One of the highest concerns we are faced with all the time is why do you prefer deposits in BTC over FIAT? Or why do you say the platform is Euro Base but you prefer deposits in BTC? Or Why do you say you are not a Cryptocurrency trading platform but take in Deposits in BTC?
All these are legitimate concerns and we know the reasoning behind these concerns, so today we would like to address why Masternoded prefers deposits in BTC over wire transfers or Credit Card deposits.
- First, we are a server rental company, meaning we do not hold funds in any segregated accounts or trade them. All funds from clients are used to purchase servers, pay to configure them and then rent them out. That said, BTC is the fastest way to get the money between suppliers and partners, as such this helps narrow the process of setting up a server from 03 weeks to only 07 days, because wire transfers take 3-7 days to get to us, and since we also work with other parties it may take an extra 07 days to get the funds to them, and then the 07 days needed to configure the servers. So, taking server funds in BTC helps us save two extra weeks and adds two more weeks of profitability to your server rental income.
- Secondly, with BTC there are no convertibility issues or exchange loss. This is so because €250 worth of BTC will hold the same value in any currency of the world. For example, as of today €250 is 0.0071 BTC. But 0.0071 BTC is $296.64 and, $296.64 is €249.97 without any fees, however if you send $296.64 euro via wire transfer you will lose about 2-4% on the exchange rate plus you will pay a wire fee of about $9-$15. Meaning in total you may lose up to $25 in fees and exchange convertibility. With BTC you save much on the fees. So, by accepting funding in BTC saves you money.
- Again, with BTC there are no chargebacks. A chargeback is one of the powers that credit card companies and banks hold over you or other companies. From previous experiences we have seen situations where clients used Amex or Visa to fund their server accounts and then went back to the credit card company to say they didn’t agree to that payment as a result the company will do a chargeback to our bank causing money to be taken out without our knowledge. This is not a good position because it affects our operations. However, with BTC there are no chargebacks. Meaning once you send it, you can’t do a charge back. This ensures that our books are balanced to reflect what was received.
- Funding from some countries is very restricted and very hard to get across borders. Some countries around the world do not allow or even if they do, they make wire transfers out of the country very difficult, and credit card deposits are only within the country, as such to reach those countries, BTC is preferable as it is a borderless mode of transaction and payment method.
- Reliable and Fast. BTC is reliable and fast. Once sent, it is received within minutes. And since it takes time to set up a server and rent it, we need this speed and reliability to enable us deliver on time.
We hope the above reasons will give you the peace you sought. If you have further questions, then join us on whatsapp here: https://chat.whatsapp.com/Gnjtp7SvKzP0s3SuM02aov and on Telegram here: https://t.me/joinchat/zNVHCvMGl7ozZWM0