Do you prefer to accept Bitcoin as payment in your business? Businesses that acquire Bitcoin and other cryptocurrencies open themselves up to bigger markets and more opportunities. Learn more about Bitcoin Payment Gateway in this blog.
Bitcoin is simply a digital currency that can be pre-own for making online transactions. Such digital currencies are altogether called cryptocurrencies. Some of the famous cryptocurrencies that we have today are such as Bitcoin, Ethereum, etc. Bitcoin is encrypted and made secure using Blockchain technology and it functions in a completely decentralized format.
What do you mean by Bitcoin payment gateway?
A bitcoin payment gateway is an online payment transaction platform that acquiesces different businesses to accept or receive payments in Bitcoins for their small scale or large scale business. Almost all the major payment processors do bolster the buying and selling of Bitcoins or other cryptocurrencies. Since the Bitcoin market is volatile, so it is normally advisable to liquidate the money as soon as possible.
Why are Bitcoin and Cryptocurrencies label as high-risk?
As banks slap the “high-risk” label on all the cryptocurrencies and do not let small businesses get anything like a Bitcoin payment gateway. Now, to be fair, they would have treated crypto this way even without the threat of decentralization. After all, crypto has in just a few years become so prominent for being the go-to exchange medium of drug dealers, illegal arms dealers, peddlers of stolen goods, and even money laundering operators. That is all on its own enough to get the “high-risk” classification, which again makes it very problematic to obtain a Bitcoin payment gateway to process Bitcoin payments.
Top 5 Bitcoin payment gateways
Some of the top 5 Bitcoin payment gateways are such as –
Coinbase is one of the biggest Bitcoin exchange platforms that we have today and it is undeniably the largest in the USA. They do have a really good number of customers and all the competence to act as a safer platform for Bitcoin payment. Coinbase is also one of the most decisive and sought-after bitcoin payment gateways. It acts both as a payment gateway as well as a normal exchange. Coinbase aid an individual to liquidate Bitcoins quickly and does not require a withdrawal request from the merchants. One of the major disadvantages of using a Bitcoin payment gateway as your payment transaction mode is that it only accomplish in a few countries in the world.
ALFAcoins backing not only payment transactions through Bitcoins (BTC). But, also supports Litecoin (LTC), Ethereum (ETH), etc. They charge a transaction fee of only 0.99% for the payment transaction. They remit their services in almost all the major countries of the world. Also, Bitcoins can be converted anytime in the currencies of Euros or USD.
Shopify is one of the service providers that bolster the transactions in Bitcoins. They are considered as a highly reliable payment gateway that we have today. They do have a wonderful customer support team and are completely easy to set up. The merchants will be recommended to register an account in Shopify if they require to use their payment platform. The application interface of the payment gateway is completely user-friendly and has a lot of additional features correlate with it. It acquiesces the integration of the other payment gateways such as Coinbase etc.
GoCoin is one of the most favored Bitcoin payment gateways used by the developers since it administers a very interesting API to use. They also afford a lot of additional plugins so that they can be used with various online shopping platforms. They can charge a transaction fee of 1%. Bitcoins can be converted into only US dollars.
Bitcoin Pay is the Bitcoin payment gateway that accords the cheapest transaction fees at a rate of just 0.8% on every payment transaction conducted through their payment gateway platform for their business. This payment gateway can bolster the payout in various currencies such as Euro, PLN (Polish Zloty), ESD, etc. The funds can be introverted at a faster rate through this payment gateway platform. They also administer the services of plugins for various online commerce stores such as WooCommerce, Magento, and OpenCart, etc.
Benefits of accepting payments in Bitcoin
- Accepting Bitcoin as a method of payment transaction gives you the following benefits such as –
- You can acquire cross-border payments which you can track in real-time.
- Your business accomplishes a worldwide customer base.
- Your business gets more profits, fewer fees, fewer credit/debit card chargebacks, and less fraud with this.
- It gives your business the benefit to keep some amount of your profits in BTC as an investment option. This could aid your business in the long term for your business growth.
- You and your business accomplish the freedom to “Be Your Own Bank (BYOB)”.
Call Us To Get Bitcoin Payment Gateway
For questions about applying for a Bitcoin payment gateway, or to start your application right away, call us now at our toll-free number i.e. (888) 25 9692, or send an email to [email protected]. Our expert staff is ready to help you!