5 Tips For Accepting Cryptocurrency Payments On Your Site In 2021

Bitcoin and other cryptocurrencies were designed to make it easier for individuals to make payments to each other without the involvement of a third party. This makes it easy to simply speak with your buyer and organize your own payment. Bitcoin transaction fees are generally very low compared to traditional payment fees, but you want to make sure you’re getting the right deal. With this, you would be displaying your wallet address that your customers can pay to.

Above are five simple ways to start accepting bitcoin and cryptocurrency payments on your WordPress eCommerce store. Most payment processors have WordPress plugins that you can easily integrate into your site for quick setup. By increasing your range of payment methods, you can generate more sales. With the continued rise of cryptocurrency, now is the time to consider these payment gateways. The NOWPayments API is a set of ready-made methods by which merchants can start accepting crypto payments. The user pays for purchases with one of the supported cryptocurrencies, but for convenience, the price of the goods is displayed in fiat.

We don’t guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services. With the right processor, you’ll be ready to take your small business into the crypto future. Yes, the app is 100% free for everyone, we only charge a $0.05 fee per payment you receive.

“The Coinbase Commerce API made integrating crypto payments into Every.org and accepting crypto donations for over a million nonprofits a breeze.” Many people still see cryptocurrencies as a cutting-edge https://xcritical.com/ trend that won’t stick around, but others are betting big on the new digital currency. Paypal is among the largest online payment companies worldwide, with more than 29 million merchants using it.

How Do Cryptocurrency Payment Gateways Work?

When checking out with a Paypal merchant, customers with Paypal wallets can convert Bitcoin, Bitcoin Cash, Litecoin, and Ether into fiat currencies such as euros and dollars. Handling an in-person crypto payment has many options, like adding an NFC terminal or a crypto-compatible QR code scanner for in-store checkout. Also, if you use a mobile POS, you may integrate crypto payments with your current system if it supports it. Since there is no central bank controlling the value of Bitcoin and other cryptocurrencies, its value fluctuates wildly. This makes it an unreliable way to receive payment for goods and services because you don’t know how much money will be coming in at any given time.

Using Bitcoin enables you to process payments with lower fees and receive money instantly. This currency is also well suited for sites that need to receive international payments, since it’smuchfaster than bank transfers from one country to another. If you use the methods provided in this crypto payment api guide, you will be able to accept crypto payments easily and you will not be exposing yourself to any risks either. It is necessary for your business to have a wallet that can store all your crypto payments. You can store, sell, and buy different cryptocurrencies from various exchanges.

What Is The Best Way To Accept Crypto Payments?

Therefore, merchants can choose to use the services of crypto payment providers to set up a checkout system directly on their websites. With the help of this system, an additional payment option — cryptocurrency — will be available to your customers. Some crypto payment platforms provide other ways to accept payments, such as custom integrations or payment buttons.

Step up to the next level, acknowledging your future success and growth, your best prospects for holding onto Millennials and Gen Z. That’s cryptocurrency. That means bringing cryptocurrency payment methods into your operation. Plus, many more crypto trends, such as crypto trading and indicators for technical analysis, are gaining traction. Banks, credit companies, and more take our information and retain it.

If you already have a website with an e-commerce platform in place, it’s easy to integrate Bitcoin payments into the existing system. Not all cryptoprocessors have this functionality, but that may be OK if you’re looking to increase your own holdings in cryptocurrency. That said, you may decide to only allow customers to pay you in the particular type of cryptocurrency that you deem most stable.

Nowpayments Crypto Api

Join the thousands of businesses already using the world’s leading crypto payment processor. The only downside to manual payments is that you’re solely responsible for managing your crypto account. Wallets and payment processors usually shoulder some of the burdens.

More businesses need to accept crypto to keep up with the rest of the industry, meet customer demand, and challenge their competition. Accepting bitcoin payments is more than a survival strategy for businesses since it can also boost business efficiency. It’s cheaper than other payment options because there’s no third party involved . There are no fees for receiving or sending money, just a small fee for processing transactions. Crypto payment gateways provide various integration tools, from APIs to plugins and invoices.

Cryptocurrencies To Accept

For another, you can accept crypto from anyone at any time so long as you both have each other’s relevant crypto wallet information. BitPay is one of the best options for websites that are looking to accept crypto payments. If you do decide to accept Bitcoin on your site, then financially it can be rewarding too. Crypto tends to have very low transaction fees compared with traditional payment methods.

• They are based on blockchain technology, a decentralized organizational method that is spread across several computers to ensure the integrity of transactional data.
• In addition, you should check for minimum withdrawal limits for your payment gateway.
• You can accept any payment method that supports cryptos easily.
• In a user’s opinion, bitcoin is pretty much a mobile app or computer program that offers a personal bitcoin wallet and allows the transfer of money with them.

A more progressive way to accept cryptocurrency payments is by means of our API software. Coinbase is a cryptocurrency exchange platform that allows users to buy and sell all the major cryptocurrencies. It’s fully regulated, fully licensed, and has over 68 million users. Thus, making it one of the most popular cryptocurrency exchanges. And, now, it allows you to accept crypto payments in your WordPress eCommerce store.

Accept Crypto Payments

Merchants can also opt for daily bank deposits and get the BitPay MasterCard debit card for greater convenience. Coinbase Commerce offers you flexibility, and it’s among the most popular and reliable digital wallets, making it both beginner-friendly and secure. It accepts seven different cryptocurrencies, sends invoices, and uses transaction reporting tools to account for and reconcile them.

To this end, many e-merchants are scrambling to start accepting bitcoin and other cryptocurrency payments. We’ve identified five simple ways to implement this in your WordPress eCommerce store. You can accept Bitcoin and other cryptocurrencies manually by signing up for a merchant account on a payment processor like BitPay.

Pros And Cons Of Accepting Cryptocurrency As A Payment Method

In such cases, you can send an invoice to your customers with your crypto wallet address. Then they can send you crypto funds as soon as they receive the invoice in the mail or over email. This is just one more reason why CoinPayments is the go-to choice for merchants who want to accept cryptocurrencies. CoinPayments offers crypto gateway services and payment processing in the same location. Because of this, you can handle all of your crypto-economic business in one place, especially since CoinPayments’s wallet is also controllable from the same core dashboard.

With the 2021 crypto boom, it’s only a matter of time until we see more merchants accepting cryptocurrency payments. If you are in search of the best cryptocurrency payment gateway, consider CoinsPayment. Being around since 2014, the processor accounts for 5% of all on-chain Bitcoin transactions. It offers a well-developed crypto-financial ecosystem including a cryptocurrency wallet, in-built exchange and OTP desk. Whatever you choose to do, you will still set up your business for success in the coming years as cryptocurrencies become more accepted worldwide.

New retail investors are more interested in the project’s use cases and overall functionality, than they are concerned about bitcoin’s price. When accepting payments manually, you will have to invoice and bill on your own instead of having the third-party processor doing it. While this cuts out the middleman, it can be a lot of work and requires technical experience. It may not be a good choice for websites that process large volumes.

To accept Bitcoin payments on WooCommerce, you will need to install a WordPress plugin such as the BitPay for WooCommerce plugin. That’s pretty much everything you need to know to start accepting cryptocurrency for your business. The rate at which customers abandon their shopping carts could take a significant bite out of your profits if even a little problem arose during the checkout process. If you want to start accepting payments for your online store right now, SKYPAY includes everything you need. The most convenient and effective online payment gateways and shopping cart systems accept a wide variety of payment methods. Make sure your customers can use your product with little effort on their part.

Withdraw your payments to your local bank in exchange for a 1% fee. If you have many customers who actively use cryptocurrencies, then you should allow them to pay you using crypto-currencies. The service fee is collected automatically before funds are transferred to the merchant settlement account. The GoCrypto crypto payment application was originally launched in 2017 and has been rapidly expanding its reach beyond Slovenia to other European countries and beyond. There are still rumors that crypto is used for illegal purposes, but that’s not the case here.

Bitpay has been making crypto payments for big industry players like Microsoft, Shopify, airBaltic, etc. While you can always set up a manual wallet and accept payments, the convenience of using a dedicated third-party solution is unmatched. Then you will be able to receive the coins in your wallet, and the order can be processed soon after the completion of the transaction.

The team is constantly adding new currencies and wallets to its platform to allow crypto enthusiasts to make use of crypto in everyday life. More than 50 cryptocurrencies are accepted through GoCrypto’s supported wallets (Bitcoin.com Wallet, Elly Wallet, and Binance Pay). This is especially true if your brand caters to Millennials and Gen Z, who are the most likely to be familiar with crypto. This crypto requires a separate wallet for each address, which means it will be extremely inconvenient to put the money from all the trades into one wallet . How to accept crypto payments when a single transaction’s fee is over $100? Therefore, you might only consider accepting cryptocurrencies manually if your business is primarily invoice-based.

BitPay also helps protect you from volatility through its Zero Price Volatility feature and daily bank deposits. For a 1 percent transaction fee, this is a pretty attractive offer. Different websites will require different solutions, but for the majority, the plugins do an excellent job. If you’re struggling to integrate these tools with your website, then don’t worry, though. Whether they love it or hate it; people love to talk about crypto. If you accept Bitcoin on your website, then you’re something of a pioneer, and this will stir lots of curiosity.

You just need to attach a small fee for your payment to get processed by the network. Here are some payment providers who will help you accept payments with bitcoins easily on your website. If someone makes a purchase on your website using cryptocurrencies, the money will be transferred to your wallet. If someone places a crypto transaction on your website, the customer is going to get money in the form of a virtual currency. You can then spend the money in a foreign currency of your choice. Marketing is about reaching the right people by sending a relevant message to the right people at the right time.

Most bitcoin transactions cost between zero and one percent, whereas the average credit card transaction fee is between 1.5 and 3.5 percent. This is probably the biggest question you’ve first got to decide on. Once you’ve decided to accept crypto, the payment processing is fairly easy to set up, but first, you’ve got to decide if cryptocurrency is right for your business. It’s about time you start to accept crypto payments and not be left behind in this raging crypto revolution. While the world debates on the subjective cryptocurrencies topic, you can simply accept bitcoin payments on your website without inviting any risk.