Why use Bitcoin Cash and Why should a merchant accept BCH payments?(BCH Expansion series 2)

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BCH Expansion series 1

Why use Bitcoin Cash instead of USD, EUR or GBP? Why would anyone use Bitcoin Cash?.............

Good question! Fortunately, they have some straightforward answers.

The main reasons people use Bitcoin Cash are:

Control

In general, Bitcoin Cash give you more control. You effectively cut the middleman between you and your money. No bank can decide how long and how long a transaction will take. You can also control where funds are stored and how they are accessed. Of course, control comes with corresponding responsibilities.

Speed

In addition to saving international transfer fees, you can also enjoy higher transaction speeds. Your bank takes a few days to do anything, and Bitcoin Cash can be done in Seconds.

Convenience

With Bitcoin Cash , online payments are easier and faster. If you want to donate or pay for something that won't ship, you don't need to disclose any personal details. Simply send bitcoin cash to their wallets address you've done.

Privacy

One of the main advantages of using BitcoinCash is that it provides privacy and relative anonymity. You do not need to provide any personal details to access Bitcoin Cash wallet . 

Why should a merchant accept BCH payments?

Many merchants and users have adopted Bitcoin Cash as a payment method. But there are also many companies, especially online ones, who do not yet know what the benefits of accepting BCH payments are and what they can gain from them. This guide will help these companies better accept BCH payments.


Why accept BCH payment? Different people have different answers to this question. Some people because the bitcoin cash can help the poor, and some people because it makes the world more free. For merchants, the reason for accepting BCH payment is that Bitcoin Cash has advantages over cash and credit cards. It can also provide users with a better service experience and attract more users.

BCH has no refunds and fraud

Unlike credit card transactions, Bitcoin Cash transactions are irreversible. Once the funds are sent, payment is a definite thing. The transaction is irreversible unless the merchant agrees to a refund and recoups the coins. In real life, many merchants accept credit card payments, and it often happens that the goods have been delivered, but the customer lied that they did not receive the product. Merchants can't get their dues from credit card companies, and they need to pay for items and shipping costs. This problem does not arise with Bitcoin Cash.

Almost zero transaction fees

Bitcoin Cash is decentralized and there are no intermediaries in the network operation, the handling fee is also very low. 

Better user experience

Unlike traditional credit cards, it is easier to pay online with Bitcoin Cash. You don't have to take out your credit card and enter all the information correctly, just enter your name and shopping information and pay directly, saving a lot of steps and time. More importantly, using Bitcoin Cash also provides users with a more secure consumption experience because they do not need to worry about theft of their credit cards.

Additional appreciation

Holding fiat currency usually means losing 1% to 3% of assets every year due to inflation. Since the launch of Bitcoin Cash, the value of Bitcoin Cash has been continuously increasing. If the merchant accepts BCH payment and holds it, they will get extra money.

More customers and internationalization


Accepting BCH payments can also expand the customer base. More and more consumers are using BCH to purchase goods and services. Not only that, anyone in the world with a cell phone can use BCH. This means that if they can't get credit card or bank services, or their network is not good, these customers can still use BCH to pay. And BCH can be used worldwide, regardless of geographical restrictions.

As a merchant, in order to be able to accept Bitcoin Cash payments, you can download a Bitcoin wallet to receive BCH. If it is an online store, it can be combined with payment processors BitPay, Coinbase Commerce , Coinpayments, and Coinify.

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Comments

hopefully more and more are using bitcoincash

$ 0.00
2 years ago