Bitcoin is the new age currency; money in digital form. Various businesses have appreciated the growing use of this kind of currency and are open to accept Bitcoin as payment allowing cryptocurrency transactions. It is easy to accept Bitcoin in your shop and it is a trade that comes with numerous perks.
Enjoy Low Fees
There are no fees associated with accepting bitcoins, and the fees are between 0% – 1% even if you are doing so via a payment service provider. Moreover, you can influence any fluctuations of exchange rates.
No Charge-Backs or Fraudulent Payments
Bitcoin transactions have no charge-backs; all transactions are final (just like when dealing with cash). You are guaranteed to get your money once an item is sold and payments are made; this also eliminates the possibility of payment fraud.
Accept Bitcoin Internationally
Bitcoin payments are legal transactions that know no geographical boundaries. You can buy and sell items from individuals from any corner of the world. Bitcoin transactions are fast and thus allow you to reach a wide customer base.
At the point of sale, trading using bitcoins takes away the need for expensive credit card transactions. It is a low-cost cashless payment system that’s also advantageous to your customers.
According to plm-global.co.uk it is important to include the “Bitcoins Accepted Here” sticker once you have integrated the bitcoin payments system to your website or your POS system. The sticker or logos come in different sizes and designs and can be acquired for free from its promotional graphics page.
Accepting Bitcoin Via Bitcoin PSP
Numerous PSPs (payment service providers) handle bitcoin transactions online and some at the point of sale. You can get payments done in your local currency if you integrate bitcoin payments in your ship via a reputable PSP. In so doing, you can take advantage of the bitcoin transactions while evading the associated price volatility. Some of the bitcoin PSPs worth considering include:
- Coin of Sale
Most of the PSPs listed above offer WordPress plugins for different online shop platforms. You will be glad to know that it will be a breeze to integrate bitcoin payments to online store if run on Shopify since it accepts payments via Bitpay, Coinbase or other bitcoin payment service providers of your choice.
Accept Bitcoin Today!
With the bitcoin payment system, you trade autonomously; free of third party payment handlers. Just set up an e-wallet along with the use of free plugins such as WooCommerce and WordPress and start accepting bitcoin payments.
If you need some aid on how to set up the bitcoin payment system for your online store, then consider reading this Bitcoin Wiki article about how to accept bitcoins for small business ventures.
Keep in mind that you are subject to the bitcoin price fluctuations every time you accept a bitcoin transaction. Check out our articles about buying and selling bitcoins to know more about bitcoin exchange rates, how you can convert the bitcoins into your local currency, how you can spend this digital currency right away.
This is a guest post made by Nick Dale. He worked in the financial world for a decade and enjoys sports, BBQs and spending time with family as well as focusing on his site wesellcrypto.com