Cryptocurrency is gaining more and more traction all over the world. The number of people preferring to use crypto is rising globally. Increasingly, more merchants want to accept bitcoin for their businesses. So, what’s the current situation in the field? Who can help you with the right bitcoin merchant account? This article is about all these things.
Merchants Accepting Cryptocurrency: Bitcoin Merchant Account
A recent poll by the International Monetary Fund (IMF) shows that cryptocurrency is going to enjoy the highest popularity as a payment option for lunch by 2024. As you know, cryptocurrencies are virtual or digital currencies that are used without any centralized regulating authority.
Bitcoin (BTC) is the 1st decentralized cryptocurrency developed in 2009. It’s still the most expensive cryptocurrency worldwide. There exist other popular cryptocurrencies as well such as Bitcoin Cash, Ethereum, Dash, Mixin, Litecoin, Zcash, Bitcoin SV, and Monero. Ethereum accounted for the most transactions completed daily in Q4 of 2018.
By the way, the vast majority of the above-mentioned survey respondents note they’d choose cryptocurrency to pay for lunch within 5 years.
According to Kaspersky Labs, 13% of people in 22 countries have used Bitcoin for making purchases. Another research by DataLight reveals that Bitcoin is already the go-for option for large value cross-border transfer thanks to the free structure offered by the cryptocurrency.
What about you? Don’t you want to start accepting cryptocurrency? If yes, just consider turning to a reputable payment expert that can get you a secure and cheap bitcoin merchant account without difficulty. With a reputable payment processor, you can get the best merchant services to grow your business successfully.
Cryptocurrency Is on the Rise
Cryptocurrencies are becoming more and more popular all across the world. You may have heard about Facebook’s intention to dive into the crypto space. Well, the WSJ reports that the social media giant is already discussing its plans with Visa and MasterCard, as well as with several eCommerce firms and apps. Soon, it’ll be clear which of these potential partners has agreed to accept the Facebook Coin in their stores and even fund the project.
Coinbase, which is a popular US-based cryptocurrency exchange, says that the competition associated with their new cryptocurrency enabled visa debit cards is growing stronger. Another crypto Visa card by Crypto.com has recently secured over 100.000 card reservations across the U.S. and Europe. In addition, the company has also put into play its so-called Chain testnet.
Rakuten, the Japanese eCommerce giant, has already registered its cryptocurrency exchange Rakuten Wallet.
According to Patrick Byrne, digital retail giant Overstock.com’s CEO and founder, if the government wisely adopts emerging technologies such as cryptocurrencies, this can be the best way ensure the U.S. keeps its place at the forefront of the ever-advancing global economy.
To sum up, cryptocurrency acts as an extension of the cashless trend in more than one way. After all, it’s increasingly taking root around the globe since consumers are looking for greater retail payment convenience. So, it’s high time you thought about emerging digital payment options so to take your business to new heights.
Author Bio: Electronic payments expert Blair Thomas is the co-founder of high-risk payment processing company eMerchantBroker that can help you with the most secure and cheapest bitcoin merchant account. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.