Is cryptocurrency a scam?
Is it easy to accept cryptocurrency through an online store?
Which crypto payment gateway is right for my store?
There is obviously not a simple answer to this as all online stores are different in so many ways. But the first thing to consider is which ones have a direct integration into the selling platform you are using. This will give you a relatively hassle-free setup and provide a smooth payment experience for the customer and give you the post-payment tools you need as the store owner.
The next thing to think about is what cryptocurrencies you want to accept, all providers support different types, so be sure the one you choose offers the ones you need. Some will also offer integrations into 3rd party wallets if this is something you need. Just be sure to do your research here and find what is right for your business, you can always change this later down the line, you should still be able to use the wallet you set up initially. You can even combine multiple gateways, although this is a little messy for the customer.
Can I convert the crypto into cash or other coins?
Should I use a VPN when dealing with crypto?
Is there a minimum amount of Crypto you can withdraw?
What are the charges to accept crypto?
Can you refund customers who pay with cryptocurrency?
How stable is cryptocurrency?
What are stablecoins?
Stablecoins are coins that are tied to an underlying currency like the US Dollar, so they tend not to fluctuate much in value. Tether (USDT) and USD Coin (USDC) are good examples of this, you can see in the graph below how much more stable their value is in comparison to something like Bitcoin. You can see in the graph below, using Tether as an example, it only shifted in value around 5 pence (a few cents) in the last year. Some store owners may choose to only accept stablecoins if they are risk-averse.
What crypto payments should I accept online?
How long do crypto payments take to process?
Do you pay tax on crypto payments?
What are the advantages of accepting cryptocurrencies in my store?
At the end of the day, you are just opening up your store’s payment gateways to the widest possible audience, much the same as accepting Apple Pay or PayPal payments. But crypto payments do transfer some additional processes to the seller side, such as withdrawal fees and a different refund process for that customer set.
What are the disadvantages of accepting cryptocurrencies in my store?
So should I accept cryptocurrency through my online store?
Please note: This article does contain Coinbase referral links, I am not associated with them in any way. You will not pay any extra by clicking on the links in this article, instead, you receive an offer. If you do decide to use the link, you will receive £7.50 ($10.00) in Bitcoin when you deposit £75 ($100) into your account and I get the same, a good deal for everyone.