Thursday, June 23, 2022

How To Accept Crypto Payments

Large Template Library And Speed

How to Accept Crypto Currency Payments on Your Website | BITCOIN and More

Wix is the ultimate choice for everyone who wishes for their website to look modern and to have a user-friendly interface. The platform spares its users from the need to build their pages from the very beginning . It provides them with a chance to simply add features of their choice to the ready-made foundation.

Wix has templates in various categories, including eCommerce, music, restaurants, and blogs. It means that every person will find an option which will suit their needs. As its websites are fast, businesses can be certain that their clients experience will be free from crashes, freezing, and lagging.

How Do I Accept Cryptocurrency Payments On My Website

As crypto grows in popularity, you may find the benefits of offering this payment outweigh any potential hurdles. Adding it as a payment option to your website can help open up your business to a new target audience and give your customers more payment options to make checkout easy for them.

Companies that accept cryptocurrency payments on their websites also benefit by capturing new customer traffic that can become repeat customers. Additionally, cryptocurrency transactions have fast processing speeds leading to less time between the sale and the payment clearing.;

Bitcoin Transactions Are Secure

Bitcoin is not physical currency. Therefore, it is impossible for thieves to palm it off the holder. Hackers can steal a persons cryptocurrency if they know the private keys for the wallet. However, with proper security, it is technically impossible to steal bitcoin. While there are reports of hacks at cryptocurrency exchanges, Bitcoins exchange has remained impervious to such breaches. Therefore, transactions conducted between two addresses are secure.

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Shiba Inu To Fiat & Mass Payments

NOWPayments is committed to promoting mass adoption and recognizes the need to bring together crypto and fiat payments. That is why NOWPayments offers the option of converting crypto to fiat.;

Essentially, companies that accept SHIB using NOWPayments solutions can receive their clients payments in a fiat currency. NOWPayments observes enterprise-level legal and compliance standards, which means that companies using the conversion feature will not have any problems with the authorities.;

It works the other way around too: people can pay in fiat, and merchants can receive Shiba Inu.;

Another feature available to businesses utilizing SHIB tokens and other cryptocurrencies is mass payments. This feature is indispensable for businesses that utilize cryptocurrencies on an advanced level. NOWPayments facilitates the process of sending payrolls to employees, rewards to hundreds of clients, commission fees to freelancers, and any other type of payment.

What Are The Advantages Of Using Bitcoin For Transactions

How To Accept Bitcoin (& Other Crypto Payments) on Shopify?

There are several advantages to using Bitcoin for transactions. However, the two main advantages of using the cryptocurrency are its peer-to-peer focus that removes intermediaries and its pseudonymous design that eliminates the need for identification information for both parties. Both characteristics expedite transactions and remove unnecessary steps for transactions.

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Start Accepting Crypto As Payment

Within a short span of time, Cryptocrunnecy has proven its worth. This is why many business owners from around the world are ready to accept Crypto payments. And why not so when it offers low transaction fees, merchant protection, increased sales, and much more

But the problem is, Cryptocurrency has certain limitations. It has technical barriers, high volatility, security issues, regulatory uncertainty, etc. So it becomes difficult for small business owners to accept Crypto as a payment.

Really?

Not anymore. Lets discuss in detail how!

When it comes to accepting Crypto as payments, You need to know that anyone with a cryptocurrency wallet can individually transfer coins to others. When it comes to accepting this payment, a QR code is required to connect to a wallet. This QR code will be scanned by the other person to transfer to your account. You also need to know that though some wallets charge a fee for spending, you are not required to pay any fee for accepting Crypto payments.

Apart from this, there are many options. It is up to you what business you carry and what payment method suits your business.

  • Personal Crypto payments: If you are just a beginner and are not sure whether you want to accept payments, you can try it first. For this, you are just required to create an account on the secure network. For more details you can visit here ;

Amazon Denies Report Of Accepting Bitcoin As Payment

Packages emblazoned with Amazon logos travel along a conveyor belt inside of an Amazon fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2017. REUTERS/Lucas Jackson

July 26 – Amazon.com Inc on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year.

The report from London’s City A.M. newspaper, citing an unnamed “insider”, sent the world’s biggest cryptocurrency up as much as 14.5% before it trimmed gains to last trade 6% higher at $37,684.04.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,” said a spokesperson from Amazon.

“We remain focused on exploring what this could look like for customers shopping on Amazon.”

The company on July 22 posted a job opening for a digital currency and blockchain product lead.

A growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions until a few years ago closer to the mainstream.

Last week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency. read more

Also Check: How Much Is One Crypto Coin Worth

How Can Accepting Cryptocurrency Benefit My Business

Cryptocurrency merchant accounts are available both within the UK and worldwide. As well as the customer benefits listed above, accepting cryptocurrency can have some appealing attributes to merchants. The transactions cannot be faked or reversed, providing an element of security for both customer and merchant. In industries known for large chargebacks, this can be very beneficial. Also, the fees involved in cryptocurrency payment methods tend to be low.

Who Uses This Anyway

How a Business can start accepting Cryptocurrency Payments such as Bitcoin & Ethereum

A new study from Cornerstone Advisors revealed that 15% of American adults now own some form of cryptocurrency. Apple Card holders only comprise 5% of all credit card customers, but among those that do have the card, 47% own some form of cryptocurrency, and two-thirds of them purchased crypto in 2020.

Millennials are the biggest audience of cryptocurrency users, as they have learned to value anonymity a virtue that distinguishes digital assets. Crypto technology enthusiasts and tech-savvy users who understand the advantages of decentralization for transaction transparency and security are also prominent users. The same audience includes advanced specialists from IT and related fields, as well as those who trade cryptocurrencies and mine them.

But, more importantly, cryptocurrencies are being used by merchants and businesses that are eager to offer new payment opportunities and thus attract clients who prefer such payments.

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The Value Of Cryptocurrency Fluctuates A Lot

While the value of national currencies can fluctuate a little with time, the change in cryptocurrencies value can be more dramatic. It is not uncommon for the value to drop by thousands of dollars within a few hours. As a result, you can have a customer buy a product for a fair price with cryptocurrency, but if the value goes down significantly, you could lose money. This volatility may not be worth it for some businesses.;

Why You Should Accept Cryptocurrency Payments: Anonymous Security

What is the best cryptocurrency to accept payments? Lets try to find out further. What every cash critic is talking about is security. Cash is one of a few payment methods that cannot be controlled.

Bitcoins, or generally most cryptocurrencies, work on the same principle. Although theyre digital, they always leave a trail. However, an underlying principle of blockchain is so complex that its generally considered to be much safer than any other digital payment method such as an ordinary card payment. Do you still wonder why you should accept cryptocurrency payments? Why this way is that popular?

Well, such anonymity affects ordinary people. Does a bank need to know everything? Online workarounds are the best ones in case you dont have enough time to wait for cash on delivery at your front door.

Today, Bitcoin is a more secure, increasingly widely accepted means of payment where only a payer and recipient know about a transaction made.

Also Check: How Do You Pay Taxes On Cryptocurrency

Currently Theres No Recourse If Stolen

Typically, an issuer or bank will return money from stolen credit cards or bank accounts. However, cryptocurrencies dont have built-in protections. Therefore, its on the cryptocurrency holder to add proper security measures to keep their cryptocurrency safe.;

Not to mention, crypto is still very much in the Wild West phase. There are tons of fake gurus, scammers, and get-rich-quick schemes, like this example. If you are a newbie and dont know what you dont know, it is easy for you and your business to get taken advantage of.;

Stores That Accept Bitcoin As Payment

Survey says 36% of small businesses in the US accept ...

Aside from the big companies Ive mentioned in the previous chapter, there are many small and medium businesses that accept Bitcoin as well.

  • Alza Largest Czech online retailer
  • Alternative Airlines ;A flight-search website that offers ways to book flights using a range of cryptocurrencies.
  • Bitcoin.Travel a travel site that provides accommodation, apartments, attractions, etc.
  • Travala Travala.com is the largest cryptocurrency-friendly OTA in the world. It offers comprehensive travel products, such as hotel lodging and tours, for a large selection of destinations. Services can be paid with a variety of cryptocurrencies, Bitcoin and Ethereum included. Travala.com is backed by Binance, the popular crypto exchange.
  • Pembury Tavern A pub in London, England
  • Old Fitzroy A pub in;Sydney, Australia
  • The Pink Cow A diner in;Tokyo, Japan
  • Zynga Mobile gaming
  • Foodler ;North American restaurant delivery company
  • Amagi Metals Precious metal furnisher

While many companies are very excited to let us know when they start accepting Bitcoin they dont bother to update if they stop. Therefore this list can be somewhat outdated, so take it with a grain of salt.

Additional SMBs that accept Bitcoin can be found here and here. Also, many people have started advertising their SMBs in the comment section of this page.

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What Is A Crypto Payment Gateway

Crypto payment gateways work the same as the normal payment gateways. Such as skrill, PayPal, and much more. It is the payment network that permits easy and secure transactions of cryptocurrencies. Not only makes easier transactions but also accelerates the speed of crypto transactions. Crypto payment gateways support all virtual cryptocurrencies. Such as bitcoin, ethereum, litecoin, ripple, bitcoin cash, EOS, and other cryptos.

Crypto payment gateways allow immediate transaction of bitcoin and other popular cryptocurrencies into fiat currencies. It is integrated with other special software tools and it takes the full process of crypto coins transactions into the wallet of users in the crypto exchange. It is mostly used in crypto trading platforms and crypto trading mobile applications.

As we can see the increased usage of cryptocurrencies in all parts of the world. This insisted many companies accept digital currencies as their payments. So many startups started to adapt crypto payment gateway development for their business. Also, using blockchain in crypto payment gateway development means a lot for many businesses. Because It brings more trust and efficiency among various networks. I hope you have some ideas about crypto payment gateways. Now, let us see the best 10 crypto payment gateways in 2021.

How To Accept Payments In Cryptocurrency

There are two ways to accept cryptocurrency in your eCommerce store: through your personal wallet or through a third-party payment processor. We’ll go over both methods.

If youre going to accept cryptocurrency through your personal wallet, youll need to step up a virtual wallet. Most wallets can be quickly downloaded to your phone or computer, or you can get a hardware wallet. A hardware wallet is a physical safe that stores the cryptocurrency in the device on a special hard drive. Its really the only secure hardware device that lets you store a users private key.

Otherwise you can use a third-party payment processor, such as Coinbase or BitPay, and they will handle the entire payment process, just as credit card payment processors do. One benefit of using a third-party payment processor instead of a personal wallet is that they can instantly convert the cryptocurrency into fiat, saving you from any price volatility. Price volatility refers to the changes in value that cryptocurrency is subject to, which can sometimes be quick and extreme. Being protected from this means that you’ll get paid the amount you charge, even if the value of the coin changes mid-transaction.

Choosing a wallet and provider can be a tricky process. Remember that not all wallets and exchanges are reliable since anyone can start their own cryptocurrency trading exchange platform. If you’re interested in doing this, you can look into hiring a blockchain developer.

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Using Woocommerce For WordPress

WooCommerce is a popular plugin for selling products from WordPress sites and has integrations with Coinbase. Youll need to install the Coinbase Commerce Payment Gateway plugin from the WordPress marketplace.

Then, under;WooCommerce > Settings > Payments, youll need to enable it. And next, under Manage, youll need to configure the plugin.

This panel needs two things from youyour Coinbase API key and the Webhook Shared Secret, which Coinbase uses to message WordPress. Youll need to add an endpoint from the Coinbase webhook subscriptions page and copy the shared secret into the box.

Accept Bitcoin Payments On Your Website

How to Accept Bitcoin Payments | Crypto Payment Gateway | NOWPayments

BitcoinPay offers an API that can be integrated with most eCommerce platforms today including websites and mobile apps. Samples of code with mock server testing are available in php, java, python, Ruby, Perl and more. ;They even have a designated button generator for dummies.

But heres the best part: If you dont know how to code, you can still integrate bitcoinpay relatively easily by downloading one of their dedicated plugins for opencart, magento, prestashop and woocommerce. Simply navigate to the developers section and download the required plugin. Then upload it to the backend of your website and configure the settings according to your needs.

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The Future Of Cryptocurrency For Small Businesses

While novelty and volatility are part of what make cryptocurrency so exciting to traders, this element of risk can be off-putting to small businesses. You can reduce risk by researching cryptocurrency companies carefully before determining which you will accept. Its also important to realise that regulation is rapidly changing, so there may be more merchant protections put into place over time.

Ultimately, the future of cryptocurrency looks promising both for small businesses and consumers alike. Adoption is rapidly increasing, and as more big companies like Microsoft start to accept crypto as payment its likely that smaller businesses will follow suit. Furthermore, there are an increasing number of platforms that help manage cryptocurrency payments on your behalf to take all risk out of the equation. The ability to expand your brands reach intointernational markets alone makes it well worth exploring.

We can help

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GoCardless is used by over 60,000 businesses around the world. Learn more about how you can improve payment processing at your business today.

Amazon Denies Accepting Bitcoin Sends It Tumbling

A job posting for a digital currency lead had pushed Bitcoin past $40,000 on Monday, its highest since June 15.

Amazon.com Inc is denying a media report saying the e-commerce giant is looking to accept Bitcoin payments by the end of the year.

The report from Londons City AM newspaper, citing an unnamed insider, sent the worlds biggest cryptocurrency up as much as 14.5 percent before it trimmed gains to last trade 6 percent higher at $37,684.04.

Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true, said a spokesperson from Amazon on Monday. We remain focused on exploring what this could look like for customers shopping on Amazon.

The company on July 22 posted a job opening for a digital currency and blockchain product lead.

Earlier on Monday, the job posting from the retail giant had stirred questions among analysts over whether the move could eventually lead to Amazon accepting Bitcoin as a method of payment.

The companys denial sent Bitcoin tumbling below $37,000 while rival coins including Ether and Litecoin also fell.

Investors rushing to cover bearish bets had fuelled the earlier rally that drove the coin at one point up more than 17 percent on Monday to $40,545, its highest since June 15. More than $950m of crypto shorts were liquidated on Monday, the most since May 19, according to data from Bybt.com.

Were still seeing the correction play out, he added.

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Why Businesses Should Accept Cryptocurrencies

There are several good reasons for allowing your customers to pay with cryptocurrencies and there are a great number of advantages to be enjoyed by adding this mode of transaction to your payment methods. Businesses should consider adding them to their payment method portfolio not only to offer their existing customers new ways of paying, but to gain access to new customers who choose to use cryptocurrencies to pay for goods and services. It goes without saying that they are also an ideal way to help boost your revenues and are thus al win-win situation that businesses cannot afford to ignore.There are further benefits. Accepting crypto payments allows customers a discreet method of payment, payments that are secure and stored indefinitely on the blockchain ledger and a decrease in costs that are associated with other payment methods such as credit cards.Crypto payments are not subject to strict regulation by entral banks, governmental institutions and tax authorities, so they have no control over them. In addition, contrary to other payment methods, once a crypto payment has occurred, it is not possible for it to be reversed, and of course, there are no chargebacks.

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