Nowadays, cryptocurrencies as well as ecommerce cryptocurrency are slowly making their way into mainstream payment methods. Hence, no matter what you are thinking about them, you should take them seriously if your customers do. In fact, over 46 million people claimed they would use cryptocurrencies to make transactions, according to a research. Not only that, approximately a quarter of cryptocurrency users are already using their coins to pay for groceries, online gaming, streaming, etc. This is the reason why you should consider accepting Shopify cryptocurrency payments for your store. Now, let’s read this post of AHT Tech to see how to accept cryptocurrency payments for your Shopify stores.
>>> Read more: Top best cryptocurrency payment gateways for your ecommerce sites
The innovation and importance of Shopify Bitcoin integration
“Bitcoin” is a term that is no longer unfamiliar. To put it plainly, it is a type of digital currency that may be used for a lot of purposes. More crucially, it is entirely encrypted. The transaction is completely safe and secure thanks to blockchain technology. In particular, bitcoin’s transactions take place in cyberspace. This means that all transactions are conducted from hand to hand, or more precisely, from account to account, with no intervention from a third party. Moreover, bitcoin is not under the jurisdiction of any institution. The mining community must approve the verification of transactions.
Additionally, Shopify revealed a Bitcoin payment option for online businesses a few years ago. Shopify expanded its reach and was the first to accept Bitcoin payments. At the same time, thousands of people were interested in learning more about Bitcoin. It is just a matter of time before all internet retailers accept digital currency payments. Plus, Bitcoin and Blockchain have laid the groundwork for a new digital payments system, as evidenced by general tendencies in industrial development. Now, let’s take a look at the benefits and improvements that Bitcoin brought to the eCommerce business.
Why you should accept Shopify cryptocurrency
1. Reach more new larger markets
First and foremost, the most outstanding reason that you need to accept Shopify cryptocurrency for your store is access to larger markets. Payments made with cryptocurrency are not bound by any country or boundary. Hence, it allows everyone from anywhere to send money to anyone else without the use of a financial intermediary such as a bank. Moreover, compared to traditional payment methods, Shopify cryptocurrency enables you to easily sell your products all around the world and reach a much larger audience.
2. Minimal transaction fees
There are no transaction fees because cryptocurrencies do not require the use of a financial institution to authenticate the transaction. As a result, your transaction fees will be greatly reduced. However, all blockchain transactions are subject to a gas fee to execute the transaction. In fact, this fee will vary depending on the blockchain and payment processor used, but is significantly less than any traditional method. Thus, this allows you to make more money every transaction as well as expand your company.
3. Prevent chargebacks
Another reason you should know when accepting Shopify cryptocurrency payments for your store is to prevent chargebacks. Chargebacks do not exist with bitcoin payments, unlike credit card purchases. Besides, unless the ecommerce merchant decides to do so, the transaction between the merchant and the client cannot be reversed once it has been completed. In short, this is a huge benefit for merchants because it prevents credit card-related online fraud.
4. Quicker payment processing
In reality, the typical payment option can take up to a week to process and see the money in your bank account. In particular, it is even longer if it drops into national holidays. This causes a major cash flow problem for small companies, which may be remedied by accepting cryptocurrency payments. Best of all, compared to the traditional payment methods, payment processing with cryptocurrency is instantaneous and faster.
How to accept Shopify cryptocurrency payments for your Shopify stores?
Although Shopify payments does not enable cryptocurrency payments, it does allow you to accept them through third-party cryptocurrency payment gateways. Besides, a cryptocurrency payment gateway enables merchants to accept and process cryptocurrency payments securely. Hence, it ensures a smooth transaction for both merchants and customers.
To begin, you must go to Settings >> Alternative Payment Providers and select your favorite payment gateway to enable crypto payments on your Shopify store.
Then, in order to link the gateway to your store, you must provide the appropriate credentials and click the Save button to finish.
Top best Cryptocurrency payment gateway for Shopify stores
In fact, Shopify stores accept a variety of crypto payment gateways. However, you must consider the following considerations in order to select the best one:
- Transaction fees
- Supported Cryptocurrencies
- Crypto Conversion features
1. Coinbase Commerce
The first Shopify cryptocurrency payment gateway you should know to utilize for your store is Coinbase Commerce. For more details, Coinbase Commerce is a product of Coinbase, one of the most popular cryptocurrency exchanges. It accepts payments in Bitcoin, Bitcoin Cash, Litecoin, Ethereum, etc and is available in over 100 countries. Plus, it charges 1% transaction fees on cryptocurrency payments and offers free fiat and stablecoin conversion and settlement into their Coinbase wallet or other crypto wallets. Moreover, you may create custom checkout pages and produce bills and invoices for consumers thanks to using Coinbase Commerce.
2. BitPay
In case you are finding an excellent Shopify cryptocurrency payment gateway for your store, let’s take a look at BitPay. For Shopify stores, BitPay is a popular cryptocurrency payment processor. It allows you to accept cryptocurrency payments in Ethereum, Bitcoin, XRP, GUSD, BUSD, and other major currencies. Besides, its transaction fees are only 1%, and there are no additional fees or monthly limits. Plus, it works with most popular crypto wallets, including Metamask, Trust Wallet, Exodus, etc, allowing you to make secure payments. What’s more, thanks to it, you can receive funds directly into your bank account in fiat currency with no price fluctuation.
3. CoinPayments
CoinPayments is another reputable crypto payment gateway that allows you to take payments in BTC, ETH, etc for as little as 0.5% transaction costs. With its auto conversion and auto-forward features, it also provides a multicurrency wallet. Thanks to it, you may store all of your crypto payments or settle directly to your crypto wallet in stablecoin. Furthermore, it also comes with tons of advanced merchant tools. For instance, an invoice builder, custom payment buttons, a POS interface, and donation buttons. As a result, it allows you to accept cryptocurrency payments in a variety of ways.
4. OpenNode
Can’t help but mention OpenNode if you are seeking a suitable Shopify cryptocurrency payment gateway for your site. OpenNode is the finest payment processor if you simply want to accept Bitcoin payments in your store. Payment buttons, hosted checkouts, eCommerce plugins, and APIs can all be used to accept bitcoin payments. Besides, it also lets you accept bitcoin payments via the Lightning Network, which is a speedier version of bitcoin. Best of all, there are no hidden fees, sign-up costs, or conversion fees, and transaction fees are at 1%. Furthermore, with the help of OpenNode, you can convert bitcoin to local currencies automatically at the time of payment and deposit funds directly into your bank account or bitcoin wallet.
5. NOWPayments
Don’t ignore NOWPayments – a popular Shopify cryptocurrency payment gateway that accepts bitcoin, ethereum, and more than 100 other coins. In particular, it has the lowest transaction costs of any crypto payment processor. Besides, NOWPayments supports fiat processing in both directions for maximum flexibility. Specifically, charge fiat and get paid in crypto, or charge crypto and settle in local currency to your bank account. Plus, it is known for providing exceptional customer service by assigning an account manager to assist you with account setup. Not only that, it also provides 24/7 customer support to help you solve any problem.
6. Binance Pay
Binance Pay is a safe and secure cryptocurrency payment gateway created by Binance. If you use it, you can make payments in more than 50 cryptocurrencies. Alternatively, it allows you to accept payments using payment links, Binance-hosted checkout pages, and APIs that you may use to integrate your business and apps. Furthermore, Binance Pay allows you to receive payments directly via QR code and Binance Pay ID, which you can utilize to receive in-person payments if you run into any difficulties.
Outstanding examples of Shopify websites accepting Cryptocurrency
1. Blockchain Stuff
The main purpose of Blockchain Stuff is to promote the crypto lifestyle by selling unique bitcoin and altcoin products. For crypto enthusiasts, Blockchains Stuff has a fantastic selection of Bitcoin and cryptocurrency merchandise. Besides, Blockchains Stuff provides customers with a wide range of products as well as alternative payment options that accept cryptocurrency.
2. Roman Gaming
Roman Gaming is a Shopify store run by Roman, a six-year-old boy, and his father. They sell great gaming equipment including LED headphones, keyboard & mouse combos, chairs, monitor holders, and so much more. Although this store does not sell cryptocurrency, it does accept Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Litecoin.
3. Crypto Music Festival
When it comes to awesome examples of Shopify websites accepting Cryptocurrency, you should take a look at Crypto Music Festival. Clothing and fashion accessories that add swag to the personality are available for purchase at the Crypto Music Festival. Shoppers will find cool, sparkling items that can help them stand out at concerts and parties. In short, this is the most appealing place to go if you are seeking for swaggy festival apparel.
4. CryptoShirt.io
The next example we highly recommend for you is CryptoShirt.io. This website is run by two Web developers who share a passion for cryptocurrency and want to create the largest range of crypto clothing on the Internet. Additionally, this Shopify store sells cryptocurrency T-shirts to promote the digital revolution. CryptoShirt.io provides coin-specific T-shirt collections allowing buyers to quickly find what they are looking for.
5. Crypto Thread
Don’t forget Crypto Thread if you want to refer to a perfect Shopify website accepting Shopify cryptocurrency payments. Crypto Thread is a store that sells amazing Bitcoin and cryptocurrency stuff. Shoppers may quickly browse the cryptocurrency goods collections by coin or product category.
6. Crypto World
This Shopify business intends to educate the public about cryptocurrency and act as a rising tide that lifts all boats. For more details, Crypto World is a store that sells cryptocurrency-related products, artwork, 3D printed things, and miners. Plus, on-site classes are also available at the business. Best of all, in the near future, online classes will be available on this website.
7. Crypto Daddy
Coming to Crypto Daddy – an online apparel and accessory online business of James. This Shopify business sells high-quality printed goods for cryptocurrency investors, enthusiasts, and admirers.
8. Crypto Millionaire
If you want to find a successful Shopify website accepting cryptocurrency payments to learn more, don’t miss Crypto Millionaire. It sells clothing and accessories with original cryptocurrency designs in order to pique your interest in cryptocurrencies.
9. Love Crypto
Let’s have a glance at Love Crypto when it comes to the topic of Shopify websites accepting Cryptocurrency examples. This website sells and ships high-quality crypto items to promote Bitcoin and altcoin culture and spread cryptocurrency love.
10. Crypto Era
Last but not least, the Crypto Era is a notable example you need to know. This online store sells crypto-related stuff and provides a nice method to browse the products by category. Furthermore, the Crypto Era promotes its enthusiasm for cryptocurrency and encourages others to change opinions of cryptocurrency.
The final line
It can be said that cryptocurrencies are gaining traction among businesses and customers. And, surely, soon online retailers will accept crypto payments for their stores. Thus, if you are running an online store and already aware of cryptocurrency, now is the moment to inform your customers and enable them to spend their crypto holdings on your Shopify site. All in all, AHT Tech hopes you can know why you need to accept Shopify cryptocurrency payment gateway as soon as you read this article.
In addition, we offer Shopify development that come with every advanced method to help you not only in this topic but also solve any other of your issues. For more details, don’t hesitate to CONTACT US right now!
