Accept Bitcoin Cash Payments

How to Accept Bitcoin Cash Payments cover: Accept BCH Payments
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Cryptocurrency payment methods are becoming widely diverse, and users can send and receive virtual money using a broad selection of blockchain-based coins and tokens. Many of these currencies, such as Bitcoin and Ethereum, have been at the forefront of the crypto market, while other less-common altcoins have provided different benefits.

Bitcoin Cash was created in connection with the most popular cryptocurrency, Bitcoin. However, despite the name association, it runs its own blockchain and payment processing system, making it a valid option to send and receive crypto coins.

Businesses and individuals are showing more interest in BCH payment than popular crypto methods for various reasons.

What is Bitcoin Cash?

Bitcoin Cash was created in 2017 after the Bitcoin blockchain developers failed to reach an agreement on the future network roadmap.

Prior to the split, Bitcoin was facing few scalability and transactional issues, where the block size was limited to 1MB, leading to scalability and transactional issues as payments were significantly delayed. BTC blockchain has also faced increased gas fees, which have increased as the demand for cryptocurrency has risen over the years.

In 2017, a Bitcoin fork was introduced, creating a new decentralised ecosystem and coin, marking the establishment of Bitcoin Cash as a new cryptocurrency and a distinct decentralised payment method.

Bitcoin Cash is a popular crypto option on various websites, online stores, brokerage platforms and other payment processing services that facilitate blockchain-based transactions.

Thanks to its increased block size, BCH payments are processed way faster than the regular Bitcoin. Bitcoin Cash developers state their goal is to improve decentralised payments and make BCH the best crypto payment system of all time.

However, the coin could not manage to maintain the same hype and popularity as BTC. This fact brought some advantages to BCH, decreasing the speculations on the coin’s price and lowering the gas fees to less than $0.01 per transaction in most cases.

Use Cases of Bitcoin Cash

Bitcoin Cash solves the scalability problem of the regular Bitcoin network, which increases the usability of the BTC blockchain for multiple dApps and DeFi assets. Here are the top utilities of BCH.

• Transferring coins and sending and receiving crypto payments.
• Investing in crypto projects through staking and DAO tokens.
• Minting utility tokens and executing smart contracts.

How to Accept Bitcoin Cash with B2BinPay

Sending and receiving Bitcoin Cash is common on multiple brokerage and trading platforms, and users are increasingly switching to BCH payment providers due to low price volatility and relatively higher stability. Here’s how you can get started with Bitcoin Cash payments.

Account Setup

Create your B2BinPay wallet account based on your specific business needs, whether you want a faster way to connect a BCH payment gateway and receive cryptocurrencies or to offer brokerage services using a multi-currency exchange and brokerage system.

The merchant wallet will allow you to receive transactions with Bitcoin Cash and 100 other currencies. On the other hand, you can power your crypto exchange platform with the enterprise wallet solution to support trading with 350+ virtual coins and tokens.

You can store funds in tokens. For that, you can create a token wallet based on a cryptocurrency as a denomination and swap between coins and tokens of your choice.

You can also securely keep your funds in stablecoins, which is an excellent way to start your business and accept virtual payments in a less volatile approach to storing crypto assets and contributing to the decentralised economy.

API Integration

API tools set the exchange mechanism between servers and websites. These keys are crucial for crypto payment providers and websites that facilitate transactions using virtual currencies.

We use the JSON API architecture to facilitate data exchange between servers, as well as various encryption algorithms and models to secure data transfer.

Connect your brokerage or exchange platform with the right Bitcoin Cash payment API keys to allow your customer to pay with BCH directly on your website without going through any third-party processor.

After signing up, you will receive an email with your unique API credentials that identify your account when requesting data calls.

B2BinPay provides API keys that you can configure with your backend environment to process online transactions from Bitcoin Cash wallets.

Configuring Bitcoin Cash Payments

The B2BinPay wallet solution gives you various tools to control your financials. You can schedule and automate payouts using a selected currency. This feature is highly usable for businesses with global partners and clients.

Set up the way you want your payments to be received and stored, whether in crypto or fiat money. Moreover, you can create multiple wallets for your chosen currencies and try the swap feature to convert currencies in your wallet.

Create your B2BinPay wallet and start receiving BCH payments to attract more clients, reach new markets and boost your business.

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