B2B Vault Episode 23: The Crypto Biz Series Part 1

Written by Allen Kopelman

November 19, 2021

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Video Transcription

Hey, here we are today. Allen Kopelman here with another episode of B2B Vault the payment technology podcasts. So today we’re going to be starting with our series on crypto. So we’re going to address, um, different business types. And what are the advantages of dealing with cryptocurrency and your business and where the focus is? And we believe the focus is on luxury and high dollar purchases is where the biggest need for crypto is right now. And one of those markets is the market of jewelry and fine art. Someone’s coming into your jewelry store and they go and they want to pay with crypto. So I’ve talked to store owners before and a store owner told me, well, nobody comes in and asks me for crypto. Well, do you advertise that you can accept crypto? Is it on your website that you can accept crypto? If it’s not there, there, and somebody is looking to spend their crypto, they’re searching for a jewelry store or an art gallery. That’s, that’s going to accept their cryptocurrency. What are the advantages of dealing with us on our program for cryptocurrency? The biggest advantages? No co-mingling of funds. So you, when somebody transfers crypto from one wallet to another wallet, that’s from person A’s wallet to person B’s wallet. Well, the person receiving the crypto is now responsible to pay taxes. So that doesn’t work in a business scenario. Even if you’re going to hold onto the crypto, there’s still going to be taxed. And I can tell you, you can Google it on that. The IRS recently seized some crypto from people doing this. So what we do is, are you take crypto, and then you can watch another video. When you search in the blog, uh, or through our podcasts for crypto, you’ll see ones where we’re showing you how the system works. But when you take crypto, you’re going to get dollars in your bank account. So this way you’re taking money from somebody just like accepting a credit card, except in this case, it’s crypto. And just like we do with a merchant account, we deposit the cash. So you don’t, it’s not like we give you a credit card with the money on it. From the person’s purchase, you get you, your bank account is going to get funded. So a customer comes in, they want to buy this nice watch. They cost $35,000. They go here, but, I want to pay the whole thing with a Bitcoin. Great. You can go. You log into your dashboard, create an invoice, email that over to the customer, the customer opens it up on their phone. They copy and paste the code. Then they open up their crypto wallet. They can use any wallet that they want. Then pop it in there and they complete the transaction. Cause it’s going to tell them how much crypto they need so that you can get your $25,000. And we have a fee it’s very small, 1.9, 9% and 5 cents. And you also can add that fee to the transaction. It costs you nothing. So our program, you know, we’re giving you everything that you need except crypto gets dollars in your bank account and get paid. So you get the money in 20 and about 24 to 48 hours deposit to your bank account. There’s no monthly fee, no setup fee. And the only fee that you pay is the 1.99, but you can also pass that on to the customer. And right now we’re doing, we do Bitcoin Bitcoin cash like Cohen and the theories. These are the foremost popular goings, and you don’t have to know anything about trading Bitcoin. Buying Bitcoin. Selling cryptocurrency is cryptocurrency. Then, when it’s sold is sold at fractional. So we’re taking care of that. So then fractions, we’re taking care of that. You want 25 grand from your customer. You’re going to get 25 grand in your bank account. This is what businesses need. This is what they want. We worked on this program for over a year to get this set up so that it can it’s compliant for businesses. You don’t have to worry about any tax implications, nothing. The customer pays you with crypto using any wallet, get deposit your bank account. Hey, this is Alan Kopelman. This is our first episode of crypto for jewelry and fine art from the B2B vault. Follow us on social media. Follow us on your favorite podcast network. Also, check us out on YouTube. Have a great day.

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Merchant Statement Analysis | Merchant Services Statement Analysis
Merchant Statement Analysis | Merchant Services Statement Analysis

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