A cryptocurrency merchant account, at its core, is similar to a regular merchant account, meaning it’s a financial account tied specifically to your business. But the difference is in the name, as you might have guessed already. Crypto merchant account concerns themselves with cryptocurrencies rather than fiat currencies and these seemingly simple change makes it a fairly big deal with positive far-reaching consequences.
You probably know already that cryptocurrencies unlike fiat currencies aren’t presented in banking and hence the crypto merchant accounts being backed up by so-called crypto shadow banking. But worry no more- some platforms like Coinbase function just like banks and exchangers providing greater security compared to regular banks and all the advantages of crypto for your business. All the benefits of getting something like a Coinbase commerce account are further elaborated.
Benefits the merchant account will provide
Opening a merchant account in our company, provides the client with a lot of advantages:
- The transaction fee is lower. The average bank fee for the credit card transaction ranges from 2 to 4 percent meanwhile the fee for a crypto transaction is usually fixed and does not scale to the amount of transferred money.
- High security. At its most basic level, any crypto is a cryptographic tool (more or less), that makes it way less susceptible to DDoS attacks and all types of fraud, the traditional payment systems suffer from. The viable data is safely stored in the blockchain where absolutely no one will have access to it.
- Fast transactions and instant availability. The transaction happens without any third parties involved and after it is processed you have direct access to your money via the crypto merchant account. And the account allows you to convert the money to fiat currency automatically according to the schedule you’ve set personally.
- New Customers. Cryptocurrency gaining popularity and worldwide recognition, even huge tech industries investing in Bitcoin now, and there’s a rumor that banking will accept it soon as well.
- Transferring and receiving money from all over the world.
- Independence from banking systems enables you to transfer money at any time and any day of the week.
- No negotiations with banks.
For the secure and versatile merchant services and pretty much every service concerning cryptocurrencies look no further than WELLCOINEX. You will able to make and receive mass payments, without worrying about frauds and unreliable clients. As our team monitors everything internally including suspicious and unusual activity on your account, and externally- warning you about clients engaged in suspicious activity.
Cryptocurrency merchant account features
One of our primary concerns is absolute legal precision, that’s why we like, for example, providers of the coinbase merchant account make every necessary step to avoid money laundering. So every client needs to apply for the account, providing all the necessary details for acquiring banks and PSPs(payment service providers). It may seem like a bureaucratic time-stretching, but in doing so clients are ensured with absolute lack of the problems with acquiring banks and IRS. But we reassure you that WELLCOINEX will approve your account relatively fast.
The following problems are solved with the WELLCOINEX cryptocurrency merchant account
- Long approval. We review each and every application with utmost care, but years-long experience allows us to shorten the approval time as much as possible.
- Problematic withdrawal. You will have instant access to all your money and even automatic scheduled withdrawal if you want.
- Blocking a merchant account. We try to avoid this as much as possible and personally resolve any possible conflicts.
- Chargeback. Chargeback fraud and mitigation services as well are no longer a trouble for you.
The purpose of WELLCOINEX is to save you money on your payment processing and make it as seamless and easy as possible so you could focus on matters at hand. Our solutions are refect for a business of any scale- from domestic to cross-border large-scale eCommerce.
Our high-capacity merchant account allows the processing of high volumes of money so with the growing business you won’t have to change accounts, plans, or subscriptions. And all the known cryptocurrencies are available for you and your clients.