What Is BitPay?
As if the hype surrounding bitcoin wasn’t enough, here comes yet another major talking point: how does one go about getting started with it as a merchant? One of the things that come bitcoin payment processor up immediately is payment gateways. These are companies or individuals that facilitate transactions between merchants and buyers, but they aren’t always part of the association. Usually, they work for a third party who acts as a go-between for both parties. A merchant creates a website, advertises its services, and then uses a payment gateway to get payments into the website’s account. When a buyer wants to purchase something off of the website, he transfers the relevant funds from his account to the merchant’s account, and vice versa.
At present, there are currently three very popular and most prominent entities offering the best opportunity for merchants wishing to use the bitcoin technology. They are Bitwage, Bitreserve, and Paydotcom. All have been well reviewed and recognized by many in the online community, and they have all proven to be effective tools for both buyers and sellers. This is primarily because they are all members of the Association of Merchant Acceptance (AMAA), which provides an excellent listing of merchants accepting the bitcoin technology.
Another reason why these three payment processors have become so successful is because they offer free installation and licensing to their clients. These businesses make their money through fees paid to them by the buyers who use their software. For example, Bitwage requires a buyer to open an account with them before they can start the processing of any trades. They also charge two percent of the amount transferred, which covers business expenses such as startup costs and other miscellaneous costs. The two percent fee is actually the company’s profit, and it is a generous deal for merchants.
One of the other good points of using a AMAA member as a payment processor is that the association makes sure its members are following strict guidelines to remain in compliance with the rules of the organization. This means that all members must adhere to a stringent code of conduct, which has been designed to maintain fairness among all of its members. Because of this, all transactions between merchants and buyers are processed accurately and timely. This is important for two reasons.
One of the primary benefits of using a payment service provider like payspacelv is that it acts as a guarantor for all of the transactions that take place on its site. This means that buyers and sellers are safe from any fraud that may occur during a transaction. Fraud is a very real issue when it comes to accepting payments with fiat currencies. With a bitcash merchant account, however, merchants are relieved from this concern altogether. This is because payspacelv ensures all of the details are accurate and only accepts funds that are specified by the buyer.
A second benefit of using a gateway service is that it takes the headache out of the process of transferring money between users. Transactions can be completed securely and instantly. All that is needed is a digital sign, which is sent to the designated recipient’s computer. Once there, the buyer’s private key is copied onto the recipient’s server so that all transactions are secure. The resulting digital proof then serves as the means of confirming that the funds have indeed been transferred from the buyer’s account to the seller’s.
By using a gateway like pays Pacelv, merchants gain access to a range of alfacoins that they can offer their customers. This includes both new and old alfacoins that have not been printed yet, and older coins that have high mintage numbers. This gives merchants a chance to charge higher transaction fees for their goods and services. This is because alfacoins have a limited supply, while the bitcoins are held in a distributed form.
Accepting bitcoins through online shopping cart systems such as bitpay allows businesses to take advantage of the ease and convenience that come with using the worldwide web as their point of sale. Using the services of a gateway service is also beneficial to merchants because it offers them the ability to accept all major credit cards. This opens up a world of clientele that can give business owners much more opportunities to make their businesses grow. Although using bitpay does require a bit more setup than using a traditional bank account debit cards, the benefits that it provides far outweigh any downside that it may come with. All in all, the ease of use and ease of payment that comes with biopsy is what makes it one of the most popular ways for merchants to receive payments from their customers.