Win New Customers, Accept Crypto Payments at Your Retail Store

Cryptocurrency payment gateways function similarly to crypto wallets, but with added functionality. PayPal is a solid choice for cryptocurrency transactions for several reasons. You may already honor PayPal payments, making the transition easy. With so many people already using PayPal, you put crypto payments in easy reach for customers. Additionally, it works with POS systems to convert the crypto directly into US dollars. Otherwise you can use a third-party payment processor, such as Coinbase or BitPay, and they will handle the entire payment process, just as credit card payment processors do.

how to accept cryptocurrency payments

When evaluating offers, please review the financial institution’s Terms and Conditions. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. That QR code tells the customer’s digital crypto wallet or app where to send the crypto, a destination known as an address.

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The exchange rate presented to the customer is guaranteed for 15 minutes. Keeping up with rapid changes in cryptocurrency technology and regulation could be burdensome. We do not offer services of B2BINPAY to citizens of jurisdictions where the right to trade is limited or prohibited by the rules of current legislation. As specialists in our field, we always offer our clients a safe, secure and reliable environment.

  • CoinPayments lets you use a variety of payment buttons on the payment page.
  • Payouts occur on a daily basis, and you can choose to have your funds sent to a cryptocurrency wallet or exchanged for fiat currency and deposited right into your bank account.
  • It’s worth noting that PayPal allows shoppers to pay using cryptocurrency.
  • The most popular, Bitcoin, is generally supported everywhere.

Crypto has been around since 2009, but it is still a new concept for many users. Your customer service team might have to answer multiple questions on the payment system you set up. They may also demand price changes of your product based on current crypto values. Today there are roughly 10,000 different cryptocurrencies worldwide. Here are a few examples of some popular currencies, starting with Bitcoin, the very first cryptocurrency and the most popular. Technological advancements have spiraled in the modern world, and businesses have shifted to digital forms of online payment.

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Send any crypto to anyone, virtually anywhere in the world as an alternative to sending money. We build your crypto solutions based on your retail needs and adapt to your existing technology. «NOWPayments has made it possible for their users to gain access and derive value from their crypto holdings. A new integration by Cardano has pushed this crypto a step closer to being adopted for mainstream use.» Send and spend your favourite cryptocurrencies with Binance Pay. Payment Priority Order lets you choose which cryptocurrencies you want to spend, in the order you prefer. Binance Pay is a fast and safe way to send crypto to your friends and family, all with a single tap.

The exchange rate is locked for customers once they initiate the payment until they checkout. Coinbase also has integrations with popular e-commerce platforms including Shopify and WooCommerce to make the experience more seamless for merchants and clients. Merchants can opt to have their bitcoin automatically converted to cash, or initiate an exchange manually through Coinbase Exchange.

Decisions often in the hands of card networks, and they often favor the customer. First, you should be aware of the tax implications, especially if you plan on holding on to any crypto you receive. To verify the transaction is legitimate, the customer enters their password, called a private key. The allure of overnight riches can outshine the fact that Bitcoin was first used in an everyday transaction — to buy a pizza.

You’ll be better off if you have the capacity to hold on to the crypto without converting to USD. Wait until the next upward swing; however, an upward movement isn’t guaranteed. Some cryptocurrency processors complete payouts in three to five days, but others do it daily, which may be an advantage for your business.

No matter which merchant tool you will end up using, integrating CoinGate payment solutions is as simple as it can be. Place your product or service description here with all the necessary information for your customers. Many popular solutions, like Coinbase and BitPay, have both wallet and gateway functionality. Your customer pays the BitPay invoice at a locked-in exchange rate.

By accepting cryptocurrency as a payment method, you can reduce your transaction processing costs, protect your business from excessive chargebacks, expand your market, and cater to consumer preferences. If you want to keep your business on the cutting edge, it’s definitely worth it to accept cryptocurrency in your online store. Especially since crypto processors like BitPay can protect your business from price fluctuations, so your business won’t risk losing money due to changes in coin value. You can appeal to crypto-enthusiast customers, and boost your brand visibility, with minimal risk. Accepting cryptocurrency as a payment method will give you access to a whole new market of tech-savvy consumers who have created a community within the cryptocurrency market.