What is Bitcoin?
Bitcoin is a virtual currency that allows people to send and receive money via the internet. It is a decentralized currency that does not rely on central banks or traditional financial institutions.
Bitcoin transactions are verified with a process called "mining" and all transactions are stored in a public ledger called a blockchain. This process of verifying transactions usually takes between 10-20 minutes and is relatively fast compared to international bank transfers.
Adding Bitcoin payments allows merchants to receive payments via a currency that is truly global.
How does it work?
When a consumer chooses to pay with Bitcoin, a voucher will be created with a QR code. The consumer will scan this QR code with their Bitcoin wallet app and the consumer will confirm the transaction from their smartphone.
- Secure payment processing.
- Allows for larger payments.
- Accept Bitcoin and receive settlements in EUR or USD.
- Reach consumers that do not use credit cards.
- No registration costs or monthly fees.
- Anybody can hold and spend Bitcoin.
- Ideal for consumers that do not wish to use bank cards online.
- Fraud protection.
- Worldwide coverage.
- Allows for payments up to €1,000.