Don't Put All Your Eggs In One Payment Processor

Published by Mike J Anthony — 12-21-2016 at 7:29 PM UTC

Yes, folks.

Paypal has been, and is still, doing it to us.

What are they doing? They are closing accounts, especially those of marketers like me, faster than you can say "bitcoin".

My Paypal account is not closed, so far, but that's because I've already started using other payment processors besides them, knowing the games they like to play.

If you send what they deem, "too much money" -- like $5k for example -- they will limit your account so that you have to jump through major hoops to get it opened up again in normal status.

A year ago, a legitimate revenue-sharing program that I currently participate in, My Paying Ads (MPA), had to go on a self-imposed suspension because Paypal suspended all of their funds for 6 months, which amounted to around $1 Million, which accounted for 95% of the business.  This is after countless reviews and assurances by Paypal that everything was fine.  

Then, out of the blue...WHAM! GOT YA!  Paypal suspended the money for no rhyme or reason.  So there was NO business for 6 months.  All this because of Paypal's shenanigans. (NOTE: It's a very bad thing when 95% of your business is tied to a single payment processor!)

Now that MPA has been back up and running, guess what they added as a processor?  BITCOIN, that's what!  They finally realized the hard way that it was an absolute necessity, even though I had already been touting it and even suggested that they add it months before that suspension even happened.  I just knew what Paypal is about, that's all!

Being in the United States, I'm using processors like Payza, Solid Trust Pay, and one of my now favorites, Coinbase (for Bitcoin)!  Payza and STP have already added support for making deposits guessed it: Bitcoin!

Here is a video I made about how to get a Coinbase account started:

I've sent out emails about Bitcoin before but I have recently noticed how a lot of people are still afraid of Bitcoin, and there's no need to be.

Bitcoin is just as easy to use as Paypal, and you simply MUST diversify your payment processing options, especially if you do, or hope to do, any kind of business online.

In light of Paypal doing what they continue to do, there are many people that are finally coming around to Bitcoin now.

One of the ways I get internet traffic to my sites and offers is by using Leased Ad Space, and the owner of that program, Richard Weberg, had the following to say about Bitcoin:

"As most of you know, we recently added Bitcoin support at the same time that we removed Paypal support.  We understand that the Paypal decision was a rough one for some people and we're still kicking around ideas to help soften that blow, but given the culling that our industry had with all the banning and suspensions of Paypal accounts, we didn't see any viable alternatives.  The good news is that Bitcoin transactions are flowing and have seen a sharp increase in the past few weeks as people get over their initial trepidation about the new payment format.  

Expect a LOT more information on this to come as people realize how amazingly freeing it is to transact business in bitcoin.  Bitcoin is beholden to no one.  And that means financial freedom for those who get on board!  I'll be honest in admitting that I was skeptical about Bitcoin for years before we made this decision, but after doing my homework... I am 100% sold and 100% all-in on Bitcoin!" (emphasis his, not mine)

So there you have it.  I couldn't have said it better myself!

If you are not using Bitcoin yet, don't put yourself in a position like the examples above. Its not as scary as you think!

You can open up a Bitcoin account for free right here: <<< using this link tells them that I sent ya!


Mike J Anthony

About Mike J Anthony


I am an online entrepreneur from the Atlantic City, NJ area who enjoys affiliate marketing, e-commerce, cooking, movies, reading, travel, playing games, investing, and making money online. I am currently working on a worldwide project designed to get everyone involved PAID. Its a <a href="" target="_blank">revolutionary new internet marketing solution</a>, completely proprietary, and is changing the way we internet. If you want to know more, <a href="" target="_blank"><u>go here</u></a>. Another method I like, which many people also love, is using Amazon to flip books. With the right software, you can make great money <a href="" target="_blank">buying and selling used books</a> on Amazon, and its something not a lot of people are doing either. <a href="" target="_blank"><u>Get more info on that here</u>.</a> Regards, Mike J Anthony