By Taugor - 01.02.2020
How to accept crypto payments on website
Start accepting bitcoin today. Or spend & store bitcoin with the BitPay Card and Wallet. Learn how to securely accept Bitcoin, Litecoin, Ethereum, and other cryptocurrencies with Coinbase Commerce. Get started in minutes.
That, coupled with the fact that you can use Bitcoin to purchase goods and services anonymously, makes BTC an attractive payment option for a lot of people.
How to Accept Bitcoin In Business?
Should you start accepting Bitcoin payments? How do you do it? By the end of it, you will have a solid understanding of BTC and a clear idea of how you can make it work in your source. Why should ecommerce merchants care about Wow purkom How to accept crypto payments on website has many benefits, but for ecommerce stores, the three biggest advantages are a BTC is chargeback-proof; b there are zero how to accept crypto payments on website low link fees associated with Bitcoin; and c accepting BTC makes business more attractive to certain types of customers.
No chargebacks Unlike credit card transactions, Bitcoin transactions are irreversible. This eliminates your chargeback costs, and it how to accept crypto payments on website harder for people to commit ecommerce fraud. Zero to low transaction fees As mentioned previously, Bitcoin is unregulated by governments and financial institutions.
Transactions take place directly between the buyer and seller, so there are no middlemen to put holds on your funds and, more important, the fees if any for processing BTC payments are lower compared to those for credit cards.
To be specific, majority of Bitcoin users seem to fall between ages 25 to 44, and are predominantly male. But we can expect these demographics to broaden as Bitcoin adoption continues to grow.
To illustrate this, below is a chart showing the demographic information of users who visit bitcoinx. Source: bitcoin. Too much focus on the currency Bitcoin is quite novel, so if you start how to accept crypto payments on website it, expect many questions and conversations around the currency itself versus your products.
Go here I really want them to talk about chocolate how to accept crypto payments on website balsamic vinegar, not how they pay.
Accepting Bitcoin Payments on a Plain HTML Site
At this point, you may even be considering accepting the currency on your site. Here are the steps you should take to start taking BTC payments: Turn to your ecommerce platform If you already have an ecommerce site, you how to accept crypto payments on website quickly how to accept crypto payments on website started with Bitcoin by integrating your store with a BTC payment processor.
Most ecommerce platforms already have click the following article integrations, which makes setting up Bitcoin payments much easier. Do your research to see what your options are. In other cases, you may need how to accept crypto payments on website peruse the help documents of your ecommerce platform to find out how to accept Bitcoin payments as https://market-id.ru/2020/idex-login-metamask.html the case for Shopify users.
When in doubt, talk to your ecommerce solution how to accept crypto payments on website directly. Get in touch with your account go here and get the full details about how you can integrate your store with a Bitcoin payment processor.
Evaluate different solutions The next step is to evaluate the different BTC payment processors out there to see what works best for your store. Payout frequency — Some providers promise to initiate payouts daily, while others may take as much as 3 days. If payout frequency is important to you for example, if you must pay charges how to accept crypto payments on website to source that may build up quickly how to accept crypto payments on website busy daysmake it a point to discuss it with your processor.
Supported currencies — See to it that your Bitcoin payment processor supports the payout currency you prefer. Do they offer phone support or is everything done via email? What about live chat? Consider your preferred support channels then factor that in when making a decision.
Other ways to accept Bitcoin Integrating a Bitcoin payment provider is the simplest way to accept Bitcoin on your ecommerce site.
Coinbase, for example, has a button generator that lets you do this easily. Several providers have API documentation that enables you to do this.
Invoices — Another option is to use invoices instead of shopping carts. The process for creating invoices will depend on your Bitcoin payment provider. how to accept crypto payments on website
You may also want to how to accept crypto payments on website with your current invoicing solution to see if they support Bitcoin bittrex wire transfer or if they have any workarounds for the cryptocurrency.
The invoicing and payment process will vary depending on the merchant.
Some stores may wait for the invoice to be settled before shipping the goods. Others may choose to implement terms such as Net If you do decide to go the invoicing route, figure out what works best for your business how to accept crypto payments on website go from there.
Maybe it entails asking the customer to get in touch with you directly to purchase using BTC. How to accept crypto payments on website you can ask shoppers to leave a special note at checkout for example some marketplace sellers do this; you may see it on sites how to accept crypto payments on website as Etsy.
Use strong passwords and multi-factor how to accept crypto payments on website — Protect your wallet by using a strong, hard-to-guess password or better yet, a passphrase that contains a combination of upper and lowercase letters, numbers, and special characters.
Backups — Backups can help safeguard your funds in case of a security breach e.
If you only have a backup of the private keys for your visible Bitcoin addresses, you might not be able to recover a great part of your funds with your backup. Encrypt online backups — Any backup that is stored online is highly vulnerable to theft. Even a how to accept crypto payments on website that is connected to the Internet is vulnerable how to accept crypto payments on website malicious software.
As such, encrypting any backup that is exposed to the network is a good security practice.
Use many secure locations — Single points of failure are bad for security. If your backup is not dependent of a single location, it is less likely that any bad event will prevent you to recover your wallet.How to embed Bitcoin payment donation button on a website
Make regular backups — You need to backup your wallet on a regular basis to make sure that all recent Bitcoin change addresses and all new How to accept crypto payments on website addresses you created are included in your backup.
However, all applications will be soon using wallets read more only need to be backed up once. Consider cold storage — Cold storage is the practice of keeping an offline Bitcoin wallet. Doing so protects your funds in the event of a digital hack.
How to Set up and Accept Bitcoin Payments on Your Website
Make how to accept crypto payments on website a point to frequently transfer your funds offline or convert them to your local currency so you can have them in your insured bank account.
If you need Bitcoin to run your business, then only keep what you need at any given time.
Save time and alleviate concerns right from the get-go by clearly communicating your Bitcoin payment policies on your website. The specifics of your policies will, of course, depend on your business, but some of the factors you should think about are: Payment procedure — Explain how Bitcoin payments work how to accept crypto payments on website your site.
What are the steps customers should take if they want to pay with BTC? What information will they need to provide?
What Is Cryptocurrency?
Lay out the process as clearly as possible to reduce questions. It has a step-by-step guide, and it even has videos with supplementing information.
Refunds, exchanges, and returns — Will you allow customers to exchange or return items that were purchased using Bitcoin?
What if someone asks for a refund? And how will customers communicate with you? Have a think about how you will be addressing these things. Limitations — Are customers paying with BTC subject to any restrictions?
Are all your products and services eligible for Bitcoin payments? Spread the word Got your technologies and policies set up?
The cheapest and easiest way to accept Bitcoins in business
The next step is getting the word out. For more images, check out the BitcoinWiki page on promotional graphics. List yourbusinesss in how to accept crypto payments on website directories so you can put your business out there and drive traffic to your site.
Here are a few of directories you can start with:.
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