"We accept Bitcoin" sounds like a simple checkbox, but what actually happens between a customer sending crypto and a merchant seeing revenue involves a few decisions worth making deliberately.
Do you actually hold the crypto?
Most merchants never touch crypto directly — a payment processor converts it to fiat at, or near, the moment of payment, so the business receives regular currency in its settlement account. Holding the crypto itself instead exposes the business to price volatility most merchants have no interest in taking on.
Confirmations mean waiting, by design
Unlike a card authorization that resolves in seconds, a crypto payment isn't considered final until it has enough network confirmations — which can take anywhere from seconds to much longer depending on the network and fee paid. Checkout flows need to account for that wait without losing the customer's attention.
Irreversibility changes how disputes work
There's no chargeback mechanism on most crypto rails — a completed transaction is final. That removes one entire category of dispute risk merchants deal with on cards, but it also means refunds are entirely manual and voluntary rather than something a network can enforce.
Key takeaways
- Most merchants convert crypto to fiat instantly rather than holding it.
- Confirmation times mean crypto checkout isn't instant the way a card swipe is.
- There's no chargeback mechanism — completed crypto payments are final.
- Refunds on crypto orders are entirely manual, not network-enforced.