Cryptocurrencies are no news anymore. They have steadily grown to become an essential part of daily transactions globally. Their worldwide user base went from 35 million in 2018 to 221 million by June 2021. This widespread adoption further pushed businesses' acceptance of digital tenders.
At the Maid Service Summit of 2021, our CEO, Vanessa Higgins, gave a presentation on how cleaning service owners and field techs can embrace this new trend. She was invited for the third time in a row, alongside over 40 industry experts, to talk on the relevant topics that will help entrepreneurs in the cleaning industry effectively maintain and scale their businesses.
It is a digital currency that excludes the intermediary in financial transactions, such as banks, by using a decentralized system that gives you direct control of your client transactions. They're produced in mining hubs globally, and currently, over 7,000 different cryptocurrencies are in use. The common types of cryptocurrency include Bitcoin, Litecoin, Ethereum, etc.
Cryptocurrencies may be a form of currency like regular money. Still, they differ from them in key aspects such as
|Differing Factors||Cryptocurrency||Traditional Money|
|What backs them up?||The consensual value users find in it.||The economy of the issuing country|
|Governing body||No central authority. It is built on mathematics and distributed computing.||A central bank.|
|Speed of Transaction||A few minutes||Two to three days|
|Transaction fees||$0.3 or up to 2-3% of a transaction||$0.01 to zero|
Major corporations like PayPal, Home Depot, Starbucks and so on, have begun to accept Bitcoin as a form of payment. There are many reasons your maid cleaning service should not be left behind. They include
With every financial decision, there are risks. Here are the major ones you’ll face with cryptocurrency.
You create a crypto wallet where you can store the currency. There are hot and cold wallets available for you. Clean Tu Casa currently uses hot wallets on Paypal and QuickBooks online.
Image Source: Crypto.com
After setting up your wallet, the following steps to get started with crypto are to announce that you accept crypto, then set your price and payment processes. Make sure you talk to your accountant before you begin to figure out how to pay your taxes from crypto payments.
That depends entirely on you. Speak to a professional, weigh the opportunities and risks of the venture for your cleaning agency and make sure you decide with your business’ best interest in mind.
If you are in need of professional cleaning services, Clean Tu Casa will be glad to offer a free quote for your project. Request a free quote today!