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Many individuals approach digital currencies with at least a small grain of suspicion. As a result, the term “Bitcoin” is often associated with uncertainty.

However, as Bitcoin just passed its 11-year anniversary, it is safe to conclude that the first cryptocurrency is not going away anytime soon. In fact, Bitcoin is now used for a variety of transactions, with governments and big companies developing an interest in the coin in the past few years. As a result, a rising number of businesses, big and small, are embracing Bitcoin as a form of payment.

As cryptocurrencies like Bitcoin become even more popular, the option of accepting these currencies as a form of payment on your website is surely worth exploring. But is it just as easy to handle Bitcoin payments through your site as it is with fiat currencies? Almost.

Before we dive into the hows of this subject, we must make sure you understand what Bitcoin is and the advantages your business can enjoy from accepting Bitcoin payments.

 

What exactly is Bitcoin?

Bitcoin is referred to as a cryptocurrency, virtual currency, or digital cash and is a completely virtual form of money. It was launched in 2009 by a mysterious person known as Satoshi Nakamoto. To this day, the identity of this person still remains undiscovered.

Unlike traditional forms of cash, Bitcoin operates as a decentralized digital currency with no central bank or single administration. Apart from being decentralized, Bitcoin also attracts individuals with its lower transactional fees and added layer of security compared to government-issued currencies.

Each Bitcoin unit is essentially a computer file that is stored in a digital wallet, and every transaction is recorded on a public list known as the blockchain, allowing people to trace the history of each Bitcoin and ensure that they do not spend coins they do not own, make copies of coins, or reverse transactions.

What do businesses have to gain by accepting Bitcoin payments?

There are several reasons why accepting Bitcoin payments might be advantageous to your business.

For starters, anybody from anywhere on the globe can make payments with Bitcoin to a business that exists on the other side of the world. This means you can accept payments from clients no matter where they are, even those who don’t have access to credit cards, PayPal accounts, or any other traditional online payment method. This means your company can do business with unbanked individuals and still enjoy a great deal of security thanks to the blockchain.

Furthermore, Bitcoin purchases do not require any personal information, which appeals to many consumers who are hesitant to provide sensitive information online. This is especially critical in today’s context when digital privacy and data protection are under scrutiny.

Finally, because a third-party financial provider isn’t required, Bitcoin transaction fees are much lower than other traditional payment options. In this case, the blockchain becomes the middleman, but compared to financial providers, it is unbiased and approves or rejects transactions based solely on objective criteria that need to be met.

Integrate crypto payments

Accepting crypto payments via WordPress

To accept payments from your WordPress, you will need two things: a bitcoin processor and a payment plugin. We’ll outline the best options below:

Bitcoin processors

The first thing you need to consider is the platform that will process your payments. Here are the best tools:

Bitpay

This popular wallet and payment processor allows Bitcoin payments made via WordPress to be delivered straight to your Bitcoin wallet or bank account in your preferred currency. This service is quite adaptable since it can transmit funds to banks in over 38 countries and in a number of currencies, and it can also be incorporated into over 40 eCommerce platforms.

Bitpay enables users to pay using Bitcoin during the checkout process, paying the invoice to Bitpay using a predetermined exchange rate. Following that, Bitpay uses cutting-edge technology to convert Bitcoin into fiat currency while protecting the consumer from volatility concerns. Finally, the company will get a direct transfer into their bank account. Creating and managing a Bitpay account is also very easy, with their website providing loads of information on every step of the process.

Bitpay has also developed its own wallet, allowing customers to manage their blockchain funds in a single safe and open-source location. The wallet also allows users to do more with their Bitcoin and Bitcoin Cash, such as purchasing and selling Bitcoin right from the wallet. Individuals may also top up and manage a Bitpay card, which is accepted at all Visa shops and ATMs across the world.

CoinBase

CoinBase is an online wallet service and digital trading platform that accepts payments in a variety of cryptocurrencies, including Bitcoin. Your payments can be paid to your wallet or converted into your local currency and deposited into your bank accounts.

Setting up an account takes only a few minutes, but you will need to provide legal proof of identification in order to verify your account. After this process, individuals are free to send, receive, or trade a variety of cryptocurrencies, including Bitcoin.

Instead of relying on customers populating long forms with credit card details, paying with crypto is much easier, as the wallet pushes payments directly to your wallet. After logging in, you may share your unique bitcoin address to receive funds via your web browser or mobile device. You may choose whether or not your crypto address is verified as a Coinbase user by opting into Instant sends in your privacy settings. If you opt-in, other users will be able to send you money instantaneously and for free. If you opt-out, any sends to your crypto address will be kept on the blockchain.

CoinPayments

CoinPayments is a payment gateway that allows you to accept payments in Bitcoin and over 175 other cryptocurrencies. The service is dedicated to crypto payments, making it easy for businesses to accept digital currencies as payment.

CoinPayments also offers a variety of features such as plugins for popular shopping carts, an easy-to-use checkout system, and merchant tools to help you manage your payments.

Core Features :

1. CoinPayments has a 0.5% transaction fee, which is lower than most other payment processors.

2. CoinPayments offers an API for developers, which makes it easy to integrate with eCommerce platforms.

3. CoinPayments has extensive eCommerce integrations, making it easy to use for online stores.

4. There is no setup fee when using CoinPayments, making it a cost-effective option.

5. The invoice builder makes it easy to create and send invoices for payments.

6. The pay-by-name feature allows customers to pay by typing in their name rather than a long payment address.

MyCryptoCheckout

MyCryptoCheckout is a plugin that allows you to collect payments in various cryptocurrencies as well as transfer funds to a bank account without any additional charges. It supports more than 120 cryptocurrencies, making it a great choice for businesses that deal with a variety of digital currencies. Furthermore, there are no additional costs involved with using this plugin, making it an affordable solution for businesses of all sizes.

Core Features

Customizable payment buttons: you can choose the coin, amount, and description for each of your payment buttons.

Fiat settlement: MyCryptoCheckout can automatically convert your selected coins to fiat or stablecoins. This allows you to connect to exchange and instantly withdraw your earnings.

Donations widget: easily create a donation widget for your website using our shortcode generator.

Tor support: MyCryptoCheckout supports Tor connections for increased privacy.

MyCryptoCheckout supports 0-confirmation transactions for some coins, allowing you to receive payments immediately.

MyCryptoCheckout allows you to conduct peer-to-peer transactions, so you can exchange goods and services without having to go through a third party.

CoinGate

other crypto payments

CoinGate accepts over 45 cryptocurrencies and sends funds from your website to your Bitcoin wallet. Because this platform does not have its own Bitcoin wallet service, you will need to register with one separately.

After you have chosen your external wallet, you need to create an account with CoinGate. When a shopper wants to buy something with Bitcoin, they need to select the product, then choose CoinGate as their payment method.

Core Features:

  • CoinGate allows merchants to receive payments in more than 70 cryptocurrencies, making it a very versatile payment gateway.
  • CoinGate invoices are calculated in real-time, using the latest cryptocurrency exchange rates.
  • CoinGate offers a sandbox environment for testing its services prior to going live. This allows businesses to try out the payment gateway without any risk.
  • CoinGate is one of the few payment gateways that offer no risk of fraudulent chargebacks.
  • In some cases, customers can request refunds on the invoice page themselves. This allows for an easy and convenient refund process for buyers.
  • Lower transaction fees

GoUrl WooCommerce Bitcoin Payment Gateway

The GoUrl WooCommerce plugin allows you to take Bitcoin and a number of other cryptocurrencies as payment. You can choose from three payment integration methods: direct, manual, or automatic. With the direct integration method, customers pay you directly on your site’s pages. The manual integration method requires customers to manually enter the payment details on a separate page. The automatic integration method automatically processes payments when orders are placed.

Additionally, you can choose to subscribe to GoUrl for monthly recurring payments or use the white-label option to have your own branding on the payment gateway pages. GoUrl does not transfer Bitcoin into cash; it simply sends payments to your Bitcoin wallet account.

Core Features:

  1. The plugin is very secure and has a low transaction fee.
  2. There is no need for a bank account or monthly fees.
  3. It is a global payment gateway and is accepted in many different countries.
  4. There is no chargeback risk with this plugin.
  5. It is very easy to use and can be integrated into your website with just a few clicks.
  6. The plugin provides a real-time exchange rate so you can always be sure you are getting the best deal.
  7. Transaction Fees from 0%
  8. Accept cryptocurrency payments

Payment plugins

After you’ve decided on an accept bitcoin payment, you’ll need to install a WordPress plugin on your website. There are several plugins available:

CoinGate for WooCommerce

CoinGate for WooCommerce is particularly intended to start accepting bitcoin payments, but it also processes over 70 other popular digital currencies.

This easy-to-use plugin may be installed immediately through WordPress. After you install the plugin, you’ll see a Bitcoin option on your WooCommerce store’s payment screen. When you get the payments, you will be able to instantly convert them into local currency and deposit them into your bank account or PayPal.

This plugin is completely free, totally automated, and simple to install. Remember that you will need an account with CoinGate to use the plugin.

NowPayments Plugin

NOWPayments is a crypto payment gateway that makes accepting payments in cryptocurrency easy without holding any of the assets yourself. The plugin can be easily installed on websites and social media accounts and offers low transaction fees and seamless processing. In addition to accepting payments in a wide range of supported cryptocurrencies, the plugin allows users to buy digital goods using crypto wallets.

This makes it easy for anyone to start accepting cryptocurrency payments on their website or online store. Whether you’re looking to start accepting crypto payments or want to add another payment option to your eCommerce store, NOWPayments is the perfect solution.

Core Features:

  • NowPayments Plugin is a user-friendly platform that offers users a wide range of features.
  • It has a very low transaction fee of 0.5%.
  • It offers API support, which makes it easy for users to integrate it with their eCommerce stores or other platforms.
  • Easy integration and setup
  • NowPayments Plugin also offers a Crypto-to-Fiat-to-Crypto conversion facility.
  • Users can also avail of the ChangeNOW automatic conversions.
  • It accepts multiple cryptocurrencies, including Bitcoin, Ethereum, Litecoin, etc.
payment processing with cryptopay

CryptoPay WooCommerce

Receiving payments in cryptocurrency is now easier than ever with CryptoPay WooCommerce. With this plugin, you can simply accept bitcoin payments as well it accepted payments in cryptocurrencies directly through MetaMask, a crypto wallet. This payment method is not only convenient but also helps you save on commission fees.

Since there is no need to go through a third-party processor, you will only be charged the “gas” fee that blockchain networks require. As a result, you can keep more of your hard-earned money. In addition, CryptoPay WooCommerce is a great way to show your customers that you are up-to-date with the latest payment trends.

Core Features:

  • You can create a QR code for each wallet and receive payments by scanning the QR codes.
  • You can set up the plugin to automatically convert received payments into the currency of your choice.
  • You can keep track of all your transactions and payments in the ‘Transactions’ section of the plugin.
  • The CryptoPay WooCommerce Plugin is fully compatible with all major WordPress themes.
  • The plugin is regularly updated with new features and enhancements.
  • The CryptoPay WooCommerce Plugin is easy to install and configure.
  • The plugin allows for a wide range of cryptocurrencies to be accepted as payment, including Bitcoin, Ethereum, Litecoin, and more.

Bitcoin Payments for WooCommerce

Bitcoin Payments, created by TripleA, is another WordPress plugin that works in tandem with WooCommerce. It connects your WooCommerce store to your Bitcoin wallet. Each transaction will be quickly alerted to both you and the buyer, and you will be able to select your own exchange rate.

This platform, which supports both physical and digital currencies, does not charge transaction fees and is also free to download. All you need to do to start receiving bitcoin payments is to provide the public key of your wallet and email address and open an account with TripleA.

Blockonomics Bitcoin Payment

This free, stand-alone plugin supports all major Bitcoin wallet providers and may be used without the requirement for an e-commerce plugin like WooCommerce. The plugin calls itself the only bitcoin payment gateway that enables full decentralization. Payments are made to your Bitcoin wallet, which is supported by all major wallets. You don’t need an API key or documentation approvals to accept payments, and the plugin also supports all major fiat currencies. Moreover, the first 20 payments don’t charge a fee!

Wrapping Up

Cryptocurrency is the future. Even if you don’t believe in it, your customers do. By giving them the freedom to choose how they want to pay for your products and services. In addition, transitioning to taking cryptocurrency payments in WordPress will help you stay ahead of the curve in innovation and using cutting-edge technologies like the blockchain concept. In this article, We hope you find these plugins helpful and help you grow your business.

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