With the entire world’s economy shifting towards cryptocurrency, the acceptance of Bitcoin, Ethereum and related currencies have been widely popular and a prevalent process. Now, the question that arises is that how would people accept the Bitcoin and other related payment? To get the right solution, you need to know the ways of accepting cryptocurrencies which is discussed below. You can look for Bitpace register and then get an idea of converting crypto to fiat currencies. Click here to register.
- 1 What are the reasons people prefer BitCoin instead of cash payment?
- 2 Since the inception of Bitcoin in 2009, it is the most popular mode of transaction and has gained preference over other methods.
This is a Silicon Valley based company that is engaged in buying and selling cryptocurrencies including Bitcoins. This is a commerce product that makes easy to accept payments and deliver all types of digital payments. The company has all types of essential tools enabling an easily facilitated crypto payment like payment buttons, checkout pages, and e-commerce and invoicing integrations. The platforms gives access to all sort of granular access control and encouragement to be like own bank.
Bit Pay is an Atlanta based company that enabled businesses around the world to accept cryptocurrency payments. The company is introducing various tools for making the payments simple like the checkout option, payment button and other invoicing solutions. The payments are generally made by customers either online, in person or maybe by mail. One of the best features of Bitpay is that it protects businesses from the risk of fluctuation. The company charges a 1% transaction fee on all sort of transactions and allows the clients to adjust with the local currency.
This type of payment is one of the long running services of cryptocurrency and helps business worldwide as long as 2013. This acts as one of the payment processor for both online platforms as well as personal transactions. If you have the plugin of this company, it will easily work with e- commerce services like Shopify, Open cart, Magento, and Woo Commerce. It charges a digital fee of around 0.5%.
Paypal is an American company having the largest base of 29 million merchants online. For consumers having Paypal account, it easier to convert the Bitcoin, Bitcoin cash, Ethereum, Litecoin, to fiat currencies like euros and dollars. All you are required to do is set up a Paypal merchant account. As a merchant you need not accept cryptocurrency directly into your account. But, you can buy items with the same currency.
This is a cryptocurrency processor that was founded in 2013, and help managing businesses to manage crypto currency and other crypto payments. The service helps to accept currencies like Bitcoin cash, bitcoin, Litecoin and Dash payments. This processor offers a 1% transaction fees and works with all e- commerce services like Open cart, Magento, Prestashop, Ubercart, Shopify, and Zencart.
Triple A is a global cryptocurrency processor found in 2018 and based in Singapore. This is mainly a developer focussed approach to accepting the cryptocurrency payments mainly for the e-commerce, invoicing, point of sale and remittance. This company integrates with the various e-commerce based companies like Open Cart, Woo Commerce, Shopify and many more. The application would allow you to track payments and orders, payments and also reconcile accounts.
What are the reasons people prefer BitCoin instead of cash payment?
There are various reasons people prefer using Bitcoin instead of cash payment.
- It’s easier to hide your wealth by investing over Bitcoin instead of simple cash. The super-rich who doesn’t want their nations to know about their wealth, use Bitcoin.
- Some people who do not believe in the banking service does the same by investing in Bitcoin. This appears to be a blessing as people are provided with access to equivalent services.
- If you want a transaction to be done without the aid of a third person involved, or maybe keeping yourself as anonymous, Bitcoin is the best option.
- In case you want to distribute your assets in a decentralized manner, then Bitcoin is the best option. In fact, no bank will ever be managing your assets in this case.
- Since Bitcoin is the concept of a Blockchain, there cannot be no data duplicity here. The blocks will successfully maintain all your transactions and secrecy.
- You can maintain your payments as anonymous and it’s a totally secured attempt. While you make payment through cards, still there’s some discrepancy and insecurity exists.
- The mode of payment is secured for the merchants. Once the payment is made it’s irreversible and cannot be withdrawn at any cost.
- Investing in Bitcoin is highly profitable. Just note the incremental trend since the day it came to the market. People who bought Bitcoins in 2013 are now millionaires today. These people are often known as holders.
- When you are buying Bitcoin, you are being a part of a global revolution. You are transacting money without any third part being involved, with full security and absolutely no alteration of value. Afterall, Bitcoin will be the future of all transaction; so buying, stocking and using Bitcoin will be a benchmark and you will mark being part of a revolution.
Since the inception of Bitcoin in 2009, it is the most popular mode of transaction and has gained preference over other methods.
- Receiving Bitcoin payment is easier as you just require to address and amount to be transferred.
- There are various payment processors available that converts Bitcoin directly to normal currency.
- Bitcoin is regarded as the best investment since it records highest increment value wise, since the time of inception.
- The process of transfer of funds is the fastest in case of Bitcoin.
- The transaction amount required to make a Bitcoin transfer is very low, and it’s quite affordable.
Accepting payments through Bitcoin is easier, and can be done manually too. You can generate the address and then indicate the amount of money you should send there. While there is a lot of manual work, but sometimes it cuts on the hassle of keeping a middleman. You can store the money in the wallet and then indicate as soon as the process of transaction is over. The process of accepting Bitcoin is much faster and user-friendly, so the process is gaining roots everywhere.