Expansion of the customer base

By accepting Bitcoin, merchants can appeal to customers who prefer or exclusively use cryptocurrencies. This expands the potential customer base and can lead to additional sales.

Lower transaction costs

Bitcoin transactions with Coinsnap are very favorable compared to traditional payment methods, especially credit cards, as Coinsnap only charges one percent (1%) of the invoice amount for payment processing. This can be particularly advantageous for international transactions, as there are no currency exchange fees.

Bitcoin – Lightning transactions are processed by Coinsnap almost in real time. This is advantageous for merchants and customers who prefer fast payment processing.

No chargebacks

Bitcoin transactions are irreversible. This protects merchants from chargebacks and fraud, which can occur more frequently with credit card payments.

Decentralized currency

Bitcoin – Lightning is a decentralized payment method that is not controlled by any government or institution. The Coinsnap payment method is available to merchants anywhere in the world, regardless of their business model. Whether in Andorra or Zambia – with Coinsnap, merchants sell their offers to anyone who wants to buy them with Bitcoin (without cumbersome preliminary checks by a payment provider or limits for the customer).

Internationalization

Bitcoin – Lightning allows merchants to easily sell internationally without having to worry about currency exchange or different payment methods in different countries.

Marketing benefits

Offering Bitcoin – Lightning payment can be perceived as innovative and modern and can therefore be used as a marketing tool to attract technology-savvy customers.

Protection against inflation

Bitcoin is often seen as a hedge against inflation. Traders who hold Bitcoin could also benefit from a long-term increase in the value of the cryptocurrency.

Data protection and security

Bitcoin – Lightning payments do not require customers’ personal information, which increases privacy and reduces the risk of identity theft. In particular, customers who are afraid of this feel more secure and more inclined to make a purchase.

Diversification of payment methods

By integrating Bitcoin – Lightning as a payment method, merchants diversify their payment options, which can increase resilience to outages or issues with traditional payment providers.

No hurdles for end users

In contrast to providers such as bitpay, coinbase, crypto.com etc., Coinsnap is “barrier-free”: Payers can pay with all Bitcoin and Lightning wallets, including those from bitpay, coinbase and crypto.com. Only the merchants need a Lightning Wallet for the credit.