Accept Bitcoin Payments with the #1 Crypto Payments Processor

Silicon Valley-based CoinBase might best be known as one of the top marketplaces for buying and selling Bitcoin and other cryptocurrencies. Still, it also has a Commerce product that makes it easier for businesses to accept digital payments. However, unlike similar changing git default branch from master to main on command line cli services, CoinBase Commerce encourages companies to “be your own bank,” and the platform gives the company granular control of assets. Another cryptocurrency processor that has been helping businesses manage crypto payments for years is GoCoin, which was founded in 2013. The service can help merchants accept Bitcoin, Bitcoin Cash, EOS, Ethereum, Dash and Litecoin payments. GoCoin offers a 1% transaction processing fee and works with most e-commerce services, including Magento, OpenCart, OSCommerce, Prestashop, Shopify, UberCart, WooCommerce and ZenCart.

While Bitcoin transactions can zip through almost instantly, the time it takes for funds to reach the merchant’s account can vary. This depends on the payment gateway and its specific terms of service. In essence, Bitcoin’s payment system offers a decentralized and secure alternative to traditional methods, albeit with a bit of a learning curve and varying processing times.

1. Think of it as keeping more cash in your pocket instead of losing it in transaction fees.
2. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website.
3. Before making an online purchase with crypto, you should check with the merchant to see which cryptocurrencies they support.
4. Whichever route you choose, ensure it translates well into your business model, offering a simple and seamless checkout process.

How to accept Bitcoin payments: A 2021 guide for small businesses

Bitcoin may be a volatile currency yet its use case is compelling, here are some examples of individuals who may benefit from receiving payment in Bitcoin. On the other hand, some developing countries have embraced the crypto revolution and welcome the possibility of a global currency being available to their population. You can read about the most (and least) how to become a front-end developer crypto-friendly countries in the world here. Learn what makes utility tokens stand out from other cryptocurrencies, and how they function within different types of blockchain projects.

MoonPay makes it easy to buy Bitcoin using a credit card or debit card, allowing you to send your digital currency directly to any non-custodial wallet address. You don’t need to go through extraneous steps on multiple platforms or wait around for days while your funds settle on a cryptocurrency exchange. In wrapping up, while we can’t pin down the exact timeline or scale of Bitcoin adoption, the signs are there. We’re looking at a future where digital wallets could become as commonplace as credit cards, with more and more merchants exploring the untapped potential of Bitcoin and other cryptocurrencies. For instance, BitPay is both a wallet and a payment processor.

Step 2: Choosing the right Bitcoin payment processor

Blockchain employees are the ideal candidates to be paid in Bitcoin. By their nature, blockchain companies are often decentralized over many countries so Bitcoin is an obvious choice of payment. Furthermore, as blockchain employees, they should be familiar with how cryptocurrency trading works so it would be challenging for them to engage in financial activities with their pay.

Namely, that blockchain is a type of database that can record and distribute digital information while preventing it from being edited. This tamper-proof design is what makes cryptocurrency so secure. During the past few years, cryptocurrencies have exploded in popularity, with assets such as Bitcoin, Ethereum, Polkadot and Litecoin all growing sizably. Bitcoin’s total market cap, for example, surpassed $1 trillion in February 2021. A Crypto Neo Bank let’s you to manage both crypto and fiat funds in one platform. The acceptance of cryptocurrency is continually expanding, so it’s always a good idea to check with the specific merchant.

Can I pay friends and family using crypto?

Crypto transactions are also secure, and virtually impossible to alter or interfere with, which reduces the risk of fraud even when sending money to a total stranger. One of the longest-running services for cryptocurrency payments is CoinPayments, which has been helping businesses worldwide since 2013. CoinPayments acts as a payment processor for both in-person transactions and online platforms, and it supports numerous cryptocurrencies.

Customers simply scan your offered QR code with their digital wallet app. bitcoin vs bitcoin cash The required information, including your bitcoin address and the requested payment amount, should autofill. Although Bitcoin generally appreciates in value, over time, the day-to-day price can fluctuate wildly, resulting in substantial gains or losses.

However, if the Argentinian paper pays the German writer in Bitcoin there are no large fees and the German writer has his pay ten minutes after the Argentinian paper sent it. Although merchants may be more likely to accept Bitcoin than altcoins, some may only accept non-Bitcoin tokens. For example, some merchants may prefer stablecoins such as Tether or USDC. Bitcoin transactions can be made across borders without the need for currency conversion or intermediaries. Before deciding whether paying via Bitcoin is right for you, it’s important to understand this payment method type. Decisions often in the hands of card networks, and they often favor the customer.

BitPay

There are several websites and apps that allow you to purchase gift cards with Bitcoin. This can be a useful alternative to paying with crypto directly. If you prefer to use Bitcoin or other cryptocurrencies for everyday purchases, you can always buy gift cards that are accepted practically everywhere by retailers and online platforms. As digital currency has grown in adoption since then, so too has the number of merchants and businesses willing to accept Bitcoin and other crypto in exchange for goods and services.

With MoonPay, it’s easy to buy Bitcoin, Ethereum, and 100+ other cryptocurrencies using a credit card, bank transfer, Apple Pay, Google Pay, and many other payment methods. Crypto payments are verified by the blockchain, a public ledger that records all transactions with 100% transparency. Bitcoin transactions are also pseudonymous, meaning they are linked to your crypto wallet address instead of your identity. When Bitcoin first launched in 2009, you’d have been hard pressed to find a merchant that was willing to accept cryptocurrency as a payment method. Besides the odd pizzeria accepting Bitcoin, you could only send crypto from one wallet to another. It’s worth noting that PayPal allows shoppers to pay using cryptocurrency.

Sell crypto easily

This sweeping wave of acceptance is echoed by more than 85% of organizations now prioritizing cryptocurrency payments, including giants like Visa exploring Bitcoin avenues. But Tesla isn’t the only company keeping cryptocurrency in mind. As of August 2021, plenty of other big names accept Bitcoin, including AT&T, Overstock, and the Wikimedia Foundation.

You will be able to keep a portion of your pay as a long-term investment. The more methods you have to accept payment the more opportunity you will have to expand your clientele. Other countries have not set up a framework for getting paid in crypto and yet others have even imposed restrictions on all cryptocurrencies. If you are not planning to move and still want to know how to get paid in cryptocurrency you can check out your country’s crypto regulations. The legality of getting paid in Cryptocurrency changes from country to country. Some countries have embraced the crypto market and provided their citizens with clear rules to follow for how to accept Bitcoin as payment.