Since its inception cryptocurrencies such as bitcoin have proven their worth in the online marketplace. As people have started to accumulate the currency and turn a profit, they are now looking for ways to spend the currency online.
As an online business, it can prove very profitable to start accepting bitcoin payments through your woocommerce site. Google trends indicates 7000 searches have been conducted this week alone in Australia for the term “how to spend bitcoin”. Not only will accepting bitcoin open up a new profit margin for your business, it will also provide a free marketing edge, as customers look for ways to start spending their cryptocurrency.
When looking for a bitcoin payment gateway, you want to find a solution that accepts a multitude of cryptocurrencies, a service such as Coinpayments offer a diverse range of payment options and currencies, aswell as plugins and payment buttons. Setting up an account on Coinpayments is easy, simply use your email address and assign a password, a confirmation email is then sent and you are ready to start building a bitcoin payment gateway.
Once you have logged into your account, head over to the merchant tools page and download a woocommerce plugin to install on your webpage. If you dont have WooCommerce installed on your site, use a HTML button. CoinPayments also offer an invoicing builder that you can use to provide your customers with completed invoices.
CoinPayments uses a very small fee structure so the service does not have any startup or hidden costs. A .5% fee is taken from every transaction to pay for the service, the smallest fee offered on any bitcoin payment gateway.
Providing customers with the option to pay with bitcoin or other currencies can prove a lucrative and painless business move, which will open up your doors to a vast customer market that would otherwise be out of reach.
To continue reading and to find the latest cryptocurrency insights, visit Australian Bitcoin Review: TABER.