TakeTheCoin.com will help companies stem some of their declining sales by opening their cash registers and e-commerce sites to over 40 million cryptocurrency wallet holders.
“Our goal is to help consumers spend their cryptocurrency to make purchases they wouldn’t otherwise make while allowing companies to convert the sales to dollars, Canadian dollars, Euros or Pounds at the point of sale with zero volatility,” said consumer advocate Robert Livingstone, CEO of TakeTheCoin.com, a payments firm that allows companies to accept Bitcoin and other cryptocurrencies from their customers as cash payments.
“As our country’s consumer base is saving their cash and credit, we are offering a solution that it is a win-win for consumers and companies. Hundreds of billions of dollars are held in cryptocurrencies and our capabilities allow businesses to accept them just like credit cards or cash,” said Livingstone.
Livingstone’s solution is currently available to companies in the United States, Canada, the EU, and UK.
1. How It Works
Livingstone is offering the solution for any federally legal company in the United States, Canada, EU, and UK. The companies are able to accept Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple at the point of sale with instant conversion to the local currency. There is zero volatility. The companies never hold or invest in any cryptocurrency. The funds are then deposited into the company’s bank account.
Available payment methods include a mobile application for in-person sales allowing for contactless payments, shopping cart integration, virtual terminal and invoicing feature with a payment button.
2. Account Setup and Costs
Account activation is quick and intuitive. Their account is activated and they are ready to start accepting payments immediately. Approval can take anywhere from 30 minutes to 12 hours depending on the time of day the request is received.
Livingstone is waiving all set up and monthly service charges for all clients during this time. The fees to accept payments are 1.99% + $0.05 per transaction.
“We are seeing a rapidly accelerating number of clients asking us about alternative payment methods like cryptocurrency and Bitcoin processing with instant conversion to fiat. We’ll be happy to advise clients, for free, to see if this might be the right solution for them,” said Livingstone.
3. High-Risk Industries and Chargebacks
Unlike credit card and other payment processors, virtually all federally legal companies are approved for service. TakeTheCoin.com has a list of approved industries on their website. There are almost never any surcharges for any traditionally high-risk industries such as online CBD stores, Nutritional Supplements, etc. Transactions of almost any size are approved and more privacy is granted to the customer than other payment methods.
Livingstone confirms that the platform disallows any chargebacks. All sales are final and consumer scams are essentially nullified.
“Our goal is to allow any federally legal company to accept payments. Since there are no chargebacks, we are able to charge up 70% less than credit card processors,” he said.