Everyday Cryptocurrency is becoming more well-known, and many online storefronts choose to pay for this with credit cards and other digital wallets.
This is a question that many of us will ask as cryptocurrencies become more and more important. Accepting Crypto Payments on your site is yours, but if you choose to do so, it is important to get the right system in place for your bitcoin payments.
Let’s view how they can do so
Over the past few years, cryptocurrencies such as Bitcoin, Ethereum, Polkadot and Litecoin have become popular in the cryptocurrency space. For example, the total market value of Bitcoin exceeded $1 trillion in February 2021.
Therefore, it is not surprising that the world’s largest companies have begun to accept Cryptocurrencies as Payment Methods for many goods and services. Various companies, including AT&T, Dallas Mavericks, Microsoft, Overstock, Tesla and Twitch, will begin accepting Bitcoin and other digital currencies in 2021.
Small businesses can also take advantage of the crypto craze, with the help of online payment processors that can easily Accept Digital Payments. These processors usually offer a transaction fee of 1% or less, which is less than the fee you pay on most credit cards.
Let’s take a look at Digital Wallets:
About 300,000 new Bitcoin wallets are created each month, and this number is expected to continue to increase as digital wallet technology continues to be accessible and easy for the average person to use.
What’s a digital wallet?
These are unique identifiers that indicate the ownership of software, apps or cryptocurrency tokens that store private and public keys. In a sense, digital wallets are like decentralized, unregulated bank accounts.
Many digital wallets are based on a currency such as the Bitcoin Core, which only stores and spends Bitcoins. However, others are capable of holding multiple currencies for added convenience.
Digital Wallet makes cryptocurrency accessible to business owners and customers and takes just a few minutes to set up. The exact process will vary depending on the wallet, but in general, the user has to:
- Choose a wallet solution
- Download the software client
- Encrypt the wallet
- Install the mobile app
What is the best way to accept bitcoin and cryptocurrency on your website?
Crypto is designed for the modern world, so it’s not surprising that your website hasn’t been set up too much to start accepting bitcoin.
There are some basics that everyone wants, so you must decide the best way for your website to accept crypto payments.
- The Basics
- Good Communication
- Platforms and Integrations
What to look for in a crypto payment processor?
When you Accept Crypto Payments on your website, you want maximum value for your customers and your business. Since there are various crypto payment processors to choose from, it is significant to evaluate your options and ensure you are getting the best deal.
- Transaction Fees
- Payout Frequency
- Supported Countries
- Customer Support
What are 5 Ways to Accept Bitcoin and Cryptocurrency on Your Website?
Let’s start by looking at it.
There are various Bitcoin Payment Processors and other manual ways to accept Bitcoin on your website. I suggest you explore these companies in depth and find the best solution for your business – here are some simple ways to start crypto payments on your site.
Atlanta-based BitPay is one of the largest companies in the world helping businesses accept cryptocurrency payments. The company offers a variety of tools to facilitate the acceptance of crypto payments, including hosted checkout, payment buttons, invoicing and QuickBooks and Shopify integrations, among other things. Customers can pay online, via email and in person. Another nice feature given by BitPay is that it preserves businesses from crypto price fluctuations. The company charges only a 1% transaction fee on virtually all transactions and permits customers to settle utilizing a local cryptocurrency.
Silicon Valley-based CoinBase is perhaps best known as one of the best markets for buying and selling bitcoin and other cryptocurrencies. However, it also has a Commerce product that makes it easier for businesses to accept digital payments. The company has the tools needed for every company that wants to accept crypto payment requirements, including hosted checkout pages, payment buttons, invoicing and e-commerce integrations such as Shopify and WooCommerce. But unlike similar services, CoinBase encourages businesses to “become your own bank” — and the site controls the company’s assets.
One of the longest running services for cryptocurrency payments is CoinPayments, which has been helping businesses around the world since 2013 with its victory blockchain payments service. CoinPayments acts as a payment processor for personal transactions and online transactions , and it supports various cryptocurrencies. The company’s plugins work on almost every major e-commerce service, including Magento, Shopify, OpenCart and WooCommerce. And with just a 0.5% processing fee, this could be making a lot of noise for digital payments.
Founded in 2013, GoCoin is another cryptocurrency processor that has helped businesses manage cryptocurrencies for many years. This service allows merchants to accept Bitcoin, Bitcoin Cash, EOS, Ethereum, Dash and Litecoin payment methods as well as other payment methods. GoCoin provides a 1% transaction processing fee and works with most e-commerce services including Magento, OpenCart, OSCommerce, Prestashop, Shopify, UberCart, WooCommerce and ZenCart.
PayPal, one of the largest online payment companies in the world, recently announced that merchants on the PayPal network can make payments via Cryptocurrencies, which are used to pay for goods and services online. More than 29 million merchants use PayPal online, so this new measure will make it much simpler to accept crypto payments. Customers with PayPal wallets can convert Bitcoin, Bitcoin Cash, Ether and Litecoin into fiat currencies such as dollars and euros when examining with an established PayPal merchant. This means that as a merchant you will not truly accept crypto straight, but it will at least open the door for more people to buy your products and services using Bitcoin or other digital currencies.
TripleA is one of the new global cryptocurrency processors established in 2018 by serial entrepreneur Eric Barbier in Singapore. TripleA offers a developer-centric approach to accepting cryptocurrency payments, including e-commerce, point-of-sale, invoicing and remittances for users of the cryptocurrency platform. At the forefront of e-commerce, TripleA integrates with Shopify, WooCommerce and OpenCart, and offers a simple business dashboard that allows you to track orders and payments, adjust your accounts, withdraw money at any one location, and manage your purchases in a single location.
How does it work?
- You sell a service or a product
- Shopper selects CoinGate to pay
- We generate payment invoices and send them to you
- You receive your earnings
Let’s See Why You Should Accept Cryptocurrency on Your Website
- Everything Is Going Digital
- Cost Effective Business Transactions
- Real-Time Digital Currency Exchange
- More Secured Transactions with No Chargebacks
- Enter the Global Marketplace
- Low fees
- Irreversible payments
- Superior customer privacy
Here I have finalised all of the above solutions for Dojipjay’s “Best Crypto as a Payment Method” which includes all of the features of Dojipjay’s Accept Crypto Payments gateway in addition to the standard payment method.
Let’s see if there are any queries about Accept Bitcoin and Other Crypto Payments that you can come up with.