The media is covering it. Universities are studying it. The government is seeking to regulate it. And entrepreneurs are embracing it. Business owners throughout the country have begun to accept bitcoin as the currency of the future.
Launched in 2009, bitcoin is a form of digital currency created and held electronically. It allows individuals to transmit money to one other online without using a bank or other intermediary. Since its inception, some of bitcoin’s most avid and vocal supporters have been entrepreneurs.
CheapAir.com, for example, has accepted bitcoin as payment since 2013. CEO Jeff Klee recently told Entrepreneur.com that the idea to accept the digital currency sparked from a customer’s inquiry. Today, the company not only accepts bitcoin but finds that one of its key advantages is that these transactions are irreversible. Unlike a credit card transaction, where customers can later dispute charges or submit claims of fraud, once a bitcoin payment is finalized, it can no longer be disputed or reversed.
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