Zen Ledger – a leader in digital currency tax software – has announced it is partnering with crypto payment processor Bit Pay so it can accept crypto payments for goods and services.
Zen Ledger and Bit Pay… A Perfect Match!
The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either speculative or even hedge-like statuses in recent years, many of them were initially designed to serve as payment tools. They were built to push checks, credit cards, and fiat currencies to the side, but this has been a relatively slow journey given the volatility that continues to drag them down.
It is extremely hard to understand when bitcoin and its crypto family will go up or down when it comes to their prices. Many stores and companies have been reluctant to say “yes” when it comes to accepting crypto payments for this reason, and to a degree, we can’t blame them.
Consider the following scenario: someone walks into a store and buys $50 worth of merchandise with bitcoin. For one reason or another, the store doesn’t trade the BTC into fiat right away and about 24 hours go by. From there, the price of BTC goes down and that $50 becomes $40. The customer gets to keep everything he or she bought, but the store has lost money in the end. Is this a fair situation? Not everyone thinks so.
That’s what makes enterprises like Zen Ledger so important. They understand the initial purposes of bitcoin and digital currencies and are trying to transform them into usable tools that everyday people can benefit from.
CEO and co-founder of the company Pat Larsen explained in a recent interview:
As a brand designed to support traders and those on the cutting edge of web3 Innovation, the decision to accept crypto payments using Bit Pay was easy. Our goal is to always facilitate the crypto experience for our users to save time and money. That means everything from tracking their transactions, to offering them the chance to use those funds for our services. We believe in the long-term growth and innovation in the industry, so this is the next step in making things easier for our customers.
Keeping Up with the Future of Payments
Merrick Theobald, vice president of marketing at Bit Pay, also threw his two cents into the mix, stating:
As the leading Crypto Tax Software, Zen Ledger is filling a need for consumers who want to buy, invest and spend crypto alongside other investment vehicles and still keep track of accounting and tax purposes. Our goal at Bit Pay is to make accepting crypto for Zen Ledger a seamless process and to help promote crypto adoption as we believe crypto is the future of payments.