Merchant Account Bitcoin Explained:
What is Bitcoin? Bitcoin, often abbreviated as “BTC,” is a largely unregulated digital currency that can be transferred from peer to peer via any two internet-capable devices. Bitcoin is not generated by a central bank or other financial authority, and the global community has yet to reach a consensus on how this new form of currency should be regulated, traded, and valued.
Bitcoins are bought and sold on open online exchanges for variable prices against the value of other currency. This exposes the Bitcoin’s exchange rate to extreme fluctuation. Since its introduction in 2009, Bitcoin has appreciated considerably overall, generating interest from banks and large businesses as a potential investment. Due to its relatively anonymous nature, it has come under fire for being used as a payment method for illegal purposes. There are also some concerns among businesses about the security of a decentralized digital currency. At this time, Bitcoin payment processing is in its infancy and is the subject of ongoing review as to its legality. Whether major merchant account providers will ever process Bitcoin-based transactions remains to be seen.
Bitcoin Video Explanation
Use of this video does not constitute an endorsement of any kind by CardPaymentOptions.com.
About Phillip Parker
Thank you for reading my review. I hope that it has helped you with your research.
Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services
I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.
From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.
Phillip Parker
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