How to process bitcoin payment gateway
Those who want to utilize the power of bitcoin transactions in their business should register to payment gateway of Bitcoins or a crypto payment gateway.
Payments gateways are means of online payment that help buyers transfer money to the sellers during an online purchase. Bitcoin payment gateways are also the same, which allow the buyers to transfer payment to the seller but in the form of bitcoins.
Even many e-commerce companies like Apple have started accepting bitcoins and cryptocurrencies for their goods and services. They have also considered it to be more beneficial than the normal payment systems.
Let’s see how businesses can get benefitted by integrating a bitcoin payment gateway into their online platform.
Benefits of Accepting Bitcoin Payments
- The fees charged during the transaction of bitcoins are comparatively less as it doesn’t involve the bank.
- There is no subscription fee to be paid which makes the transaction very comfortable.
- As bitcoins are used by many eCommerce platforms already, you make sure your business doesn’t miss updated transaction methods by facilitating a bitcoin payment gateway.
- Unlike the traditional payment option, which limits the number of transactions, bitcoin gives you “no-limit” in the number of transactions made by a person.
- Bitcoin provides “Blockchain” technology and many computing powers to keep the commodities safe and secured.
- There is no third party available in-between the transactions of cryptocurrency. This means once the payment is made, the amount goes instantly and directly into your account, which you can turn into fiat as per your convenient schedule.
- More customers are seeking platforms that provide cryptocurrency payment gateways.
Note: One needs to convert the bitcoins into fiat money right after the trading process to avoid any loss. Because the Cryptocurrency market is very volatile, the value of a bitcoin can fall or rise unexpectedly.
Example: The value of bitcoin in December 2017 fell up to 45%, i.e., the worth went from $20,000 to $6000 or below.
Why is “Now” the Right Time to Consider Bitcoin Gateway?
In recent times the popularity of bitcoin has increased vastly, and they are many clear assurances that have been given.
- Back then, the usage of bitcoins was less as it was a very new idea, and people’s knowledge of its mechanism and working process was low. Merchants were also scared of taking risks because digital money did not make them feel secure. There was no evident proof given to the people that showcase the success of these bitcoins for the long run. But the entry of humongous companies like Paypal and Microsoft stepping into the trading business of cryptocurrencies has made many other companies join in.
- All the E-commerce sites are finding their ways to bring in bitcoin transaction in their websites as another option for payment and even the general audience have started their research about bitcoins to start their trading business in it.
- After seeing the security measures of cryptocurrency, many experts have also stepped into this field of digital money which gives us a positive signal regarding the security of our commodities, but this also indicates the competition in the market and the values are becoming higher. Thus this will definitely be the right time for you to jump into this trend of bitcoins.
Hopefully, you would have understood the concept of development happening in the market regarding bitcoins, and it is important to know that in the future, bitcoin payment will be a primary option in most E-commerce companies which will lead to the stabilization of the price too.