Influential Factors of the Current Bitcoin Value

Aug 12, 2014
bitcoin-logo-bitcoin-pictures-how-to-mine-bitcoin-make-bitcoin_thumb4Dealing in the bitcoin market is an exciting experience, it is still relatively new and it is only just becoming a payment option in some businesses. While considering this, many people are still wary of using the system to purchase goods.

The current bitcoin market is susceptible to a number of external factors that can fluctuate the market value of the currency. It is important to understand the reasons for the fluctuations; it can allow a greater understanding of an exciting part of the cryptocurrency world.

With no government influence of the currency, it means there are no political or religious ties to the currency. However, there are objections to a lack of government intervention, the cryptocurrency market is open to the potential of fraud and making the crimes punishable is difficult, as with each transaction no record of the personal details are kept.

The day-to-day use of the currency doesn’t have a direct effect on the value of the currency, but using the currency and the popularity can push the currency value up.

Another way to increase the value of the currency is the amount mined. Miners are able to hold onto the currency for a price increase, or sell on their currency to pay for goods and services that currently don’t accept bitcoin as payment.

The problem of using the currency in shops and businesses that don’t accept bitcoin as payment is changing. A credit card is available that allows you to use your bitcoin, even if the company doesn’t have a bitcoin merchant account. The transaction will work through their normal terminal.

The amount of companies accepting cryptocurrency for payment is increasing, but dealing with an unregulated currency, that is liable to fluctuations, can mean the company can lose money on conversion of the currency. When companies dump large amount of cryptocurrency in order to pay bills and wages, this means large amounts of currency can flood the market dropping down the value of the currency.

There are places that you can buy and sell cryptocurrency, these are on exchanges and typically, the value that you sell for, is lower than the purchase price.

Therefore, there are many factors that are influential to the bitcoin market, knowing how they work can help to determine if it is a currency for you.

Does your company need a Bitcoin Merchant Account? Contact us today to set one up in as little as 48 hours!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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