Cryptocurrency Merchant Account

Cryptocurrency, whether you love it or hate it, it’s here to stay!

With Bitcoin at a whopping $50,000 at the time of writing this and with experts predicting it could rise as high as $100,000 in the next few years, more and more Crypto investors are being bought out from behind their sofa looking to find that next new coin that will make them millionaires.

The new technologies that are being developed within the world of Crypto are mind blowing, everyone seems to want a piece of the pie and every investor has their own investment that they are championing to become the next big thing.

The world is slowly moving its opinion around that Crypto is not just a fad and it will play a very important part in our futures. With Blockchains being used in more and more instances with innovative companies looking to improve infrastructures. Also, with exciting new developments like the Metaverse Crypto tokens will play a huge part in the development of these worlds.

Whilst this world seems a million miles away from the world we live in today, Cryptocurrency is sure to be a product that generations in front of us will hold as investments as common as property and stocks and shares.

Some of our favourites Cryptocurrencies and ones to watch are below, however we are by no means financial advisors or Cryptocurrency experts, this is purely an opinion so do your own research to come up with the ones that you like the most.

  • render Render Token
  • radix Radix
  • solana Solana
  • fantom Fantom
  • zilliqa Zilliqa
  • cardano Cardano
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To align with the Crypto boom we are seeing more and more projects in relation to Cryptocurrency, unfortunately tier one acquirers look at Crypto as a high risk sector, which makes it difficult for your Cryptocurrency business to get a merchant account to accept payments, however that does NOT mean that we at Modern World Business Solutions can’t help you get a Merchant account for your Cryptocurrency business.

We specialise and partner with a few acquirers that will underwrite your Crypto business for a merchant account which will enable you to take payments via Visa and Mastercard.

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But all good things are worth waiting for, so here is a list of 12 things you should expect whilst obtaining a payments facility for your crypto business:

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Good things come to those who wait, the process will be lengthy whilst you get underwritten for your project, please expect the process for a merchant account to take 6/8 weeks for your Crypto business.

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You will need to know your onions and have all of your documentation in place, acquirers will want to see that you have all of your compliance in order to approve you for a merchant account for Cryptocurrency business.

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Expect a rolling reserve to be placed on your merchant account for Cryptocurrency – this means the acquirer will hold a percentage of your funds for 180 days to protect them against chargebacks.

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Acquirers charge a high-risk fee of $500 to register you to Mastercard. This will be payable by the merchant.

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You will need your business to be registered in Europe with Directors/Shareholders that reside in the EU for Modern World Business Solutions to help you with a merchant account.

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You will need to ensure before you start the process that your website is compatible with the acquirer’s gateway. This is imperative information that you need to know before you start the process.

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Settlements from your merchant account for your Cryptocurrency business will likely be weekly with a seven-day delay. This can be negotiated after a period of successful trading.

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Modern World Business Solutions set up fee will only be chargeable once you have been accepted for a merchant account.

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If you are a start-up business looking for a payment solution for your Cryptocurrency business, things will be a little tougher, the acquirer will need more details such as:

  • Business Plan
  • Cash flow forecasts
  • All Licencing
  • Proof of start up funds
  • CV of all stakeholders
  • Business bank account – we can help you here
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If you are an established Crypto business that has been served termination by your payments processor or you are just looking for a better rate then we can help you! You will need the below documentation:

  • Proof of ID for all directors or 25% shareholders
  • Proof of trading address
  • Proof of residential address for directors
  • Transactional history for 6 months
  • Business bank account
  • Website domain and logins
  • All licencing required
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You will need a business bank account for your Cryptocurrency business to get accepted for a merchant account – it must be in the business name.

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Modern World has a successful history in helping Cryptocurrency businesses obtain a merchant account, if you would like us to help you then please fill out the form below.

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