How does accepting bitcoin payments work?

Merchants who desire to embrace crypto payments and adapt to their customers' preferences can do this with the help of a crypto payment gateway like BitHide. Once vendors find the gateway that suits their company's needs, accepting bitcoin is carried out by this means.

Users choose to pay with bitcoin on your web or in-app, and the remittance is promptly sent to your wallet thanks to the payment gateway processing.

Why accepting bitcoin payments on your website is good for your business

Accepting cryptocurrency as a remittance method for your commerce company can

  • lower transaction processing costs
  • protect merchants from fraudulent chargebacks
  • expand your market by satisfying your consumers' payment preferences

With BitHide, you can accept payments for various brands of your business and track every income flow separately. First, let's investigate other advantages of our solution.

Benefits of partnering with Bithide

Accepting bitcoins will: save your business money in fees, make your transactions faster, and enlarge the number of payment options for your clients.

But other than that, BitHide offers you the following:

BitHide makes your transactions untraceable thanks to the Dark Wing technology, a 2-stage encryption process. First, TOR hides your physical address. Second, since TOR encryption doesn't allow access to the blockchain nodes, VPN encryption is used here.

Thanks to our technology, you can stop worrying about transactions coming from suspicious accounts. BitHide's service differentiates "risky" and "safe" transactions and isolates those that can negatively impact your wallet structure. Still, the withdrawal of these funds is possible.

Data storage on private servers allows you to decide whether to comply with AML and KYC policies. This lets you receive cryptocurrency in any form and amount from any buyers without revealing your identity and fee details.

You can receive charges for different accounts of your business and maintain each transaction individually. Upon installation of BitHide, link as many merchants as you need and manage multiple-source transactions in one wallet.

We have a tool that automatically withdraws funds during the lower commissions and higher rates periods. This feature also saves you money and time since it eliminates the need to withdraw funds manually.

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How to accept bitcoin payments?

To accept crypto payments on websites, platforms, or in-app, use a third-party payment gateway like BitHide. Here, your to-do list is narrowed down to the following three steps:

Step 1: Set up a merchant wallet account.
Step 2: Connect the crypto payment gateway to your software.
Step 3: Enjoy multiple cryptocurrency options at your points of sale.

Is it legal to accept bitcoin as payment?

The legal status varies according to the jurisdiction. For example, digital assets are treated as property for federal tax purposes, so you may be required to report your digital asset activity on your tax return.
On the other hand, according to the U.S. Library of Congress, some countries have been banned the usage of cryptocurrency completely, so please check the current list before implementing this payment method.

How can companies accept bitcoin for payment?

The easiest way for companies is to start using a crypto payment gateway accepting BTC. For instance, with BitHide, you only need to install the software on your servers and connect it to your platform, application, or website. After that, BitHide will take care of everything else.

Got a question?

Ask them in the feedback form. A BitHide specialist will get back to you as soon as possible.