instance, if you run your business from Togo while you have a customer in Nigeria, with Bitnob, your customer can send CFA directly into your momo wallet.

Receiving Payments in Bitcoin

Another sufficient method of accepting payments is receiving Bitcoin from customers with the option available. There are two ways to this method on Bitnon- via Lightning and on-chain [external wallet]

Lightning Network is a second-layer scaling solution for bitcoin that facilitates faster and cheaper transactions. With Bitnob's Lightning integration, you can enjoy the benefits of near-instant payments and reduced transaction fees.

Onchain transactions, on the other hand, involve direct transfers on the bitcoin blockchain. Your customer might not be used to the Lightning Network. To accept Bitcoin payments, you need to create a Bitnob account, as you will be automatically provided with both a USD wallet and a BTC wallet. Here is a quick step-by-step guide on how to receive BTC via onchain.

Ready to Take Your Business Global?

The ability to receive payments as small businesses– especially in Africa is essential for facilitating the smooth flow of international trade. However, businesses in Africa should leverage the series solution Bitnob has proffered to reach a wider audience globally. Does this sound like it's worth a shot? To get started, download Bitnob.