Starting a new business is always a challenge, especially when it comes to managing finances. However, with the rise of cryptocurrencies and the emergence of crypto banking, startups can now enjoy new financial freedom and flexibility.
This blog post will explore the benefits startups can gain from using crypto banking.
1.Easy international payments
One of the biggest advantages of crypto banking is the ease of making international payments. Traditional banks often charge high fees and take days to process international transactions, making it difficult for startups to operate globally. With crypto banking, payments can be made instantly and at a much lower cost. This means that startups can expand their business internationally without worrying about the high transaction fees that come with traditional banking.
2. Lower transaction fees
In addition to international payments, startups can benefit from lower transaction fees when using crypto banking. Traditional banks often charge high fees for transactions, especially for smaller businesses. However, with crypto banking, transaction fees are much lower, allowing startups to save money and reinvest it in their business.
3. Increased security
Another advantage of using crypto banking is the increased security it provides. Traditional banks are vulnerable to hacking and fraud, which can result in financial loss for businesses. However, crypto banking secures transactions with blockchain technology, which is highly secure and nearly impossible to hack. This means startups can have peace of mind knowing their finances are safe and secure.
4. Improved access to funding
Startups often struggle to secure funding from traditional banks due to their lack of credit history and financial track record. However, startups can access a broader range of funding options with crypto banking. They have to have the right partner banks who cover the compliance aspects, but it opens many more options once set up.
5. Faster access to funds
Traditional banks often take days or even months to process transactions and provide access to funds. However, crypto banking processes transactions instantly, giving startups faster access to their funds. This can be particularly useful in situations where startups need to make quick payments or investments.
6. Increased transparency
Finally, crypto banking provides increased transparency for startups. Traditional banks often have complex fee structures and hidden charges, making it difficult for businesses to understand the actual cost of their financial transactions. With crypto banking, all transactions are recorded on a public blockchain, providing a transparent and easily accessible record of all financial activity.
In conclusion, startups can benefit significantly from using crypto banking. From lower transaction fees and increased security to improved access to funding and faster access to funds, there are many advantages to using this new financial technology. By embracing crypto banking, startups can position themselves for success in the rapidly evolving world of business and finance.
Working with Panterra Finance
Managing finances can be a daunting task. However, by working with a fractional CFO, companies can gain access to the expert financial guidance and support they need to succeed. Whether it’s financial strategy development, financial reporting and analysis, cash flow management, cost management, or fundraising and investor relations, a fractional CFO can provide valuable support across various financial disciplines. By partnering with a fractional CFO, businesses can position themselves for long-term success and achieve their strategic objectives.
Sam McQuade is the owner here at Panterra Finance. Sam has successfully scaled his decades-old ideas into an innovative full-service Financial Partner Solution for incubators, startups, and emerging business concepts, as well as well-established international companies, corporations and organizations with the introduction of Panterra Finance. During pivotal transitions, the Panterra Finance professional executive team members are equipped to provide an industry-leading concept of an on-demand Fractional CFO. In disrupting the traditional contracted title of CFO, Panterra Finance innovatively offers all its clients thought leadership based on international financial market experiences. Panterra Finance provides a unified global approach to businesses in the Americas, Europe, Asia, and Africa.
The Fractional CFO and Interim CFO experiences gained by the executives assigned to these positions throughout Panterra Finance offer them a broad perspective of the dynamic changes in international markets. The part-time CFO executives at Panterra Finance have access to worldwide teams that are proficient in and have initiated innovative strategies in projects centered on Defi, Blockchain, Bitcoin, Ethereum, Crypto, and Tokenization services.
If you feel your business could benefit from Fractional CFO services, we invite you to book a call by clicking the below button. It could transform your business.
Coincub.com
Coincub.com offers a bespoke analysis of the crypto economy for new and experienced crypto investors, uniquely country-by-country. Globally, Coincub offers insight into the best and most legally compliant cryptocurrency uses.
For more information on Coincub you can visit their website here.