How to Accept Bitcoin Payments on Your WordPress Website?
Today, we have reached a point when pretty much everyone has at least a slight idea about what cryptocurrencies are. There are quite a few popular digital currencies available right now, but Bitcoin is still the one with the highest value. When people talk about cryptocurrencies, they talk about Bitcoin most of the time.
With that being said, including Bitcoin on your WordPress site as a payment method is something that you need to seriously consider. In this article, we are going to talk about how to add this payment method to your WordPress website and the whole process of paying with Bitcoin.
Firstly, we will introduce you to Bitcoin and explain some of the main benefits of Bitcoin transactions. You will need certain tools before you can start accepting cryptocurrencies on your website. There are plenty of WordPress plugins and digital payment processor services available on the Internet that can help you to implement this payment method.
What is Bitcoin?
Bitcoin quickly gained popularity when its value started to rapidly grow. Everyone wanted to mine and trade bitcoin because people who did it right earned a lot of money. You just had to invest, mine, then sell or trade at the right time while constantly monitoring the value of Bitcoin.
Bitcoin is one of the digital currencies, meaning that it doesn’t rely on any bank and there is no administrator behind it either. No one knows whether it was created by a person or group of people. Back in 2009, a guy named Satoshi Nakamato claimed to be the mastermind behind Bitcoin, but there is no evidence that he actually worked on the project.
Once Bitcoin raised attention, numerous new cryptocurrencies emerged. Businesses and organizations came up with lots of new coins and now there are over 1000 of them available. Needless to say that most of them are not worth a penny, but this might change in the future. The most common coins used for online payment are the following: Ethereum, Litecoin, Zcash, Ripple and Dash.
People buy a lot of stuff online with Bitcoin, especially those miners who want to increase their Bitcoin stock. There are plenty of online shops, online services, even coffee shops that accept Bitcoin as a payment. If you take a look at Twitch.tv where most of the online gamers run their live streams, you can see that people can donate with Bitcoin as well.
Since people are getting used to paying with Bitcoin online, it might be a good idea to include a Bitcoin or other cryptocurrency payment options on your WordPress site.
This is Why You Should Accept Bitcoin Payments
Let’s go through some of the main benefits of accepting Bitcoin payments from your customers on a WordPress site:
- To be able to pay with Bitcoin, you don’t need a specific credit card or online payment account. There is no additional company that processes the payment and gets a fee. People just need a Bitcoin wallet with coins on it and they can execute a secure transaction from anywhere on the World.
- Paying with Bitcoin can be an anonymous process. It only depends on the customers whether they want to share their personal information. Since not everyone is comfortable sharing it online, you can change the mind of these types of customers by offering them the choice to pay anonymously.
- Transaction fees are really low because of the fact that a third-party company is not necessary for the transaction. This is how all cryptocurrencies work, everything happens only between the two users in the process.
What to Do First?
Now as you start to understand why Bitcoin payments are so important for your WordPress website, let’s see the main requirements you have to meet before your site is ready for Bitcoin.
You Need a Bitcoin Wallet
To be able to make payments with users and merchants, you need to create a Bitcoin wallet. It is basically where your Bitcoins are stored. However, if we want to be more technical, it’s an online software that stores your Bitcoin keys and private information.
You can store your wallets anywhere, be it your PC, USB, mobile phone or somewhere on the Internet. There are plenty of options and it’s important to do some research before you decide how and where you store your cryptocurrency wallet. The most popular online wallet services right now are CoinBase and Bitpay which are also used for processing digital payments.
Find a Digital Payment Processor Service
This is the kind of service that makes you able to accept Bitcoin payments on your WordPress site. It is not the only way, but digital payment processor services are definitely the most recommended if you want to execute payments with Bitcoin or other cryptocurrencies. Once Bitcoin payments are up and running on your website, the service will deposit your available coins into your wallet.
Another useful thing about digital payment processor services is that they let you exchange your coins into any local currency and send it to your bank account. Just to give you some options, we are going to show you 3 highly popular payment processor services:
- The first one is Bitpay, a Bitcoin service provider from Atlanta that is available worldwide. After you attach your Bitcoin wallet to your WordPress site, Bitpay either sends all the Bitcoin payments to your wallet or converts it into an arbitrary currency and sends it to your bank account. They are one of the biggest companies that process Bitcoin and Bitcoin Cash payments for 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 website.
- Another reliable alternative is CoinGate, a digital payment gateway from Vilnius, Lithuania. Many online businesses use CoinGate for processing Bitcoin and Altcoin payments, including 45 different cryptocurrencies overall. As a WordPress site owner, you can easily use CoinGate because they have their own WooCommerce plugin. Similarly to the previous two, this payment processor is also able to send coins either to your wallet or bank account.
WordPress Plugins for Bitcoin Payments
If you managed to create a cryptocurrency wallet and register to a provider that takes care of the digital payment processing, the only thing left to do is to somehow add the digital payment feature to your website. You need a plugin that will allow your customers to pay with cryptocurrency and there are plenty of them available.
Bitpay – WooCommerce Plugin
If your choice was Bitpay as a digital payment processor service as an online business based on WooCommerce, we have some great news for you. Bitpay now has its own WooCommerce plugin that you can download and install on your website. To get the plugin, create a Business Account on their site. It is their main business plan that allows you to process Bitcoin payments for your customers and convert it into your local currency.
Bitpay offers an open-source plugin that you can easily install. Once it’s done, the last step is to connect WooCommerce and Bitcoin which is not that straightforward, but you can always follow the short guide on Bitpay’s official site to get it done. If done correctly, you will be able to accept Bitcoin payments from customers.
CoinGate – WooCommerce Plugin
It mainly depends on your target audience as an online shop, but you might need to allow your customers to pay in more cryptocurrencies. Sometimes Bitcoin is enough but in other cases, you can simply sign up to CoinGate which supports a wide range of digital coins. To be able to process these transactions on your WordPress website, CoinGate created a plugin that can be installed on any WooCommerce based site.
The registration process at CoinGate’s official site is simpler than registering to Bitpay. You don’t need to create a separate business account, they have a simple form instead where you create a regular account. The page can be found by clicking on the ‘Sign Up’ button on their front page.
Again, a plugin always needs to be connected with the provider. Check out their plugin description page where you can find an easy to follow guide and get ready to accept both Bitcoin and Altcoin payments.
Mollie Payments – WooCommerce Plugin
Mollie is a modern payment gateway solution that is recommended for both small and big businesses. Their main purpose is to make payments a quick and easy task for everyone who wants to buy products online. Mollie guarantees that every transaction on your WordPress site will be safe for your customers while they can pay with their preferred cryptocurrency.
Besides Bitcoin, the company supports all the popular altcoins as payment options. They have a free plugin with a perfect 5-star rating and over 30,000 installs, great reviews and straightforward instructions for the plugin interface. It is updated for the latest WordPress version, so you can install it to your WooCommerce website at any time.
On their website, you can go through an easy sign up process to start your partnership. After the plugin is up and running, customers can pay in Bitcoin or any other cryptocurrency and Mollie is going to exchange and send it to you in Euros. Basically as you sell your products, the revenue will arrive to your bank account with a short delay so there is no need to create a Bitcoin wallet.
Digital Paybox is a WordPress plugin formerly known as Donate and Download with overwhelmingly positive reviews. It is developed by a team called Halfdata and they are one of the top developers on Codecanyon. This is a premium plugin that costs $20 for a lifetime and you can also extend their customer support for a year if you pay an additional $6.
Digital Paybox supports plenty of payment methods including Skrill, PayPal, EgoPay, Credit and Debit cards and much more. But what is most important for you know is that they support Bitcoin payments as well. They partnered up with BitPay to be able to process Bitcoin transactions.
The plugin can be installed within a few minutes and has a user-friendly interface where customers can set how much they want to spend on your website. There are those types of websites that provide free content to entertain their audience and then visitors can buy their content as a digital product for an arbitrary price.
As the website owner, you can either set a fixed price or a minimum limit which is optimal for these websites. When someone buys a digital product, Digital Paybox sends an email to the client that contains a temporary encrypted link. By clicking on it, they can download the content.
Now you have all the tools that are required to accept Bitcoin payments or any other digital payment on your WordPress site. You can’t go wrong with the plugins and websites because we mentioned are the most popular ones right now on the Web. However, you need to consider which digital payment processor and plugin fits your WordPress website the most by evaluating our reviews.
This will depend on the type of website you are running and your customer base. If you can’t decide which ones to choose, we recommend you to try out each one and it will give you an idea about how they work. As Bitcoin and a few other cryptocurrencies became so popular and reached such a high value, most online businesses simply can’t afford to leave the Bitcoin payment option out of their repertoire.