How to Accept Bitcoin Payment On Shopify?

How to Accept Bitcoin Payment On Shopify
How to Accept Bitcoin Payment On Shopify

As you and I both know, the crypto craze has taken over the world in 2021 and it’s probably got you thinking – “Should I include Bitcoin payment for my store?” 

I think that you should because statistics show that the number of crypto payments has risen 600% from 2018 to 2019 and the number has kept growing ever since.

More and more people are getting into the crypto space, you must prepare for the future, giving your customers a chance to pay with cryptocurrencies as soon as possible.

Now let’s take a quick look into how to integrate Bitcoin payments into a Shopify store. 

2 Best Ways to Accept Bitcoin Payment On Shopify

After knowing the fact that people are inclining towards the crypto payments, let me just tell you more benefits that you might get: 

  • Low to zero transaction fees
  • Attracting new demographic to your store
  • It’s chargeback-proof 

There are plenty of apps that you can use as a way to accept payments from cryptocurrencies. However, after doing extensive research, I have found the 2 best ones that are super great for Shopify store owners. 

Coinbase Commerce – Accept Bitcoin In Minutes

Coinbase Commerce is one of the most widely used platforms for accepting crypto payments. It is free of fees, allows you to convert crypto into dollars, and has a global customer base. 

The process for setting it up is quite simple and fast. It only takes a couple of minutes and you’re live. 

Step 1: Sign up for Coinbase Commerce. For that, you simply have to provide your email address, add a two-step verification process, and then secure your seed phrase. 

accept bitcoin payment with coinbase commerce

Step 2: Create a Coinbase Commerce API key. In order to do that, go to the “Settings” of your account and there you will find an API keys section.

set up bitcoin payment with coinbase commerce

Step 3: Click on ‘Create an API key.’ Press on “Reveal” to see the entire key. (Don’t share it with anyone).

bitcoin payment api key in coinbase commerce

Step 4: Add Coinbase Commerce right from the “Settings” of your Shopify store and click on “Payments”.

shopify settings page

Step 5: Look into “Alternative payments” and choose “Coinbase Commerce”.

choose coinbase commerce as your payment option on shopify

Step 6: Enter the same email address as the one you used for your Coinbase Commerce registration. After that, copy the API key we created earlier. 

enter email address and api key in shopify

Step 7: You’re done! You can now accept payments from Bitcoin, Litecoin, Ethereum, and other popular cryptocurrencies. 

Bit Pay – Shopify Integration Plugin

While Coinbase Commerce works with almost all of the popular cryptocurrencies, BitPay is specialized in accepting Bitcoin. It is also global, there are no chargebacks or ID theft, so it’s very secure. Furthermore, the platform promises to be transparent with its customer and it doesn’t hide any of its fees. 

The process for setting it up within your Shopify store is quite seamless as well. 

Step 1: Go to BitPay and click on “Get Started” to register your company for the service.

get started with bitpay

Step 2: From there, you have to fill in the required information and then click on “Create account”.

create a business account on bitpay

Step 3: Once done with that, go to your BitPay dashboard and create an API token. 

manage api tokens on bitpay

Step 4: Go back to “Settings” on your Shopify store.

Shopify settings

Step 5: Select Payment, go to Alternative payment method, and select BitPay from the list of possible providers.

select bitpay as your payment option on shopify

Step 6: Now you have to copy the API token we created earlier and paste it there. Click on “Save” to complete the setup.

put in the api key

Step 7: That’s it. Now you’re ready to start receiving Bitcoin payments.

Final words

Cryptocurrencies are going to be the future of money. So, be a forward thinker and integrate bitcoin payment into your store – this will be a way to introduce your company to new demographics, as more and more people start using crypto coins as a purchasing method.

In January 2021, the Bitcoin market reached an all-time high of 600 billion U.S dollars. This means that it has grown by 400 billion since last summer. Collectively, all of this shows that there is interest and investment in the space. 

So, my advice is to be smart and look ahead to the possibilities as it costs nothing but might give something.  

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