How to accept bitcoin payments on WordPress website - Currently, there are quite a few popular digital currencies available, but Bitcoin is still the most valuable currency. When people talk about cryptocurrencies, they often talk about Bitcoin.
With that said, including Bitcoin on your WordPress site as a payment method is something you need to seriously research. In this article, we will talk about how to add this payment method to your WordPress site and the entire payment process in Bitcoin.
First, we will introduce you to Bitcoin and explain some of the main benefits of Bitcoin trading. You will need certain tools before you can start accepting cryptocurrencies on your site. There are many WordPress plugins and digital payment processing services available on the Internet that can help you make this payment method.
What is Bitcoin?
Bitcoin very quickly became popular when its value began to increase rapidly. Everyone wants to mine and trade bitcoins because the right people make a lot of money. You only need to invest, mine, then sell or trade at the right time while constantly monitoring the value of Bitcoin.
Bitcoin is one of the virtual currencies, meaning it doesn't depend on any bank and there are no administrators behind it. No one knows whether it was created by anyone. Back in 2009, a guy named Satoshi Nakamato claimed to be the mastermind behind Bitcoin, but there is no evidence to prove it.
When Bitcoin caught attention, many new virtual currencies were launched. Businesses and organizations have launched a lot of new coins and currently have more than 1000 of them available. It goes without saying that most of them are not worth a penny, but this may change in the future. The most popular currencies used for online payment are the following: Ethereum, Litecoin, Zcash, Ripple and Dash.
People buy a lot of things online with Bitcoin, especially miners who want to increase their Bitcoin stock. There are many online shops, online services, and even coffee shops that agree to Bitcoin as a payment. If you watch Twitch.tv where most online gamers run their live stream, you can see that people can also donate with Bitcoin.
As people are accustomed to paying with Bitcoin online, it may include Bitcoin or other crypto payment options on your WordPress site.
This is why you should accept Bitcoin payments
Let's take a look at some of the main benefits of accepting Bitcoin payments from your customers on the WordPress website:
To be able to pay with Bitcoin, you don't need a specific credit card or online payment account. There are no additional companies that handle payment and are paid. People only need a Bitcoin wallet with money on it and they can make secure transactions from anywhere in the world.
Paying with Bitcoin can be an anonymous process. It just depends on the customer whether they want to share their personal information. Because not everyone feels comfortable sharing online, you can change the mindset of these types of customers by offering them an anonymous payment option.
The transaction fee is really low due to the fact that a third party company is not necessary for the transaction. This is how all cryptocurrencies work, everything happens only between two users in the process.
See more: How to create a multilingual WordPress website
What to do first?
Now when you begin to understand why Bitcoin payment is so important to your WordPress site, take a look at the main requirements you must meet before your website is ready for Bitcoin.
1. You need a Bitcoin wallet
To be able to make payments to users and merchants, you need to create a Bitcoin wallet. Basically, that is your Bitcoin storage. However, if we want to be more technical, it's an online software that stores your Bitcoin keys and personal information.
You can store your wallet anywhere, be it PC, USB, mobile phone or somewhere on the Internet. There are lots of options and it is important to do some research before you decide how and where you store your cryptocurrency wallet. The most popular online wallet services today are CoinBase and Bitpay, which are also used to process digital payments.
2. Find a digital payment processing service
This type of service allows you to accept Bitcoin payments on your WordPress site. That's not the only way, but digital payment processing services are most definitely recommended if you want to make payments in Bitcoin or other cryptocurrencies. Once Bitcoin payment is set up and running on your website, the service will deposit your existing funds into the wallet.
Another useful thing about digital payment processing services is that they allow you to exchange your money into any local currency and deposit it in your bank account. Just giving you a few options, we'll show you 3 very popular payment processing services:
- The first one is Bitpay, a Bitcoin service provider from Atlanta with a worldwide presence. After you attach your Bitcoin wallet to your WordPress site, Bitpay will send all Bitcoin payments to your wallet or convert it into an arbitrary currency and deposit it into your bank account. . They are one of the largest companies processing Bitcoin and Bitcoin Cash payments to merchants.
- A similar option is CoinBase, a San Francisco-based company that provides digital currency exchange services. They offer Litecoin, Bitcoin, Bitcoin Cash and flat money exchange services in 32 countries. CoinBase also covers 190 countries when it comes to Bitcoin wallets and payment processing, making it an ideal choice for your WordPress site.
- Another reliable option is CoinGate, a digital payment gateway from Vilnius, Lithuania. Many online businesses use CoinGate to process Bitcoin and Altcoin payments, including 45 different cryptocurrencies in general. As a WordPress website owner, you can easily use CoinGate because they have their own WooCommerce plugin. Similar to the previous two times, this payment processor can also deposit money into your wallet or account.
3. WordPress plugin for Bitcoin payment
If you manage to create a digital wallet and register with a digital payment processor, the only thing left to do is to add the digital payment feature to your website. You need a plugin for your customers to pay electronically and there are many of them available.
Bitpay - WooCommerce Plugin
If your choice is that Bitpay is a digital payment processing service as an WooCommerce based online business, then we have some great news for you. Bitpay now has its own WooCommerce plugin, which you can download and install on your website. To get the plugin, create a Business Account on their website. This is their main business plan that allows you to process Bitcoin payments to customers and convert them into local currency.
Bitpay provides an open source plugin that you can easily install. Once that is done, the final step is to connect WooCommerce and Bitcoin, which is not easy, but you can always follow the short instructions on the official Bitpay website to get the job done. If done correctly, you will be able to accept Bitcoin payments from customers.
CoinGate - WooCommerce Plugin
It mostly depends on whether your target audience is an online store, but you may need to allow your customers to pay in more cryptocurrencies. Sometimes Bitcoin is sufficient but in other cases you only need to sign up for CoinGate, which supports a variety of digital currencies. To be able to process these transactions on your WordPress site, CoinGate has created a plugin that can be installed on any WooCommerce-based website.
The registration process at CoinGate's official website is simpler than registering on Bitpay. You do not need to create a separate business account, they have a simple form instead of where you create a regular account. You can find this page by clicking on the ‘Subscribe’ button on their previous page.
Again, a plugin should always be connected to the provider. Check out their plugin description page where you can find easy-to-follow instructions and are ready to accept both Bitcoin and Altcoin payments.
Mollie Payment - WooCommerce Plugin
Mollie is a modern payment gateway method recommended for both small and large businesses. Their main purpose is to pay quickly and easily for people who want to buy products online. Mollie ensures that every transaction on your WordPress site will be safe for your customers while they can pay with their favorite cryptocurrency.
Besides Bitcoin, the company supports all popular altcoins as payment options. They have a free plugin with a perfect 5-star rating and over 30,000 installs, great reviews, and simple instructions for the plugin interface. It is updated to the latest WordPress version, so you can install it on your WooCommerce website at any time.
On their website, you can go through the easy registration process to get started. After the plugin works, customers can pay with Bitcoin or any other cryptocurrency and Mollie will exchange and send it to you in Euro. Basically when you sell your product, the revenue will come to your bank account with a short delay so there is no need to create a Bitcoin wallet.
Digital Paybox is a WordPress plugin developed by a group called Halfdata and they are among the top developers on Codecanyon. This is a premium plugin that costs $ 20 and you can also extend their customer support for a year if you pay an extra $ 6.
Digital Paybox supports many payment methods including Skrill, PayPal, EgoPay, credit cards, debit cards,…. But the most important thing for you is that they also support Bitcoin payment. They have partnered with BitPay to be able to process Bitcoin transactions.
The plugin can be installed within minutes and has a user-friendly interface where customers can set the amount they want to spend on your website. There are types of websites that offer free content to entertain their audience and then visitors can purchase their content as digital products at arbitrary prices.
As a site owner, you can set a fixed price or minimum limits that are optimal for these sites. When someone buys a digital product, Digital Paybox will send an email to customers containing a temporarily encrypted link. By clicking on it, they can download the content.
See more: Create a free Website
You now have all the tools required to accept Bitcoin payments or any other digital payments on your WordPress site. You can't go wrong with plugins and websites because we mentioned the most popular plugins available today on the Web. However, you need to consider which digital payment processor and plugin is best suited for your WordPress website by our review.
This will depend on the type of website you are running and your customer base. If you can't decide which one to choose, you should try each one and it will give you an idea of how they work. The moment Bitcoin and a few other virtual currencies became so popular and high in value, most online businesses could not abandon this Bitcoin payment option.