Bitcoin isn’t going away anytime soon. Everyday we hear new news about Bitcoin and how more and more companies are accepting Bitcoin as a payment method.
Visit some popular bitcoin forums and discussion threads on the web and you can find a lot of people sharing pictures of how they made food and service purchases with bitcoin.
One of the most common questions around the web is how you can start accepting bitcoin as a payment method on your website?
By accepting Bitcoins in your establishment, you’re signaling that you’re at the forefront of the technological development, attracting new customers and eliminating certain kinds of fraud and chargebacks.
Maybe you’re a blogger or sell courses on your website and need a way to accept Bitcoins. No worries, in this article, we’ll go through the best ways to accept bitcoin payments on your website.
Chances are that if you own Bitcoin, you probably already used Coinbase before. What most people don’t know is that Coinbase actually offers a solution called Coinbase Commerce that allows you to accept Bitcoins on your website.
Coinbase Commerce is the easiest and safest way for your business to start accepting digital currency payments.
Coinbase Commerce is a secure way to accept Bitcoin on your website. Designed and built by Coinbase, the world’s leading digital currency company. Security has been always their number one priority.
If you run an online e-commerce store and use Shopify you can accept Bitcoins through their integration easily.
Coinbase Commerce allows you to accept multiple digital currencies without any additional work. They are constantly evaluating and adding integrations with new blockchains.
Whether you are running a side project or a large business, Coinbase Commerce have the tools that will serve your needs. You can get started without writing any code. It is also highly customizable.
Another key feature is that Coinbase Commerce comes with an interactive and well-designed dashboard that allows you to view all the financial information needed.
Next up on our list is Bitcoin Pay. Unlike Coinbase Commerce, Bitcoin payments only take a few seconds and most transfers are confirmed immediately so you never have to wait for ten-minute network confirmations.
Their account setup takes about a minute and their intuitive, easy-to-understand interface will guide you through the process. It’s that simple.
The cost is 0.8% of the total transaction.
One of the best things about Bitcoin pay is their widgets and integrations. They support most of the e-commerce platforms out there such as Magento, Shopify, Opencart, and many more.
If you’re just running a blog, you can always use their copy and paste HTML widgets to accept Bitcoin on your website immediately.
There are no monthly commitments and Bitcoin Pay offers daily transfers to your bank, so you can receive your Bitcoins right away!
Coingate is a merchant payment gateway for 50+ cryptocurrencies. Let’s go over some of the key features of Coingate
- Enable your customers to spend 40+ Altcoins
- Reap the benefits immediately – it’s automatic!
- Altcoin payments are instantly converted to Bitcoin or EUR / USD
- Integration via ShapeShift.io
Credit card companies usually charge up to 3% of the transaction amount and there are various additional fees. With CoinGate you can accept Bitcoin payments for only 1% from the transaction amount and there are no monthly, registration, or support fees.
That is still a little higher than some of it’s competitors, but it’s a good option due to its amount of integrations.
With Coingate, you can withdraw your bitcoins directly to your Bitcoin wallet/address without any delays or fees.
Gocoin is another option for you to accept Bitcoin on your website. Gocoin is on a mission to make accepting Bitcoin safe and easy.
The platform makes taking Bitcoin and other blockchain currencies as easy as installing a plugin. Make more money by letting all of your customers pay. You receive money deposited to your bank account.
The company has already coded and implemented our payment processing on every major shopping platform. Their API is easy to work with too. If you run into any snags, you can contact their customer support that is avaliable 24/7.
Accepting Bitcoin is as easy as installing a plugin. If you don’t see your platform listed in their integrations page, just simply submit a request through their contact form and their engineering team will try their best to integrate it.
One of the best things about GoCoin is their easy to understand use API documentation which makes it a great fit for both non coders and developers.
Next up on our list is Coinify. This is our least favorite option because it is not as user friendly as the others mentioned above, but this can still be a viable solution to accept Bitcoin on your website.
Coinify offers flexible payout options, which is what makes it stands out as a bitcoin payment processor.
Here’s their settlement minimum and requirements:
Minimum and maximum payout amounts vary depending on the type of Payment Account.
Due to exchange rates for currencies and administration costs, some types of payouts may include a processing fee.
Please review all the details from the list below:
- SEPA settlement
Minimum transfer: 25 EUR
Maximum transfer: 15,000 EUR
- International bank transfer settlement:
Minimum transfer: 75 USD (or equivalent)
Maximum transfer: 20,000 USD (or equivalent)
Currency: View supported currencies
Fee: 40 DKK bank charge per transfer
- Paypal settlement:
Minimum transfer: 15 USD Equivalent
Maximum transfer: 1000 USD Equivalent
Currency: USD, CAD, EUR, AUD, GBP, MXP, NZD, DKK, SEK, NOK, HKD, ILS, JPY, PHP, PLN, CHF, SGD, TWD, THB, CZK, HUF
Fee : 7% charge
- Ripple settlement:
Minimum transfer: 100 USD
Maximum transfer: 10,000 USD
Fee: Ripple is 0.5% and is paid in Bitstamp issued USD
- Danish Bank transfer settlement:
Minimum transfer: 50 DKK
Maximum transfer: 100,000 DKK
* Available only in Denmark
The good thing about Coinify is that it doesn’t charge any set up or payment processing fees.
If you are running an offline business, there are a lot of other ways to accept Bitcoin offline and through a POS system, but these are the main ways you can accept Bitcoin and Cryptocurrencies online on your website. There are also popular WordPress plugins that you can take advantage of as well.
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