The payment environment evolves fast, thanks to technological advances that continually change the way people deal with money. Cash is almost an extinct payment option while modern alternatives, such as digital currencies, take centre stage. — Merchants need to be aware of the latest payment trends to provide the best solutions for clients and to remain relevant and competitive.
Cryptocurrencies have had phenomenal growth over the years. Providing a new payment solution in a digital and secure way was a game-changer for businesses worldwide, especially when we think about Bitcoin. Last year, Visa filed a patent application to create a digital currency using Ethereum.
If you want to incorporate Bitcoin as a payment option for your business, the first step is to understand it and find a payment provider that can help you obtain a Bitcoin merchant account.
The advantages of accepting Bitcoin as a payment method
- Fraud-proof transactions
One of the most significant advantages of using Bitcoin is the security of operations. Every approved transaction is safely stored in a public record to ensure the authenticity of record keeping. Purchases made using Bitcoins are never associated with the buyer’s identity, making fraudulent transactions almost impossible.
Only the currency owner controls it. This means that banks and government institutions do not have control over cryptocurrencies. Customers can make large or regular transactions as the currency uses an uncrackable code, which makes this currency more appealing.
Being a decentralised currency that is not controlled by any institution, Bitcoins are accessible to everyone. It only requires internet access, which more than two billion people around the world already have. Therefore, so many people find cryptocurrencies far more convenient than traditional transaction systems.
Quick and easy settlement
Thanks to blockchain technology, using cryptocurrencies is a straightforward process. It only requires a smart device and internet connection to make payments and money transfers.
How to start accepting digital currencies
These advantages make Bitcoin a beneficial payment method to add to your business. The best part in using digital currencies are the low fees and the minimal possibility of chargebacks. If you want to start accepting Bitcoin as a payment method, you will need a Bitcoin merchant account with an experienced and reliable payment provider.
iPayTotal is a leader when it comes to Bitcoin payment processing. We have earned this reputation by providing the best options for Bitcoin merchants at competitive rates. At iPayTotal, we provide high-quality services at fair rates for high-risk businesses. We also offer pay-outs in Bitcoins. The moment your application is accepted, you can start receiving pay-outs in Bitcoin.
Contact us at iPayTotal if you have doubts, and our team of experts will assist you.