Canadian Bitcoin Exchange

Bitcoin and how it can be leveraged in eCommerce

Author at TechGenyz Bitcoin

Cryptocurrencies have gained plenty of trust through their value exchange within many industries and also obtained an increased interest. Among all the other cryptocurrencies, Bitcoin stands out as the most pre-eminent and the leading cryptocurrency. So, when you opt for Bitcoin for your eCommerce store, you will receive an increase in sales and gain plenty of visibility within the online platform.

In this modern world, Bitcoin has gained plenty of popularity among the investment and within the eCommerce ecosystem.

You can click here to get started with Bitcoin and gain more benefits and rewards for your eCommerce store.

How can bitcoin help in the area of eCommerce?

There are many ways the eCommerce sector will greatly benefit through Bitcoin. They are –

1. Provides a low fee structure

You will come across payment methods, such as PayPal that might take a high transaction fee of around 5%. But in the area of Bitcoin and all the other cryptocurrencies, the transaction rates are much lower and it’s around 3%.

2. Decentralization

The power of decentralization stands out as one of the most prominent reasons why many eCommerce businesses are moving towards Bitcoin. Since it’s completely decentralized, it’s not controlled or governed by the central body. The red tape, such as the terms and conditions, is not available within the Bitcoin payments.

3. The devoid of chargeback

Bitcoin, from the view of the cash receiving merchants, is that transactions that are completed within this particular network are final. After that, it gets lodged within the nodal ledgers. This will not allow any customers to opt for a chargeback and will eliminate all the risks for the merchants.

4. Exchange risk moderation

When you start accepting payments through the international currency, you might come across the exchange rate risk, which is pretty inherent during the transaction. But for Bitcoin, the only risk that you will encounter is the buoyancy of the currency. Apart from that, you do not have to worry about the clearinghouse rate movements.

5. The speed of transaction execution

The traditional transactions go through many banks and clearinghouses for which take days or weeks to complete. But when you use Bitcoin or the crypto network, the transaction process will be much faster than you think. All the transactions will take place almost instantly, and they will be completely secure and safe.

Types of payment gateways available for Bitcoin eCommerce

When you have decided to use digital currency as the payment option, you can provide your customers the digital address of your wallet. To make the process simple, you can take the help of QR codes, which you can scan through the mobile phone.

There are three payment gateways, which you can use, such as BIPS, CoinBase, and BitPay. These payment methods have their own set of benefits, and you are free to choose the one that matches your eCommerce business.

Summary

Bitcoin has become universally popular due to various benefits. Thus allowing business owners, investors, and traders to earn money without any issues. Opting for Bitcoin for your ecommerce business will enable you to grow your business without any concerns.