How to Accept Bitcoin as Payment on Your Website
As the Bitcoin community expands, shop owners seek how to accept Bitcoin as payment. Learn more here
Financial analysts all over the world are talking about the revolutionary digital currency that is steadily changing our landscape. The question is no longer, “How to buy and sell Bitcoins.” It has become, “How to accept Bitcoin as payment for business.” Thankfully, developers have developed a myriad of options, providing you with alternatives to choose from.
This post will cover everything you need to accept payments in form of Bitcoin.
How to accept Bitcoin payments on your Shopify or eBay
As a seller, it is important to provide your buyers with a lot of options and variety, especially as regards payment options. But the most important part of this process is providing an easy method of paying. Usually, the conventional way of doing this is by creating an invoice.
But then, accepting Bitcoins means that you probably need to convert the value from a fiat currency to a digital one. The volatility of the currency means that it is impossible to keep up with the particular value. Hence, you should seek ways to be able to generate an invoice automatically without stress.
Thankfully, some systems available provide you with means of not only generating an invoice but recording and storing it for tax purposes. Also, a QR code can be generated so that the customer can easily scan and make payments.
Some platforms offering the service include:
Invoiced
CoinKite
Coinify
Blockonomics
BitPay
Now, let’s go on to how to accept Bitcoin for payments on your e-commerce or Shopify store.
How to accept Bitcoin payments instead of cash
Remember, Bitcoin is global now. Developers are always on the lookout for ways to incorporate Bitcoin payment into their system. Now, there are manifold commerce-specific hardware POS services available to merchants. Some of them are Bitcoin-specific, while others are APIs that can be integrated into existing terminals.
Some of the services are mentioned below.
Bitcoin Internet Payment System (BIPS)
The name is self-explanatory; it is a payment processor that allows merchants from all around to trade Bitcoin and also accept payments in Bitcoin. They also provide a POS app for Android users. To integrate BIPS into your website, you can use plugins available on some of the popular e-commerce websites. The system also gives you an avenue to store and archive invoices.
Coinbase
Coinbase also provides a POS app for android users. But there’s a restriction to their service. Only bank accounts from the US are allowed. Nonetheless, they offer extensive support to e-commerce store owners. In addition to the HTML code segment they provide, they also have plugins available for WordPress, WooCommerce, Magento and ZenCart.
Coin of Sale
The name sounds intuitive, right? Well, the company’s aim is to make Bitcoin payments easier for clients and sellers alike. It is the brainchild of a Singapore-based veteran, Thomas Forgac, and the service works with both Android and iOS devices. It works with Electrum so once a new user signs up to Coin of Sale, they set up an Electrum wallet.
For the merchant to receive money, he/she needs to put in the required amount of money expected and then the app generates a QR code. The customer then scans the QR code to complete the payment.
Read More : https://u.today/how-to-accept-bitcoin-as-payment-on-your-website