Activating Bitcoin payments on your website or online store is a new strategy that has proven effective in attracting customers, especially after the continuous increase in the trading volume of digital currencies.
With this strategy, you will give your customers the freedom to choose to purchase your products and services in the way that suits them best. Either by credit cards or resorting to the more private option, which is payment by digital currencies.
In this article, we’ll cover what the most popular cryptocurrency is, Bitcoin, and why you might want to add it as a potential payment method. We will also explain how to receive Bitcoin payments, and then finally we will show the best additions that enable you to activate this strategy in your online store.
Bitcoin and digital currencies
Since Bitcoin was launched as the first digital currency, it has been associated with illegal or unethical dealings by a large portion of the digital public. However, the popularity of Bitcoin has not been affected, which has been continuously rising since its launch date until now. Today, the Bitcoin audience has exceeded 100 million users around the world, according to the latest statistics .
You can ask yourself why the public might want to embrace this currency despite the negatives known about it? The answer can be summed up in the privacy of digital currencies.
A large portion of the digital public today prefers to deal more privately in buying, selling, etc., and therefore digital currencies are the most appropriate option in this case.
Whether you agree or disagree with Bitcoin, you should know that the cryptocurrency’s fanbase has grown tremendously in recent years. Taking into account that shopping online has become the popular idea today for users with the development of technology, so it is wise to consider making Bitcoin payments available on your website or online store to have a share of this huge audience!
Benefits of Bitcoin
Despite the negative aspects of Bitcoin and digital currencies as a whole, it has many attractive benefits that increase public interest in it. Today, digital currencies have become an attractive option for many online merchants and consumers over the traditional option of dealing in the country’s local currency.
Among the benefits of using Bitcoin:
- Security: There is no need to worry about sensitive personal information such as credit cards while purchasing online.
- Digital currency: Dealing with digital currencies away from the restrictions imposed by tangible currencies.
- Lower fees: The fees for purchasing products are lower for visitors and this will increase the target audience.
- Ease: The currencies are stored on the wallet after each payment is completed by the buyer.
- Instant presence: Funds will be instantly present in the store owner’s personal wallet after any successful purchase.
- Preventing fraud: It is difficult to hack wallets or transactions made using Bitcoin, and this reduces fraudulent transactions.
Disadvantages of Bitcoin
With all these advantages, digital currencies such as Bitcoin are also not free from disadvantages such as:
- Currency price fluctuations: Cryptocurrency prices fluctuate constantly. If this concerns you as a website or online store owner, we do not advise you to activate payment in digital currencies on your website.
- Transactions are irreversible: it is impossible to recover the currencies paid to the site or online store. Here we advise that if your goal is to gain customer satisfaction by recovering amounts paid to them, then Bitcoin payments in this case may not be the best option for you.
advice
Here we advise you not to completely abandon the payment methods you currently accept and convert directly to Bitcoin payments. But all you have to do is add the option to pay by Bitcoin along with the available traditional options such as credit cards or PayPal. Thus, it has provided customers with an additional option to pay with Bitcoin for those who love privacy, in addition to the regular payment options for consumers.
Before receiving Bitcoin payments
First, you will need to create a digital wallet to start activating Bitcoin payments on your website or online store and accepting Bitcoin payments. This digital wallet will help you receive digital currencies paid by customers and store them in your account.
There are some digital wallets that convert Bitcoin payments into regular fiat currencies and store them in your account. You can also use the wallet to send currencies to another wallet or make online purchases and other features, and one of the most important digital wallets is the Blockchain wallet .
The best add-ons for activating Bitcoin payments
These additions will help you provide customers with the most private option to pay using digital currencies such as Bitcoin. Thus, you will not depend on many parties to complete your transactions correctly, such as credit cards (Visa, MasterCard), PayPal, or dealing with banks, and so on.
NOWPayments WooCommerce Add-on
We start today’s list of add-ons with the add-on that is most integrated with WooCommerce, which is the NOWPayments WooCommerce add-on. It is an addition that allows you to accept payments in more than 100 popular digital currencies such as Bitcoin, Ethereum, Litecoin, and other commonly used currencies.
All you have to do is enter the NOWPayments WooCommerce add-on page , then download the add-on file and upload it to your website or store on WordPress, then activate the add-on.
With this add-on, you will be able to receive digital payments, as the add-on securely transfers the payments to your digital wallet. The features of the addition are:
- The add-on is available for free and is ready to use immediately after installation and activation.
- The possibility of receiving a large number of digital currencies.
- Transactions are fast and safe for you and your customers.
- The add-on is easily installed and activated.
Activate the NOWPayments add-on to receive Bitcoin payments
To start working with the add-on, follow these simple steps:
Create a free account on the official website of the extension, as in the following image from here .
After creating the account and activating it from the activation message that you will receive via email, the following interface will open for you.
All you have to do is fill in the data as shown in the picture.
Then you will go to the WordPress control panel to install and activate the add-on , by searching for the add-on by typing “ NOWPayments ” in the add-ons search box and activating it after installation.
After activating the add-on, go to the WooCommerce settings to activate the add-on as in the following image.
Browse the API code on the extension’s website, then add the security code in the (IPN secret) box and save the settings.
How to show the customer the Bitcoin payment option
After the customer chooses a product in your online store, he will click on the “Add to card” button.
Then he will click on the “Proceed to checkout” button. Through this button, customers will proceed to filling out the required details and accessing the payment options available on your website or online store.
After choosing Bitcoin from the available options, the customer will be able to access the Bitcoin wallet address to which the funds will be sent.
Thus, the process of activating Bitcoin payments has been completed successfully on your online store or website, and financial transactions will be completed successfully!
Add Digital Paybox
This is a distinctive addition that website and e-store owners use to activate the service of receiving digital payments. By adding Digital Paybox, you will be able to create a payment box (Paybox) that allows customers to choose the payment gateway that suits them from among the various payment gateways.
In addition, the addition will enable the activation of the Bitcoin payment gateway (BitPay), which will enable you to receive Bitcoin payments from customers. Finally, the add-on will send a mail to the coins when a digital transaction becomes available for the product or service requested by the customer.
In short : Adding Digital Paybox will help you create integration between regular payment gateways such as PayPal, Skrill, etc., and digital payment gateways to accept Bitcoin payments on your website or online store.
Advantages of the addition
- Supports different payment gateways.
- Some use it on donation sites so that the customer chooses the appropriate price for him.
- Cons of the add-on:
- Used for digital transactions only.
Add Mollie Payments for WooCommerce
This addition is intended for store and Commerce owners who want to integrate a means of payment in digital currencies and make it available to customers. By adding Mollie Payments for WooCommerce, the store owner will be able to make payment available in Bitcoin, as the add-on allows its users to integrate many payment methods through this add-on only and without activating other add-ons.
Through this addition, payment methods will be provided by credit cards and bank transfers in addition to Bitcoin payments. The most important information about the addition can be summarized as follows:
- The add-on combines many features from other add-ons and is therefore an integrated add-on.
- The ability to accept recurring subscriptions if the store contains packages or purchase plans.
- There are fees for each transaction that vary depending on the payment method and the country of origin of the currency.
While clarifying that the addition is free, a fee is charged for successful information.
Add WooCommerce Stripe
Stripe is a very popular payment gateway, and many users prefer it over PayPal.
By adding WooCommerce Stripe, you will help website and e-store owners accept payments not only from credit cards, but also accept Bitcoin payments and Apple Pay gateway payments, clarifying that the features of the addition are as follows:
- There are many customization options for customers in completing financial transactions.
- It supports all types of credit cards, Visa or MasterCard, in addition to Bitcoin payments.
- Apple Pay is a paid feature.
It should be noted that the addition is free and allows the acceptance of paper payments from credit cards and digital payments as well, such as Bitcoin payments. But if you want to enable the Apple Pay option, you will need to purchase the paid version of the tool for $59.
Add Blockonomics Bitcoin Payments
It is a distinct and independent add-on that allows you to accept Bitcoin payments on your website or online store. It supports all trading platforms or digital wallets on which you will receive payments, and you can also use it with WooCommerce effectively.
- You receive Bitcoin payments directly and securely to your digital wallet.
- Supports all digital currency wallets.
- You do not need proof documents.
- Supports major fiat currencies such as the dollar, the euro, and others.
- The disadvantage of the addition is that its settings may be a bit difficult for beginners.
Warning: The purpose of the article is not to encourage trading in digital currencies due to their many negative aspects, but rather the article is directed to website and online store owners who want to add a way to accept Bitcoin payments for the purpose of targeting a mass base that loves digital currencies as a means of payment.
In the end, activating Bitcoin payments on your website or online store is a great option. It allows customers to maintain their privacy in terms of personal information and sensitive payment information. So enabling Bitcoin payments on your site will reduce the risk of fraudulent financial transactions.
With the additions that we have presented, you will be able to activate Bitcoin payments and start accepting those payments from customers, which in turn will increase the fan base of your site. It will also gain your customers’ trust because you will allow customers to choose the method that is most suitable for them.
