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Accepting Cryptocurrency Payments On Shopify

Accepting Cryptocurrency Payments On Shopify

Cryptocurrency Payments On Shopify

A fully-furnished platform ready to go. 24/7 support with an almost-instant response time. In-built SEO and digital marketing tools. These are just but a few of the benefits Shopify offers e-commerce sellers. And now the platform's bringing one more potent tool to your arsenal in the form of cryptocurrency payments --- here's a quick guide to help you get started.

Accepting Crypto Payments on Shopify: What Do You Need?

As if a super user-friendly store setup wasn't enough, adding crypto to your checkout is even more straightforward. No coding skills or technical know-how will be required on your part. It's just a matter of enrolling on your preferred gateway and integrating it to your store (as we'll find out shortly).

Shopify works directly with BitPay, Coinbase Commerce and CoinPayments.net, and there are plans in the works to add yet more crypto gateways. But even with the current providers, you'll be able to accept over 300 digital currencies, including Bitcoin, Litecoin, and Ethereum. Also note that Shopify allows you to add as many gateways to your store as you please.

On that note, let's see what you need to do to start accepting crypto payments:

- Sign up for an account on your preferred provider's website. Make sure to choose the "Business" option for BitPay and CoinPayments.

- Once your account is set up and verified, generate an API key/token. Each website provides instructions on how to do that.

- Head to the 'Payment Providers' section of your Shopify Admin page and enable the option you signed up for by pasting its respective API key/token.

And Voila! Your Shopify store is now ready to process cryptocurrency payments.

Shopify Cryptocurrency Payments: Pros and Cons

Decentralization is arguably cryptocurrency's biggest selling point. It's not governed by any central authority like traditional money, and thus offers a lot more flexibility. Here are some of the benefits you can expect once you go crypto:

- No More Chargebacks: Urgh, the horror of having a payment reversed after you've worked so hard to get the goods in the customer's hands! Crypto transactions are irreversible, so there's no risk of chargeback fraud.

- Quicker Payment Processing: Cryptocurrency exchanges only take a few seconds to complete, since there are no banks or other hurdles to jump through. That translates to instant access to your funds.

- Security: Crypto offers more security thanks to the fact that transactional data is never saved on a central server. It also eliminates the need to exchange sensitive personal identifying information.

- Global Reach: With crypto, there's no need to figure out exchange rates or find suitable local payment gateways when expanding outside your national borders.

Accepting Cryptocurrency As A Shopify Merchant With NOWPayments

Accepting Cryptocurrency As A Shopify Merchant With NOWPayments

NowPayments

Transacting on Shopify has just become easier. This is after Shopify and NOWPayments signed a deal whereby, shoppers can order products and pay for them using cryptocurrency, and merchants can accept the payment through the new Shopify plugin.

For those not familiar, NOWPayments is a cryptocurrency payment gateway that supports over 70 cryptocurrencies as payout, donation, and payment options.

To enjoy this revolutionary new service that has a new Shopify Partnership, simply sign up for a NOWPayments account through a short, simple, and absolutely free registration process.

How it Works

NOWPayments allows Shopify merchants to accept payments and donations in the form of Bitcoin and over 70 other altcoins through the Shopify plugin. Business owners also have the option of choosing a wallet of their favorite cryptocurrency to use in accepting payments. Even in this case, the merchant will still be able to receive payment in the currency he or she designated with the help of the auto change feature by NOWPayments.

Through a conveniently designed dashboard, Shopify merchants will also be able to track all their payments and transfer whatever data they need whenever they want. NOWPayments will also provide you as a Shopify merchant with a personal account manager to assist you through any difficulty you might face during the integration process and afterwards.

What is Shopify?

Shopify is an online store where clients and merchants/business owners can interact to buy or sell products or services. As at April 2021, Shopify has more than 1,000,000 merchants from all over the world. This platform offers a wider range of services and several payment options. All these offerings can be easily accessed publicly or privately through Shopify apps.

What are Shopify Plugins?

NOWPayments currently supports several plugins for accepting payments. These plugging include WHMCS, Zen Cart, Magento, PrestaShop, WooCommerce, and Shopify.

NOWPayments' Shopify plugin can be added by a Shopify merchant as alternative, manual payment method, therefore, allowing them to experience the great benefits that this new payment feature has.

Ways To Make Money With Bitcoin

Bitcoin

Exactly what is bitcoin? It's a cryptocurrency or digital form of currency. It involves the process of computerized mining, which is an algorithm that computes daily.

Why should this interest you? You've probably heard mind boggling stories about how people are making loads of money with bitcoin. Some of the first bitcoin investors have made hundreds or thousands of dollars. So, you probably want to learn new ways to make money with bitcoin. First of all, don't believe it when people say it's impossible since you're not an original investor. There may be some truth to this, but this is not entirely true. Why? No, you can't invest at an incredibly low price anymore, but there are still plenty of ways to make money with bitcoin. Just learn the following and take advantage of bitcoin while it's still hot.

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 Patrick Stevens
 485  245882  11/19/2021

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