How and Why Crypto Supports Small Business
We have a huge admiration for small businesses because they play an essential role in both our economy and our culture.
Infused with the unique personalities and perspectives of both owners and patrons alike, small businesses are integral to shaping the identity of communities far and wide.
They’re also built from the ground up by people with a dream and a vision. And that’s something Coinbase will always get behind.
For us, that support looks like this: making crypto as easy to use as possible so more money can find its way into the hands of small business owners rather than large banks and corporations. Coinbase Commerce, for example, illustrates how switching from traditional finance to crypto can provide tangible benefits and additional profits to business owners. If a business uses the Coinbase-managed version of Commerce to accept USDC, it would only incur a 1% transaction fee on the sale, as opposed to the 2.5% — 3.5% charged by most credit cards. The business owner can then convert the USDC into US Dollars and withdraw to a bank account for free, or they can leave it in their Coinbase account to earn rewards.
At first glance, that may seem like a small savings, but on hundreds or thousands of transactions per week, it adds up to a lot of money. Money we think would be better spent by owners reinvesting in themselves and helping their businesses grow and thrive.
That’s why we’re launching “We Accept Crypto,” an effort to raise awareness of small businesses that accept cryptocurrency as a form of payment.
Whether you’re a small business owner or a small business shopper, show your support for your community by participating in #WeAcceptCrypto.
Here’s how it works:
If you own or work at a small business that accepts crypto payments:
- You can post on Instagram, Instagram Stories or Twitter with a picture of your business and tag it with #weacceptcrypto
- Coinbase may feature your business on one of our social media platforms
- Coinbase will send a link via DM to the first 1,000 businesses who post using the hashtag. Use the link to provide your shipping information and Coinbase will send you a complimentary window sticker for your business
If you shop at a small business who accepts crypto payments:
- You can post on Instagram, Instagram Stories or Twitter with a picture of you supporting a small business that takes crypto and tag it with #shopcrypto
- Coinbase may reshare your post on one of our social media platforms
- Coinbase will send a link via DM to the first 1,000 shoppers who post using the hashtag. Use the link to provide your shipping information and Coinbase will send you a complimentary tote bag
Additionally, small businesses can right click + save our official “We Accept Crypto” badge below for free and add it to their websites or social channels, to show the world that it accepts crypto. Send us a screenshot if you do!
Terms and Conditions
Gift recipients must be based in the United States. Gift recipients must reply to their DM from Coinbase with their shipping information by midnight Pacific time on 11/30/21. Limit one gift per person and while supplies last.
#WeAcceptCrypto was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.