accepting Bitcoin and tether: what effect will this have on individuals and merchants?
For individuals
There are many different types of individual Bitcoin users in the world today. From traders looking to make profits on a daily basis; to long-term investors looking to store their Bitcoins safely; to tech-savvy shoppers looking to avoid credit card fees or preserve their privacy; to philosophical users looking to change the world; to those looking to make payments more efficiently on a global scale; to those in third world countries looking to access financial services for the first time; to developers looking to create new technologies; to everyone who has found many uses for Bitcoin. For each of these people, we believe tethers are useful in the same ways, such as:
● Transacting in USD/fiat value, pseudo-anonymously, without any middlemen/intermediaries
● Cold-storing USD/fiduciary value by securing one's own private keys
● Avoiding the risk of storing fiat currencies on exchange platforms Easily moving cryptocurrencies in and out of exchange platforms
● Avoiding the need to open a fiat bank account to store fiat value - Easily enhancing apps that work with bitcoin to also support tethering
● Everything that can be done with Bitcoin to also support tether
● Everything you can do with Bitcoin as an individual can also be done with tether
Merchants
want to focus on their business, not payments. The lack of global, inexpensive and ubiquitous payment solutions continues to plague merchants around the world, both large and small. Merchants deserve more. Here are just some of the ways Tether can help them:
● Price goods in USD/fiat rather than Bitcoin (no conversion rates/mobile buying windows)
● Avoid Bitcoin to USD/fiat conversion and associated fees and processes
● Avoid chargebacks, reduce fees and enjoy greater privacy
● Provide new services with fiatcrypto functionality Microtipping, gift cards, more.