For those who are looking to follow the steps of Microstrategy & Tesla and place Bitcoin as an asset under your business, we have officially opened business for entities!
We now allow private companies, trusts, close corporations, partnerships and other entities to buy Bitcoin in their name and all purchase orders will be the entity’s name for taxation purposes.
Many entities throughout the world are converting profits and cash on the balance sheet to Bitcoin to hedge against the pressure of inflation. It is the most liquid asset on this planet and can be converted to ZAR/USD/EURO etc. to ease cash flow issues in the future. It is also a native currency for the internet and more businesses are accepting it as a method of payment – both in online and physical transactions.
How can I sign up?
All you need to do is sign up as an Entity and confirm who the individual representative of the entity is. Please use a different email to the one you have used on Bitvice previously – for security purposes.
Complete the representative’s and entity’s details, upload the required documents and confirm the entity’s Bitcoin address. All Bitcoin purchased is then sent to that Bitcoin address on record. Nothing new, nothing difficult.
All purchase orders done on the entity’s Bitvice dashboard are in its name and every order will have a downloadable PDF to confirm the date, price and other important information required by all entities.
How can I secure Bitcoin for the entity?
This is where things get really interesting. There are various methods for an entity to secure Bitcoin. If there are multiple signatories over the asset, then a multisig setup is exactly what you will need to ensure the Bitcoin is secured through a dispersed coordination. If you are a sole proprietorship – then a standard hardware wallet should be sufficient, depending on the amount.
We are more than happy to take you through the various options that trusts, businesses and large institutions are using globally – and ensure you can secure Bitcoin in line with your risk appetite and unique circumstances. Just email us at email@example.com and we will get back to you asap.
If you are also interested in finding out how your business can accept Bitcoin as a payment method, please also reach out to us and we will take you through the best options in the market.