Merchant Adoption Manual

[INSERT TITLE HERE]
Prepared for
[INSERT TARGET MERCHANTS NAME HERE]

Prepared by [Your Name or Company Name]
[Insert relevant postnomials and/or your business number here]

[Insert Date Here]
[INSERT TARGET MERCHANTS LOGO HERE]

Executive Summary
[Tailor this introductory paragraph specifically to your target merchant. Some good points to mention
are:
Merchants revenue and profit margin (if you can easily find this data)
How fee savings can greatly amplify profit margin (e.g. If a merchants profit margin is 5%,
adding a saving of 1% of fees to this figure increase profit margin by 1/5, or 20%!)]
In addition to reducing costs, accepting Bitcoin as a method of payment opens the door to new revenue
streams and allows your customers to pay you online and in person without needing to have a credit
card or local currency, which expose you and your customers to high international transaction and
foreign exchange fees. You can now capture this large market segment of people who cant get access
to credit cards, or who dont want to use them online. Furthermore, as part of this service offering,
[insert merchant name here] will receive free publicity in local and international Bitcoin publications,
which have readership in the hundreds of thousands of people on a daily basis.
Best of all, there are zero up-front costs, monthly fees, equipment fees, or account closure fees. The
most [INSERT MERCHANT NAME HERE] will ever pay is a flat 1% fee for processing transactions. You
dont need to know anything about Bitcoin, nor hold on to any the payment processor will take care
of everything for you. Your money, in your local currency, is in the bank the next day.
I look forward to forming a healthy and prosperous long-term business relationship with [INSERT
MERCHANT NAME HERE], and I look forward to assisting you implement Bitcoin as an additional
method of payment for your business.
Sincerely,

[Your name]
[Relevant postnomials]

E: [your e-mail address]
T: [your contact number]
[INSERT MERCHANT NAME HERE] COMMERCIAL-IN-CONFIDENCE June 2014

Table of Contents
Introduction ....................................................................................................................................................... 1
Free Service Offering ..................................................................................................................................... 1
About Me ....................................................................................................................................................... 1
What is Bitcoin? ................................................................................................................................................. 2
A Brief History ................................................................................................................................................ 2
Bitcoin is a Payment System .......................................................................................................................... 3
Bitcoin is Digital Gold ..................................................................................................................................... 3
Bitcoin is Digital Cash ..................................................................................................................................... 3
Bitcoin vs. Gold vs. Cash ................................................................................................................................ 4
How and where can I accept Bitcoin? ............................................................................................................... 5
At Point of Sale .............................................................................................................................................. 5
Online ............................................................................................................................................................ 5
Why do Merchants Love Bitcoin? ...................................................................................................................... 6
0% risk for a maximum 1% fee ...................................................................................................................... 6
Quick & free to set up, quick & free to shut down ........................................................................................ 6
Protection from Fraud and Chargebacks ....................................................................................................... 6
Keep Up With, and Stay Ahead of, Your Peers and Competitors .................................................................. 7
Improve Cash Flow ........................................................................................................................................ 7
Its the Most Environmentally Sustainable Payment System ........................................................................ 7
Lower Fees ..................................................................................................................................................... 8
Increases Local & International Marketing Exposure .................................................................................. 11
Offering Customers another Way to Pay is Always Good for Sales ............................................................ 11
Increases Your Product & Service Offerings ................................................................................................ 11
Why do Customers Love Bitcoin? .................................................................................................................... 12
Banking for the Unbanked ........................................................................................................................... 12
Security & Fraud Protection ........................................................................................................................ 12
Discretion & Privacy .................................................................................................................................... 13
Lower Fees ................................................................................................................................................... 13
Convenience, Global Mobility & Social Responsibility ................................................................................ 13
Investment Potential ................................................................................................................................... 14
Sample Press Release Coindesk.com ............................................................................................................ 15
Conclusion & Recommendations .................................................................................................................... 16
References ....................................................................................................................................................... 17

[your name here]


Introduction
Free Service Offering
The free services being offered to [INSERT MERCHANT NAME HERE] are as follows:
Provide a technical and commercial Bitcoin presentation and report to [INSERT MERCHANT NAME
HERE] management
Assist [INSERT MERCHANT NAME HERE] in implementation of Bitcoin as a method of payment at
physical locations and online
Promotion of [INSERT MERCHANT NAME HERE] on social and news media, including
o Promotion on Reddit.coms Bitcoin site (120,000 subscribers)
o Promotion on Coindesk.com (275,000 daily visitors) (Stat, 2014)
o Listing on global Bitcoin directory, Coinmap.org

About Me
[A small paragraph here about who you are, and why a merchant should trust you to help them with this
Bitcoin implementation. This could include your professional background, academic background, extra-
curricular background, or anything relevant to your target merchant]
Academic Qualifications
[Insert relevant qualifications here]
Professional Memberships, Qualifications & Licences
[Insert relevant memberships, qualifications and licences here]

[your name here] 1


What is Bitcoin?
A Brief History
Bitcoin is an economic technology and digital currency that was invented in November 2008 (Nakamoto,
2008) as a response to the crisis that crippled the international financial and credit markets earlier that year.
As Bitcoin continues to grow and be accepted as a method of payment and global digital currency, the
impacts of future financial crashes can be reduced, or even eliminated altogether.
With the invention of Bitcoin, merchants now have the option of increasing their profits, reducing their costs
and risks, and reaching new local and international markets all with the click of a few buttons. Several
Bitcoin investors and visionaries have also become very wealthy, after witnessing the value of one Bitcoin
rise from less than 5 cents in July 2010 to over $660 in June 2014 an astronomical rise of over 13,000 times
over 4 years. Its increase in value from June 2013 to June 2014 is an impressive increase of over 8 times from
about $80 per coin to over $660.
Bitcoin has sometimes been referred to as Magic Internet Money due to its technical complexity and
difficult-to-understand nature. The following sections of this proposal provide a more complete picture of
the breadth, power and robustness of Bitcoin as a technology and payment network.

Figure 1 - Bitcoin Price History Bitstamp Exchange (Bitcoin Charts, 2014)
[your name here] 2


Bitcoin is a Payment System
First and foremost, Bitcoin is an open-source online international payment system that is not controlled by
any central authorities. It is powered by an international network of volunteers called miners, who are
rewarded with Bitcoin for processing transactions. Transactions are processed by solving highly complicated
algorithms based on military-grade security and encryption using either standard home and office PCs, or
highly specialised computer equipment with much more processing power. Due to the distributed digital
nature of the network as well as the level of security that the Bitcoin network affords to its participants, it is
impossible to counterfeit or destroy Bitcoins, and transactions to and from anywhere on the planet are
effectively instant. All you need is an internet connected device to transact on the network.

Bitcoin is Digital Gold
As well as being a payment technology and network, each Bitcoin, which is currently divisible into 100 million
smaller parts, has value based on its scarce and indestructible nature, and obvious utility to merchants and
their customers. Just like gold, Bitcoins are mined, and over time they become increasingly difficult to mine
as scarcity and competition increase, eventually running out. There have been about 13 million Bitcoins
mined to date, and there will only ever be 21 million of them mined. Mining supply is perfectly predictable
thanks to Bitcoins protocol, with mining output halving every 4 years, eventually reaching zero. Bitcoins will
be mined until the year 2140, however, over 95% of all Bitcoins will have been mined during the next two
decades.

Bitcoin is Digital Cash
In additional to being similar to gold, Bitcoin is also very similar to cash in several ways, but electronically
superior to it. Several customers and merchants love cash because of the speed and anonymity it provides
over electronic payments. Bitcoin is identical in anonymity to cash in that, even though every single cash note
has a serial number on it, it is very difficult to trace a serial number or marked bill back to an individual. With
that said, authorities may still be able to track down bank robbers or money launderers if bills are marked.
Similarly, if a Bitcoin heist were to occur, a competent team of detectives may be able to trace and track
down a thief. For all other intents and purposes, Bitcoins are as anonymous a way to pay for things both
online and at physical points of sale as cash is, and payments are effectively instant. If Cash is King, then
Bitcoin is the Emperor!

[your name here] 3


Bitcoin vs. Gold vs. Cash
The below table serves as a great summary of Bitcoins superiority over gold and other international
currencies.
Bitcoin Gold Cash
Counterfeit-Proof Yes No No
Easy to carry around Yes No
Notes Yes (to an
extent)
Coins - No
Instantly internationally
transferrable &
spendable
Yes No No
Increases in value over
time
Yes Yes No
Easily divisible
Yes divisible to 100
million parts
Somewhat can be
physically split into
ounces and grams
Yes divisible into 100
cents
Accepted as payment
by merchants
Yes No Yes
Can be used as an
investment
Yes Yes No
Subject to control by
centralised authorities
No Yes Yes
Subject to high fees No Yes Yes
Can be created out of
thin air
No No Yes
Can be accepted online
without an
intermediary
Yes No No
Can be stolen from you
if you arent careful
Yes but becoming
more difficult as the
technology matures
Yes Yes
Can be destroyed No No Yes
Has a low
environmental & social
impact
Yes No No
Has other non-
monetary applications
Yes Yes No

[your name here] 4


How and where can I accept Bitcoin?
You can accept Bitcoin anywhere you have an internet connection, and on any website.
At Point of Sale
Accepting Bitcoin at a physical point of sale is a very simple two-step process. A typical Bitcoin POS system
is shown below.
Step 1

Log in to your merchant account on any internet
connected device (PC, Mac, Tablet or Smart
Phone), enter the sale amount in Australian
Dollars, and click Pay.

Each merchant account can have an unlimited
amount of users assigned to it, so additional POS
terminals can be rolled out free and instantly to
any other internet connected device.

Step 2

Once you click Pay, a unique QR code is
generated, which your customer then scans with
their phone. Once scanned, they payment is
complete, and payments are confirmed within a
few seconds.

Once payment is confirmed, the Bitcoins are
instantly converted to Australian Dollars for a flat
fee, and put into your nominated bank account
the next day.

Its that easy!

Online
Bitcoin payments can be integrated easily and
stylishly into any website or e-commerce platform,
and can be customised to look however the
merchant needs or desires.

Similar to the Point-of-Sales system, QR codes and
invoice numbers are generated for your online
sales.

[your name here] 5


Why do Merchants Love Bitcoin?
There are several reasons why merchants love Bitcoin, but the main reason they love it is because it increases
their profitability and revenue, and reduces their costs and risks. Details on how Bitcoin achieves all this are
provided below.
0% risk for a maximum 1% fee
At the current stage of Bitcoins technological life, the day-to-day price of Bitcoin can be more volatile than
a merchant is willing to accept. Thankfully, there are several local Bitcoin payment processors who are able
to instantly exchange your Bitcoins into Australian dollars at the moment of sale for a small fee of 1%, or as
low as 0.5% depending on your monthly transaction volumes. The money is deposited in your bank account
the next day. I have strong connections with several local payment processors, and will be able to get you set
up quickly and at no cost.
If a merchant decides to settle in Bitcoin, the fee is 0%, however, a merchant will be subject to the short-
term price volatility of Bitcoin in that situation.
Quick & free to set up, quick & free to shut down
Once the decision to accept Bitcoin has been made by a merchant, set-up time is about as quick as opening
up a bank account, and all you need is an internet connected device like a PC, laptop, tablet or smartphone
to start accepting Bitcoin. There are no establishment fees, equipment fees, monthly fees, or transaction
minimums. All you need is an internet connect device, and the payment processor will take care of the rest
for a maximum of a 1% fee.
Although it costs you nothing to set up and make Bitcoin payment available to your customers, if you ever
want to stop accepting Bitcoin for some reason, all you have to do is stop accepting it there is no need to
call anyone to cancel any plans, or pay service cancellation fees of any sort.
Protection from Fraud and Chargebacks
Credit card fraud costs the Australian economy billions of dollars annually, and the global economy a
staggering $190 billion per year (LexisNexis, 2013). A high proportion of this fraud is related to the use of
credit and debit cards. Every day, merchants are at risk of being paid with a fraudulent or stolen credit card,
and have to go through the slow, expensive and painstaking process of processing chargebacks.
Bitcoins are single use only, cannot be counterfeited, and cannot be charged back. Once the transaction is
processed, the money is in the merchants bank the next day. Guaranteed.
[your name here] 6


Leading international research firm LexisNexis estimates that merchants lose 0.51% of their revenue to online
fraud each year (LexisNexis, 2013). CyberSource, a unit of Visa Inc. and one of the largest international
providers of payment processing and risk management services, estimates the yearly loss to be 0.9%
(CyberSource, 2013). Although these figures appear quite small, when added to your bottom line, they result
in a significant increase to your profit margin.
Keep Up With, and Stay Ahead of, Your Peers and Competitors
Due to the obvious advantages Bitcoin brings to customers, several of your industry peers and competitors
have begun to accept Bitcoin as a method of payment. A few examples are listed below.
Example Peer/Competitor 1




Improve Cash Flow
It is frequently said that Cash Flow is More Important than Your Mother, and speeding up your days-
receivable ratio goes a long way to reducing your credit risk and increasing profitability. By accepting Bitcoin,
money is usually in your bank-account within 24 hours (depending on the availability of the legacy banking
system of course!). Merchants no longer have to spend time and energy chasing down payment processors
at the end of the month to get paid, nor do they have to wait 3-5 business to be paid by credit-card processors
or banks.
Its the Most Environmentally Sustainable Payment System
Comparing Bitcoin to our other forms of physical money like gold, notes and coins, Bitcoin is the clear winner.
Over 4 billion tonnes of rock need to be soaked in 810 billion litres of water with 400,000 tonnes of toxic
cyanide in it to extract the 2700 tonnes of gold we mine every year. Not to mention the quarter-of-a-million
[your name here] 7


tonnes of metal needed for coins, and the thousands of tonnes of cotton and linen for paper money. Bitcoin
only uses electricity, and only a little bit of it at that. The energy consumption and carbon emissions of the
three types of money are shown on the table below (McCook, 2014):
The Relative Sustainability of Money
Energy Used (GJ) Tonnes CO2 Produced
Gold Mining & Recycling 500 million 58 million
Physical Currency Printing & Minting 39.6 million 6.7 million
Bitcoin Mining 3.3 million 0.55 million

Lower Fees
Bitcoin vs. EFTPOS
The below table shows a comparison of typical fees paid for EFTPOS debit and credit card services, including
one EFTPOS terminal (Commonwealth Bank of Australia, 2014) compared with Bitcoin, for different monthly
transaction volumes.
Physical Mobile EFTPOS & EFTPOS Transactions
Monthly
Volume
Fixed Monthly
Fee
Bank Fee Rate
(%)
Avg.
Chargeback/
Fraud Rate (%)
Bitcoin
Comparison
Rate (%)
Yearly Savings
Addition to
Profit Margin
(%)
$1,000 $60 6.00% 0.90% 1.00% $708 5.90%
$2,000 $60 3.00% 0.90% 1.00% $696 2.90%
$3,000 $60 2.00% 0.90% 1.00% $684 1.90%
$6,000 $90 1.50% 0.90% 1.00% $1,008 1.40%
$9,000 $120 1.33% 0.90% 1.00% $1,332 1.23%
$12,000 $150 1.25% 0.90% 1.00% $1,656 1.15%
$15,000 $180 1.20% 0.90% 1.00% $1,980 1.10%
$30,000 $330 1.10% 0.90% 1.00% $3,600 1.00%
$60,000 $630 1.05% 0.90% 1.00% $7,200 1.00%
$100,000 $1,000 1.00% 0.90% 1.00% $12,000 1.00%
$1,000,000 $10,000 1.00% 0.90% 1.00% $168,000 0.90%

Other Fees
In addition to the above fees, merchants are liable for a monthly fee of $15 for every additional EFTPOS
terminal they require. There are no equipment fees in the world of Bitcoin.
[your name here] 8


Bitcoin vs. Online Credit Card Payments
The below table shows a comparison of typical fees paid to an online credit card payment processor
(Commonwealth Bank of Australia, 2014) compared with Bitcoin, for a monthly transaction volume of over
$150,000. [If your target merchant has a lower monthly transaction volume, use the fee rates found in the
accompanying spreadsheet]
Online Payments Processing - via Bank
Monthly Transaction
Volume
Over
$150,000
Transaction
Size
Per
Transaction
% Fee
Per
Transaction
Fixed Fee
Monthly
Fixed
Fee
Avg.
Chargeback/
Fraud Rate
(%)
Total Fees
(%)
Bitcoin
Comparison
Rate (%)
Savings Per
Transaction
($)
Savings Per
Transaction
(%)
$1 1.40% $0.29 $10 0.90% 31.30% 0.50% $0.31 30.80%
$2 1.40% $0.29 $10 0.90% 16.80% 0.50% $0.33 16.30%
$5 1.40% $0.29 $10 0.90% 8.10% 0.50% $0.38 7.60%
$10 1.40% $0.29 $10 0.90% 5.20% 0.50% $0.47 4.70%
$25 1.40% $0.29 $10 0.90% 3.46% 0.50% $0.74 2.96%
$50 1.40% $0.29 $10 0.90% 2.88% 0.50% $1.19 2.38%
$100 1.40% $0.29 $10 0.90% 2.59% 0.50% $2.09 2.09%
$500 1.40% $0.29 $10 0.90% 2.36% 0.50% $9.29 1.86%
$1,000 1.40% $0.29 $10 0.90% 2.33% 0.50% $18.29 1.83%

Other Fees
In addition to the above fees, merchants are liable to a $30 fee for every chargeback, as well as a $110 service
cancellation fee. These fees do not exist in the world of Bitcoin.

[your name here] 9


Bitcoin vs. PayPal
The below two tables show a comparison of typical fees paid to PayPal (PayPal, 2014) compared with Bitcoin,
for a monthly transaction volume of over $150,000. Fees are substantially higher for lower monthly
transaction volumes. As can be seen from the tables, payments from international customers are subject to
higher fees for merchants, and customers also typically have to pay a 2.5% foreign currency exchange fee if
making international purchases. There are no foreign exchange fees in the world of Bitcoin.
Local Customers
Online Payments Processing - via PayPal (Local Customers)
Monthly Transaction
Volume
Over
$150,000
Transaction
Size
Per
Transaction %
Fee
Per
Transaction
Fixed Fee
Avg.
Chargeback/
Fraud Rate
(%)
Total Fees
(%)
Bitcoin
Comparison
Rate (%)
Savings Per
Transaction
($)
Savings Per
Transaction
(%)
$1 1.10% $0.30
0.90%
32.00% 0.50% $0.32 31.50%
$2 1.10% $0.30
0.90%
17.00% 0.50% $0.33 16.50%
$5 1.10% $0.30
0.90%
8.00% 0.50% $0.38 7.50%
$10 1.10% $0.30
0.90%
5.00% 0.50% $0.45 4.50%
$25 1.10% $0.30
0.90%
3.20% 0.50% $0.68 2.70%
$50 1.10% $0.30
0.90%
2.60% 0.50% $1.05 2.10%
$100 1.10% $0.30
0.90%
2.30% 0.50% $1.80 1.80%
$500 1.10% $0.30
0.90%
2.06% 0.50% $7.80 1.56%
$1,000 1.10% $0.30
0.90%
2.03% 0.50% $15.30 1.53%

International Customers
Online Payments Processing - via PayPal (International Customers)
Monthly Transaction
Volume
Over
$150,000
Transaction
Size
Per
Transaction %
Fee
Per
Transaction
Fixed Fee
Avg.
Chargeback/
Fraud Rate
(%)
Total Fees
(%)
Bitcoin
Comparison
Rate (%)
Savings Per
Transaction
($)
Savings Per
Transaction
(%)
$1 2.10% $0.30 0.90% 33.00% 0.50% $0.33 32.50%
$2 2.10% $0.30 0.90% 18.00% 0.50% $0.35 17.50%
$5 2.10% $0.30 0.90% 9.00% 0.50% $0.43 8.50%
$10 2.10% $0.30 0.90% 6.00% 0.50% $0.55 5.50%
$25 2.10% $0.30 0.90% 4.20% 0.50% $0.93 3.70%
$50 2.10% $0.30 0.90% 3.60% 0.50% $1.55 3.10%
$100 2.10% $0.30 0.90% 3.30% 0.50% $2.80 2.80%
$500 2.10% $0.30 0.90% 3.06% 0.50% $12.80 2.56%
$1,000 2.10% $0.30 0.90% 3.03% 0.50% $25.30 2.53%
Other Fees
In addition to the above fees, merchants are liable for a $15 fee for every chargeback. There are no
chargebacks in the world of Bitcoin.
[your name here] 10


Increases Local & International Marketing Exposure
The Bitcoin community is a vibrant, eclectic and rapidly growing one. To date, several million people have
opened Bitcoin accounts locally and internationally. Coinbase, the USAs leading Bitcoin provider, witnessed
growth from 13,000 users in 2013, to 1.3 million users in June 2014 a yearly growth rate of 10,000%!
(Coinbase, 2014). Blockchain.info has seen 1.6 million users create accounts since their founding in early
2012, with 1.3 million of those accounts coming online in the past year (Blockchain.info, 2014). Due to
Bitcoins popularity means that there is a thriving ecosystem underpinning it, with the most popular Bitcoin
news sites receiving monthly website hits in the tens of millions. As a merchant who accepts Bitcoin, you will
be embraced by the community, and receive free exposure through press releases, tweets, and blog posts.
Further to the above, when you become a Bitcoin merchant, simply adding Bitcoin to your websites Search
Engine Optimisation (SEO) will increase your exposure through search engines, especially if you are one of
the early movers in your industry. Try it yourself just Google Bitcoin [Insert business / product / service
type here] and take a look.
Offering Customers another Way to Pay is Always Good for Sales
In the early days of credit cards, businesses who didnt offer the customers a means of paying by card lost
lots of potential business. The benefits of accepting credit cards back then were (Burke, 2005):
Makes it more convenient for
your customers to pay you
Generally increases sales
Increases credibility
Increases Impulse purchases
Increases average sales
order
Accepting Bitcoin provides merchants with all of the above benefits, but without the high fees, and fraud and
chargeback risks. Also, if your customers dont have access to a credit card or PayPal address (or, simply dont
want to use their credit card), theyll be able to pay you!
Increases Your Product & Service Offerings
Several businesses hesitate selling cheap physical and digital goods online due to the high fees associated
with micropayments. As shown in the Fees section above, selling a digital product for $5 attracts 8.5% worth
of fees. Considering digital content like music, e-books, gift vouchers and the like frequently sell for a small
amount, you can safeguard a much greater portion of your margin by accepting bitcoin, which has a
maximum fee of 1%, regardless of the transaction size.

[your name here] 11


Why do Customers Love Bitcoin?
Banking for the Unbanked
While credit cards are quite common in Australia and other rich countries, credit cards, or even bank
accounts, are simply not very common at all for a huge chunk of the human population. A study undertaken
by leading research institute Gallup, shown below, shows the extent of problem (Gallup, 2012).
Credit Card Ownership, by Region (Geographical regions include developing economies only)
Region % who have a credit card
High-income Economies 50%
Latin America & the Caribbean 18%
Europe & Central Asia 16%
East Asia and Pacific 7%
Sub-Saharan Africa 3%
Middle East & North Africa 2%
South Asia 2%
Many of these people would love to participate in the online economy, but until Bitcoin was invented, had
very limited options. The minimum that is required is the most primitive of 2G or GPRS internet connections
and a $10 dumb-phone, and Bitcoins can be transmitted from one person to another (37coins, 2014).
Security & Fraud Protection
The internet can be a scary place, and not all consumers feel comfortable with handing over their credit card
information to merchants they dont know. With that said, even the most trusted of sellers and the largest
of online merchants are not safe from hackers breaking into their customer databases and stealing customer
credit card information. Six of the biggest-ever credit card hacks are shown below (CNN Money, 2013):
Merchant Number of Credit Card Details Obtained by Hackers
Adobe Systems 150 Million
Heartland Payment Systems 130 Million
TJ Maxx 94 Million
Sears 90 Million
Sony 77 Million
Target 50 Million
The risk of theft of personal financial information simply doesnt exist in the world of Bitcoin. Once you pay,
your Bitcoin is spent and no information can be reused by malicious parties.
[your name here] 12


Discretion & Privacy
Several people today are concerned with their online privacy for one reason or another. Typically, when you
purchase something with your credit card, details of your payments and who you paid money to are
permanently recorded on your bank statements. Whilst this is OK for most consumers, several consumers do
not like leaving an electronic paper trail which catalogues their movements and expenditures.
Because of Bitcoins cash-like nature, there is no easily identifiable electronic paper-trail left behind after a
transaction is made, giving consumers the privacy and discretion they yearn for.

Lower Fees
Not only do merchants pay high fees for accepting online and point-of-sale payments, customers also face
several local and international fees as part of the legacy banking and credit card systems. Several banks
charge monthly account keeping fees, and most credit cards charge an annual subscription fee. On top of
this, international customers are liable for expensive international transaction and foreign exchange fees
every time they make a purchase whilst outside of their home country.
All of these fees are avoided when paying in Bitcoin.

Convenience, Global Mobility & Social Responsibility
One of the least convenient things for international customers and travellers is the hassle, cost and risk of
currency conversion. Whilst most cities in the world are well regulated and safe places, several arent, and
travellers face the risk of dishonest foreign exchange merchants, as well as the additional risk of carrying
large amounts of cash in potentially unsafe places.
Bitcoin can be held on a mobile phone, and so long as the phone and Bitcoin wallet are locked with a PIN and
password, you are safe from theft. If your phone happens to be stolen during your travels, your Bitcoins can
be easily restored to any other device if they have been backed up.
In addition to this, citizens of several of the Worlds poorest countries face exorbitant fees of over 20% when
remitting money from their country of work back home to their country of origin. Typical remittance costs
for a $200 and $500 transfer are shown in the tables below. As can be seen, in the best case, fees are 1.73%
and 1.2% respectively, but in the worst case, they are 21.06% and 13.44% respectively (World Bank, 2014).
The global average cost of a remittance is 8.36% of the amount sent (World Bank, 2014).
These fees do not exist in the world of Bitcoin.
[your name here] 13


Fee % for a Remittance of USD$200
5 Most Costly Corridors ($USD) Average Cost

5 Least Costly Corridors ($USD) Average Cost
South Africa > Zambia 21.06% Saudi Arabic > Pakistan 1.73%
South Africa > Botswana 20.18% Singapore > Thailand 2.05%
South Africa > Mozambique 19.81% UAE > India 2.68%
South Africa > Zimbabwe 19.55% UAE > Sri Lanka 2.87%
South Africa > Malawi 19.51% Singapore > Bangladesh 3.03%

Fee % for a Remittance of USD$500
5 Most Costly Corridors ($USD) Average Cost

5 Least Costly Corridors ($USD) Average Cost
South Africa > Malawi 13.44% Saudi Arabic > Pakistan 1.20%
South Africa > Zambia 13.36% UAE > India 1.46%
South Africa > Botswana 12.69% UAE > Sri Lanka 1.48%
South Africa > Mozambique 12.27% UAE > Philippines 1.65%
South Africa > Zimbabwe 11.23% USA > India 1.71%

Investment Potential
While Bitcoin is sometimes unfairly panned in the media for being too volatile and causing damaging losses
to investors, the statistics and numbers speak for themselves. The below two tables shows performance of
Bitcoin as an asset class for the 2014 year to date, the past month, 3 months, year, and 3 years (Bitcoin Charts,
2014) in comparison with the ASX200 (Reuters, 2014). As can be seen in the table, Bitcoin has consistently
outperformed the Australian Stock Market significantly over the past 3 years. Volatility has meant that Year-
to-date performance has been weaker than the stock market, however, over longer investment periods,
Bitcoin has always proven to be a superior asset. Returns are based on a closing Bitcoin Price of USD$661.22
on June 1, 2014.
Investment Period Bitcoin Return ASX200 Return
1 Month (May 1, 2014) +44.2% +2.0%
3 Months (March 1, 2014) +18.8% +3.1%
1 Year (June 1, 2013) +416.0% +12.6%
3 Years (June 1, 2011) +7079.4% +18.9%
Year-To-Date (Jan 1, 2014) -11.3% +5.0%

[your name here] 14


Sample Press Release Coindesk.com
[INSERT MERCHANT NAME HERE] Becomes First [insert business type here] To Accept Bitcoin!
[Write a few paragraphs about the merchant there are several great examples on Coindesk.com. A good
estimate of article length is 1 page in MS Word at 1.5 spacing]

[your name here] 15


Conclusion & Recommendations
There are no disadvantages, costs or risks involved accepting Bitcoin as a method of payment, and there are
significant upsides in the way of marketing exposure and cost and risk reduction. You can be up and running
in a matter of days in partnership with a fully licenced, regulated and trustworthy payment processing
provider. Once you are set up, marketing can commence immediately, all at a cost to you of $0.
It is also recommended that you use this as an opportunity to reach out to your existing customers, and
demonstrate your commitment to giving your customers more options and services, as well as your
leadership in the digital age.
If you would like more information, or would like to immediately start accepting Bitcoin, please do not
hesitate to get in touch with me for a hassle and fee free implementation.

Sincerely,

[Your name here]
[Relevant postnomials]

E: [your e-mail address]
T: [your contact number]
[your name here] 16


References
37coins, 2014. 37coins corporate website. [Online]
Available at: https://www.37coins.com/
[Accessed 11 June 2014].
Bitcoin Charts, 2014. Bitcoin Price Performance. [Online]
Available at: http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
Blockchain.info, 2014. Number Of Users. [Online]
Available at: https://blockchain.info/charts/my-wallet-n-
users?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=1&addres
s=
Burke, S., 2005. Accepting Credit Cards - Positives vs. Negatives. [Online]
Available at: http://www.smallbusinessbrief.com/articles/merchant_accounts/003644.html
CNN Money, 2013. 5 of the biggest-ever credit card hacks. [Online]
Available at: http://money.cnn.com/gallery/technology/security/2013/12/19/biggest-credit-card-hacks/
[Accessed 20 May 2014].
Coinbase, 2014. About Coinbase. [Online]
Available at: https://coinbase.com/about
Commonwealth Bank of Australia, 2014. CommWeb Online Merchant Service & Fees. [Online]
Available at: https://www.commbank.com.au/business/merchant-services/help-me-choose-
tool.html##slide_3
CyberSource, 2013. 2013 Online Fraud Report, s.l.: CyberSource.
Gallup, 2012. Credit Cards and Formal Loans Rare in Developing Countries. [Online]
Available at: http://www.gallup.com/poll/154340/credit-cards-formal-loans-rare-developing-countries.aspx
LexisNexis, 2013. 2013 LexisNexis True Cost of Fraud Study, s.l.: LexisNexis.
McCook, H., 2014. An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network,
Sydney: Bitscan.
Nakamoto, S., 2008. Bitcoin: A Peer-to-Peer Electronic Cash System. [Online]
Available at: http://bitcoin.org/bitcoin.pdf
[Accessed 15 December 2013].
PayPal, 2014. Combined Financial Services Guide and Product Disclosure Statement. [Online]
Available at: https://www.paypal.com/webapps/mpp/ua/cfsgpds-full?country.x=AU#18_Fees_and_charges
[your name here] 17


Reuters, 2014. ASX 200 Performance Data. [Online]
Available at: http://www.reuters.com/finance/stocks/chart?symbol=STW.AX
World Bank, 2014. An Analysis of Trends in the Average Total Cost of Migrant Remittance Services. [Online]
Available at: https://remittanceprices.worldbank.org/sites/default/files/RPW_Report_Mar2014.pdf
World Bank, 2014. Remittance Prices Worldwide. [Online]
Available at: https://remittanceprices.worldbank.org/en
Stat, 2014. Coindesk.com Website Analytics. [Online]
Available at: http://www.mustat.com/coindesk.com

[your name here] 18

APPENDIX
TABLES AND
FIGURES

(PRICE DATA CHART, FEE RATES FOR
VARYING MONTHLY VOLUMES & PRICE
PERFORMANCE TABLES - SEE
ATTACHED SPREADSHEET)
DataSource: http://bitcoincharts.com/charts/bitstampUSD#rg10zigDailyztgSzm1g10zm2g25zv
Date BitcoinPrice
6/06/2014 $659.12
5/06/2014 $661.48
4/06/2014 $640.59
3/06/2014 $670.14
2/06/2014 661.22 $
1/06/2014 630.99 $
31/05/2014 627.00 $
30/05/2014 621.00 $
29/05/2014 568.87 $
28/05/2014 573.82 $
27/05/2014 574.02 $
26/05/2014 581.99 $
25/05/2014 565.30 $
24/05/2014 521.93 $
23/05/2014 531.75 $
22/05/2014 514.23 $
21/05/2014 495.17 $
20/05/2014 475.49 $
19/05/2014 446.31 $
18/05/2014 447.43 $
17/05/2014 448.39 $
16/05/2014 448.78 $
15/05/2014 449.11 $
14/05/2014 444.30 $
13/05/2014 437.20 $
Thenclickon"Loadrawdata"atthebottomleftofthechart
Thetimeperiodyoushoulduseis"Daily",andthepriceyourecordshouldbetheclosingprice.
Don'tforgettoupdatethedataseriesinthechartwithyourupdateddata,ortoadd/removedatalabels
$661.22
$1,132.29
$214.86
$29.58
$0.05
$0
$0
$1
$10
$100
$1,000
$10,000
Jan10 Jul10 Jan11 Jul11 Jan12 Jul12 Jan13 Jul13 Jan14 Jun14 Dec14
P
r
i
c
e
(
L
o
g
S
c
a
l
e
)
Date
BitcoinPriceHistory(USDollars)
Monthly
Volume
YearlyVolume
FixedMonthly
Fee
BankFeeRate
(%)
Avg.
Chargeback/
FraudRate(%)
Bitcoin
Comparison
Rate(%)
Yearly
Savings
Additionto
ProfitMargin
(%)
$1,000 $12,000 $60 6.00% 0.90% 1.00% $708 5.90%
$2,000 $24,000 $60 3.00% 0.90% 1.00% $696 2.90%
$3,000 $36,000 $60 2.00% 0.90% 1.00% $684 1.90%
$6,000 $72,000 $90 1.50% 0.90% 1.00% $1,008 1.40%
$9,000 $108,000 $120 1.33% 0.90% 1.00% $1,332 1.23%
$12,000 $144,000 $150 1.25% 0.90% 1.00% $1,656 1.15%
$15,000 $180,000 $180 1.20% 0.90% 1.00% $1,980 1.10%
$30,000 $360,000 $330 1.10% 0.90% 1.00% $3,600 1.00%
$60,000 $720,000 $630 1.05% 0.90% 1.00% $6,840 0.95%
$100,000 $1,200,000 $1,000 1.00% 0.90% 1.00% $10,800 0.90%
Upto$5000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
MonthlyFixed
Fee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction($)
SavingsPer
Transaction(%)
$1 1.40% $0.29 $10 0.90% 31.30% 1.00% $0.30 30.30%
$2 1.40% $0.29 $10 0.90% 16.80% 1.00% $0.32 15.80%
$5 1.40% $0.29 $10 0.90% 8.10% 1.00% $0.36 7.10%
$10 1.40% $0.29 $10 0.90% 5.20% 1.00% $0.42 4.20%
$25 1.40% $0.29 $10 0.90% 3.46% 1.00% $0.62 2.46%
$50 1.40% $0.29 $10 0.90% 2.88% 1.00% $0.94 1.88%
$100 1.40% $0.29 $10 0.90% 2.59% 1.00% $1.59 1.59%
$500 1.40% $0.29 $10 0.90% 2.36% 1.00% $6.79 1.36%
$1,000 1.40% $0.29 $10 0.90% 2.33% 1.00% $13.29 1.33%
Upto$5000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction
($)
SavingsPer
Transaction(%)
$1 2.40% $0.30 0.90% 33.30% 1.00% $0.32 32.30%
$2 2.40% $0.30 0.90% 18.30% 1.00% $0.35 17.30%
$5 2.40% $0.30 0.90% 9.30% 1.00% $0.42 8.30%
$10 2.40% $0.30 0.90% 6.30% 1.00% $0.53 5.30%
$25 2.40% $0.30 0.90% 4.50% 1.00% $0.88 3.50%
$50 2.40% $0.30 0.90% 3.90% 1.00% $1.45 2.90%
$100 2.40% $0.30 0.90% 3.60% 1.00% $2.60 2.60%
$500 2.40% $0.30 0.90% 3.36% 1.00% $11.80 2.36%
$1,000 2.40% $0.30 0.90% 3.33% 1.00% $23.30 2.33%
Upto$5000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction
($)
SavingsPer
Transaction(%)
$1 3.40% $0.30 0.90% 34.30% 1.00% $0.33 33.30%
$2 3.40% $0.30 0.90% 19.30% 1.00% $0.37 18.30%
$5 3.40% $0.30 0.90% 10.30% 1.00% $0.47 9.30%
$10 3.40% $0.30 0.90% 7.30% 1.00% $0.63 6.30%
$25 3.40% $0.30 0.90% 5.50% 1.00% $1.13 4.50%
$50 3.40% $0.30 0.90% 4.90% 1.00% $1.95 3.90%
$100 3.40% $0.30 0.90% 4.60% 1.00% $3.60 3.60%
$500 3.40% $0.30 0.90% 4.36% 1.00% $16.80 3.36%
$1,000 3.40% $0.30 0.90% 4.33% 1.00% $33.30 3.33%
OnlinePaymentsProcessingviaPayPal(LocalCustomers)
MonthlyTransaction
Volume
MonthlyTransaction
Volume
OnlinePaymentsProcessingviaBank MonthlyTransactionVolume
OnlinePaymentsProcessingviaPayPal(InternationalCustomers)
Upto$5000 FeeComparisonforMonthlyTransactionVolumesof:
PhyiscalMobileEFTPOS&EFTPOSTransactions
Monthly
Volume
YearlyVolume
FixedMonthly
Fee
BankFeeRate
(%)
Avg.
Chargeback/
FraudRate(%)
Bitcoin
Comparison
Rate(%)
Yearly
Savings
Additionto
ProfitMargin
(%)
$1,000 $12,000 $60 6.00% 0.90% 1.00% $708 5.90%
$2,000 $24,000 $60 3.00% 0.90% 1.00% $696 2.90%
$3,000 $36,000 $60 2.00% 0.90% 1.00% $684 1.90%
$6,000 $72,000 $90 1.50% 0.90% 1.00% $1,008 1.40%
$9,000 $108,000 $120 1.33% 0.90% 1.00% $1,332 1.23%
$12,000 $144,000 $150 1.25% 0.90% 1.00% $1,656 1.15%
$15,000 $180,000 $180 1.20% 0.90% 1.00% $1,980 1.10%
$30,000 $360,000 $330 1.10% 0.90% 1.00% $3,600 1.00%
$60,000 $720,000 $630 1.05% 0.90% 1.00% $6,840 0.95%
$100,000 $1,200,000 $1,000 1.00% 0.90% 1.00% $10,800 0.90%
$5000$15000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
MonthlyFixed
Fee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction($)
SavingsPer
Transaction(%)
$1 1.40% $0.29 $10 0.90% 31.30% 1.00% $0.30 30.30%
$2 1.40% $0.29 $10 0.90% 16.80% 1.00% $0.32 15.80%
$5 1.40% $0.29 $10 0.90% 8.10% 1.00% $0.36 7.10%
$10 1.40% $0.29 $10 0.90% 5.20% 1.00% $0.42 4.20%
$25 1.40% $0.29 $10 0.90% 3.46% 1.00% $0.62 2.46%
$50 1.40% $0.29 $10 0.90% 2.88% 1.00% $0.94 1.88%
$100 1.40% $0.29 $10 0.90% 2.59% 1.00% $1.59 1.59%
$500 1.40% $0.29 $10 0.90% 2.36% 1.00% $6.79 1.36%
$1,000 1.40% $0.29 $10 0.90% 2.33% 1.00% $13.29 1.33%
$5000$15000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction
($)
SavingsPer
Transaction(%)
$1 2.00% $0.30 0.90% 32.90% 1.00% $0.32 31.90%
$2 2.00% $0.30 0.90% 17.90% 1.00% $0.34 16.90%
$5 2.00% $0.30 0.90% 8.90% 1.00% $0.40 7.90%
$10 2.00% $0.30 0.90% 5.90% 1.00% $0.49 4.90%
$25 2.00% $0.30 0.90% 4.10% 1.00% $0.78 3.10%
$50 2.00% $0.30 0.90% 3.50% 1.00% $1.25 2.50%
$100 2.00% $0.30 0.90% 3.20% 1.00% $2.20 2.20%
$500 2.00% $0.30 0.90% 2.96% 1.00% $9.80 1.96%
$1,000 2.00% $0.30 0.90% 2.93% 1.00% $19.30 1.93%
$5000$15000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction
($)
SavingsPer
Transaction(%)
$1 3.00% $0.30 0.90% 33.90% 1.00% $0.33 32.90%
$2 3.00% $0.30 0.90% 18.90% 1.00% $0.36 17.90%
$5 3.00% $0.30 0.90% 9.90% 1.00% $0.45 8.90%
$10 3.00% $0.30 0.90% 6.90% 1.00% $0.59 5.90%
$25 3.00% $0.30 0.90% 5.10% 1.00% $1.03 4.10%
$50 3.00% $0.30 0.90% 4.50% 1.00% $1.75 3.50%
$100 3.00% $0.30 0.90% 4.20% 1.00% $3.20 3.20%
$500 3.00% $0.30 0.90% 3.96% 1.00% $14.80 2.96%
$1,000 3.00% $0.30 0.90% 3.93% 1.00% $29.30 2.93%
MonthlyTransaction
Volume
MonthlyTransaction
Volume
$5000$15000 FeeComparisonforMonthlyTransactionVolumesof:
Monthly
Volume
YearlyVolume
FixedMonthly
Fee
BankFeeRate
(%)
Avg.
Chargeback/
FraudRate(%)
Bitcoin
Comparison
Rate(%)
Yearly
Savings
Additionto
ProfitMargin
(%)
$1,000 $12,000 $60 6.00% 0.90% 1.00% $708 5.90%
$2,000 $24,000 $60 3.00% 0.90% 1.00% $696 2.90%
$3,000 $36,000 $60 2.00% 0.90% 1.00% $684 1.90%
$6,000 $72,000 $90 1.50% 0.90% 1.00% $1,008 1.40%
$9,000 $108,000 $120 1.33% 0.90% 1.00% $1,332 1.23%
$12,000 $144,000 $150 1.25% 0.90% 1.00% $1,656 1.15%
$15,000 $180,000 $180 1.20% 0.90% 1.00% $1,980 1.10%
$30,000 $360,000 $330 1.10% 0.90% 1.00% $3,600 1.00%
$60,000 $720,000 $630 1.05% 0.90% 1.00% $6,840 0.95%
$100,000 $1,200,000 $1,000 1.00% 0.90% 1.00% $10,800 0.90%
$15000
$150000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
MonthlyFixed
Fee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction($)
SavingsPer
Transaction(%)
$1 1.40% $0.29 $10 0.90% 31.30% 1.00% $0.30 30.30%
$2 1.40% $0.29 $10 0.90% 16.80% 1.00% $0.32 15.80%
$5 1.40% $0.29 $10 0.90% 8.10% 1.00% $0.36 7.10%
$10 1.40% $0.29 $10 0.90% 5.20% 1.00% $0.42 4.20%
$25 1.40% $0.29 $10 0.90% 3.46% 1.00% $0.62 2.46%
$50 1.40% $0.29 $10 0.90% 2.88% 1.00% $0.94 1.88%
$100 1.40% $0.29 $10 0.90% 2.59% 1.00% $1.59 1.59%
$500 1.40% $0.29 $10 0.90% 2.36% 1.00% $6.79 1.36%
$1,000 1.40% $0.29 $10 0.90% 2.33% 1.00% $13.29 1.33%
$15000
$150000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction
($)
SavingsPer
Transaction(%)
$1 1.50% $0.30 0.90% 32.40% 1.00% $0.31 31.40%
$2 1.50% $0.30 0.90% 17.40% 1.00% $0.33 16.40%
$5 1.50% $0.30 0.90% 8.40% 1.00% $0.37 7.40%
$10 1.50% $0.30 0.90% 5.40% 1.00% $0.44 4.40%
$25 1.50% $0.30 0.90% 3.60% 1.00% $0.65 2.60%
$50 1.50% $0.30 0.90% 3.00% 1.00% $1.00 2.00%
$100 1.50% $0.30 0.90% 2.70% 1.00% $1.70 1.70%
$500 1.50% $0.30 0.90% 2.46% 1.00% $7.30 1.46%
$1,000 1.50% $0.30 0.90% 2.43% 1.00% $14.30 1.43%
$15000
$150000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction
($)
SavingsPer
Transaction(%)
$1 2.50% $0.30 0.90% 33.40% 1.00% $0.32 32.40%
$2 2.50% $0.30 0.90% 18.40% 1.00% $0.35 17.40%
$5 2.50% $0.30 0.90% 9.40% 1.00% $0.42 8.40%
$10 2.50% $0.30 0.90% 6.40% 1.00% $0.54 5.40%
$25 2.50% $0.30 0.90% 4.60% 1.00% $0.90 3.60%
$50 2.50% $0.30 0.90% 4.00% 1.00% $1.50 3.00%
$100 2.50% $0.30 0.90% 3.70% 1.00% $2.70 2.70%
$500 2.50% $0.30 0.90% 3.46% 1.00% $12.30 2.46%
$1,000 2.50% $0.30 0.90% 3.43% 1.00% $24.30 2.43%
MonthlyTransaction
Volume
MonthlyTransaction
Volume
$15000$150000 FeeComparisonforMonthlyTransactionVolumesof:
Monthly
Volume
YearlyVolume
FixedMonthly
Fee
BankFeeRate
(%)
Avg.
Chargeback/
FraudRate(%)
Bitcoin
Comparison
Rate(%)
Yearly
Savings
Additionto
ProfitMargin
(%)
$1,000 $12,000 $60 6.00% 0.90% 1.00% $708 5.90%
$2,000 $24,000 $60 3.00% 0.90% 1.00% $696 2.90%
$3,000 $36,000 $60 2.00% 0.90% 1.00% $684 1.90%
$6,000 $72,000 $90 1.50% 0.90% 1.00% $1,008 1.40%
$9,000 $108,000 $120 1.33% 0.90% 1.00% $1,332 1.23%
$12,000 $144,000 $150 1.25% 0.90% 1.00% $1,656 1.15%
$15,000 $180,000 $180 1.20% 0.90% 1.00% $1,980 1.10%
$30,000 $360,000 $330 1.10% 0.90% 1.00% $3,600 1.00%
$60,000 $720,000 $630 1.05% 0.90% 1.00% $6,840 0.95%
$100,000 $1,200,000 $1,000 1.00% 0.90% 1.00% $10,800 0.90%
>$150000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
MonthlyFixed
Fee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction($)
SavingsPer
Transaction(%)
$1 1.40% $0.29 $10 0.90% 31.30% 1.00% $0.30 30.30%
$2 1.40% $0.29 $10 0.90% 16.80% 1.00% $0.32 15.80%
$5 1.40% $0.29 $10 0.90% 8.10% 1.00% $0.36 7.10%
$10 1.40% $0.29 $10 0.90% 5.20% 1.00% $0.42 4.20%
$25 1.40% $0.29 $10 0.90% 3.46% 1.00% $0.62 2.46%
$50 1.40% $0.29 $10 0.90% 2.88% 1.00% $0.94 1.88%
$100 1.40% $0.29 $10 0.90% 2.59% 1.00% $1.59 1.59%
$500 1.40% $0.29 $10 0.90% 2.36% 1.00% $6.79 1.36%
$1,000 1.40% $0.29 $10 0.90% 2.33% 1.00% $13.29 1.33%
>$150000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction
($)
SavingsPer
Transaction(%)
$1 1.10% $0.30 0.90% 32.00% 1.00% $0.31 31.00%
$2 1.10% $0.30 0.90% 17.00% 1.00% $0.32 16.00%
$5 1.10% $0.30 0.90% 8.00% 1.00% $0.35 7.00%
$10 1.10% $0.30 0.90% 5.00% 1.00% $0.40 4.00%
$25 1.10% $0.30 0.90% 3.20% 1.00% $0.55 2.20%
$50 1.10% $0.30 0.90% 2.60% 1.00% $0.80 1.60%
$100 1.10% $0.30 0.90% 2.30% 1.00% $1.30 1.30%
$500 1.10% $0.30 0.90% 2.06% 1.00% $5.30 1.06%
$1,000 1.10% $0.30 0.90% 2.03% 1.00% $10.30 1.03%
>$150000
Transaction
Size
PerTransaction
%Fee
Per
Transaction
FixedFee
Avg.
Chargeback/
FraudRate(%)
TotalFees(%)
Bitcoin
Comparison
Rate(%)
SavingsPer
Transaction
($)
SavingsPer
Transaction(%)
$1 2.10% $0.30 0.90% 33.00% 1.00% $0.32 32.00%
$2 2.10% $0.30 0.90% 18.00% 1.00% $0.34 17.00%
$5 2.10% $0.30 0.90% 9.00% 1.00% $0.40 8.00%
$10 2.10% $0.30 0.90% 6.00% 1.00% $0.50 5.00%
$25 2.10% $0.30 0.90% 4.20% 1.00% $0.80 3.20%
$50 2.10% $0.30 0.90% 3.60% 1.00% $1.30 2.60%
$100 2.10% $0.30 0.90% 3.30% 1.00% $2.30 2.30%
$500 2.10% $0.30 0.90% 3.06% 1.00% $10.30 2.06%
$1,000 2.10% $0.30 0.90% 3.03% 1.00% $20.30 2.03%
MonthlyTransaction
Volume
MonthlyTransaction
Volume
>$150000 FeeComparisonforMonthlyTransactionVolumesof:
6/06/2014
659.12 $
PriceGrowth %Growth
215.31 $ 48.5%
21.74 $ 3.4%
546.15 $ 483.4%
631.87 $ 2318.8%
Since Jan114 86.33 $ 11.6%
Note:Thisworksheetis100%automated.Justcopypastethetableintoyourproposal
(Justupdatethedatainthe"PriceData"worksheetfirst!)
Note: The"Since"datecanbechangedtowhateveryouwant,butItypicallyusea"Yearto
Date"Valuei.e.SinceJanuary1st.Ifyouwanttoseepricegrowthsinceyourlastbirthdayor
anniversary,justchangethedataincellB12
1month
3month
1year
3year
Today'sPrice
Today'sDate
Year
Starting
Bitcoin
Supply
%mined
2009 0.00%
2013 10,500,000 50.00%
2017 15,750,000 75.00%
2021 18,375,000 87.50%
2025 19,687,500 93.75%
2029 20,343,750 96.88%
2033 20,671,875 98.44%
2037 20,835,938 99.22%
2041 20,917,969 99.61%
2045 20,958,984 99.80%
2049 20,979,492 99.90%
2053 20,989,746 99.95%
2057 20,994,873 99.98%
2061 20,997,437 99.99%
2140 21,000,000 100.00%

3
6
9
12
15
18
21
24
2009 2014 2019 2024 2029 2034 2039 2044 2049 2054 2059
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Year
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