How to accept Bitcoin in my shop
When Bitcoin and other digital currencies were launched many people were skeptical about them. However, Bitcoin has moved on to become a great success earning a new name ‘Digital Gold.’ The most popular digital currency is now enjoying a positive run after experiencing a hard time since January 2018. It’s predicted that Bitcoin could hit highs or $40,000 before the end of 2018.
Man traders have put Bitcoin as an option of Payment in their shops because they want to be part of this success story. As more users join the digital platform it will very vital for traders to accept the digital currency or risk losing many customers. It’s true that Bitcoin is at times looking intimidating to new users, however that should not worry you because in this article we have detailed ways in which you can accept Bitcoin in your shop.
There are many options at the moment helping sellers accept Bitcoin in their shops. So before choosing a platform, it’s important to do your research having in mind your type of business so that you can get the best option. Some of the things you must have in mind include transaction processing time, your computer skills level and lastly your business turnover.
Online payment processing
If your shop is not very big you can simply decide to accept Bitcoin for yourself. All you need is a Bitcoin wallet and ask your clients to pay through it. This process is however not the best because it will not solve the issue of the checkout process. If you decide to create your own check out process you may still have issues to do with web security. Because of that reason you can hire an experienced company like ExagonPay to monitor the payments and have your statements when you need them.
The online payment process is however good because it reduces third parties and puts the owner of the business in complete charge of the payments.
Third party payment processors
Since its launch in 2009 many third-party payment platforms have come up in the name of crypto exchanges. Exchanges are very ideal for shop owners who do not know much about digital currencies or who do not have the coding know how. When choosing exchanges you must check their processing time and their security features. This is because exchanges are targeted by many cyber criminals. In 2018 alone exchanges have lost nearly $1 billion through hacks and other security breaches.
There are many reputable exchanges but the question is do they offer the exact type of service you want? Is the exchange you are choosing insured in case of hacks and other instances that may lead to loss of funds? There are exchanges that will create a platform for your business enabling the flow of business and easy conversions of Bitcoin into either the Euro or even the USD. One such exchange is Exagonpay which links your wallet to your bank account enabling quick conversions of your money.