Never before has online buying been as complex as it is now. More and more eCommerce merchants are coming to understand and accept cryptocurrency as a legitimate method of online payment.
While everyone who uses cryptocurrencies should be extremely happy about this, it has left a lot of Shopify shops confused about how to accept cryptocurrency payments.
You’ve come to the correct spot if you want to learn how to accept cryptocurrency payments in your online business. We can assist you even if you are new to utilizing cryptocurrencies or taking cryptocurrency payments on Shopify.
Here is all you need to know to swiftly and effortlessly accept Shopify cryptocurrency to increase your brand recognition and revenue.
What is cryptocurrency?
A type of digital or virtual cash that may be exchanged from one person to another directly over the internet is called a cryptocurrency. Using cryptocurrencies has the following benefits for businesses:
- transactional speed
- small processing costs
- Zero chargebacks
- both regional and global transactions
- Conversion of payment into any fiat currency, such as USD or CAD.
The volatility of cryptocurrencies exceeds that of conventional currencies. Discuss the best strategy to manage bitcoin payments with your accountant.
Enable one or more of the following extra payment options from the Payments page in the Settings section of your Shopify admin to take cryptocurrencies:
- More than 20 cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, are accepted on Crypto.com. Please refer to these setup instructions for more assistance.
- Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies are all accepted via Coinbase Commerce. Additionally, Coinbase enables simple conversion to currency. Please refer to these setup instructions for more assistance.
- The 14 cryptocurrencies that BitPay takes are settled in USD and include Bitcoin, Bitcoin Lightning, Ethereum, and Dogecoin. Please refer to these setup instructions for more assistance.
- Ethereum, Binance Smart Chain, or Polygon tokens with liquidity on decentralized exchanges are accepted by DePay. DePay is a peer-to-peer payment gateway that enables instant conversion via smart contracts. Please refer to these setup instructions for more assistance.
- OpenNode allows payments made in either bitcoin or fiat for Bitcoin and Bitcoin Lightning. Please refer to these setup instructions for more assistance.
- Bitcoin Lightning settlement in USD is accepted by Strike. Please refer to these setup instructions for more assistance.
Any coin that is supported by their service can be accepted when you enable a payment option that accepts cryptocurrencies.
Payments made through these channels may still be subject to third-party transaction fees. For information on the fees levied, go to your store’s Shopify plan.
Your current gates are unaffected when you enable a new gateway. You can get in touch with the cryptocurrency gateway’s support team if you’re having problems signing up or making payments.
Cryptocurrency transactions may result in overselling in flash sales because of their longer settlement periods. For the optimal performance during flash sales, use a direct payment option like Shopify Payments.
For bitcoin payments made via Shopify, there are no automatic refunds. Through your payment gateway, you must manually reimburse money.
Does Shopify allow Crypto payments?
CoinPayments, BitPay, and Coinbase Commerce joined forces with Shopify in 2020. With this collaboration, Shopify businesses now have access to fresh, cutting-edge digital payment solutions.
When you sell on Shopify, you may take use of these cryptocurrency platforms to accept more than 1,800 different cryptocurrencies as online payments for your goods.
It makes perfect commercial sense for Shopify sellers to accept cryptocurrency payments from their consumers. Global eCommerce sales are expected to reach $5.69 trillion, according to Statista.
You don’t want to turn away clients in a market that is so cutthroat and expanding because you won’t accept their preferred payment option.
When you do, you give clients a poor experience, and they won’t come back to your store right away.
You may still verify all of your Shopify payments and continue to reap the wonderful marketing advantages even with bitcoin payments.
So, if you’re wondering how to accept Bitcoin or other cryptocurrency payments on Shopify, here’s how.
Accepting Crypto payments on Shopify
Why should you accept Crypto Payments on Shopify?
Start accepting bitcoin payments on Shopify as soon as you can if you’re a Shopify seller. The use of cryptocurrencies is expanding swiftly. They provide a dependable, safe, and practical method of online payment. You don’t want to fall behind since both consumers and businesses are using bitcoins as payment methods.
When you limit the methods of payment on your eCommerce site, you run the danger of losing consumers who are ready to pay. Every eCommerce merchant who wishes to succeed in a developing business should provide all widely accepted payment choices. It makes commercial sense for Shopify to accept cryptocurrency payments if eCommerce sales increase significantly this year. When customers and companies use cryptocurrencies for payments, transaction costs are low. Additionally, payments happen right away everywhere.
Businesses who accept cryptocurrency payments will receive all the advantages of adopting a decentralized currency. It’s a wise decision to choose one of the Shopify-approved crypto payment systems to meet your business’s demands. You’ll discover that setting up and activating these platforms on Shopify is simple. Thousands of Shopify retailers are taking use of these payment systems, including small enterprises. This is so that it may enhance client satisfaction and foster repeat business.
By allowing cryptocurrency payments online, you won’t be turning away consumers. Even transaction fees may be avoided, and security might be increased.
How to accept Crypto Payments on Shopify
Accepting cryptocurrency payments is now simple and quick with Shopify. You must activate your selected payment processor before accepting bitcoin payments from clients. The Payment Provider page is accessible from your Shopify admin panel.
From the Payment Providers page, you must activate one or more of the following cryptocurrency payment options:
- Coinbase Commerce
- BitPay
- CoinPayments.net
You will be able to take Bitcoin, Ethereum, Litecoin, and any other digital currencies presently supported for online payments after you’ve activated a payment method that supports them.
Your current payment choices won’t be impacted if you choose a new payment method to accept bitcoin payments. Your other payment methods and infrastructure will not change.
Keep in mind that every bitcoin payment gateway has a specific help channel for any problems that may occur.
Examples of Shopify websites accepting Crypto Payments
Blockchain Stuff
This Shopify store offers unique bitcoin and altcoin products with the ultimate aim of promoting the cryptocurrency lifestyle. For cryptocurrency enthusiasts, Blockchains Stuff provides a fantastic selection of Bitcoin and altcoin merchandise.
Customers of Blockchains Stuff have access to a wide range of items from various categories as well as different payment options that accept cryptocurrency.
Crypto Music Festival
The Crypto Music Festival sells clothes and accessories for the latest trends. Shoppers may buy attractive items that make them stand out during parties and concerts.
This is the place to come if you’re searching for fancy gear for your upcoming music event!
Crypto Thread
Fans of Bitcoin and altcoins may get unique stuff at Crypto Thread. Customers may quickly browse the collections of crypto products by selecting their preferred cryptocurrency or product category.
CryptoShirt.io
CryptoShirt.io aims to become the largest online marketplace for crypto-themed clothing.
To celebrate the cryptocurrency-powered digital revolution, this Shopify business offers cryptocurrency-themed T-shirts. Customers may quickly find the T-shirt collections they need at CryptoShirt.io by searching for coins.
Love Crypto
In order to promote cryptocurrency and the culture surrounding Bitcoin and other altcoins, Love Crypto sells and sends high-quality products.
Crypto Millionaire
To increase your interest or enthusiasm for cryptocurrencies, Crypto Millionaire provides apparel and accessories with distinctive cryptocurrency designs.
Crypto World
This Shopify business intends to inform the public about cryptocurrencies and act as a rising tide to raise all boats. At Crypto World, you may buy cryptocurrency-related goods, artwork, 3D-printed products, and miners. Additionally, there are classes held there. On this website, the online classes will soon be accessible.
Crypto Daddy
Crypto Daddy is an online clothes and accessories shop. Customers of this Shopify company may purchase high-quality printed items for their cryptocurrency collections.
Crypto Era
Once more, a website that sells items for crypto enthusiasts and provides a nice method to search the products based on different categories. Crypto Era encourages others to adopt cryptocurrency as a way of life and shares the excitement for it.
Final thoughts
Now you know how to accept crypto payments on your Shopify stores. It is your desicion to make whether or not accepting crypto payments. We believe that you can activate them on your Shopify shops easily. You may rapidly provide your clients a new payment option that can increase your revenue. If you are want to customize your online store, Magesolution is among the best choice you should consider. We have professional teams of experts who can offer you the Shopify customization service which helps meet your customers’ high requirements. Feel free to CONTACT US right now!
