How to accept Bitcoin on your ecommerce store

Cryptocurrencies are increasingly accepted as new online payment methods, and now more than ever it is essential to have the ability to accept Bitcoin on your ecommerce store.

Bitcoins how they work

Bitcoins and generally all other cryptocurrencies are the latest generation of gateway payment methods for selling and buying services, products and goods of all kinds both in local shops and online in ecommerce shops. Unlike credit cards or cash, Bitcoin 's decentralisation facilitates secure, instant and low-cost payments.

Therefore, accepting Bitcoin in your eCommerce shop could bring numerous advantages. Moreover, Bitcoin's underlying technology can help merchants manage their supply chains more efficiently.

Although Bitcoins remain a volatile cryptocurrency, increasing them as a payment method could greatly benefit your eCommerce shop. For instance, this virtual currency can increase the convenience of processing payments and thus close the order, without leaving the shopping cart pending.

And this could help the ecommerce store attract more customers, thus increasing its profitability. Moreover, Bitcoin payments require no training or experience on the part of customers.

But how do you accept Bitcoin payments in your eCommerce shop? Here's how.

How to set up a Crypto Wallet

As we said, Bitcoins allow an ecommerce operator to receive and process payments from customers without intermediaries as a peer-to-peer payment method. But a cryptocurrency wallet is required to accept Bitcoin payments.

A Bitcoin wallet stores cryptocurrency. And setting up a cryptocurrency wallet is easy because you can download it to your computer or smartphone. In addition, you can use a hardware wallet that is usually offline.

A digital wallet has unique features. However, choose a wallet that you can use conveniently and securely. Also, choose a Bitcoin wallet whose provider allows you to download and install updates according to your preferences and needs.

How to Integrate a Bitcoin Payment Processor

If your eCommerce platform has existing integrations setting up a Bitcoin payment will be easier as for example in our CMS. For example, if you run a Cuborio eCommerce shop, you can use options similar to those found in Magento such as CoinGate and BitPay or on Shopify where you can use Dwolla, Coinbase and BitPay.

However, our advice, as simple as it always is, is to research the best Bitcoin payment processors available on the market to determine the best option for your eCommerce shop. For instance, finding a Bitcoin processor for some eCommerce shops is like looking for the integration in its market. You may need to browse help documents on other platforms to understand how to take Bitcoin payments.

So, if you are not sure how to integrate a Bitcoin payment processor contact us now for advice.