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How to spend cryptocurrency for your business - TAX RESOLUTION
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How to spend cryptocurrency for your business

how to use cryptocurrency for business

How to spend cryptocurrency for your business

With cryptocurrency growing in popularity, what can you spend on to make some improvements to your business? Let’s take a look at how this cryptocurrency investment method can give your enterprise a leg up on your competitors.

Employees who travel often can avail some amenities

Some online agencies accept Bitcoin. CheapAir.com can help you book a flight or a hotel, even avail of car rentals. Expedia accepts Bitcoin for hotel bookings as well. Gyft and eGifter allow you to use Bitcoin for gift cards on websites like Hotels.com or other airlines. CoinFuel has gift cards for Uber and even gas stations.

Upgrade with the latest gadgets

An online retailer like Newegg accepts Bitcoin as payment for phone systems, computers, printers, and network solutions. Please make sure that you’re dealing directly with Newegg to secure your purchases and be informed of certain limitations. You’ll soon be spiffing up your work area in no time.

Level up with the latest software

Bitcoin has a become a payment option for Microsoft around the year 2014, but it was subsequently taken down, then recently put back in 2017. Add Bitcoin to your Microsoft account and browse through the Windows app store. If it’s not available there, look into Newegg or eGifter to procure a gift card so you can secure that Office 365 subscription. Equip your employees with the latest technology and watch your productivity soar.

Have an office makeover

Overstock.com might just have what you need to bring that modern touch to your corporate surroundings. They might have the latest in furniture or electronics, even mailing supplies that every small business requires.

Be one with the cloud

Everyone is looking at the cloud as the future of data storage. If you can find a way to expand your database and store it in a safe place, that would be crucial for your business needs. BitHost could be an option with its’ affiliation to cloud computing company DigitalOcean. By using your cryptocurrency to set up in this secure space, your virtual presence gets more insured and assured.

Prepare more safeguards for your business against possible liabilities

Bitcoin may not be the first payment choice for most legal firms but it has been growing in acceptance with newly established ones. With legal advice quite necessary for your business operations to remain effective, cryptocurrency spent for this need is a very wise choice. Research on several international law establishments that can take in Bitcoin as part of their legal fees. You’ll be glad to have done your homework on this.

Account for everything in order to know what’s happening

HappyTax and The Crypto CPAs are just some examples of accounting services that can be compensated with Bitcoin. Without the proper accounting system in place, your company’s finances are in dire straits. By retaining the expertise of these accountants, they can guide you on just how your income and expenses are performing. In 2017, Ernst & Young, a world-renowned accounting group, has already accepted Bitcoin as a payment option. When you are able to grasp where your money is going, then your business success or failure can be determined. Do not skimp on this very integral part of your enterprise.

Be in the know

eGifter can get you an Amazon gift card with Bitcoin. Why not subscribe to the Harvard Business Review or Investor’s Business Daily. An iTunes gift card purchased through eGifter or Gyft can provide you with relevant programs connected to your industry. Newspapers and other news outlets have not fully bought into the cryptocurrency option. By having this information readily available, you’ll have the data you need to keep your ship set on the right course. Don’t fear that an iceberg will magically appear to sink your aspirations. Have the advantage of the radar which sends you correct information on what obstacles may lie ahead. When you are able to avoid these, then you’ll be more than able to keep your business afloat.

Keep your pantry or break room well stocked

There’s no denying that a well-fed army will  always make you win the war. The last thing you want to happen is to have your employees fainting from hunger and feeling quite a bit undernourished. A satisfied stomach has always been that ever reliable morale booster.

Try asking around which food establishments in your area are open to accepting cryptocurrency. Whole Foods gift cards can again be bought online through eGifter or Gyft. Your fridge will be well stocked and your employees will be smiling a whole lot more since starvation has been abated from their workspace. Even fast food chains and well-known brands are leaning towards this Bitcoin trend.

Give back to your community

Corporate social responsibility should always be practiced. When you play the part of a good neighbor, then the more your neighborhood will appreciate you. It doesn’t hurt to verify which charitable institutions accept Bitcoin. You’re not only out to do a good deed just to improve your image. You want to help those who need it because it’s the right and decent thing to do.

A group called Save the Children which started almost 100 years ago has been accepting Bitcoin donations since 2014. Even the Red Cross, Greenpeace, and the United Way are taking in this cryptocurrency. BitGiv, a non-profit organization that focuses on public health and the environment also offers other philanthropic projects that can tie up with relevant organizations. It’s just a manner of seeking out what would be the best fit for your corporate values.

Your takeaway

Even with the staggering increase in the value of other cryptocurrencies and the more popular ones such as Bitcoin, Ethereum, Ripple, always proceed on a cautionary note. Cash, credit or debit cards, checks, and other online payment systems still rule so be careful in getting the most out of your cryptocurrency purchases. The bottom line is that your people and your small business are capable of so much more if you are able to invest prudently and effectively.

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