As cryptocurrency continues to grow as a safe and convenient method for making everyday purchases, online merchants of all sizes and types have begun offering customers the option to pay for goods or services with crypto. Starting to accept Bitcoin payments for your online business is probably much easier than you think. BitPay provides easy integrations and convenient offramp options for ecommerce businesses. Learn how to get started with our guide on crypto and ecommerce.
Benefits of ecommerce crypto payments
The first natural question you probably have is how does accepting crypto payments benefit my business. There are a number of ways an integrated crypto payments solution like BitPay can give your online business a lift, even if you know absolutely nothing about cryptocurrency.
Never hold crypto
Accepting crypto payments doesn’t subject you to the price volatility of cryptocurrency. In fact, ecommerce businesses never even have to touch crypto. Even though you can accept crypto payments on your website, crypto payments can be settled in fiat currency and deposited into your bank account the very next day. If your business did want to hold onto its crypto, you also have the option to receive payouts in your preferred cryptocurrency.
No risk of fraud and chargebacks
Because cryptocurrency transactions are immutable, meaning irreversible, paying with crypto almost completely eliminates fraud and chargebacks.
Lower transaction fees
When a customer makes a crypto transaction, you’ll typically pay less than typical credit card transaction fees.
Customers can pay with any wallet
BitPay supports over 100 of the top cryptocurrency wallets, with more added all the time.
Top coins accepted
Customers can seamlessly spend more than a dozen popular cryptocurrencies, including payments on the Lightning Network.
Reach a global audience
Expand your global reach by accepting instant and secure payments from customers in 229 countries and territories, doing away with costly cross-border payment or wire fees.
Fast settlement in fiat
Ecommerce payments received in crypto are deposited as fiat directly to your bank account the day after the transaction. Receive funds in U.S. dollars, euros, pesos, Canadian dollars, pounds and many other top global currencies.
Compliance and regulatory-focused
BitPay offers a turn-key compliance program, and is regulated by the Financial Crimes Enforcement Network (FINCEN) and states, following all Financial Action Task Force (FATF) recommendations.
Best-in-class payment conversion
BitPay’s payment protocol provides a better user experience as well as reliable performance for your customers.
Start accepting ecommerce crypto payments within hours. Plug-ins, apps and open code libraries are available for most popular ecommerce platforms.
How to accept crypto on your website with BitPay
We’ve covered how accepting cryptocurrency payments can help attract new business and improve your bottom line without taking on any added risk. Now let’s talk about how to get your ecommerce business plugged in and ready to go using BitPay. Setup is simple and headache-free, and can be completed in hours or days, rather than weeks. Companies can offer customers the option to pay with cryptocurrency directly into their native checkout experience. Your exact integration will depend on your current ecommerce platform.
Ecommerce integrations and open-source plugins
BitPay develops and maintains plugins and with several popular ecommerce platforms, which require no coding or crypto knowledge to implement. Just connect your BitPay account and you’re ready to start accepting crypto payments. Click on your ecommerce platform for full implementation instructions:
Code library integration
BitPay also offers code libraries for the most popular programming languages including Java, PHP, and Node.js. Click on your preferred coding language for implementation instructions:
Whether you’re selling watches in Walla Walla or kayaks in Kathmandu, BitPay’s robust suite of plugins and lengthy roster of storefront integration partners puts a safe, flexible solution enabling your ecommerce customers to pay with crypto.
Ecommerce businesses already accepting crypto
BitPay offers an industry agnostic payments solution to ecommerce merchants all over the world, enabling them to accept Bitcoin or other cryptocurrencies using their existing payments infrastructure. Some of the biggest ecommerce businesses are already accepting crypto with BitPay.
APMEX is a leading online retailer of precious metals, offering a wide selection of gold, silver, platinum, and palladium products with secure storage and IRA options.
Shop.com is a comparison shopping site that lets customers compare products, prices and shipping options, offering tools and expert advice to help people become more informed shoppers.
Jomashop is a top online retailer offering low prices on fashion accessories, from watches and handbags to sunglasses, clothing and beauty products.
The one-stop online electronics shop, Newegg offers great deals on everything from laptops and computer parts to stereo equipment and TVs.
While some predicted movie theaters would be a soon-forgotten relic, AMC Theatres brought innovation to the industry. Movie fans can purchase tickets and merchandise using crypto within the AMC app or on its website.
Why is now the time to start accepting crypto payments? The 2024 Bitcoin halving!
The upcoming 2024 Bitcoin halving event is expected to spur a BTC price bull run. When prices rise, BitPay has historically seen a major jump in Bitcoin spending. Merchants that accept crypto payments may very well benefit for the increased spending.
Now is the time to prepare and integrate BitPay into your ecommerce website!
Interested in using BitPay for your business? Contact us today to learn more about our crypto payment services.