How to Accept Cryptocurrency on My Website?

The significance of cryptocurrency has enabled more online stores to offer an alternative way of payment aside from credit cards or other digital wallets.

But how are you going to integrate it into your e-commerce website?

How this works

The use of cryptocurrency has become a common method for sending payment, which is similar to paying in cash at your brick-and-mortar shop. But that doesn’t need any type of integration on your website.

Instead, you can have a complete checkout system that you can easily integrate on your site. This will enable users to check out fast and receive the products right away.

You may have a need to integrate a cryptocurrency ach payment processor into your site wherein you can make checkout pages linked with your existing systems. You just have to link them if you are using a platform that provides direct support for your system.

Online payment processors

The largest companies around the world are already accepting cryptocurrencies as payment for the goods and services they provide to their customers. In the same fashion, small businesses can also take advantage of this trend by accepting digital payments through online payment processors.

Only 1% transaction fee or even less is typically offered by these processors, which is actually less that what you have to pay for most credit cards.

  • Set up an e-commerce platform

Most e-commerce sites already have integration with a cryptocurrency payment processor. This will make the set up for cryptocurrency payments a lot easier. You can also talk to your e-commerce solution provider if you need help understanding your own e-commerce platform.

  • Check different solutions

You also need to check the various payment processors offerings if any of them should work best for your store.

  1. Check for transaction fees. Transaction fees are charged by these payment processors. You can look for one that offers reasonable rates and services to suit your needs.
  • Frequency of payout. Be sure to check this one out because some providers are able to release payouts on a daily basis, while others can reach 3 days. Don’t forget to discuss the matter with your payment processor about the frequency of payout if this is much important to you.
  • Currencies supported. Check if the payout currency that you prefer is being supported by the cryptocurrency payment processor.
  • Countries supported. Note that there are payment processors that may not be able to serve certain regions. So, make sure that your provider is able to support your country of preference.
  • Customer support. Your payment processor should have a customer support feature to help you out when you have questions about cryptocurrency payments.

After having decided which cryptocurrency payment provider you can integrate into your e-commerce platform, the next big thing that you need to consider is security. Thus, you need to educate yourself on safeguarding your funds.

This requires you to find a reliable digital currency wallet. That is why, you need to take time to secure it using strong passwords, encryptions, and backups.