Invoicing Clients in Bitcoin: A Guide for Freelancers & Small Businesses

Why accept Bitcoins?

In 2014, Bill Gates, the co-founder of Microsoft, remarked, “Bitcoin is exciting,” and it is “better than currency” in the final speech at SIBOS 2014, the annual SWIFT banking conference held in Boston.

A decade later, his words are still relevant. Today, thousands of businesses rely on Bitcoin for their day-to-day transactions.  And why not? Cryptocurrencies have several advantages over fiat currencies. Here are a few reasons you should consider accepting Bitcoins:

• It’s cheaper to process when compared to other payment modes like credit cards/bank transfers.
• Unlike credit card payments, Bitcoin transactions are settled almost immediately,  irrespective of the location of the customer.
• A low barrier of entry makes Bitcoins easily accessible worldwide, even to unbanked citizens who have relatively low incomes.
• Bitcoin transactions cannot be reversed. This helps merchants prevent fraudulent chargebacks.
• There will be only 21 million Bitcoins to ever exist. This makes them scarce and prevents inflation.

How to send Bitcoin invoices with Speed?

Speed is an all-in-one Bitcoin payment processor that allows freelancers and businesses to accept Bitcoins in real time. With Speed, you can create and send professional Bitcoin invoices to your clients and customers in just a few clicks. Let’s understand how:

• First things first, you will need a Speed merchant account to send invoices. So, if you don’t have one, create it via this link.
• Once registered, log in to your account and head to Receive Payments > Invoices.
• On the ‘Invoices’ tab, click on ‘Create New’ to get started.
• Here, you will be able to add your customers, add item/service information, and edit the footer and memo section.

• You can also add your logo and icon, change brand color, and customize fonts to ensure the Bitcoin invoice resonates with your brand identity. To change the settings, head over to Dashboard > Settings > Business Settings > Branding. Here, you can select Invoice PDF and change the branding settings as per your preference.

• Once ready, you can preview and send the invoice directly to your customers via email right from the dashboard. Moreover, Speed lets you download the PDF invoice with just a few clicks.

You can also share the Bitcoin invoice link with your customers via social media applications. Customers will be able to complete the payment by scanning the payment QR with their preferred Bitcoin wallet.

Benefits of professional invoices

Professional invoices can set you apart from novices who collect payments in an ad-hoc fashion. Here are a few advantages of using professional invoices:

• They make bookkeeping easier. HMRC requires businesses to keep track of their financial transactions for up to six years and for the self-employed to retain the records of sales, income, and expenses for five years. Failing to present the records to the HMRC may incur a hefty fine for individuals and businesses.
• They portray your professionalism. A professional invoice can significantly improve customer experience. It shows your business runs on efficient processes and builds their trust in you. It also helps you stand out from your competitors.
• They make payments easy and timely. A well-crafted invoice will have a lot of important details, such as the invoice number, date of issuance, your company’s name and address, information about the product/service, due amount, and an overdue fee. When your customers have that information in one place, completing the payment gets easier. Moreover, a due date and overdue fee can create a sense of urgency for completing the payment.
• They keep your customers happy. Invoices can help you build trust in your customers. It also helps you verify a customer’s purchase in case they want to return/replace it later. For the customer, an invoice is like an assurance that you will stand by your commitment and help them in the future in case the product malfunctions.
• They keep you organized. While this may sound obvious, a good percentage of SMEs and freelancers don’t use invoices and end up losing a significant chunk of business due to lost productivity and inefficient payment methods. Sending invoices will help you keep track of all your payments, pending or otherwise.

Why use Speed invoices?

Speed offers one of the most customizable and user-friendly invoicing modules for businesses and freelancers seeking to accept Bitcoins. Here are a few things that set it apart from other similar alternatives:

Get started today

If you are seeking to accept Bitcoins, now is the right time to get started. Sign up with Speed today and start sending professional Bitcoin invoices to your customers anywhere around the world. With the lowest transaction fees, 99.99% uptime guarantee, and world-class customer support, Speed is undoubtedly one of the best Bitcoin payment processors on the internet. Register today for free to experience lightning-fast Bitcoin transactions with Speed. 

FAQs