A Bitcoin payment processor is a company that allows businesses to accept Bitcoin payments from their customers says Brian Colombana. There are many different processors available, so it’s important to do your research before deciding which one to use.
Here are 15 tips for choosing a Bitcoin payment processor:
1. Make sure the processor is reputable and has a good track record:
You don’t want to do business with a company that has a history of fraud or scamming customers.
2. Check to see if the processor is registered with the Financial Crimes Enforcement Network (FinCEN):
This is important, as it means the processor is compliant with federal regulations governing Bitcoin transactions.
3. Make sure the processor has robust security measures in place:
Your customer’s data should be protected with the latest encryption technology.
4. Find out what fees the processor charges:
There can be various fees associated with using a Bitcoin payment processor, so make sure you know what they are before signing up.
5. Read reviews from other businesses:
The best way to get an idea of how a processor works is to read reviews from other businesses that have used it.
6. Make sure the processor has a good customer support system:
If you have any questions or problems, you’ll want to be able to get help quickly and easily.
7. Find out what type of payments the processor accepts:
Not all processors accept all types of payments, so make sure the one you choose does the type of business you do says Brian Colombana.
8. Make sure the processor offers a merchant account:
This will allow you to receive payments in Bitcoin and then convert them to fiat currency.
9. Check to see if the processor has an app:
This can make it easier for you to process payments on the go.
10. Make sure the processor has a good reputation:
I cannot stress this enough. You do not want to associate your company with a shady processor.
11. Find out if the processor offers refunds:
Some processors offer refunds for transactions that are not processed correctly, while others do not.
12. Check to see if the processor has a low processing limit:
Some processors have a low limit for the number of Bitcoin transactions you can process each day/month says Brian Colombana.
13. Find out what type of support the processor offers:
This ranges from email support to live chat support and everything in between.
14. Make sure the processor has a good reputation:
Seriously, I cannot emphasize this enough.
15. Determine how the processor will handle chargeback’s:
Some processors will process chargeback’s for you, while others will not. You’ll need to decide what’s best for your business.
Choosing a Bitcoin payment processor can be a daunting task, but following these tips should make the process a little bit easier. Do your research and ask lots of questions before deciding which processor is right for you.
FAQs:
Q: What is a Bitcoin payment processor?
A: A Bitcoin payment processor is a company that allows businesses to accept Bitcoin payments from their customers. There are many different processors available, so it’s important to do your research before deciding which one to use.
Q: What are the fees associated with using a Bitcoin payment processor?
A: There can be various fees associated with using a Bitcoin payment processor, so make sure you know what they are before signing up.
Q: What type of payments does the processor accept?
A: Not all processors accept all types of payments, so make sure the one you choose does the type of business you do.
Q: What is the processing limit for the processor?
A: Some processors have a low limit for the number of Bitcoin transactions you can process each day/month.
Q: How do I know if a Bitcoin payment processor is reputable?
A: The best way to determine if a processor is reputable is to read reviews from other businesses that have used it. You can also check to see if the processor is registered with FinCEN.
Conclusion:
Choosing a Bitcoin payment processor can be a daunting task, but following these tips should make the process a little bit easier says Brian Colombana. Do your research and ask lots of questions before deciding which processor is right for you.
