Merchants

Every BitSpider has a merchant module that offers every registered user to receive Bitcoin payments. By accepting Bitcoin payments over the exchange, your customers can pay for a product with Bitcoin while you will receive the equivalent amount of Fiat currency in your exchange account. Go to the exchange, log in and download a code snippet. By implementing the JavaScript snippet in your web shop, you can accept Bitcoin payments while receiving Fiat currency in return that will be booked on your exchange account.

Terms of Use for Merchants

Merchants have many options to choose from, e.g. three different risk options available to accept Bitcoin payments: 

 

I. No Risk Option:

Bitcoin payments will be directed to an intermediary merchant system user of the exchange operator. You will receive the payment equivalent in fiat currency on your account of the exchange once the Bitcoin payment received the necessary amount of confirmations from the network. After the Bitcoin payment was received and confirmed on the exchange, it will be liquidated into fiat currency. While the exchange provider takes the risk of exchange rate fluctuation, you will receive the appropriate exchange rate at the point of time the user has been conducting the Bitcoin payment. Receiving payments with this risk option will result in a payment fee of approx. 2.5%.

 

II. Sell Risk Option:

Bitcoin payments will be directly booked on your exchange account. After the confirmations from the network are available, the amount of Bitcoin will be instantly exchanged to fiat currency (liquidation via market sell). When accepting payments with this risk option, you take the risk of exchange rate fluctuation. You will also pay a fee up to 1%.

 

III. Risk Option:

Bitcoin payments will be directly booked on your exchange account. After the confirmations from the network are available, the received Bitcoin will be credited to your exchange account and you can decide when to liquidate the funds by simply selling them. Also a minor fee will be applied for payments conducted with this type or risk option.

 

Payment fees can be freely distributed between you and the customer that pays with Bitcoin by adjusting the “Percentage of fee paid by merchant”. This allows to accept Bitcoin payments without any fees by moving the slider to the very left side so the customer will pay the fees that are depending on the selected Risk Option. When implementing the downloadable JavaScript snippet into the web shop, the merchant also can set four different Callback URLs that can be used in the payment processing:

Callback URL payment received: forwards the customer to the specified URL after the Bitcoin payment has been received.

Callback URL payment confirmed: redirects the customer to the specified URL after the Bitcoin transaction of the payment has received the necessary confirmations (6) by the network. 

Callback URL payment canceled: if the user cancels the payment process, he will be redirected to this page.

E-mail address payment notifications. the merchant can enter an e-mail address that will receive notifications for certain events: 

E-Mail notification payment received.

E-Mail notification payment confirmed.

E-mail notification payment canceled.

 

 

About BitSpider

BitSpider is a digital asset exchange that provides a trusted gateway where members can trade digital currencies against minor and especially against exotic currencies. BitSpider is operated by BitSpider UG, Germany

Contact

BitSpider UG

Simrockalle 2 

53173 Bonn

Direktor Jan-Michael Schenk

©2017 BitSpider. All Rights Reserved.

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