Innovative Concepts celebrates accepting Bitcoin 4 years

Everyone knows that Innovative Concepts is always balancing leading-edge technology with practical business practices.  In that light, Innovative Concepts began taking Bitcoin as an alternative form of payment back in January of 2014.

There is a lot of misconception surrounding Bitcoin but why wouldn’t any company want to accept payment from its customer in any way that customer wanted to?  Well, obviously, if that payment method didn’t have cash value.  Nobody wants to accept grandma’s pies when they were expecting a $20 bill.

In reality, businesses already accept “virtual” money every day.  When a customer pays by credit card, they give us a 16-digit number that has no value but we have confidence that it will later be converted into US Dollars.  How much US dollars?  Well, the number we enter into the register/app.

So, accepting Bitcoin works the same way.  We enter in the amount of US dollars we want our customer to pay and they give us payment in Bitcoin equal to that amount (yes, the conversion is automatically calculated for us).  The transaction takes place and in a day or two, the money is deposited into our regular checking account.

Four years ago, Innovative Concepts accepted its first Bitcoin transaction via its site.  Why not ask them how they did it?

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