NEW YORK, Nov. 29, 2017 /PRNewswire/ -- Roadway Moving Company has become the first in New York to accept Bitcoin as a valid form of payment with its customers. The #1-rated moving company is setting a new standard by utilizing the virtual currency, which offers a number of benefits to consumers and the business. The computer-based currency has been in existence since 2009, and recently had a widespread surge in valuation.
Many established companies are developing uses for blockchain technology such as Bitcoin. Ross Sapir, president and owner of Roadway, is on the cutting edge of the traditional industry. "Our being the first major moving company in the Tri-State area to accept Bitcoin as a currency has a message behind it - it represents advancement and progress," Sapir explains. "Blockchain technology is the future and we, as a company, are always looking to be the leader in providing the newest and most advanced services to our client. For my business, Bitcoin negates the tyranny of credit card and merchant fees, plus the immediacy of a monetary transfer."
Some of the key benefits of Bitcoin which factored into Sapir's decision include:
Safety: Individual purchases are never associated with a personal identity, much like cash-only purchases. Unlike other forms of virtual payment, customers who use Bitcoin do not leave behind personal data.
No third-party involvement: Banks and other financial institutions have no way to interrupt user transactions. The person-to-person or person-to-business transactions allow a greater degree of freedom than with traditional national currencies, where wire transfers might incur delays or bank accounts which may be prone to freezes.
Low transaction fees: Since Bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are kept very low compared to other virtual payment systems, averaging at only 1%.
Untaxed purchases: Since there is no way for third parties to identify, track or intercept transactions that are denominated in Bitcoins, one of the major advantages of Bitcoin is that sales taxes are not added onto any purchases.
"I'm confident that this form of currency will be soon be mainstream in the moving industry and I'm thrilled to be leading the charge into this new era," Sapir says. "For our clients, paying with Bitcoin is simple and all one needs to do is open a 'hot wallet' on one of the exchanges." A "hot wallet" refers to a Bitcoin wallet that is connected to the internet (unlike cold wallets). People who hold digital assets typically have both as they are designed for different purposes.
The current conversion rate is approximately $7,000 per Bitcoin. "I believe that in five-to-ten years, 25% of my moves will be paid using Bitcoin," Sapir says.
About Roadway Moving Company
Established in 2008, Roadway Moving Company is one of the highest-rated moving companies in the NY Metro area (#1 on Yelp and Angie's List, A+ BBB rating) and provides residential and commercial local and long-distance moving. Roadway has more than 130 employees and does nearly 6,000 moves per year. The company offers storage services, as well as Roadway Black, a premier luxury moving service for valuable items such as priceless art, electronics and fine china. Roadway President and Owner Ross Sapir also created City Bins, an eco-friendly, rentable moving bin company. For more information, visit www.roadwaymoving.com.
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SOURCE Roadway Moving Company