Advantages of Accepting Cryptocurrencies as a Payment Method

[Bitcoin]

Advantages of Accepting Cryptocurrencies as a Payment Method

On his twitter account, President Bukele actually points to geothermal as the source for El Salvador mining its own cryptocurrency, stating that he has instructed LaGeo to offer "facilities for bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos".

Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks managing transactions and  crypto the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part.

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As cryptocurrency is decentralised, businesses can avoid the hassle and expense that come with foreign currency transaction fees and exchange rates. The internet enables companies to conduct business with anyone across the world with a web connection, so even the smallest business can now sell its goods and  bitcoin services worldwide. Businesses therefore now have a single form of currency that is welcome regardless of location.

With cryptocurrency, the payment is routed directly from the sender to the receiver, eliminating all middlemen and greatly lowering fees. Credit card processing fees for businesses typically start at around 2% and can run as high as 5%. When businesses process credit card payments, the transaction involves the merchant and credit card company as well as other intermediaries, all of who charge a fee. Cryptocurrency fees usually range between 0-1%, so offering it as a payment option allows businesses to save significant money on their sales.

If you're looking to accept bitcoin payments, or a wide range of other cryptocurrencies, why not set up an online cryptocurrency merchant account today and introduce a crypto payment solution that will benefit your existing clients,  BNB gain you new clients and save on costs.

Features include low processing fees, no recurring fees, no hidden charges, real-time balance/transaction history, downloadable reports and secure checkout. As a leading payment processor,  crypto B2BinPay, enables businesses to set up a Bitcoin merchant account and offer their customers a large range of other cryptocurrencies as a payment option.

There was some trading stabilization in January 2014, with the price staying about $920. By March, it had recovered to about $620. 4 and  crypto 16, it declined about 71 percent from $911 to $260. Gox filed for bankruptcy protection in February, another Bitcoin crash occurred.

And that's confirmed when we pay attention to the charts. In the past, Bitcoin suffered important corrections in just a few days. But Mr Singh said that the kind of volatility that bitcoin experienced is not unusual nor unexpected.

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This makes it virtually impossible for customers to make a purchase without sufficient funds in their account. When someone pays with cryptocurrency, a business receives all of the funds immediately. Crypto transactions are final and cannot be challenged by a customer. Furthermore, unlike credit card payments, charges cannot be reversed. In addition, blockchain technology verifies that funds are available before the transaction is complete.

Source: Advantages of Accepting Cryptocurrencies as a Payment Method

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