Bitcoins are a part of digital currency, which various online service providers accept as a portion of innovated transactions. More and more buyers are relying upon bitcoins, for example. Various businesses accept crypto payments now and provide their customers a new way to order things online.
There are various reasons behind the growing craze of bitcoins, and the very first is that Bitcoins are way more secure since they are held electronically. As the currency doesn’t remain in a physical form, it always ensures a person maximum security. These currencies are also not managed by Government bodies; instead, they are managed via a blockchain network. Blockchain is the technology that keeps records of every transaction that happened using cryptocurrency.
Let’s find out what benefits businesses can uncover by implementing a bitcoin payment gateway into their website.
In today’s age, everyone’s schedule is so hectic that people get less time in their hands. Waiting for days or even hours for clearing the payments doesn’t even come as an option. Customers want something speedy as light and secure that no one can invade. Bitcoins come as the perfect form of currency that gets the transaction done in seconds.
Whenever there is a middleman, there is the consumption of time, and there would be a transaction fee as well, which goes to the middleman. Bitcoins or cryptocurrency don’t need any middle entity, which cuts a transaction cost that customers otherwise always pay when transacting through regular banking options.
What is the overall goal of making the online world more technologically advanced? The answer is simple, and it is “Security.” No one wants to be hacked, and no one wants anyone to look into their wallet. Since bitcoins are encrypted, no one can be nosy about your money, and hence it stays safe and secure.
Blockchain provides storage to every bitcoin transaction, and since the currency is digital, it is always more secure.
To enable international transactions, customers often rely on credit cards which provide international shopping options. However, everyone can’t avail of a credit card or, let’s say, an approved PayPal account. In all these cases, customers don’t have to be hopeless. Instead, they can utilize the almighty power of bitcoins and transact on a website where a bitcoin payment gateway is used.
Consider These Factors while Choosing a BTC Payment Processor
By implementing a bitcoin payment gateway into your eCommerce business, you provide your business an opportunity to expand significantly. However, you should also choose a BTC payment processor wisely. Let’s have the important factors which you should consider-
While deciding on the best BTC payment processor, inquire about their transaction fee. The rate should be as low as 1%, and if you find such providers, you can consider them in your list.
The payout frequency is an important thing to consider even before you check for the transaction fee. You should always prioritize the providers who can release the transaction on the same day, even during busy periods.
Businesses need to convert bitcoins into their currency. Make a note of the currencies that the BTC provider facilitates. You should have an option to convert bitcoins in your currency. Plus, the provider should operate in the country you do business in; else, it is better to switch to another provider.
While looking for all these factors, don’t forget to check the customer support level of a company. If you have any questions regarding the BTC payment setup, utilize the customer support service and see how quickly and efficiently they can resolve your queries.