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Small businesses turn to creative ways to survive during and post COVID-19

With the looming recession which is forecast by the majority of economists, Australia’s business owners are looking at creative ways to secure future customers and income.

A relatively new and innovative sales channel is to accept digital currencies from new customers. Businesses are turning to alternate forms of payment in numbers.

Qoin Australia attributed to leading international cryptocurrency experts that, “Today, more businesses and financial institutions are steadily beginning to adapt, adopt and become adept at cryptocurrency transactions”.

“Among those are smaller businesses that have begun to include digital currencies as a payment option for customers.”

“Qoin […] has seen a high adoption in its first few months. Businesses looking for additional ways to generate new customers and income have embraced Qoin with its merchant network growing by 50% per month since January this year,” said Andrew Barker, chief marketing officer of Qoin Australia.

“We estimate that Qoin will trade on an exchange later in 2020, giving the opportunity to those merchants currently earning Qoin, to sell part of their holdings in exchange for cash, provided there are willing buyers,” continued Barker.

With zero entry and transaction costs, Qoin is proving to be of interest in a world where nothing is normal anymore.

“Speaking with dozens of business owners every day, our team is seeing that fine line between their focus for survival and desire to open a new chapter for their business into the future,” Barker said.

“I admire and respect our business owners during this time and the tenacity they are showing. I hope that we can help them leverage the unique opportunity to turn their idle capacity into a growing asset.”

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