Many of us are thinking about this as the demand for cryptocurrency grows. If you want to accept Bitcoin or other cryptocurrency payments on your site, ensure sure everything is set up properly.
Should Your Website Accept Bitcoin?
You must first settle this crucial issue. If you’ve already opted to accept cryptocurrencies as payment, the processing of such transactions is straightforward.
Even with its enormous growth, crypto continues to be a divisive topic. One prominent skeptic exists for every crypto evangelist. Accepting crypto currency payment processing on your website might be a scary option if you don’t completely grasp how it works (which few of us do) and if your consumers don’t utilize it.
What You Need To Know To Ensure Bitcoin And Other Cryptocurrency Website Compatibility
Since crypto is made for the 21st century, it doesn’t take much effort to begin taking Bitcoin on your site.
To begin accepting cryptocurrency payments on your website, you’ll first need to meet a few requirements that are universally applicable.
1. The Fundamentals
You need a “wallet” to store your cryptocurrency. Similar to the iPhone “wallet” software you already have, but tailored to cryptocurrency.
Storing, exchanging, and even purchasing Bitcoin, Ethereum, and Tether are all possible with a cryptocurrency wallet. A private key is generated for you, which you may use to keep your cash secure; it also integrates with other applications to facilitate smooth financial dealings.
If customers buy cryptocurrencies via your website, you may do anything you’d want with the proceeds, including converting them into fiat cash.
2. Effective Interaction
Communication is essential to successfully adopting a new payment option, as it is with every other aspect of life.
If your website accepts Bitcoin, you must inform your clients of the advantages of using Bitcoin. Show them how the improvements will improve their lives and make sure they know about them.
Make the most of this chance to advertise your company. If you do a good job of spreading the word, more customers will choose to pay with cryptocurrency, and your business will gain devoted followers as a result.
3. The Role of Platforms and Integrations
The platform your website runs on will have a major impact on how you incorporate cryptocurrency payments. You may utilize many plugins for speedy installation on popular e-commerce systems like Shopify, WooCommerce (WordPress), and Magenta, among others.
Most Bitcoin payment solutions, if you can’t locate the plugin you’re looking for, will provide alternatives like payment buttons, custom integration, and invoicing.
There are certain websites where these plugins wouldn’t be the ideal choice, but for the overwhelming majority of sites, they work well. You can ask for help and accept Litecoin payments easily with BitHide.
Clients should be encouraged to get in contact directly for Bitcoin payment options since crypto was developed to enable direct financial transactions between two parties.
Crypto Payment Processor Criteria
Charges
Transaction fees—how much? Bitcoin transaction costs are cheap, but you want to be sure you’re receiving the best deal.
Regularity
Some crypto payment processors handle payments everyday, while others take three to five days. Faster company finances are best with ACH payments.
Supported Countries
Choose a payment processor that supports the nations you do business in due to global regulations.
Assistance
Customer assistance is essential while discussing tech. If setup or service fails, you want to talk to someone promptly.
Security
Business and consumer security are crucial. Maintain your site and use a secure payment processor. Install upgrades and make encrypted wallet backups.
