NewYorkCoin (NYC) launched in March 2014. The developer of this cryptocurrency may not be known, but we do know there are certain advantages to accepting it.
- It offers a virtually 100% free worldwide network as there are no other fees involved to send or receive NYC.
- It offers transactions that are faster, on average, than major cryptocurrencies that have more press.
- It continues to offer low-difficulty mining, allowing the network to remain free to use.
NYC offers a blockchain that has been proven since 2014, using its open-source platform, with a searchable block explorer, to provide fair opportunities for one and all.
The advantages are clear. There is only one question left remaining to ask. Should your business accept NYC as a form of payment?
What Are the Benefits of Accepting NewYorkCoin?
It is true that NYC, along with all other cryptocurrencies, is still in its early stages. That means there is a certain level of risk associated with acceptance of this payment method. Yet, at the same time, there can be some comfort taken by the fact that numerous global brands have embraced the process.
Companies such as Microsoft, Expedia,
Stripe, and PayPal have all begun to accept cryptocurrency as a payment method.
Because it has lower barriers to entry than a “traditional” payment method, such as accepting credit cards, NYC offers any business in any industry an opportunity to get paid quickly and easily for what you already do best.
Here are the benefits that are possible when you begin to accept NYC.
#1. Chargeback frauds don’t happen.
Cryptocurrency transactions do not carry the same chargeback risks as a credit or debit card transaction. Your client orders and you receive the money instantly. Up to 86% of chargebacks may be friendly fraud, a rate that has increased by over 40% since 2015. 
#2. Funds are immediately available.
With bank-owned payments, there is always a delay in receiving your funds. Even digital processors, such as PayPal, may institute delays for some accounts. With NYC, there is no third-party. Successful payments are accessible from the wallet immediately and can be converted to a preferred currency on your schedule.
#3. Transaction costs are much lower.
Almost every cryptocurrency offers a lower transaction fee than a credit or debit card, which can be as high as 4% per purchase. Unlike Bitcoin, which bases fees off of traffic levels, so they can be variable and high, NYC is structured so that there is never a fee to send or receive funds during a transaction. 
#4. You attract new prospects.
Cryptocurrencies are rising in popularity. Those who use them, particularly NYC, are looking for businesses and brands which support them. Accepting NYC means you’re reaching up to 3 million people who are using cryptocurrencies right now. 
#5. It creates publicity for your brand.
With the meteoric rise of cryptocurrencies since Summer 2017, it seems like there is one in the news cycle almost every day. Even small-town media is reporting on businesses that are accepting cryptocurrency to take advantage of this global trends. If you’re one of a handful of businesses that accept NYC, it will make news. It will generate publicity.
#6. You set yourself up for the future.
Although altcoins are currently more of a “fad” than a standard procedure, everything that is “traditional” was a fad at one point. Getting in on the ground floor for an opportunity like NYC means you’ll be ahead of the curve when your competition finally realizes these potential benefits.
#7. You can learn what you need to know right now.
Blockchain technologies could be the future of the retail industry. Even if it doesn’t replace credit cards one day, NYC and other currencies are not going away. Adopting NYC allows you to develop a working confidence with this technology so that you can begin profiting from it today, tomorrow, and well into the future.’
#8. It makes foreign transactions easier.
For the small business owner, going global can be a real headache. You can accept payments in most major currencies today, but at a cost. Foreign transaction fees can be as high as 3.9%. Then you have the credit card processing fee of up to 4% on top of that. You’ve suddenly lost $0.08 of every $1.00 you’ve just earned, unless you raise prices to adjust for the fees. With NYC, you receive a global currency. Anyone, from anywhere in the world, can use it and you receive the complete price for your item every time.
Every business may have individualized benefits that go beyond these key points as well. That is why NYC, and cryptocurrencies in general, must be given a closer look.
Why the Future Is Now with NYC
NewYorkCoin is the future because it is one of the easiest ways to begin embracing the many benefits of cryptocurrencies and altcoins. It offers real-world acceptance, with 100+ businesses in New York City already accepting it.
Transactions with NYC occur with a 30-second confirmation. Transfers make it possible for retail-level service globally, even for consumer transactions that are time-sensitive. The team behind NYC is growing, the network is secure and anonymous, and you can access wallets on a wide variety of operating systems.
You can download a wallet today for Windows, Mac, and Ubuntu. A paper wallet is also available. Android and iOS wallets are under development and will be available in the near future.
ATM access to NYC is also under development and is expected to be available in 2018.
You can join the growing list of businesses and brands that are accepting NYC right now. Join our free listing network to gain more exposure for your acceptance of NYC and realize the many benefits that come with the acceptance of cryptocurrency as soon as today.
 Hileman, Garrick. “Study Highlights Growing Significance of Cryptocurrencies.” University of Cambridge. May 4, 2017.