I previously discussed the reasons why you should accept Bitcoin payments on your e-commerce website.
Now, it is important to mention how to actually go about accepting bitcoins on your website.
One of the concerns merchants can raise regarding bitcoins is their volatility. Due to how new the bitcoin economy is, their value can fluctuate significantly during the course of a day. Although investing in bitcoins by holding them can be quite profitable, unless your suppliers and/or trade partners also accept the cryptocurrency directly, this can cause unnecessary difficulties.
So, what if you were able to entirely mitigate this risk?
This is where a bitcoin payment processor comes in. BitPay offers merchants the ability to immediately convert their bitcoins to the flat currency of their choice (such as GBP, EUR or USD) at the time of payment. This essentially means you will use Bitcoin merely as a payment mechanism, while not holding any bitcoins, and therefore not be exposed to any of the volatility risk. All this while still reaping all the benefits of accepting Bitcoins.
BitPay provides the tools necessary to integrate BitPay into almost every e-commerce solutions available, including bespoke developments. They also provides services to allow you to accept Bitcoin payments in your retail store as well as online.
If you’re interested in accepting Bitcoin payments with no risk, please feel free to contact us and we can help you get set-up with a custom BitPay integration to suit your needs.
We’ve previous integrated BitPay into several websites, including the following two bespoke e-commerce developments: