GoCoin offers Merchant Accounts for Bitcoin and Litecoin, and are a Payment Gateway and Processor for Bitcoin, Litecoin, and emerging future digital currencies.

1. Bitcoin vs PayPal: A Viable Alternative?
When Bitcoin was originally released in 2009, no one knew just how quickly it would gain acceptance.
While it didn't happen overnight, the digital currency has slowly but surely gained traction and is now
accepted by tens of thousands of merchants, including major retailers like Overstock.com and
TigerDirect.com. But does Bitcoin serve as a viable alternative to PayPal?
Transaction Volume
Let's first look at the transaction volumes between Bitcoin and PayPal. According to the Bitcoin
tracking data website Coinometrics.com, the daily volume of Bitcoin transactions is roughly $80
million, whereas the daily volume of PayPal transactions is roughly $397 million.
PayPal obviously performs a higher volume of transactions, but considering its youth, the digital
currency is running closely behind. If this trend continues (which all indicators suggest it is true),
Bitcoin will gradually creep its way past the infamous PayPal.
Security Vulnerabilities
Most users assume they are safe using PayPal thanks to all of their flashy seals and trust logos.
However, a simple Google search will reveal a countless number of horror stories by PayPal users
who've had their financial information stolen, accounts wiped clean or their identities stolen. Thieves
oftentimes send phishing emails which look like official PayPal emails in hopes of acquiring users'
login information.
Bitcoin doesn't possess these same security vulnerabilities thanks to its decentralized design. Without a
'middle man' in place, there's no sensitive financial or personal data associated with Bitcoin
transactions.
Merchant Fees
One of the biggest drawbacks to accepting PayPal payments are the fees associated. You can read more
about their current fee structure here, but it's usually around 2.9% + $.30 per transaction. That may not
seem like much, but you'll quickly realize just how money is being thrown away when you accept

2. PayPal.
Many people use PayPal to send money to people in other countries. If you do the math, if you send
someone $2,000 through the PayPal site, it costs you over $60.00 to send that money.
When using Bitcoin, merchants typically need a wallet service to accept transactions, but the fees
associated with services such as this can be as low as 1%.
“It's lower cost, lower risk and a more accessible form of payment from anything else we have today,
especially for shopping online,” said Tony Gallippi, founder and CEO of BitPay.
Chargebacks
We discussed the current state of chargebacks in a previous blog post, but it's worth mentioning again
that accepting Bitcoin payments eliminate the possibility of chargebacks altogether. Without a central
financial institute connected to the digital currency, thieves or fraudulent customers cannot attempt
chargebacks on purchased goods. This is obviously a huge advantage for merchants, as it reduces the
chance of fraud.