Are Bitcoin Payment Services the same as Credit Cards?


The most popular cryptocurrency is Bitcoin and it has been named by few as the safest currency on the internet. If a person takes proper safety measures one can send and take money from anyone showing and information related to their bitcoin wallet. Some of the other cryptocurrencies are also sighted in a flow in a transaction. Many traders have started providing payment linked facilities that make and obtain payments in crypto so that’s why there is a surge in accepting digital currencies.

Cheers to these types of digital currencies now you can pay for even a small thing like buying from food outlets by just scanning from your smartphone or purchasing a car from a recognized company and paying them in bitcoins.

What is bitcoin Payment Service?

Bitcoin payment service allows commercial and trades to get payments in the form of bitcoins from the separate for the properties and facilities being sold. The working of this is the same as card payment service with some particulars to bitcoins. The bitcoin payments act like a middle layer among the customer who is paying and the one who is receiving while the processing is being done. They also give the option to whether to pay online or at physical locations deprived of the purchaser or the retailer disquieting about the composite contextual procedure of bitcoin payments that are executed in the background.

In what manner Bitcoin Payment Service Work

All famous bitcoin payment facilities provide a different medium for wholesalers so they can receive bitcoin payments. They contain solutions for numerous platforms which include mixing with some of the commerce platforms for example Shopify and Magento and for straight payment form inside the general billing and book-keeping answer like Invoice Ninja.

Some of the advantages of Bitcoin Payment

If we compare bitcoin with a standard credit card the bitcoin payment significance will be cheaper as it has very little transaction costs. The best payment service is Bitpay and it only takes one percent transaction fee. It is much cheaper if we compare it with others. The bitcoin payment can be sent worldwide from mobile or desktop. Bitcoin also provides a service that will keep the transparency in the extremely active exchange in the middle of fiat currency and bitcoin currency. Because of these types of services, trade not only gets many intermediates to receive worldwide payments he also gets a trustworthy and reliable character.

Major Players

Bitpay is one of the most popular offerings which is accessible in the US. Coinbase is also a crypto exchange that provides a merchant app for trade for bitcoin payment facility. There is a diversity of fiat currency in which settlement is accessible. Bitpay delivers straight credit accounts in every currency and BTC. It provisions straight bank credit in approximately thirty-eight countries and provides BTC settlement in approximately two hundred forty in the world. If you are interested in bitcoin trading then visit epodcastnetwork.com

The risk to Existing Card Processing Facilities

The general increasing receiving of BTC is revealing of many worldwide users eager to manage them. The nonstop growing effect of the borderless budget which is not in control under any of the authority is also knocking the trade of old commercial and card payment into the risk. A time where each one was allocated into the fiat money to this time where there is a cumulative part is turning to the crypto money.