Wednesday, August 29, 2012

It is Easy to Accept Bitcoins with BitPay

This blog is designed to give businesses some examples of how they can accept bitcoin as a form of payment, and why they should.

Bitcoin is an internet currency, and it offers tremendous benefits for businesses that collect payments over the internet.

Credit cards were never designed for the internet.  By design, the account numbers are always exposed, and the user always has to prove their identity.  This is acceptable for use in a retail store, but for an internet payment there is a huge risk of fraud.  And unfortunately, the credit card companies push all of the fraud risk onto the business that is trying to collect the payment.

Bitcoin is a much better solution for internet payments.  It functions like cash, where the sender pushes exact change to the recipient.  No account numbers are exposed, and the transactions are not susceptible to a chargeback or reversal.  It is like paying with a gold coin, or paying with cash over the internet.

For businesses that are interested in learning more about the easy tools to accept bitcoin, visit https://bitpay.com and browse through the tools for retail businesses, e-commerce businesses, and charities.