Back in time, WordPress was only used as a blogging platform, but now it has become the most widely used platform to create websites. It is an open source platform which allows you to create almost every type of site. If you have an ecommerce, then the first issue faced is accepting the payments. Though WooCommerce is a plugin which allows the WordPress users to create and manage their ecommerce effectively, there are still many site owners who still don’t use it. In addition to that, many different plugins let users accept payments via numerous payment gateways including PayPal, Stripe and many others.
However, there could be GeoLocation barrier where your customers may not be able to pay you using the same payment gateway. In that case, you need to provide an alternative currency which can be any cryptocurrency. One of the most popular and oldest cryptocurrency is Bitcoin which is accepted my various websites and stores.
Bitcoin can be transferred to your bank account or can be retained in your wallet. Another great thing about Bitcoin is that their prices are steadily increasing and provide you with huge profits in future. If you are wondering about the process to allow your website to accept Bitcoin, then below we mention the same.
To begin accepting Bitcoin, the first thing you need is a Bitcoin wallet. There are different that wallets can be used on mobile devices as well as on desktops. You need to visit their website and choose the wallet as per your needs. Make sure to choose the right wallet as your payments will be directly affected by it.
The next thing you need is a BitPay account. You need to have a BitPay account to accept and transfer Bitcoin to your bank. Firstly you need to visit the BitPay website and press the Sign Up button. Here you will be asked about the type of account you want to choose. To accept payments, you need to select the Business Account and click on the Sign Up button.
Once you click on the button, you will be redirected to the sign up page where you need to enter basic information like your organisation name, your name, email address and a secure password. After entering all the details, you need to click on the Create Account button, and your BitPay account will be created.
In the next step, you need to verify your account to prove that you are a legitimate user. The BitPay will send a verification mail to your given mail which you need to open and verify. Afterwards, you need to provide your business details, and in the last section, you need to provide your Bitcoin wallet details where you will be accepting the payments. Once you have entered the necessary information, you can use your account to accept Bitcoin payments. There are two different methods of allowing your website to accept payments and we are going to explain both the processes.
#1 Via BitPay
There is no compulsion that you need to have plugins to accept payments on your website. You can directly integrate the BitPay account with your site and allow Bitcoin payments. The process is uncomplicated, and you don’t need any coding knowledge as well.
In the first step, you need to login to your BitPay account and open the Payment Tools tabs from the dashboard. Here you need to press the Payment Buttons section which will open a new page.
Afterwards, you need to provide some details to create a checkout button. You can enter the merchant name, the checkout description, and default price. Make sure to specify the currency you want to display in the checkout button.
Once you are done with that, you need to enter the server IPIN, the browser redirect URL and the email confirmations where you will receive confirmation upon every successful payment. After entering all the information, you need to click on the Generate button, and you will be displayed the Bitcoin icons with different sizes. Click on the button size you want and copy the code provided by the BitPay.
After copying the code, you need to head over to your WordPress admin dashboard and open the Posts> All Posts page. Here you need to find the post where you need to add that payment button and press the Edit button. Open the Text tab and paste the code which you copied earlier. Once you have pasted the code, you need to press the Save or Publish button to keep all the changes.
This was the complete process of accepting payments via BitPay button. There is another plugin method that you can use to fulfil the same purpose as well.
#2 Accepting Payments Via WooCommerce
WooCommerce is the used by most of the WordPress ecommerce owners. If you are among those users, then you should follow this method where you need to install the external plugin.
In this method, you need to activate the BitPay for WooCommerce plugin. All you need to do is head over to your WordPress admin area and open the Plugins> Add New page. Search for the plugin and press the Install Now button. Once the installation completes, you need to click on the Activate Plugin link, and the plugin will be ready to configure.
After activating the plugin, you need to navigate to the admin dashboard and open the WooCommerce> Setting page. You can see different tabs, but you need to open the Checkout tab and click on the BitPay button.
In the API Token section, you need to click on the Get a Pairing Code link where you will be redirected to the BitPay website. In this page, you need to press the Add New Token button and provide a name to the token. Once you have provided the label, you need to click on the Add Token button, and you will be provided with a pairing code.
Copy the code provided by the BitPay and paste that code in the plugin’s settings page. Upon pasting, you need to click on the Continue button, and the plugin will automatically integrate your BitPay account with your website. Now you can visit your site to check whether you newly added Bitcoin button is working or not.
This was the complete process of accepting Bitcoin payments in WordPress. If you are unaware of the benefits of accepting Bitcoin, then below we mention some of the best reasons.
#1 Lower Transaction Fees
If a merchant is receiving payments via PayPal or credit or debit cards, then there is a fixed amount that the website owner has to pay as transaction fee. In case of PayPal, the transaction fee is 6% which is a significant amount for a small business venture. If you accept payments via Bitcoin, then you are saving that 6% amount. This low transaction fee is the main reason why smaller businesses are moving towards accepting Bitcoin.
#2 Quick Transactions
Sometimes the credit card merchants can hold the money for days which can stop your business’ cash flow which is not the case with Bitcoin. The payment you receive is the final payment and will be credited to your wallet instantly. There is no waiting time, and you can transfer the money to your bank in no time.
#3 One Currency for Every Country
Many countries have their own currency, and their values may differ as per their currency. The user may have to pay a currency conversion charge and to save that extra money; they may not prefer considering doing business on your site. However, if you use Bitcoin your default currency, then you are removing this barrier and will be saving the additional currency conversion fees of your users. By doing this, you are practically removing all the borders which were hindering you from accepting international payments.
#4 No Chargebacks
A chargeback is a process when the credit card companies reverse the amount to the credit card holder’s account after they have issued a ticket against the merchant. There are some cases when the customers may issue a false complaint, and credit card company may still reverse the amount which is a major problem for small businesses as they may have only limited resources. This issue is easily solved with the Bitcoin payment method. Once the customer has made the payment, then there is no chance of chargebacks, and the amount will stay in the wallet of the business owner. The only way the amount can be reversed is only when the owner manually pays the customer.
Accepting payments via Bitcoin is surely a good thing as it offers tons of benefits and may also act as an investment for your business. We have mentioned two methods to integrate your website with your BitPay account. You can choose any of the method that suits you the most and start accepting Bitcoin.