As per the agreement, the two companies will assist merchants in accepting transactions carried out in cryptocurrencies.
As cryptocurrencies grow in popularity, experts agree that Bitcoin will be one of the most popular payment systems of the future. In addition to processing Bitcoin payments, GoCoin likewise facilitates payments carried out in the alternative cryptocurrencies Litecoin and Dogecoin.
In contrast to traditional payment systems, Bitcoin accounts do not run the risk of forced closure; payments and payouts bypass external screening; chargebacks are impossible; and fraudulent use of third-party funds is minimal on account of Bitcoins advanced security measures. Bitcoin is advantageous in the ecommerce marketplace on the basis of its low commission fees, rapid processing times, and the lack of location restrictions for either party involved in the payment process. Merchants furthermore benefit from the possibility of microtransactions carried out in Bitcoin currency.
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