Do you want to accept Bitcoin as payment in your business? Businesses that accept Bitcoin and other cryptocurrencies open themselves up to bigger markets and more opportunities.
But this comes at a cost – your regular bank is unlikely to provide you with a Bitcoin payment gateway. Read to find out why, and what you can do instead.
The traditional banking system goes back hundreds of years, and even today some of the biggest players in international banking can be traced back to the bloodlines of its earliest participants.
That’s not to say that there is some kind of a global conspiracy going on within banking, but to point out that it’s an old and somewhat archaic institution. Banks hold immense power, and as any organization with power, they are not very keen on losing it.
This was working pretty well for the banks, until Bitcoin entered the picture in 2009.
Bitcoin introduced us to a new way of handling transactions – one that is far more efficient, quick, secure, and anonymous that anything we had before.
This is already enough to make the banking system sweat, as these traits are very competitive with what the banks have to offer.
But as the cherry on top, Bitcoin and cryptocurrency in general are completely decentralized. That means that the system doesn’t need the big banks to handle the transactions, or to do anything at all, really.
Needless to say, that is a big threat to the existing system.
As a result, banks slap the “high-risk” label on all cryptocurrency and don’t let small businesses get anything like a Bitcoin payment gateway.
Now, to be fair, they would probably have treated crypto this way even without the threat of decentralization.
After all, crypto has in just a few years become notorious for being the go-to exchange medium of drug dealers, illegal arms dealers, peddlers of stolen goods, and even money laundering operators.
That is all on its own enough to get the “high-risk” classification, which again makes it very difficult to obtain a Bitcoin payment gateway to process Bitcoin payments.
Even if the banks won’t give you the opportunity, you’re not out of options. Forget about the banks and PayPal and all those other big-tech and mainstream, mass-market solutions. They don’t want to play with crypto just yet.
Instead, go to a high risk payment solutions provider – like us right here at 5 Star Processing.
We provide high risk merchant accounts and high risk payment gateways to businesses that can’t get them from other vendors.
We’re able to do this because it’s our specialty. We have provided payment solutions to more than 5,261 businesses already… And most of them were labeled high risk.
If you want another good reason to talk to us, we guarantee the lowest processing fees in the market. It’s a bold guarantee, we know – but just ask our happy customers.
For questions about applying for a Bitcoin payment gateway, or to start your application right away, call us now at (888) 25 9692 or send an email to [email protected]. Our expert staff is ready to help you!