For online merchants who want to accept Bitcoin, Dash, or any other cryptocurrency as a method of payment, it can be difficult to find a merchant services provider that understands your needs. Online merchants that accept cryptocurrency as a method of payment must comply with a variety of guidelines and restrictions. One of the most significant implications is that you must choose a merchant services provider that supports the cryptocurrency you will be processing. Luckily, Bitcoin is one of the most popular cryptocurrencies, and thus, there are many options to choose from when it comes to finding a merchant services provider that supports your favorite cryptocurrency. In this article, we will discuss the best merchant service providers for online businesses that process Bitcoin, Dash, or any other cryptocurrency as a method of payment. Features The best Bitcoin merchant services providers will offer you a variety of features that make your life easier as a business owner. Some of the most significant features that you should look out for are: multipayment processing (savings, refunds, and interest) escrow management chargebacks bill management restrictive credit policies inbound product/service integration marketing/promotions full merchant data analysis 24/7 live chat support multi-language support phone support desktop support web-based dashboard multi-currency support Some of these features might seem obvious, but having them all bundled together in one place will save you a significant amount of time and reduce the number of errors that you make, which could ultimately result in higher processing volumes and profits. Security The last thing you want to do as an online business owner is spend your time dealing with customer-related security issues. To avoid this, the best Bitcoin merchant services provider will give you a variety of security protocols, tools, and applications that you can use to secure your site. Some of the most significant protocols that you should look out for are: SSL (Secure Sockets Layer) TLS (Transport Layer Security) DDoS (Distributed Denial of Service) DMARC (Domain-based Message Authentication, Reporting & Challenges) SPF (Sender Policy Framework) PKI (Public Key Infrastructure) It is also important that your favorite Bitcoin merchant services provider offers you the option to integrate with hardware wallets like the Ledger or the Trezor. Integrating with these devices provides you with additional layers of security because they directly control and access your Bitcoins. Customer Support No business owner likes to spend their time dealing with customer-related issues, but the best Bitcoin merchant services providers will make your life easier by providing you with a variety of support options, including live chat, email, and phone support. Live chat is usually the best option when it comes to customer support because it provides you with a fast, direct line of communication with your customers whilst also allowing you to be available for whenever they need you. Email support is also highly regarded because it provides you with the ability to respond to customer inquiries at any time, irrespective of whether you are physically present or not. Phone support is considered the least professional of the three support options because it puts you at the mercy of the telephone equipment that you are using, which can sometimes go down, resulting in missed connections or wrong connections. These things happen, but generally, phone support is adequate for routine questions where you are able to narrow down the possible answers that could be applied to your situation. Whichever support option you decide to go for, make sure that you are completely satisfied with the quality of service before signing anything. If you are not completely satisfied, you run the risk of ending up with a poor performing merchant services provider who will cause you a lot of problems in the future. Fees One of the most significant costs that you will face as an online business owner who accepts Bitcoin is related to fees charged by the payment provider. To avoid this, look for a Bitcoin merchant services provider who has a flat rate for each transaction that they process. Another key consideration is whether or not the provider you are considering uses a high-cost payment processor like Visa or Mastercard, as these charges usually end up being passed on to the customer in the form of higher prices. Credentials A company's credibility can often be judged by the quality of their customer support, so it goes without saying that you want to hire a company that is highly regarded and has a sterling reputation in the industry. The best way to do this is by seeking out recommendations and checking the company's credentials before making any contracts. Recommendations from trusted individuals in your industry are considered the most effective way of judging the credibility of a business. Industry leaders who have worked with the company in the past will likely be the ones to advise you on whether or not to do business with them. Credentials can be checked by doing an online search for the company name and entering the credentials portion of the Google search box. This should bring up a variety of news stories, reviews, and other kinds of content that can help you make a more informed decision about whether or not to work with the company. Keeping all of this in mind, let's now take a look at three of the best Bitcoin merchant services providers available today. BitPay If you're looking for a one-stop-shop for all of your Bitcoin-related needs, BitPay is definitely the company that you should consider. BitPay provides a variety of features that make every aspect of cryptocurrency management easier for businesses and individuals who use it. The vendor's software is completely free and open-source, and they also offer a variety of plans that can be customized for your needs. BitPay's main selling point is that their pricing is transparent and simple to understand. You will not be charged any fees for using their services, but you will have to make a one-time purchase of Bitcoin in order to get started. After that, all monthly charges (in the form of Bitcoin) will be taken care of by BitPay on your behalf. There are no minimums to speak of, so you will never be charged for services that you don't use. The downside to BitPay is that their platform is not entirely compatible with all devices, especially mobile phones. As a result, you cannot access your account information on the go. Thankfully, the vendor does offer an iOS app that allows you to view all of your details including transaction histories and manage your payment addresses and payment methods without being connected to the internet. The BitPay Android app comes complete with an Amazon gift card that you can use to make purchases in your store. You don't have to use the gift card immediately, so you can wait until you have established a bit more trust with the company before applying it. Nano Payment Nano Payment is another excellent option for online merchants who want to accept Bitcoin. They provide a variety of attractive pricing options for small and medium-sized businesses, as well as individual consumers, who want to make Bitcoin purchases. With Nano, you will not need to purchase Bitcoins yourself in order to make transactions. All you need is a digital (hard) wallet that you can integrate with your website's payment system. Nano's primary function is to enable individuals and businesses to make instant, on-the-spot Bitcoin purchases. This peer to peer, electronic cash system allows you to settle Bitcoin transactions in just a few minutes. All of the processing is done anonymously, so there are no middlemen involved and no one has access to your financial information. This also makes transactions completely untraceable, so you can feel confident in making as many purchases as you need without fear of your personal details being accessed by anyone else. Everything is done automatically, and all you have to do is monitor the progress of your transactions. If everything goes well, then there will be no visible signs that a Bitcoin transaction took place. The downsides to Nano are that it doesn't offer the most advanced features available and it only works with digital wallets (i.e. those that store private keys in a protected environment). The good news is that Nano is a very trusted and a highly regarded company in the industry, and more and more people are discovering the benefits of Bitcoin and other cryptocurrencies every day.
merchant services
