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Furthermore, the casino became the first to accept bit coin payments for hotel stays, restaurants bills and gift shop items.
This is how the company’s website stated its new business model:
“Bitcoin will be accepted by our partners with a 1% service fee per transaction (which also includes a transaction fee), casino coin draftkings. Customers will then keep their Bitcoin in their Bitcoin wallet for future use or use to purchase additional items with their Bitcoin, casino coin and ripple.”
Casino boss claims 1% fee for all transactions
Vitaly Popov, managing director of the business, was kind enough to answer some questions, casino tradingview coin. In order to understand why it cost him just $12 per transaction, we first have to know why it costs him so much to buy items with bitcoins.
The casino was accepting bitcoins since May 5. To explain how it works: customers place orders for goods and services online, and the casino pays for them all with bitcoin.
Popov said that it currently costs his company about $1,500 per month to accept bitcoins. He decided to lower this cost per year by $200 – and is now paying about $1,000 per month – by accepting BitCoin.
And how does this compare to a traditional payment processor like SWIFT or Western Union? In most cases, BitCoin offers advantages, casino coin tradingview. The first one is that BitCoin is an open source, transparent and decentralized network, casino coin blog. Another way of saying this is that, unlike a bank, which takes steps to regulate the currency it is responsible for, the Bitcoin network is completely decentralised and allows participants to transact with each other in real time.
Popov admits that it’s difficult to know how much fees this company charges, casino coin investment. The casino only logs payments made with bitcoins and refuses to record other types of payments, casino coin xrp. However, he believes BitCoins are a “much more suitable currency for our business.
He said: “Most payment providers – SWIFT and Western Union – have an average commission of 3 to 4% for every transaction. BitCoin is cheaper, about 1%. We receive our funds immediately, casino coin bitrue. The currency used is available all the time, regardless of what happens elsewhere.”
Why has it cost the company so much, casino coin latest news?
The bitcoin market isn’t always cheap, but it does offer some advantages, casino coin draftkings0. The first is the possibility of making direct payments, casino coin draftkings1. According to Popov, BitCoin is the only digital currency which allows for such payments from a customer’s computer. “It’s much less convenient to send payments through other payment options.”
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