If it is important to you that payments are as fast and secure as possible, paying with bitcoins (BTC) is just what you need. Using cryptocurrencies to buy various goods and services is becoming increasingly popular these days: just look at the news from the financial exchanges. Cryptocurrency (and bitcoins, in particular) are best suited for high-value purchases.
In this article, you will learn how to connect the cryptocurrency payment function on the website, what crypto processing is, what the main benefits of bitcoin and Bitcoin payment features are, as well as much other important information about this innovative currency.
Bitcoin wallet is a kind of e-wallet. To receive a sum of money, you need to send a specially generated address to the person who will send you the funds.
This person confirms their intention to make the transfer, after which the bitcoins sent are attached to the blockchain. Thanks to crypto-encryption, this payment method is secure. Information about all bitcoin transfers is stored on the devices of the parties to the transaction. This system cannot be hacked, as the aggregate of all the computers involved is too powerful to do so.
The entire bitcoin payment processing takes about ten minutes. The speed of the transaction can be affected by commissions, which represent a kind of bonus for all participants. The commission is determined by the sender.
In our country, the payment process for Bitcoin and Bitcoin Cash is virtually the same as in other countries because cryptocurrency, unlike fiat money, is not tied to location.
To carry out a transaction, you need to:
Turn on the Bitcoin wallet on your device and go to the subsection designed for scanning QR codes;
Find the appropriate code on the site where you are going to make the payment. More often than not, the code for the transaction can be found on the financial page;
Scan the code and send it;
Enter the pin code, thus confirming your intention to transfer the funds.
This is the end of all the steps required. The cryptocurrency transfer is ready.
Bitcoin cryptocurrency can be stored in several types of wallets. Moreover, their list is constantly growing.
Four types of bitcoin wallets are the most popular:
Cold paper wallet. This is a printed QR code. Its main advantage is that only its owner can access it. However, it is often inconvenient to use such a wallet for online shopping;
Cold hardware wallet. This BTC wallet looks like a flash drive with buttons and a small screen. To make a payment, you need to type a password and a key or connect this device to a computer via a USB connector;
Local. Unlike the first two types, this Bitcoin wallet is in the form of an application. It can be installed on either your phone or computer. Browser-based wallets are also sometimes found. Proof of Stake, or Proof of Stake, is extremely important. This type of wallet allows you to make transfers, but it is risky to keep bitcoins in it for long;
Mobile. The most common type of bitcoin wallet among both Android and iOS customers. Transactions to exchange funds between different bitcoin holders are done via NFC or QR code systems.
Customer feedback clearly demonstrates that for online purchases such as online casino games or sports betting, the mobile Bitcoin wallet is the most optimal and comfortable type. It has sections with history, up-to-date bitcoin currency statistics according to the exchange, and other important data about the currency.
What is it?
Crypto Processing is the payment for any online purchase using cryptocurrencies.
This procedure has many advantages, for example:
The ability to accept payments from all over the world, which is especially relevant in times of sanctions;
Almost no risks - your BTC purse will not be blocked due to suspicions of fraudulent activity, while with fiat cards, there is such a risk;
No need to register a legal entity: payments in cryptocurrency can also be accepted by ordinary individuals, regardless of what country they are citizens of.
Since cryptocurrency is virtual and has no tangible expression in the form of coins or notes, it is not controlled by anyone, including the governments of any country. This has both advantages and disadvantages. For instance, this kind of currency does not require intermediaries like banks, but if you send money to the wrong person by mistake, there is no way to cancel the transaction.
Therefore, when buying goods or services with bitcoins, you need to be very careful and cautious.
The popularity of cryptocurrency among entrepreneurs is growing at a very steady pace. After all, the more different payment options and possibilities there are, the better. By paying salaries in cryptocurrency, employers can attract new employees who prefer this payment method. And it's understandable that paying for goods and services in bitcoins, including Bitcoin Cash, has many advantages.
Some of them include the following:
No limits on the amount of money you can send;
Symbolic size of commissions, and often no commissions at all;
Fast acceptance of funds, absence of any delays;
The easy and quick procedure of creating a purse. Moreover, this process allows to preserve of anonymity, as it does not require any personal data;
Virtually no territorial restrictions - funds can be transferred from almost anywhere;
Impossibility of falsification and fraud, which guarantees that the seller will receive the money;
No tax deductions, as cryptocurrency is not an official means of payment in any country.
The aforementioned advantages are the main reasons for the growing popularity of cryptocurrency. More and more people are choosing bitcoins and other virtual currencies as a means of payment.
Privacy is a big advantage for a huge number of users. Many are afraid of having their personal data leaked. Now authorities in various states are trying to introduce new laws that would allow them to tighten control over cryptocurrency.
The reason for this is precisely anonymity. After all, government authorities are concerned about the use of cryptocurrency for all sorts of criminal purposes, such as selling illegal goods, money laundering, etc. If your online shop accepts bitcoin payments, you should, if possible, keep track of whether any of your customers' money has been illegally obtained. Otherwise, your website could get in trouble with the law.
This shows that the Bitcoin payment system needs better security and different ways to track illegal transactions. This will ensure that your site is stable and not threatened by law enforcement.
Another important feature of cryptocurrency payment systems is the inability to return funds if they are mistakenly sent to the wrong recipient. This is one of the main disadvantages of BTC and other cryptocurrencies compared to fiat money. Traditional currencies allow for this through an option called "chargeback." However, this option is also often used for fraudulent purposes, simply by declaring that the goods have not been accepted because they have not arrived at the buyer's door. As a result, the seller is not paid for their products. Therefore, the lack of chargeback, for all its inconvenience, is also a kind of advantage of cryptocurrency.
Do you want to add something to your website that allows you to accept payments in cryptocurrency, but you don't know how to do it? Then MEEG.IO is exactly what your online shop needs.
MEEG is a modern and reliable solution. It is suitable for any business which aims at the successful sale of goods and services. Its connection and setup are quick and easy. Our services work without any intermediaries, which guarantees complete confidentiality and security.
Setting up MEEG on your website is simple. Once done, you can claim that your online shop now accepts cryptocurrency payments.
In addition to accepting BTC payments, our company also helps with transactions such as various invoicing for payment or cryptocurrency exchanges with very small commissions. Of course, it doesn't stop there: MEEG.IO has many other features that are very useful for a wide range of different companies and businesses.
We also have a 24/7 support team. All of its specialists are not only very competent but also extremely friendly and helpful. If you have any questions about our service, feel free to contact us, and we'll be glad to advise you!
