What is bitcoin?
Bitcoin is perhaps the most discussed about financial news in the past 10 years. It is a peer-to-peer digital currency that was founded in 2009 by a person or individual named Satoshi Nakamoto. Similar to gold, Bitcoin is mined by solving a complex mathematical algorithm on a PC and found in blocks. Bitcoins are stored, sent and received using E-wallets.
Some of the merchant benefits of Bitcoin include easy person-to-person transfers. no use of credit / debit card or PIN; convenient storage on your PC or smartphone; and traceable public transactions that help prevent fraud. While volatility is an issue, Bitcoin’s value skyrocketed to more than $ 2,730 from the Q3 of 2017.
How do I get a Bitcoin merchant account?
Instabill provides the following solutions for merchants who are looking for Bitcoin payment processors:
Overseas Bitcoin Merchant Accounts (with payment processing history):
- A minimum of six months of payment processing statements with company names showing chargebacks, refunds, returns, and total sales.
- Six Month Commercial Bank Statement
- Approvals: 10 business days to two weeksac
The Bitcoin Merchant Account Schedule:
We often see our competitors offer approvals in just 1-2 business days, even for overseas merchant accounts. For 99 percent of all merchant account apps, this is simply not the true.
Approvals for any of the merchant account solutions offered by Instabill can take anywhere from five business days to two weeks. We made it faster, but approvals depend on several factors:
- Industry Type
- Merchant’s Payment Processing History
- The acquiring bank that we will match your business
We would like to be able to offer an approval within 24-48 hours, but it will likely take longer for the acquiring bank to give the green light. that our experienced dealer account managers will do their best to get your business approved as soon as possible.
Our employees will guide you step by step through the application process and will remain your advisor for the duration of your partnership with Instabill. Account Manager by selecting the button below.