Which merchants accept Bitcoin?
Each Bitcoin price increase brings in a new wave of merchants. Bitcoin's jump to $1, 100 in 2013 pushed merchants like Microsoft, NewEgg, TigerDirect, and Dell to accept Bitcoin payments online.
Accepting Bitcoin payments makes sense for any business. This guide will explain the benefits of accepting Bitcoin and how to integrate it with your store or business.
Low Fees
Most Bitcoin payment processors charge 1% or less per transaction. Most merchants pay when 2.9% + 30¢ per transaction when accepting PayPal and credit cards. Better yet, accepting Bitcoin without converting bitcoins to local currency is completely free.
With BitPay, small merchants can accept up to , 000 per month for free.
Fast
Unlike credit card payments, which take weeks to complete, Bitcoin transactions can be accepted and verified as complete in minutes. Bitcoin payment processors take on all risk in the case of a failed payment.
No Chargebacks
There are no chargebacks with Bitcoin. Any confirmed transaction is protected by the network and can't be reversed. Remember: Bitcoin is digital cash.
Global
Businesses can accept bitcoins from any country in the world, with no risk of fraud or chargebacks.
New Customers
Bitcoin users love support Bitcoin-accepting merchants. Get the word out that your business accepts Bitcoin, and you'll get access to a new wave of customers.
Features to Look for in a Bitcoin Merchant Processor
- Can I get a unique Bitcoin address for each transaction?
- How is the exchange rate calculated?
- How fast are payments approved?
- What is my exchange rate risk?
- How do I receive the funds?
- Are there any fees involved?
- How can I see a listing of my sales?
Bitcoin Payment Processors
Bitaps provides Bitcoin processing RESTful API without registration and restrictions. API includes basic processing, affiliate and mass payments, Bitcoin smart contracts to keep distributed hot wallet and cold storage balances, standard Bitcoin ledger API, market prices and a lot of other tools for developers.
BitPay is the world's largest Bitcoin payment processor. It's used by major companies like Microsoft, Rakuten, and Newegg. Merchants on BitPay's starter plan can accept up to 30 transactions or $1, 000 of Bitcoin payments per month for free. Larger merchants pay just 1% per transaction.
Blockonomics helps individuals and businesses accept payments using the wallets they already own, in a decentralized and permissionless way. Individuals can send anyone a professional invoice that stays current with the Bitcoin exchange rate. Websites and users can use their API/web interface to generate and track bitcoin addresses.
Companies like Dell, Expedia, and Overstock use Coinbase to accept Bitcoin payments online. Coinbase charges just 1% to convert bitcoins to fiat, and the first $1, 000, 000 of transactions are completely free. Like BitPay, merchants using Coinbase to accept Bitcoin can select to keep any percent of each payment as bitcoin.
