Those of you that do not yet know about this most revolutionary electronic currency must read this article: Merchants now can instantly accept and process payments in the most secure bitcoin payment processor manner possible. But mostly, Bitcoin is not just restricted to online merchants, even offline business must also begin accepting Bitcoins as payment for their products. This would give a boost to the economy and make the world a little freer.
There are many ways by which merchants can receive payments in this most revolutionary currency. The most popular way is to use a gateway service. A gateway is like a bank that transfers your transactions to the right place. These services charge a small transaction fee for every successful transaction. Some of these gateways are for free, others may charge a transaction fee as high as $2.50. But regardless of where you get your bitcoins, it is always better to go with biopsy.
In this article, I will show you how bitchy and other payment processors work. Before you start using any one of the two, you need to learn more about how they work. The most important aspect of any type of wallet is security, which is achieved with various techniques such as encryption and authentication. One of the most secure and popular security technique is known as encryption, which is done with the help of some mathematical algorithm.
There are several popular currencies that you can use as an option when you want to accept bitcoins as a payment method. Among these are US dollar (USD), Canadian dollar (CAD), British pound (GBP) and Swiss franc (CHF). Most of the time, people prefer to use the US dollar because it is the most commonly used throughout the world. Apart from that, the use of other currencies other than these currencies is possible.
As a merchant, you should keep in mind the following issues before starting the process of accepting payments through your websites. First of all, you should check if your chosen platform accepts various currencies such as the EUR, GBP and CHF. In addition to that, you should check whether they support a particular range of currencies. Some of the well-known payment processors such as Bitstamp and PayPal already provide support for a few dozen popular currencies including EUR/GBP, USD and Canada. The availability of various currencies in the Cryptocurrency market makes the marketplace more flexible for both the customer and the merchant.
You should be careful while selecting the payment service provider. Make sure that the payment service provider provides the necessary features to ensure secure transactions and smooth operations. It is recommended to go through the review and reference of the service provider before you start accepting bitcoins as a payment method. There are many companies that provide this service such as Xoom, BitPay, Paydotcom, etc. These are just a few of the most famous ones out there in the marketplace. You can even seek help from your friends and relatives who have availed of such services earlier.
For instance, Xoom, is one of the well-known payment methods in the marketplace. Their website offers complete instructions on how to set up an account with them and once you log in, you will be greeted by an interface that looks very simple to operate. They offer the ability to manage multiple accounts for different currencies, transfer funds and make transactions at the same time. Furthermore, they allow their customers to accept only the most popular payment methods such as PayPal. Their other features such as the ability to set up merchant accounts and the ability to generate invoices also serve as their distinct advantage. They are however a bit expensive than the other two, but if you run a small business, it will not cost you much as compared to the costs involved in accepting payments with the traditional methods.
BitPay is another well-known provider of the bitcoin payment methods. It is one of the most frequently used services worldwide. You can find their services online and you can also find a lot of information regarding them. They too provide easy access on how to use their service and you can even purchase a membership for them so that you can immediately start making payments. However, in order to get the full benefits of using these payment methods, you need to become a BitPay member.