UK digital marketing agency In Front Digital has begun accepting bitcoin as payment following an increase in interest from businesses in the sector.
Bitcoin Benefits Obvious Over Banks, PayPal
The company, based in the country’s second city Birmingham, is still among the first movers in an environment comparatively slow to catch on to digital currency.
“With the increase in interest in bitcoin, we’ve had several clients (mostly tech ones) ask if we did accept bitcoin,” CEO Matthew Day told Bitcoin.com.
“We have also had some interest around international work and barriers are a lot lower (and quicker) when dealing with bitcoin versus bank transfers or PayPal.”
In Front Digital offers SEO and PPC services as part of its full service marketing package, all of which can now be paid for in bitcoin. In a press release issued Monday, the company indicated it had been eyeing bitcoin’s progress among merchants for some time prior to making a decision to come on board.
“We have been following the trend and usage of cryptocurrencies over the past 18 months and see bitcoin is gaining in strength, popularity and use,” Day explained.
CEO: UK Banking System Only Hurdle to Full Integration
Research into bitcoin’s full potential to help business process does not stop at pleasing tech clients. The past few years have seen startups demonstrate how the virtual currency can easily be used to streamline not just merchant payments, but a raft of internal processes, which Day is keenly aware of.
“I would prefer to keep the money in bitcoin due to safety from inflation but I will convert some to pay for expenses, such as company running costs, as although the amount of places taking bitcoin is increasing, we are still for the most part restricted to the banking system,” he continued.
He added he would “welcome the day” that he could pay staff salaries in bitcoin.
Unlike many businesses which use merchant providers such as BitPay or Coinbase to accept payments, Day is going it alone. Indeed, long term he considers it prudent to maintain a maximum amount of BTC profit in its original format.
“I think it is safer to keep it in bitcoin rather than fiat currencies,” he said. “I haven’t really used merchant support infrastructure too much but I am aware of sites like BitPay and others.”
The UK is currently shaping up to be a mixed environment for cryptocurrency and businesses that deal in it. While government schemes appear to broadly support disruptive fintech, recent moves from the country’s banks demonstrate a lack of understanding on legislation and liability.
What do you think about In Front Digital’s perspective on Bitcoin adoption and the current UK regulatory stance? Let us know in the comments section below.
Images via Shutterstock, In Front Digital
If you’d like to know more about how to accept Bitcoin as a business, read our User Guides or ask your questions on the Bitcoin.com Forum.
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