Why So Many Kratom Sellers Use Bitcoin for Payments

Why So Many Kratom Sellers Use Bitcoin for Payments

If you've been shopping for kratom online, you've likely noticed that many vendors of this natural plant product accept Bitcoin payments and sometimes give discounts to customers who pay with the cryptocurrency instead of another payment methods. Some reputable kratom merchants only accept Bitcoin as a method of payment. There are many reasons why cryptocurrencies like Bitcoin are popular among kratom and related product vendors. Here are the main ones:

Difficulty Accepting Other Forms of Payment

Even though kratom is legal in most countries, it remains a controversial product and is usually not approved for human consumption by health authorities. Banks and online payment processors typically refuse to do business with vendors who sell natural or chemical substances that are legal to possess, but have attracted controversy due to their potential for misuse. Many Kratom vendors who wish to accept credit cards have to do so through offshore or “high risk” merchant account providers, which charge higher fees and are often slow to issue payouts to merchants.

Better Privacy and Anonymity

Bitcoin and related cryptocurrencies are superior to most other online wallet systems as far as privacy goes. Any Internet user can download a Bitcoin client and get a wallet address, all without having to fill out any forms or submit private information to any company. While it's possible to trace transactions to specific wallet addresses, finding out the identity of a wallet owner can't be done without having other elements that tie them to it. Many buyers and sellers of kratom prefer to keep their activities private, which Bitcoin allows.

Bitcoin Doesn't Allow Transaction Reversals or Wallet Seizures

The Bitcoin network doesn't let a user reverse a transaction, no matter the reason. This protects merchants from fraudulent chargebacks, which are unfortunately common with kratom and associated products. Since the network is fully decentralized, it's not possible for anyone, not even a government agency, to take a user's Bitcoin wallet without having the actual wallet file and passphrase. Given that banks and governments have sometimes frozen funds belonging to sellers of legal products, often for months or years, using a payment system that doesn't allow this is a big advantage. For more info click on kratom bitcoin.