Terra Exports accepted their first Bitcoin transaction in early-November this year, when a customer in Singapore casually mentioned they were looking into using cryptocurrency at a business level. Terra Exports was happy to accept payment in Bitcoin, and were excited to learn more about this new form of currency in the process.
Nils Goldschmidt, President of Terra Exports, stated: “We’re all about entrepreneurial thinking and embracing change, so if that means we need to innovate on how we get paid, we are happy to do it.”
Since then, Terra Exports has received Bitcoin payment in 3 other occasions, from customers both in the US and in India.
Mr. Goldschmidt stated, “Personally I see cryptocurrency as a game-changer that’s here to stay, and what our customers need today. Our role as Terra Exports is to simplify and stream-line our customers’ purchasing needs, so they can in turn focus on what really matters to them. If accepting Bitcoin facilitates this, then we are happy and proud to say we are already making it happen.”
Terra Exports does a significant amount of their business with China and India. While they are aware Bitcoin is taking off significantly in both countries, they are not making it a point to switch entirely to cryptocurrency. Offering the ability to be paid in Bitcoin goes hand in hand with the company’s entrepreneurial vision, but it’s not something they are pushing onto customers.
When asked about the currency’s stability, Mr. Goldschmidt stated, “I’m not nervous about a bubble at all, because we’re not holding the coin and speculating (that’s not our business). As soon as we receive payment, we convert it to USD immediately and deposit the funds into our bank account. While we’re all about embracing change and innovation, we’re also quite risk-averse and fiscally-conservative.”
Terra Exports is using the currency as the mystery founder of Bitcoin, Satoshi Nakamoto, originally envisioned and published in 2008, describing Bitcoin as “a peer-to-peer electronic cash system”, an “electronic coin” that would replace money transfers that are currently controlled by the financial system.
Goldschmidt stated, “Accepting Bitcoin has really forced us to take a crash course on the entire crypto phenomenon, so if anything I can say we’ve learned a ton during the past few months. It has also helped our team reinforce our philosophy that we embrace change and enjoy the process. As far as our future goals, we will continue to accept payment in cryptocurrency as long as our customers require it.”
Contact:
Nina Tomaro
Tel: 440-596-8533