Bitcoin Merchant Account – When it comes to cryptocurrency, bitcoin is the most popular and most used digital currency in the world.
With the level of technological advancements taking place in this digital world of ours, lots of individuals & organizations love to run cashless policy and perform transactions using crypto-currency.
Over the years, bitcoin has become one of the most popularly used forms of crypto-currency with lots of individuals eager to earn and use bitcoin for transactions.
With the level of importance and popularity, crypto has gained over time; well-known companies now facilitate the use of bitcoin for business.
Companies like amazon, Newegg.com, Microsoft, Playboy, and many more use bitcoins for a wide range of transactions.
Popular companies, well-known brands, and small businesses now accept crypto as a form of payment. Users can easily make payments using bitcoins by scanning QR codes using their smartphones and bitcoin wallet app.
You can make online payments in various companies & online stores that accept bitcoin using your mobile device.
As a Bitcoin Merchant Account holder, you need to incorporate bitcoin into your business to make it easy for customers to make payments, and for you to receive payments too online.
You can create a Bitcoin Merchant Account to make it easy for you to receive payments, using bitcoin is easy, convenient, and you get your payments immediately. With the level of technological advancements now, bitcoin has become a new trend for online payments.
However, there are important aspects of bitcoin payments you need to know about if you want to go into the use of bitcoins for transactions. It’s important to know how to set up your bitcoin wallet, accept payments, and perform other functions.
How to Set Up Bitcoin Wallet
Your bitcoin wallet is your storage house for your bitcoins; you receive payments through your wallet, make payments, and bank bitcoin on your wallet.
As a new bitcoin investor, you need to know that bitcoin is an important feature for bitcoin payments.
Your bitcoin wallet has private keys which you can use to gain access to your wallet; these private keys show your ownership of the wallet.
You can initiate transactions and use your coins using your encoded private key. Once you have created your wallet, it’s important to manage your account properly, keep your password secure and remember it at all times.
If you can no longer access your account it makes coins available in your wallet not spendable. Use proper management backups when setting up a Bitcoin Merchant Account. Your private key is your own access to your wallet, and you need to protect it from being accessed by a third party.
Steps for Setting Up Bitcoin Wallet
To set up your bitcoin wallet, follow these steps:
- Visit blockchain.Info homepage, scroll to NEW TO DIGITAL CURRENCIES, then click on GET A FREE WALLET.
- Then enter your email &password, confirm password, toggle the terms of the service box. Choose a password you can easily remember then click CONTINUE.
- After reading the terms of service properly, click GET STARTED.
- Now your wallet is now online, you can now create an address for receiving coins by tapping REQUEST. An exchange account is needed to fund your wallet; once your wallet is funded you can send coins by hitting SEND.
- Before creating a wallet, you need to make sure the coins are compatible with the wallets. Once you know which coins a wallet will accept, you can decide which wallet you need. Blockchain.Info wallet shows you your wallet total in USD BTC, ETH or BCH. You need to protect your wallet from unnecessary risks and keep it secured.
How to Accept Bitcoin Payments
Bitcoin is the future for crypto-transactions and can be used across borders; it bypasses any country restrictions or local regulations.
You can easily accept payments from various parts of the world when you use bitcoin. As a merchant in this digital world, you need to incorporate bitcoin payments into your business. Bitcoin is an electronic payment system and is transferred online.
You can get immediate payments, receive payments from different users all over the world without facing unnecessary restrictions when you use bitcoin.
To receive bitcoin payments:
- You need first to set up your bitcoin account. You need to add important personal details while setting up your account. For new account owners, you are limited to $100 worth transactions per month. If you wish to remove these restrictions, you need to go through a verification process by adding ID, passport, address of in incorporation and company directors.
- You need to add your currency; your bitcoins are converted to such currencies when they are paid out in your account. EUR is recommended by bitcoin because of the reduction of fees for each transaction.
- Customers can send you bitcoins at your point of sale, once your account is all set up. You can send customers email messages containing a payment link to make it easy for them to send you bitcoin as payments. Also, you can provide your customers with a QR code which you can generate on the bitcoin website.
- You can also accept bitcoin payments on your website. Bitcoin offers an API which is incorporated with most online marketing websites and mobile apps. You can upload API to the backend of your website and configure the settings however you desire.
- After receiving bitcoin payment, you can decide to keep bitcoin in your wallet or automatically convert & deposit it into your bank. With the split options available, you can decide how much of your bitcoin cash should be kept in your account and how much should be deposited in your bank account.
In summary, Bitcoin currency is the future for online transactions, and you can start using it now to make a wide range of payments.
You can use bitcoin for your business, for ordering products from suppliers, for paying bills, paying employees’ salaries & many more.
However, you get to use bitcoin for varieties of transactions only in countries that allow it.
Finally, join other Bitcoin Merchant Account holders in using bitcoin to make the online transaction easy; you just need to set up your account to start receiving & making payments with your bitcoin wallet with ease.