I’m sure you’ve watched the news or even noticed the signs going up all over American stores right now, businesses large and small are turning towards a Cashless business model. So what does this mean for small businesses or your personal financials? It’s time to be prepared! Don’t wait until it’s too late for your business to handle all transactions electronically.
The “New Normal” is now, almost Cashless….
Here are 5 things you can do right now to help you be prepared financially:
1. Purchase some form of cryptocurrency such as Bitcoin, Ethereum or Lightcoin. You can purchase cryptocurrency on trading sites like Binance. This is important because blockchain technology could drastically reduce costs for banks and credit card companies. Cryptocurrencies have also proven that digital assets can have a true value to them.
2. Make sure you are ready to accept electronic transactions. You can sign up for a digital POS System with most companies for free and only pay a small fee when you make a sale. Square.com is one of the most popular choices among most small businesses due to being able to accept tap cards, Apple Pay, and Google Pay in person or remotely.
3. Get an app for quick transfers or instant payments. Use an app like CashApp to get access to money instantly from customers, friends or family members. Cash App is a mobile payment service, allowing users to transfer money to one another using a mobile phone app.
4. A potential problem with a cashless society is that it depends heavily on electronic records and those records can be hacked. So it’s best practice to keep physical, printed copies of records about your assets, trades or any documentation on currency you own.
5. Read up! The Digital Currency trend of the past few years has continued to grow despite widespread predictions that it would flop. Blockchain is suddenly everyone’s favorite buzzword. What if Digital Currency is about to change the world in ways beyond our imagination? Check out some books on Amazon regarding Digital Currency to help you understand the basics and get a better look at what business could look like in the future.
At the end of the day the Dollar has served as the world’s reserve currency since 1944 and we don’t think it’s going anywhere. However, it’s best to be prepared and educate yourself on what may as well be our future. Read some books and dabble in digital currency and remember it’s important not to store all of your eggs in one basket!
Disclaimer: Published press releases and sponsored articles, are not endorsed and cannot guarantee any claims made in those content pieces. None of the articles published on C&M should be construed as investment advice. We strongly advise our readers to always do their due diligence before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, C&M does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.