Merchants who venture into the Bitcoin world are always looking for more ways to support additional customers. However, they also want to spend as little money as possible to do so. 34 Bytes, one of the cryptocurrency point-of-sale terminal manufacturers, has announced they are adding support for LocalBitcoins.
Adding LocalBitcoins Support To POS Terminals?
Accepting Bitcoin payments is one thing, but getting customers to pay with cryptocurrency is a very different thing. Although a lot of merchants have seen their fair share of success since venturing into the Bitcoin world, 34 Bytes feels the time is right to take things to the next level. Innovation is not hard to come by in the Bitcoin world; that’s for sure.
Now that their point-of-sale terminals have integrated with LocalBitcoins, an interesting scenario has been created. In doing so, the company has made their terminals made versatile, as merchants can now use their terminals to store a portion of every Bitcoin transaction in cryptocurrency if they were planning to do so.
Moreover, all of the incoming Bitcoin transactions can be sent to a merchant’s LocalBitcoins account for later trading. Albeit plenty of payment processors convert Bitcoin to fiat on the fly, things are a bit different in the payment terminal world. More importantly, 34 Bytes has zero intention of ever touching user funds, and the integration of LocalBitcoins only solidifies that claim.
Many people are familiar with the LocalBitcoins platform, as it quickly became a household name among users who prefer peer-to-peer trading. The company offers quite a few different services, including the electronic exchange of value between many different parties. For merchants, this can be an additional reason to venture into the Bitcoin world, as they can approach like-minded cryptocurrency enthusiasts through the LocalBitcoins platform.
But there is even more for merchants to enjoy. LocalBitcoins offers escrow services to ensure all bitcoin sales are protected, and no one will lose funds. Integrating such valuable third-party services into the 34 Bytes point-of-sale terminals is an interesting approach. For now, the company plans to add more integrations to the product moving forward, albeit no specific announcements were revealed for now.
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