Big players in their respective industries, notably Microsoft, XBOX, and Rakuten, have accepted Bitcoin payments for the last few years. If you wonder why they chose to do so, here are three main reasons why merchants should begin accepting bitcoin: Benefits of Bitcoin Payments Universal payments Bitcoin is a common currency. It can be used by anyone and everyone. With payment by bitcoin, merchants can tap into new markets and accept more convenient international payments. Protected from chargebacks Payment with bitcoin eliminates the chargeback. Bitcoin transactions are irreversible and immutable. If a customer has made a payment, the consumer can not cancel the payment and get their money back. Merchants are covered from fraud on the chargeback. Higher cost savings Businesses always buy cheaper alternatives to accept international payments because of heavy cross-border transaction fees. Softieons Technologies work on website development and mobile app development and help the customers according to their business needs.