Volatility Still Haunts the World’s Biggest Digital Currency

Jan 20, 2020

2019 turned to be a less wild year for Bitcoin (BTC). However, BTC is still faced with volatility, causing harm to the world’s top digital currency’s potential as a payment method. To dive deeper into the topic and know who can best help you with a Bitcoin merchant account, keep on reading this post.

Bitcoin Merchant Account: What to Know

On the whole, a cryptocurrency can be defined as virtual/digital money that in the form of the so-called “tokens” or “coins.” Bitcoin appeared in 2009, thus becoming the 1st cryptocurrency. Ever since it’s been playing the most significant role in the market. As of January 17, 2020, Bitcoin gained after 2 days of declines, up 1.3% to about $8.800.

Did you know that the operation of cryptocurrencies 8is based on running servers to crunch mathematical puzzles, or “mining?” In fact, the world of cryptocurrencies is bigger than mining. By the way, China is currently playing a leading role in Bitcoin mining.

Be aware that Bitcoin mining isn’t illegal and is being completed by running SHA256 double round hash verification processes. The latter makes Bitcoin transactions valid and provides the requisite security for the public ledger of the cryptocurrency’s network.

What about you? If you’re interested in a Bitcoin merchant account, just consider applying to a reputable payment processing company like eMerchantBroker.com to enjoy the safest and cheapest transaction processing in the space. With a true payment expert like EMB, you can take your eCommerce business to the next level fast and easily.

Bitcoin Leads the Pack of Cryptocurrencies

Bitcoin is still topping the list of cryptocurrencies in terms of market capitalization, user base, and popularity. Ethereum, XRP, and other types of digital money that’re being used mainly for enterprise solutions are also gaining traction.

According to the Wall Street Journal, Bitcoin was up nearly 22% in the 1st 15 days of this year. This has been the best start-of-year since 2012.

Daniel Krawisz, a leading cryptocurrency philosopher, thins that Bitcoin’s value will be $100.000.000 by 2030. Krawisz further notes that no currency can stand in the way of Bitcoin world dominion because of the expected mass adoption by the currency.

To sum up, Bitcoin isn’t just playing a trendsetter role in the industry. It’s turned into the de facto standard for cryptocurrencies. It’s gaining more and more traction.

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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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