OUR MONEY IS CHANGING;
ARE YOU PAYING ATTENTION?
Believe it or not, but Bitcoin was actually created as a solution to our broken traditional financial system. It operates on a decentralized, peer-to-peer network, giving individuals and businesses control over their own money. Unlike traditional currencies, Bitcoin offers fast, secure, and low-cost transactions without the need for banks or intermediaries.
By adopting Bitcoin, you're not just embracing a new payment method—you're joining a movement towards a more open, transparent, and fair financial future. Whether you’re a business looking to offer flexible payment options or a consumer seeking greater control, Bitcoin is the key to a new era of finance.
Yes, it is legal to accept Bitcoin as payment in Sweden. Bitcoin is recognized as a digital asset and can be used for transactions. As with any other form of payment, businesses are free to accept Bitcoin for goods and services without any legal issues
Yes, Bitcoin payments are used globally by businesses and individuals. From online retailers to physical stores. Major companies like Microsoft, Overstock, and many restaurants, cafes, and retail stores now accept Bitcoin as a payment method. The adoption is steadily growing as more businesses recognize Bitcoin’s advantages, such as faster and cheaper cross-border transactions.
When you accept Bitcoin payments, the process is similar to any other transaction in terms of tax reporting. For example, if you receive a payment of 100 SEK in Bitcoin, you still need to report the value of the sale, including VAT, to the tax authorities. This means that 12% VAT (or the applicable rate) should be included in your tax calculations, just as it would for any other payment.
The key point is that you don’t need to sell off 12% of the Bitcoin you received; instead, you account for the VAT based on the total sale amount (in this case, 100 SEK). You use your cash register to record the VAT and pay it to the tax authorities, ensuring that your tax obligations are met, regardless of whether you keep the Bitcoin or convert it later.
No, it’s actually much easier than setting up your current POS system. Installing a Bitcoin POS system takes just a few minutes, and it simply connects to a digital wallet. Once set up, you’re ready to start accepting Bitcoin payments. The process is straightforward, and there’s no need for extensive technical knowledge. Most POS systems come with user-friendly interfaces and support to ensure a smooth transition for your business.
Not anymore! Bitcoin’s Lightning Network (LN) is designed to handle up to 1 million transactions per second, making it far faster than traditional payment systems. In comparison, Mastercard can process around 5,000 transactions per second. Thanks to this high transaction capacity, the Lightning Network can provide near-instant payments with extremely low fees—0.0029% on average, which is 1,000 times cheaper than Mastercard or Visa, who charge 2-3% per transaction. The Lightning Network's low fees and speed make it an ideal option for fast, cost-effective payments, even for smaller transactions.