Thursday, April 15

How Do I Set Up My Own bitcoin Merchant Services?

A: Yes. Q: How do you plan on accepting it? A: Yes. Q: When will you be able to do that?

A: Accepting payments with BitPay is quite easy once you have the software in place. I am not going to go into the whole process of setting up your BitPay merchant account. The person bitcoin payment processor who set it all up for me was very understanding and helped in several ways. He made sure I had a choice of many payment gateways and the freedom to accept any of the major fiat currencies.

In order to start accepting payments with the bitcoin gateway allows merchants to transact in a way that was most comfortable for them. It doesn’t matter if you have ten different currencies. All you have to do is sign up and go through the easy to navigate interface. They provide tutorials on how to set it up, how to get started, and how to get the right software from the start. If you have no idea what all of this means, don’t worry they made it really easy.

The next thing to consider when you’re deciding on your payment gateway is the chargeback and refund rates. The BitPay team has done a great job of optimizing their fee structures to make it as low as possible without compromising the safety of your customers’ funds. They have also implemented a no-transaction fee, which automatically charges you a one-time transaction fee for all deposits and cash withdrawals. This is free money for you the merchant. Every time you make a sale, you receive a refund and no transactions fee.

Most of the time, you will find that only two currencies are supported by the majority of the bitcoinpay merchants. These are the US dollar and the Eurodollar. Other smaller currencies such as the British pound and the Japanese yen are usually not available through many of the larger retailers and are only available through specialty stores.

Since the launch of bitcoin the cost of the average transaction has gone down significantly. There is now a wide range of retailers available on the decentralized cryptographic asset exchange that you can utilize. This is why there are several different types of payments processors available for you to use. If you only intend to accept one specific currency then select your provider accordingly. Otherwise, you could choose from any of the dozens of available cryptocash wallets that will enable you to transact in a hassle free way with your chosen currencies.

The last thing to take into consideration when choosing your provider of bitcoin payment processors is the range of plugins that they offer. There are literally hundreds of different plugins out there that can be used to integrate your online business with the bitcoin network. These plugins can be written in a variety of different programming languages such as Java, Perl or Python and are commonly referred to as wallet plugins. You will have to determine which one best suits your needs before paying for their services but the good news is that most of them are free to download and use once you’ve installed them.

With the use of the aforementioned plugins you will be able to send and receive payments from any of the currencies that are supported by the bitcoin network including the US dollar, Canadian dollar, Australian dollar, Swiss franc, Chinese renminbi, British pound and Euro. With the integration of these different payment gateways your customers will be able to pay with one of these currencies at any time that they like. There are even more exotic choices available with some of the more popular gateways such as the London micropayment exchange and the Singapore exchange. The choice of which ever type of gateway you decide to go with depends on the volume of trades that you intend to conduct and the amount of liquidity that you desire within your local market. As long as you are confident in the technical abilities of your own private server you can rest assured that you will be able to get all of your transactions handled no matter which payment channel that you choose.

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