05th Aug 2020
What are Crypto Payments and How do They Work?
In recent years, an increasing distrust of banks has created a climate that is ideal for the rise of alternative payment options like Bitcoin and other digital currencies, which are secure and put users in control.
How do crypto payments work?
Accepting Bitcoin, Litecoin, and Ethereum for your business is easy! Below we will break down the steps of a crypto transaction and explain how it works:
- When checking out, the customer chooses to pay with the cryptocurrency of their choice.
- CryptoBucks generates a QR code for customers to scan and send payment.
- From there, the merchant receives a completed transaction response in the CryptoBucks app.
- CryptoBucks converts crypto to USD and deposits the funds into the merchant’s bank account.
Pretty simple, right? Now let’s explain some of the reasons to consider accepting crypto payments for your business:
Why should I accept crypto payments?
- It’s easier to make international transactions. Merchants can receive payments from anywhere, from any device, with no foreign-exchange fees, currency conversions, or traditional wait times.
- Fraud prevention- no more customer disputes or chargebacks! On the CryptoBucks platform, once the transaction hits the blockchain, there’s no reversing it or stopping it, and no charging it back—a major win for merchants!
- It gives your business a competitive edge. A recent study found that 11% of the American population owns Bitcoin, and this number is even higher among younger generations. Merchants can embrace the rising demand for alternative payment methods by being among the first to accept crypto payments.
- It’s free! That’s right, we offer crypto processing FREE of charge with any approved merchant account. We also offer free crypto processing to all non-profit organizations.
Get started with crypto payment processing for your business!
CryptoBucks allows merchants to securely accept Bitcoin, Litecoin, and Ethereum (ether) payments. Whether you’re a crypto expert or just getting started, CryptoBucks has the tools for you:
- A lightning-fast signup process, where merchants can upload documents, get approved, and get credentials in just minutes!
- All sales are converted to USD and paid out in two business days!
- All crypto transactions are reported as soon as they are processed. Users can monitor the status of all funds, and funds will be transferred directly to your business’ bank account.