How to accept crypto payments on Shopify with examples
Online shopping has never been as advanced as it is today. Every day, many eCommerce retailers allow and accept cryptocurrency as a valid form of online payment. While this is great news for all crypto users Shopify cryptocurrencies, it leaves infinite Shopify merchants unsure about how to accept crypto payments.
If you want to learn how to accept crypto payments in your online store. Even if you are new to using crypto or accepting Shopify cryptocurrency payments, we can help. Here’s all the information you need to quickly and easily accept crypto payments on Shopify.
Shopify accepts crypto payments
In 2020, Shopify cooperated with CoinPayments, BitPay, and Coinbase Commerce. This partnership meant new, innovative digital payment choices were made accessible to Shopify vendors. Offering crypto payments to your clients makes excellent business sense to Shopify merchants.
In such a cutthroat and developing industry, you don’t want to turn clients away because you decline to bring them with their favored payment plans. When you do, you give clients a terrible experience and they will not rapidly return to your shop. Even with crypto payments, you can still harmonize all your Shopify payments and carry on to enjoy great marketing benefits.
So if you want to know how to accept Bitcoin payments on Shopify or other Shopify cryptocurrency payments, this is how you make it happen.
Steps To Accept Crypto Payments On Shopify
Shopify has made accepting cryptocurrency payments fast and simple. Here’s how to add crypto payments to Shopify. Before clients can pay with cryptocurrency, you will have to activate your preferred payment service provider.
- Go to Settings at the bottom left of your store dashboard and click “Checkout”.
2. Then, select “Alternate Payment Providers” and search for Coinbase.
You’ll then need to enter your Coinbase email and API key, which you can find at Settings > API. After that, users will be able to use Coinbase in addition to other payment providers that you support.
Once you have enabled a cryptocurrencies payment method, you will be able to accept Bitcoin, Ethereum, Litecoin, or any other digital currency currently available for online payments. Choosing a new payment option to accept Shopify cryptocurrency payments will not affect your existing payment options. Your other payment gateways and means will remain unchanged.
Remember that each cryptocurrency payment gateway has its own support channel for any issues that may arise. You will need to contact them directly if you need any assistance or want to learn more about how the platform works.
Why Accept Shopify Cryptocurrency Payments?
First things first, accepting crypto payments isn’t just an alternative to traditional payment methods – it’s so much more.
1. Access to wider markets
Shopify cryptocurrency payments are not bound by any jurisdiction or border. Anyone from anywhere can send payments to anyone without the need for financial intermediaries like banks. This allows you to sell your products worldwide and capture a wider market that traditional payment methods cannot reach.
2. Minimum transaction fee
Since Shopify cryptocurrencies do not involve any financial institution for transaction verification, there are no intermediary fees involved in the process. This significantly reduces your transaction fees.
3. Prevent chargebacks
Unlike credit card payments, there is no concept of chargeback for crypto payments. Once a merchant-customer transaction is complete, it cannot be reverted unless the merchant chooses to do so. This is a significant advantage for merchants as it eliminates the online frauds that come with credit card payments.
4. Faster Payment Processing
Cryptocurrency payment processing is instant and faster than traditional payment methods.
Examples of Shopify Websites Accepting Cryptocurrency Payments
Let’s see how these Shopify stores offer a unique shopping experience by allowing crypto payments.
1. Crypto Thread
Crypto Thread sells interesting merchandise to Bitcoin and altcoin fans. Shoppers can easily browse crypto product collections based on their preferred coin or product category.
2. Crypto Daddy
Crypto Daddy is an online attraction and accessories store owned by James. This Shopify store sells high-quality printed products to crypto owners, fans, and fanatic.
3. Love Crypto
Love Crypto sells and ships high-quality crypto merchandise to support Bitcoin and altcoin culture and spread the love for crypto.
4. Blockchain Stuff
Blockchain Stuff offers large category items to their shoppers along with alternative payment plans that support Shopify cryptocurrency.
Conclusion
I hope after this reading you will know how to accept crypto payments on Shopify and examples of Shopify websites that have inspired you. Accepting Shopify cryptocurrency payments is a smart decision. Activating them on your Shopify is easy. You can speedily and simply offer your clients a new payment option that will make you more money.
At ONEXT DIGITAL, we specialize in providing the best Shopify development services. If you have any questions about how to accept cryptocurrency payments on Shopify, you can contact us immediately for the fastest service.