What is a Medium-Sized Business?
A medium-sized business (MSB) is generally considered to be one that employs between 50 and 250 people. This range can vary somewhat depending on the country or region in which it operates, but typically these businesses have between 50 and 249 employees. These companies are often referred to as “mid-market” firms due to their size relative to other types of businesses.
Medium-sized businesses play an important role in many countries’ economies, accounting for approximately 34% of jobs worldwide according to the World Bank. They usually produce higher quality products than larger corporations do, yet are more cost effective than smaller companies. In addition, they offer entrepreneurial opportunities for individuals seeking ownership over a successful venture without having to create a large corporation from scratch.
What Are the Benefits of Accepting Cryptocurrency Payments For Medium Sized Businesses?
Cryptocurrency payments offer numerous benefits for medium sized businesses looking for ways to modernize their payment processing systems and attract customers who prefer virtual currency payments over traditional forms such as cash or credit cards. Some of these advantages include:
1) Lower Transaction Costs: Due to its decentralized nature and absence of any intermediary costs associated with third party processors like banks or credit card companies, cryptocurrency transactions tend to incur lower transaction fees compared with traditional payment methods; making them especially attractive options for small/medium sized eCommerce stores operating on razor thin margins.
2) Increased Security: Transactions made using cryptocurrencies are highly secure since all data is encrypted via blockchain technology at both ends thus providing extra layers of protection against frauds and online theft attempts by hackers etc., resulting in better customer experience overall when dealing with digital assets such as cryptocurrencies etc..
3) Greater Customer Reach: By accepting cryptocurrency payments your business can tap into new global markets beyond your current geographical reach allowing you access previously untapped potential customer base that may not be accessible through conventional payment gateways like cash or debit/credit cards etc..
