Bitcoin Definition

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.

Tell Us How They Treated You

Sharing your experience influences our rating and helps other business owners make informed decisions. Please take a moment to tell us if they are serving you well. Your email address will never be published, shared or sold. We only use it to authenticate that you are a real person and, if you select the option for it, to let you know if someone replies to your comment. Required fields are marked *

Comments must contain details about your experience. Please do not use ALL CAPS. Self-promotion, marketing content, or contact information of any kind will not be published. By submitting a comment, you are agreeing to our Comment Policy

Copyright

Copyright © CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.

Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.

Our Top Pick of 2022
helcim logo
star star star star star
Helcim Payments
done
No Monthly or Annual Fees
done
Super Low Processing Rates
done
POS, Mobile, and Online Payments
Sales & Support: (888) 506-7812
Thinking of working in merchant services? Download our free ebook first.
An Honest Buck ebook cover
Most Ethical Processor of 2024

The most ethical providers offer rock-bottom rates, no monthly fees, no contract, and superb customer support. Below we break them down by specialty and industry:

▶ Retail
▶ Restaurant
▶ Card-Not-Present
▶ Invoicing
▶ Online Checkout
▶ E-Commerce Store Creation
▶ Subscriptions & Recurring
▶ Web Developer Tools
▶ Mobile
▶ Non-Profit
▶ Canadian
▶ Seasonal
▶ Quickbooks Intergration
▶ Free (Zero-Fee) Processing