along with the widespread adoption of Bitcoin and other crypto currencies, now various online stores are beginning to adopt the crypto payment system. One of the most popular e-commerce services in use today is BitPay. Why is BitPay much touted in the use of Bitcoin? To understand the problem, let's get to know first about what BitPay is.
About Bitpay
BitPay is a global Bitcoin payment service provider headquartered in Atlanta, Georgia, United States. Founded in May 2011 by Tony Gallippi and Stephen Pair, BitPay provides Bitcoin and Bitcoin Cash payment processing services to online businesses, and is one of the largest Bitcoin payment processors. In 2014, BitPay processes transactions with Bitcoin up to $ 1 million each day. In the same year, BitPay announced a partnership with Microsoft, NewEgg, TigerDirect, Warner Bros.. Records, as well as PayPal's payment system.
BitPay allows online merchants to accept Bitcoin as payment for a transaction. Formally, BitPay enters into a Bitcoin transaction on behalf of the merchant, and converts the amount of Bitcoin to one of 30 merchant selected currencies. Bitpay reduces the risk of Bitcoin price volatility by allowing traders to accept Bitcoin that is immediately converted into local currency.
BitPay transactions can not be canceled, making them suitable for internationally working merchants. In 2013, it was announced that merchants could receive Bitcoin and receive fiat currency the next day at a cost of 0.99%. In addition to bidding-commerce, BitPay also has POS (point-of-sale) integration with SoftTouch, VisualTouch, DC POS, and Web and Android apps. The company also provides payroll APIs, so American employees can choose to have all or part of their salary paid in Bitcoin.
Bitpay also offers several other benefits, such as average prices, guaranteed rates, daily bank settlement, and the option to import Bitcoin sales into Quick Books. In other words, Bitpay is a complete solution for online merchants who receive payments via Bitcoin.
What are BitPay Services?
Bitcoin is acceptable for various products and services. Here are some examples of BitPay facilities that can be utilized:
Online Payments
The payment system in BitPay makes online payment experience easy and convenient for customers on any device, customers can also pay in just two short steps.
E-Commerce Platform Integration
Receive Bitcoin and Bitcoin Cash with BitPay platform easily and quickly.
Shopping Cart Plug-Ins
If you use one of the leading open source shopping cart software solutions, Bitpay allows seamless integration. Use the plug-in provided by BitPay to add payments to your online Checkout.
Website Payment Button
The payment button for your website can be generated directly through the merchant dashboard. You just need to copy the Embed Code into the site.
Point-of-Sale Integration
Merchants who use a POS service provider or a Bitpay partner's sales point can activate a payment with just a few clicks.
BitPay Payment Application
Merchants can use BitPay Checkout to receive Bitcoin and Bitcoin Cash payouts on iOS or Android based Smartphones.
Billing
The BitPay billing tool allows merchants to charge and receive payments in no time. You can also take advantage of the Bitpay billing feature via email that can be scheduled.
How does the BitPay Payment System Work?
In a payment mechanism with Bitcoin, a merchant may choose to have Bitcoin balances transferred to a bank account once per business day, or to receive payments to their Bitcoin Wallet address once per day.
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BitPay is available in almost every country, which means that merchants can select more than 150 currencies as Bitcoin conversion destinations they receive from the payment system. This is especially useful when traders market products internationally, as there is no limit to the different currencies that hamper the smooth selling of products or services.
How many BitPay Fee?
BitPay is the most affordable Bitcoin processor with various service options for merchants. Most BitPay services are even provided free of charge without any hidden provisions. The average price model offered by BitPay is also much more affordable than other similar payment processors.
Merchants may choose from Starter Accounts that do not have monthly fees, but impose a 1% transaction fee, or open their respective Professional, Business, or Corporate selections each having their own uniqueness and tailored to the size of the transaction. Professional accounts have higher offerings, 0% transaction fees, while Company accounts accommodate VPN access.
How To Register Bitpay
- Please visit BitPay's official website.
After entering the official website, please click the dialog "Start Now" or "Sign Up" to open the registration form.
- Please select from the following menu.
First choice: Allows you to create a "BitPay Card" account and convert Bitcoin into Dollars for use in merchants who accept Visa.
Second option: Receive Bitcoin as a customer payment system, and convert it into a conventional currency. In this BitPay list guide, we will select the second option (as POS).
- Fill in the necessary personal data.
Please fill out from "Organization Name" to "Password", do not forget to check "I Agree to the Terms of Use and Privacy Policy", and confirm Catpcha.
After you click "Create Account", please open the email and click the confirmation email link sent.
Confirm Business Identity and Bank Account or Bitcoin.
Please next confirm your personal or company data by going to dialog "Get Verified". Then, fill in your bank account and Bitcoin Wallet data in the "Add Setting Information" section.Select one of the services provided by Bitpay for further integration.
For the full guide you can see in the following video:
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Selecting Bitpay as a payment processor can offer you three great advantages for merchants:
Ability to monetize global markets. For merchants serving international customers, Bitpay allows payment instructions to be presented in English and ten additional languages.
Elimination of price volatility. The Bitcoin market can move so extreme that Bitpay's Bit of Bit seeks to overcome its risk by guaranteeing the exchange rate during checkout using their exclusive Bitcoin Best Bid (BBB) tariff calculation. This feature uses factors in real-time Quote from various Bitcoin exchanges.
Easy integration. Merchants can manage their payment gateways quickly, and BitPay provides dozens of "shopping cart" plug-ins that make integration simpler.