Bitcoin is not only a popular crypto coin that has managed to turn the heads of millions of users. Bitcoin is also a secure and inexpensive way to accept and process payments. In this review, we will consider what advantages this payment service can offer to a business today.
Broker Determines Commission
No commission fees are charged when receiving funds in Bitcoin. At the same time, a brokerage company can independently set up the commission when making transactions and transferring funds to crypto wallets. The size of the commission directly affects the priority for receiving the appropriate confirmation of the transaction on the network. The amount of the commission never depends on the volume of the transaction.
Payment Security and Fraud Protection
Almost any business that allows customers to make transfers from bank cards or PayPal, sooner or later, may face the issue of withdrawing payments. Sometimes this happens due to objective reasons.
However, some withdrawing payments are associated with fraudulent schemes. As a result, this leads to a significant narrowing of the market and an increase in prices, which negatively affects the customers themselves. Bitcoin payments are highly secure and irreversible.
Instant Payments from Any Spot of The World
There is nothing easier than sending payment in Bitcoins from anywhere in the world. Customers do not have to engage intermediaries or wait several business days to receive confirmation of a transaction. This also means that there are no additional fees for international transfers or any restrictions on a transaction amount.
Alternative Payment Solution
Almost every online user has heard of Bitcoin in one way or another. Today, it is an emerging market with hundreds of thousands of customers who are constantly looking for new places to use their coins to pay for services or goods.
If your brokerage firm starts accepting Bitcoin payments, it will significantly simplify the search for new clients, especially those who value transaction speed and privacy.
No Need to Pay for Complying with Strict PCI Standards
Accepting payments using credit and debit cards will require additional security checks to ensure that the transaction is compliant with all PCI standards.
The use of Bitcoin in payments will require you to provide proper technical support for the crypto wallet and timely processing of all requests. On the other hand, you do not bear the additional costs necessary to process your customers’ personal information, including bank card data.