Top Bitcoin merchant account partner providing Bitcoin merchant services

Lucknow: If you are dealing in Bitcoins there are the two major terms you should be aware with-- the Bitcoin Merchant Account and the Bitcoin Merchant Services.

A bitcoin is a digital currency founded in 2009 by people known as Satoshi Nakamoto. These cryptocurrency is stored, sent and received using e-wallets.

The bitcoin merchant account:

The merchant account helps you deal in these cryptocurrencies.

In a relatively new high-risk industry, finding the right banking partner for your bitcoin merchant account can be challenging.

Steps to get Bitcoin merchant account:

To get the Merchant account you have to simply speak to the merchant account manager of your bank or apply online with you bank website.

Companies who could accept these cryptocurrencies through your bitcoin merchant account:

• Amazon
• Bloomberg
• Chicago Sun Times
• CVS
• Dish Network
• eBay/PayPal
• K-Mart
• Las Vegas Casinos
• Microsoft
• MIT Coop Store
• OK Cupid
• Overstock.com
• Sears
• Target
• Tesla
• Tiger Direct
• Victoria’s Secret
• Virgin Galactic
• Whole Foods
• WordPress
• Zappos

Also Read: Bitcoin falls over 20% in Asia over new restriction fears

Factors that determine merchant account fees:

• Merchant Discount Rate
• Per Transaction Fee
• Monthly Statement Fee
• Monthly Gateway Fee
• Six-Month Rolling Reserve
• Chargeback Fee
• Refund Fee

So now, what does these merchant account partners do? They simple provide you some Bitcoin merchant services.

Bitcoin merchant services:

The merchant demands have grown with the growing industry of bitcoin and cryptocurrencies.

There has recently been an increase in the bitcoin merchant services that is benefitting both the retailers and consumers passionate about bitcoins.

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The top seven merchant services are:

• Bitpay
• Coinbase
• Bitkassa
• Coinpayments
• Coinsimple
• Coinkite
• 34 Bytes, LLC