Skip to main content

Accepting Cryptocurrency Payments: All Your Questions Answered


After providing an intro into the world of cryptocurrency and then defining some key crypto terms, we’re now ready to answer your most pressing questions about accepting this burgeoning method of payment. 

As we mentioned in previous posts, accepting cryptocurrency as a form of payment at your property management company should be steadily moving up to the top of your priorities. In fact, the hospitality industry is poised to become one of the largest crypto processors in the world, with premier clients increasingly turning to crypto to pay for luxury accommodations easily and safely. Crypto Coins

At Ascent, our goal is to secure and simplify your payment processing practices. Assisting your vacation rental management company in accepting cryptocurrency is just one of the ways that we strive to help your company grow, while also providing priceless peace of mind.

We are excited to announce the new Ascent Cryptocurrency Program! We have partnered with NetCents to bring crypto acceptance to the short-term rental market. Once you have decided that the time is right for you to accept cryptocurrency, Ascent can help you begin the process with a few short and easy steps.

While you have learned more about cryptocurrency and you may be interested in getting started accepting it, we also realize that you may have more questions. We’ve tackled some of the most frequently asked questions about our cryptocurrency program below.

What sort of gateway is used to process my crypto transactions?

An established platform called NetCents is our preferred method of processing cryptocurrency transactions. The NetCents platform is accessible via your software solution integrating to Ascent’s payment gateway Slim CD or as a stand-alone solution.

Accepting cryptocurrencies sounds expensive. Is this more expensive than standard credit card fees?

No— in fact, NetCents fees are on average much lower for domestic credit card transactions and a whopping 1.24% lower than credit card fees on international transactions. 

As a vacation rental manager, I need to be completely transparent with my homeowners and show 100% of each rental payment on their monthly statements. Will the price volatility of cryptocurrency be in violation of my accounting practices? 

Simple answer— no. The NetCents crypto gateway will absorb the price fluctuation liability on top cryptocurrencies including Bitcoin, Bitcoin Cash ABC, Ethereum, Litecoin, and XRP.  NetCents explains, "the cryptocurrency received will be converted to fiat using the market rate at the time of the transaction, thereby eliminating crypto market volatility and liquidity risk.” 

With all the price fluctuations inherent in cryptocurrency, how are refunds handled?

Since there is literally no way for a client to chargeback a transaction (and no restrictive card brand rules to follow), you can set your own refund policy on cryptocurrency bookings (including instituting a “no refunds” policy or a policy that states refunds will be paid in fiat!) as long as you properly disclose your policy prior to booking.   

How are chargebacks handled with cryptocurrency?

Because cryptocurrencies are not governed by the Visa/MC/Disco/Amex regulations that allow guests to charge back credit card transactions at will, guest disputes can be resolved the way YOU want them resolved, not how a card brand wants you to resolve them. You remain in control and can issue any refunds you deem necessary, but you will never receive a chargeback on a crypto transaction.

Okay, this all sounds great. But I don’t want “virtual” money in my bank account— I want to see the actual dollar amount deposited. Is that possible?

Yes! NetCents can deposit your funds in one of two ways. They can either deposit the crypto payment into your cryptocurrency wallet or they can convert the cryptocurrency into fiat funds and deposit the dollars directly into your operating or trust account. 

So, this means that I can receive my NetCents payout in either fiat or crypto— it’s my choice?                                     

That’s correct. The default setting on a new merchant account is "instant settlement,” which is paid in fiat to the bank account you provide. Alternately, you can choose to disable the instant settlement option and receive the payment as crypto. If you elect to do this, it’s as simple as linking the crypto wallet you want the cryptocurrency deposited into.

How long would it take for the funds to show up in my account?

Funds will accumulate in your NetCents merchant account until a $250 minimum is reached. When this minimum is met, NetCents generates payouts at midnight ET. It can take up to 5 days for fiat funds to post to your bank account. For crypto payouts, once the $250 minimum is met, you can manually transfer the funds to your wallet. 

This new technology can’t possibly be integrated with my reservation software yet— can it?                                                                              

If your reservation software is one of Ascent’s integrated partners, this is certainly within reach for you. The NetCents technology is already integrated with our Slim CD payment gateway and some easy edits to your software will make it available to you. At least one of our reservation software partners is already working on this integration to offer to their clients and many others are due to follow suit very soon. Please feel free to contact your software provider and let them know you would like them to pursue an integration with Ascent’s Slim CD gateway, so you can accept cryptocurrency payments directly through your software.

I’ve heard that the value of cryptocurrency can be highly volatile. Should I be worried about that?

NetCents effectively eliminates the crypto volatility anxiety. The coins that are currently accepted in the NetCents gateway are Bitcoin, Bitcoin Cash ABC, Ethereum, Litecoin, and XRP. NetCents says “We guarantee that when you sell an item for $50, you receive $50 in fiat, less a small transaction fee.”  There are options to accept other crypto currencies without a volatility guarantee. In addition, NetCents even offers merchant the option to pass that transaction fee on to the guest if you so choose.

Are you sure there aren’t any hidden fees I need to know about?

We’re sure! The simple, standard NetCents fee is 1.99% and five cents per transaction. There are no monthly membership fees or dues, no additional fee for fiat conversion, and NetCents covers all ACH and wire transfer fees as well.

Align with Ascent

At Ascent Payment Solutions, we are the destination for all your payment processing needs— crypto and otherwise. By providing easy-to-understand answers to some of these frequently asked cryptocurrency questions, we hope that we’ve helped you have a bit more peace of mind as you move forward and begin accepting crypto in your vacation rental business.  

If you have any more questions, or simply want to chat with one of our payment processing experts, drop us a line at


Get in Touch

Sign up for news and updates