Bitcoin is an interesting, unique, and innovative invention and to the surprise of many, its value has skyrocketed in recent years. While it is still unclear whether bitcoin will truly change the world of currency and emerge as one that is used at a widespread level, it is clear that the currency has created various new startups and companies that help individuals utilize bitcoin and to derive value from it as well.
With that, this review would like to introduce a new platform called BitPay, which is ideal for Bitcoin merchants who are worried about the volatility of Bitcoin when their customers buy products or service from them using the cryptocurrency.
What Is BitPay Payment Processing?
BitPay Payment Processing is a new platform for merchants who sell goods and services for bitcoins. The volatility of bitcoin often makes it difficult to get an exact value for bitcoin and because it can drop at any time, sellers may not get the correct value for the good or service that they sell and in comes BitPay. This payment processing system will invoice the customer at a locked-in exchange rate and once the customer pays the invoice, BitPay will convert the bitcoin into traditional currency so that the seller gets an exact value for the good. After the transaction is complete, the funds are deposited into the seller’s bank account.
Helping To Process Billions In Bitcoin Payments
BitPay is already at the forefront of helping to process bitcoin payments. According to the brand, it has processed over $1 billion in bitcoin payments in recent years and its volume is growing by the year. With this type or success, those who choose BitPay can be confident that they are choosing the right service for their needs. Further, this service enables individuals to overcome the traditional troubles related to transactions that utilize bitcoin – volatility. This way, the business is more secure and the sale can be trusted to bring in the expected income.
Payment Processing Using Blockchain Technology
To perform most of its payment processing task, BitPay utilizes Blockchain technology. For those who are unaware, Blockchain is akin to a supply chain – users can view exactly where their transaction is standing at any given moment and even where the transaction has been in the past. With Blockchain, users can manage their bitcoin transactions much more easily and in a decentralized manner, giving users more power and oversight over the currency and the transactions that it is used in.
In this case, Bitpay will utilize the blockchain technology to support payments. In giving customers the opportunity to accept payments on blockchains, merchants will be able to open new customer basis and reach funds that are currently moving through the bitcoin system. Further, another advantage of this brand compared to others is that the miner fees involved are much lower than the brand’s counterparts. Therefore, those who use this system can do so without having to worry about digging deep into their pockets to fund the service.
The Benefits Of BitPay
There are many benefits to be had when one adds BitPay to their transaction needs. Here are the main advantages of this system so that users know what to look forward to:
A Platform That Is Continuously Improving And Evolving
First, unlike many brands on the market, this one is dedicated to continuously improving and evolving. According to the brand, it will “continue to build for Bitcoin payments.” This quality ensures that those who use this service are able to take advantage of the Lightning Network, its platform will support various transactions, and that miner fees will remain low in the process.
Keep More Money As A Merchant
Second, merchants who use this service will be able to keep more of their money. As the brand explains, today, credit card companies take about 3% in processing fees for every transaction. Fortunately, the flat rate here is a 1% settlement charge, making it a much more attractive option.
Sell To Anyone, Anywhere
Third, those who use this system will be able to sell to anyone and anywhere. The payment network is completely borderless, enabling users to receive payments in any amount and from anywhere in the world. With this system, users can truly count on convenience, innovation, and the power of technology.
No More Chargeback And Identity Theft
Finally, one of the best qualities of this system is that it seriously mitigates the risk of chargeback fraud and identity theft. Bitcoin customers hand off personal information, but the good news is that the information is completely secured so that no one needs to be concerned about potential issues arising.
Clearly, there are many benefits to be had when one chooses BitPay. This is a comprehensive, unique, and high-quality service that can adequately serve both merchants and customers alike.
BitPay Payment Processing Summary
Overall, those who are interested in stabilizing their transactions that use bitcoin may want to consider BitPay as their go-to resource. To get started with this brand, to learn more about its services, and to tap into the power of bitcoin transactions, just visit the brand’s website today.