We cannot stay away from saying that cryptocurrencies are hugely in demand. Many online storefronts have been involved in the race of offering crypto as a payment alternative along with digital wallets and credit cards. Are you also searching for how to accept crypto payments on your website? If yes, you are on the right track.
Cryptocurrencies have been famous these days and we cannot neglect this fact. So, it becomes crucial for many of us to accept crypto payments and not stay away from this crypto revolution. There are many benefits of choosing crypto as a payment method. Well, you can target a wider audience if you opt for crypto payments.
If you are looking for how to accept crypto payments on your website, you can check it out here. We will be discussing not only the ways how to accept crypto payments on your website but also certain important things you must be aware of.
Let’s begin the post on How to accept crypto payments on your website without any further delay.
Advantages Of Accepting Crypto Payments On Your Website
If you want your brand to grow, you can include crypto payments on your website. You can come up with a website that is working with new technology. The brand identity of your website can be increased with this step. You can also target a wider segment of society. More customers can be a part of your company as you will be viewed as a cutting-edge company that accepts and embraces new technologies. You can even enjoy financial rewards by accepting crypto payments on your website.
You can benefit from low transaction fees compared to the traditional methods of payment. These are some of the benefits of accepting crypto payments on your website.
- Lower transaction fees
- Better payment security
- Faster payments
- Wider reach
Let us now have a look at the drawbacks of accepting crypto payments on your website.
Disadvantages Of Accepting Crypto Payments On Your Website
The volatility of cryptocurrencies is something that questions the decision of accepting crypto payments on your website. You can’t even expect how the value of crypto may change the very next day. If you want to avoid this uncertainty, you can immediately exchange crypto to your preferred currency as soon as you receive payment.
The crypto market is volatile due to which there are trust issues in people. They may not fully trust to pay using crypto as an alternative to currency. If you are accepting crypto payments that means you are exposed to tax implications. You may be required to pay taxes. These are the disadvantages of accepting crypto payments on your website.
- Irreversible transactions
- Tax implications
- Risk or volatility
- Trust issues
As we have discussed the advantages and disadvantages of accepting crypto payments on your website, let’s see what all you need to accept crypto payments on your site.
What Are The Basic Requirements Before Knowing How To Accept Crypto Payments On Your Website?
Let us discuss some of the basic things that are needed before you learn about how to accept crypto payments on your website. The first thing is a wallet. You require a digital wallet wherein you can hold cryptocurrency.
This wallet enables you to purchase, sell, and hold various types of cryptos. You will get private keys that will keep your cryptocurrency safe and accessible. They will help you to enjoy seamless transactions by linking with other apps. If someone purchases anything on your website, crypto or the amount will be added to your wallet. You can now exchange cryptocurrencies for your preferred currency. You also need to have good communication skills to explain the benefits of adopting new changes and dealing with cryptocurrencies. You can ask your customers to contact you directly as the middleman will be removed if you enable transactions with crypto.
Now we have discussed a lot of information about accepting crypto payments on your website, you must have decided till now whether you want your website to accept crypto payments or not. If you are ready to accept them, let us read through the ways regarding how to accept crypto payments on your website.
Ways On How To Accept Crypto Payments On Your Website?
We have listed the ways on ‘how to accept crypto payments on your website’. You can try them out to accept crypto payments on your website.
Coinbase Commerce is a platform that allows websites to enjoy easy and quick crypto payments. It presently supports Bitcoin Cash, DAI, Bitcoin, Ethereum, Dogecoin, USD coin, and Litecoin. It allows you to anywhere set up a self-managed account. It has high-security options for protection against fluctuations in currencies.
Coingate has its footprints in more than 100 countries and supports over 50 local currencies. It accepts crypto payments in Bitcoin, Litecoin, Ethereum, and many other currencies. It is a versatile and fully integrated platform. There are no setup fees for Coingate.
BitPay is widely used by businesses to accept crypto payments. It has been a great choice to make payment for big industry players such as Shopify, Microsoft, etc. You can use it in 229 countries but the Fiat currency is limited to eight countries only. It accepts crypto payments in XRP, BTC, LTC, ETH, and ETC.
Crypto.com allows you to enjoy crypto payments seamlessly. It allows payments in more than 30 tokens. The platform doesn’t include any transaction or setup fees. Customers can easily use this application and connect an ERC-20 wallet or even use their Bitcoin wallets to make crypto payments.
Paychant allows you to host your eCommerce and accept crypto payments. The platform has a 1% transaction fee and allows you to opt for a free setup. It supports BTC, USDT, ETH, etc. You can go for instant conversion to fiat currency at this platform.
Blockonomics is a platform that focuses on Bitcoin and Bitcoin Cash. You can have a non-custodial merchant account on this platform. You can use the API free for the first 20 payments. There are no hidden charges on this platform and it only includes a 1% fee.
TripleA is a platform that is used to accept crypto payments and transfer local bank settlements. There is no free setup facility but the platform has API support. It supports ETH, BTC, ADA, etc. You can also request a particular cryptocurrency from the support team.
PaymentCloud is a platform that allows you to accept crypto payments. It has no setup fees. The platform supports ETH, ADA, XMR, BTC, etc. It has low processing costs with stable crypto conversion. You can also enjoy additional security features with this platform.
NOWPayments allows you to accept crypto payments with low fees. It has a processing option that can be implemented easily. It supports more than 100 cryptocurrencies and you can exchange them for your preferred currency. The platform is known to offer great value for money.
10. Accept Cryptocurrency Manually
Crypto payments are designed to make users enjoy easy payments. They are developed to remove the middlemen or third party’s involvement. If you want to accept crypto manually, you can do so easily. You only need to display your wallet address that customers can use to pay. You need to take care of who is paying what and also match it to the real customers. If you are ready to do so, you can simply sign in for a wallet and then paste its address on your website.
Once the customer views your address, they can easily make payments and quickly finish the transaction.
Here ends our post on “How to accept crypto payments on your website”. One can easily accept crypto payments on their respective websites without involving any unnecessary risks. These payments can easily be converted to fiat currency. You can provide valuable service to your customers without caring about volatility. If you care about your brand image, you can add value to it by accepting these crypto payments.
Frequently Asked Questions
Q1. Is It Possible To Accept Bitcoin At My Business?
A. You can accept Bitcoin at your business if it is legal in your country. You just need to have a cryptocurrency wallet and start accepting it.
Q2. Why Should I Accept Crypto Payments On My Website?
A. If you accept crypto payments on your website, you can receive various benefits. You can provide more options for customers, increase brand loyalty, low transaction costs, etc. are some of the benefits it provides to you.
Q3. Is There Any Disadvantage Of Accepting Crypto On My Website?
A. You can face certain disadvantages if you accept crypto payments on your website. Some of them are a distraction for the customers, price volatility, etc.