What is cryptocurrency?
A Cryptocurrency can be defined as a digital or virtual currency and it is designed to work as a medium of exchange. It makes use of cryptography to secure and verify the transactions as well as to manage the creation of new units of a particular cryptocurrency. Basically, cryptocurrencies are coded in specific block-chain entries which are stored in computers and cannot be altered unless specific conditions are satisfied.
Bitcoin is the most widely recognized crypto currency and was created in 2009 by Satoshi Nakamoto. The value of Bitcoin in 2017 reached a huge $180 billion.
Cryptocurrency units, like Bitcoin, are generated through ‘mining. Cryptocurrency units are generated by utilizing a computer to solve math’s problems. The users of this currency can buy it from brokers and by utilizing cryptographic wallets they can spend it for their use.
iPayTotal Cryptocurrency Merchant Accounts
IPAYTOTAL is a bitcoin payment processor and is one of the biggest players in the space. IPAYTOTAL has earned this place in the industry as we provide best Internet merchant account services at extremely competitive rates. We help in establishing bitcoin merchant accounts or any merchant accounts through our connections with Acquiring Partners and it gives us the edge to offer Reliable Credit, Debit and Echeck Processing to almost every industry which is considered high risk.
Cryptocurrency payment processing is gaining huge popularity among merchants around the world. In this blog, we will discuss accepting cryptocurrency payments from beginning to end.
Who Accepts Bitcoin?
- The list of companies who utilize Bitcoin payment processing is increasing rapidly. It is widely considered that the digital currency is here to stay. There are a number of small ventures worldwide that accept bitcoin, however major companies are following. Virgin Galactic, Overstock.com, Tiger Direct, and the NBA’s Sacramento Kings to name several.
At present, many big, as well as small companies, are accepting and offering BITCOIN payment
What are the reasons that now most of the customers prefer to use cryptocurrency ?
The decentralized nature of cryptocurrency means that it is assessable to all, however, banks and building societies can be selective concerning whom they work with. Over two billion people who have access to the internet and can’t utilize traditional payment solutions. These people find cryptocurrency more convenient over traditional transaction systems.
The blockchain is the reason behind why cryptocurrency has any value. Ease of use is the reason behind why cryptocurrency is sought after. All you require is a smart device, an internet connection and instantly you become your own bank, capable of making payments and money transfers.
With cryptocurrency being a new form of legal tender, the industry is experiencing a major boom. Which means a small venture can prove rather lucrative. The most common investment is known as a holding which meaning clients purchase cryptocurrency and hold onto it, hoping it increases in value.
When cryptocurrency came into existence, every approved transaction are safely stored in a public ledger. The identities of all the owners of a coin are encrypted so as to ensure the authenticity of record keeping. Because the currency is decentralized, you claim it. Only the owner of the currency has control over it, neither bank or even government has any control over it. Customers can make large or regular transactions as the currency uses code which is relatively uncrackable that make this currency more appealing to them.
OUR SUPREME ACQUIRING SOLUTIONS FOR CRYPTO-CURRENCY EXCHANGES
iPayTotal combines the core capabilities of an acquirer with those of a payment service provider and adds the regulatory possibilities of a renowned bank into our service portfolio at leading edge prices.iPayTotal is an innovation driver for the areas of crypto exchanges, ICOs, and wallets.