For the last ten years, the use of cryptocurrency in payment of goods and services has been on the rise and has become very popular. Bitcoin payment is one mode of accepting cryptocurrency. In the recent past some of the stores and small businesses were finding it difficult to accept bitcoin payment as far as the exchange of goods and services is concerned. The reason behind people shying away from bitcoin is due to the fear of the unknown. The business persons have always found it difficult as far as understanding how to accept bitcoin payments is concerned. But with an increasing awareness regarding the efficiency of bitcoins payments, entrepreneurs are slowly adopting the use of bitcoins in paying for goods and services.
Far from ways of accepting bitcoin payments on you store, here are a number of advantages of bitcoin alongside other payment methods; there are many bitcoin payment processors available hence payments is always prompt. It is an efficient way of receiving payments, you can even hold bitcoins as a future investment, it is the fastest method of payment and the transaction charges are away very low as compared to visa card payment.
How can one accept bitcoin payment on his business? Considering that there are efficient bitcoin payment processors, you can use Coinbase as the first way of accepting bitcoin payments in your store. Coinbase is the largest platform where users can receive bitcoin payment, sell and bitcoins at any given time. In order to accept bitcoin payments from customers, you need a platform such as coinbase for them to offer payment receipts services.
Secondly, you can always accept bitcoin payments through the BitPay. BitPay is a platform that allows you to receive all bitcoin payments from your business operations and far from that it will allow you to transform bitcoins into bank withdrawals at a small fee of about 1%. This has made it possible for some store owners to accept bitcoin payments. This move has led to improvement of sales and the overall transaction at the end of a financial period.
Bitcoin payments for you store can also be accepted by accepting payments manually. To do this, you will be required to visit your website and generate a Bitcoin address for each and every sale made. The next thing is sending instructions to the site stating what amount each user has to transfer to your wallet to cater for the goods and services offered. This does not require any bitcoin payment processor.