Accepting money in crypto payments and receiving funds directly to your bank account has become increasingly necessary. With a SecureGlobalPay Merchant Account, did you know that you can now accept Cryptocurrency as a form of payment? As experts in the industry, we can help you set up Cryptocurrency with your payment processing account.
Importance of Crypto Payments
Cryptocurrency has certainly become more mainstream over the last few years. There is a vast amount of interest in this type of payment. It is a global phenomenon that has captured the interest of prospective buyers from around the world. SecureGlobalPay is in a unique position to help you accept cryptocurrency with our unique partnerships that offer the best in processing pricing.
Cryptocurrency has definitely made its way into online eCommerce stores as more and more businesses accept cryptocurrency. Both big corporations and small enterprises like restaurants and coffee shops are interested in crypto payments. Are you a business owner with an online presence? If yes, accepting various payment methods for your customers will benefit your business and help it to grow. Crypto payment methods should be integrated into your website.
Cryptocurrency is not just taking the online world by storm. Many brick and mortar retail stores are starting to accept cryptocurrency as well. It is finding it’s way into a variety of POS (Point of Sale) systems, which are typically the internal system that collects credit cards in brick and mortar stores. Banks and credit card networks are also becoming more and more involved in accepting cryptocurrency.
How Does It Work?
If you are familar with cryptocurrency, you may have heard the term blockchain, which is the system used to record all crytpocurrency transactions. The transactions are recorded across multiple computers in a peer to peer network setting. This system is essentially a secure and decentralized payment system. This platform is encrypted and secure so that your payments are safe. Currently, Bitcoin and Ethereum are the most common types of crypto payments.
Many find cryptocurrency to be too cutting edge and do not see a need for this currency. However, we recommend our small business owners reconsider this idea as cryptocurrency became mainstream in 2017 when Bitcoin rapidly rose to almost $20.000 per coin.
As for small businesses, there might be various reasons to accept crypto payments. Being at the forefront of technology is one of these reasons. Another reason is to be able to attract customers who use crypto. Eliminating some kinds of payment processing fraud is another reason as well.
A few other things to know about cryptocurrency is that transactions, as mentioned above, are solely made”peer to peer”. What this means is that buyers literally transfer funds directly to sellers. There is no third party involved which makes cryptocurrency decentralized. In other words, it is not backed or regulated by any central bank or government.
Another possible drawback to cryptocurrency is that the pricing is very volatile. This makes the cryptocurrency value unpredictable and hard to understand.
SecureGlobalPay is a high risk payment processor based in the United States and offers your business the ability to accept cryptocurrency, including Bitcoin payments. SecureGlobalPay can set you up with a cryptocurrency merchant account so that you can start accepting cryptocurrency today. We will help make the process as seamless as possible.
Cryptocurrency is a growing technology. It adds thousands of new users each and every week. If you’re a merchant trying to understand how to accept crypto payments, give SecureGlobalPay a call today and we can take care of the rest.