Bitcoin Payment Provider vs. BTCPay Server

This post is also available in: German

Bitcoin Payment Provider vs. BTCPay Server

For the processing of Bitcoin payments, online merchants can use the services of a Bitcoin payment provider. The services provided by a Bitcoin payment provider were presented in the article What does a Bitcoin payment provider do?

The philosophy of BTCPay Server is identical to the Bitcoin philosophy.

Bitcoin is a peer-to-peer payment system without intermediaries and instances between the payer and the payee. If one were to use the services of a payment provider for Bitcoin payment processing, one would again have involved an intermediate instance, which should actually be dispensed with.

This omission of an intermediate instance is possible with the help of the BTCPay server. With the open source based BTCPay server, the merchant is his own Bitcoin payment provider.

Those who have already integrated another payment method such as credit card or PayPal into their online shop know the tedious registration and login process. You have to describe your business model and you have to present a lot of documents about yourself and the company.

This is not necessary with BTCPay Server. You run your own software in the form of the BTCpay server on a hosted server and can receive Bitcoin and Lightning payments that are credited directly to your own Bitcoin wallet.

You do not have to justify your business model or even reveal your personal data to anyone when you accept payments via the BTCpay server Bitcoin.

While credit card and PayPal charge a percentage of the turnover and a transaction fee for payment processing, Bitcoin payment processing with the BTCPay server is free.

Andreas Antonopoulos explains why you should use your own Bitcoin payment processor in the form of a BTCPay server in his video contribution “Bitcoin Q&A: Should You Use a Crypto Payment Processor?

With the BTCPay Server a variety of different business models can be mapped. We present these different business models as practical examples at Coincharge.

It should not go unmentioned here that the advantage of a Bitcoin payment provider can be that you can have the Bitcoin automatically changed into USD or Euro and paid out to your bank account. In this way, the bookkeeping and accounting department can book the individual payments of the customers as usual.

This is also possible with the help of BTCPay Server. Upon request, the Bitcoin collected will be automatically forwarded to a Bitcoin exchange, sold there and credited to your account in euros.

Whoever wants to accept Bitcoin and Lightning payments in their online shop will find a perfect solution with BTCPay Server.

From the standard solutions presented here to individual projects can be implemented on the basis of BTCPay Server. A large community of developers is available to realize these individual projects or to be available with help and advice.

Coincharge relies on the developers and technology of BTCpay Server and will be happy to help you if you want to accept Bitcoin payments in your online shop.

This post is also available in: German

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