Depending on how the merchant sets up the payment processor, accepting Bitcoin can be little to no risk for the merchant. It can even be less risky than credit card transactions. You can also save money on credit card fees. Here’s how.
Less than 1% Transaction Fees – If you want your payment processor to instantly sell your Bitcoins for cash and transfer the cash to your bank account, you will pay less 1% or less for these services. If you choose to hold the Bitcoins and sell them at a later date, you will pay little or no transaction fees. This is much better than credit cards, which charge merchants 2 – 5% for transaction fees.
New Payment Processors Sell Bitcoin Instantly – The second a payment enters the blockchain, the payment processor will sell the Bitcoin for US dollars. Once the Bitcoin transaction is confirmed, you can withdraw the US dollars to your bank account. At no point in time are you holding Bitcoins. This protects your business 100% from Bitcoin volatility. You can do this with Coinbase.
Bitcoin Transactions are Irreversible – Credit card charges can be reversed by the buyer in case of fraud. Sometimes these charges are disputed for months and the merchant usually loses the money. Bitcoins are like cash. Once the Bitcoins are handed over, the business assumes full ownership of them, and there is no way for the customer to charge the money back.