Bitcoin provides a safe and inexpensive way of payment processing.
The lowest commission fee
The high level of Bitcoin cryptographic reliability allows you to carry out cheap and effective transactions. You can send or receive the payment through the Bitcoin network without almost any commission fees. In most cases, commission fees are not charged, but are recommended for the faster confirmation of your transactions.
Protection against fraud
Any company that accepts credit cards or Pay Pal faces the problem of payment cancellation. Fraud through payment cancellation leads to a narrowing of the market and an increase in prices, so the buyers have to pay more. Bitcoin payments are irreversible and safe, which means that companies do not have to include the possibility of fraud in the price of the product.
Fast international payments
You can carry out transfers in bitcoins from Africa to Canada in 10 minutes. In fact, bitcoins are not located in one particular area. Thus, it is possible to transfer any amount of coins to any location in the world without limitations, delays and commission fees. There are no intermediary banks that could make you wait for three working days.
You are not required to comply with the PCI standards
When you use credit cards online, extensive security checks are usually required in order to comply with the PCI standards. Bitcoin requires you to protect your wallet and your payment requests. However, you do not incur costs or liabilities, which are unavoidable in the case of processing the personal information of your clients, i.e. credit card numbers.
Draw attention to yourself
Bitcoin is a growing market with new clients who are looking for a way to spend their coins. Accepting payments in bitcoins is a good way to attract new customers and draw attention to your company. Adapting to new payment methods is a successful online business practice.
Bitcoin has a little-known feature that allows you to transfer funds only if a group of people sign this transaction (so-called transactions with “M of N” confirmations). This is analogous to the multisignature that you may use for certain banking transactions.
Many organizations are required to keep accounting data which includes all transactions. Bitcoin will allow you to ensure the highest level of transparency if you can provide information which your affiliates can then use to check your accounts and transactions. Non-profit organizations can also allow the public to see how much money these companies have received in the form of donations.