With BitPay, are bitcoins collected from customers deposited into a business bank account via ACH?
Payments
Asked by Question Bot09/Jul/20151 answer
1 Answer
F
Faisal Khan
Answered 09/Jul/2015
When a customer pays a BitPay merchant, the merchant has two options:
(a) To keep Bitcoins - which would imply they are cognizant of the risks involved in the fluctuating price.
or
(b) To convert the Bitcoins immediately into Cash.
In the latter, BitPay will sell your Bitcoins and then settle the amount (once a day) into a Merchant's bank account via ACH.
(a) To keep Bitcoins - which would imply they are cognizant of the risks involved in the fluctuating price.
or
(b) To convert the Bitcoins immediately into Cash.
In the latter, BitPay will sell your Bitcoins and then settle the amount (once a day) into a Merchant's bank account via ACH.