Cryptocurrency business results according to their essence similar to ordinary business results, in this case, there is this economic result attached directly to your business. However, the difference, as you have previously thought, is in the name. Merchant accounts in cryptocurrency functions together with cryptocurrencies, not together with fiat money units, and this seemingly ordinary change transforms it into a rather large operation with very current positive results.
You most likely previously imagined that cryptocurrencies, unlike fiat ones, are in no way presented in the banking area, as well as for this reason cryptocurrency traders are inordinately held by so-called crypto-shadow banking.
However, do not worry anymore – certain platforms, such as Coinbase, operate in the same way as banks as exchange offices, providing significant security in comparison with simple banks as well as all without exception the advantages of cryptocurrencies for your commerce.
All the advantages of this kind of extraction as well as the commercial result of Coinbase are shown below.
Why cryptocurrency business is considered high-risk
Cryptocurrency commercial result turns out to be in the group of high-risk trader accounts according to the following circumstances:
Mechanical consent
Crypto payments are unknown and irreversible. There are no refunds, and besides the statement according to the plastic card. This means that the buyers have no chance to submit a request for a refund.
Lack of legislative regulation
Laws stabilizing cryptocurrency business are absent. For this reason, most European banks do not want to disclose the cryptocurrency commercial results. According to their view, this is equal to trading on the forex market, which is considered a very high risk [as long as the trader does not have a license in Forex].
Volatility
Again, cryptocurrency entrepreneurship is not regulated by almost any laws. Someone is entirely dependent on the trust of the village of people. If bitcoin drops, all other cryptocurrencies are guided by it without exception. This leads to uncertainty as well as volatility of cryptocurrencies.
Illegal use
Including the presence of a license, cryptocurrencies are highly risky because of the significant number of people who use cryptocurrencies for money laundering, buying/selling drugs, etc.
Benefits the merchant account will provide
By opening a trading account in our company, the client receives a lot of advantages:
Lower transaction fee
The average bank commission for a credit card transaction is from 2 to 4 percent, while the commission for a cryptocurrency transaction is usually fixed and does not depend on the transfer amount.
High security
At the most basic level, any cryptocurrency is a cryptographic tool (to a greater or lesser extent), which makes it much less susceptible to DDoS attacks and all types of fraud that traditional payment systems suffer from. Viable data is securely stored in the blockchain, where absolutely no one will have access to it.
Fast transactions and instant availability
The transaction takes place without the participation of third parties, and after processing it, you get direct access to your money through a cryptocurrency trading account. The account allows you to automatically convert money into fiat currency according to the schedule set by you.
New clients
Cryptocurrency is gaining popularity and recognition all over the world, even huge technology industries are investing in bitcoin, and there are rumors that banks will soon start accepting it.
Additional benefits:
- Transferring and receiving money from all over the world.
- Independence from banking systems allows you to transfer money at any time and on any day of the week.
- Lack of negotiations with banks.
To get reliable and universal merchant services and almost all services related to cryptocurrencies, pay attention to WELLCOINEX. You will be able to make and receive bulk payments without worrying about scammers and unreliable customers.
After all, our team monitors everything inside the company, including suspicious and unusual activity on your account, and outside – warning you about customers conducting suspicious activity.
Cryptocurrency merchant account features
One of our main concerns is the perfect lawyer’s credibility, for this reason, for example, the providers of the coin base trader do everything necessary to exclude money laundering.
Thus, any consumer is obliged to apply the coin base invention, providing all the required information to acquire banks and PSPs (payment service providers).
This can appear as a government expense of the period, but in the presence of this buyers are provided with an absolute lack of issues with the acquiring banks and the tax office. However, we assure you that WELLCOINEX will confirm your result quite quickly.
The following problems are solved with the WELLCOINEX cryptocurrency merchant account
- Prolonged regulation. I examine every application with special care, but our long skill enables us to minimize the consent period.
- The problematic outcome of money. You will get instant access to absolutely all of your cash and also include an automated total according to the schedule if you wish.
- Blocking trader’s immense. I strive to exclude this and also personally decide on all possible incidents without exception.
- Chargeback. Service according to the war together with cheating and also mitigation of the results of the Chargeback are no longer considered to be an issue for you.
The task of WELLCOINEX is to save money in payment processing and to make it extremely easy and comfortable so that you can concentrate on the current processes.
Our solutions are suitable for every size of business – from domestic to cross-border large-scale electric commerce.
Our productive commercial result makes it possible to process large amounts of currency money, for this reason, you do not need to change any amount, tariff projects, or subscriptions together with the increase of commercialization. All popular cryptocurrencies are readily available for you and your customers.