As global economies navigate the turbulence of the 21st century, businesses must adapt to survive and thrive. In this digital era, a necessary adaptation is the acceptance of crypto payments. Cryptocurrencies offer possibilities, from enabling peer-to-peer transactions across borders to providing financial services to the unbanked.
Cryptocurrencies are becoming more popular as a valid online payment form as online shopping evolves. Shopify is a great platform for online shopping, and they have only recently introduced crypto payments, but many merchants don't know how Shopify accepts cryptocurrency in their online store. If you are new to cryptocurrencies or want to enable them on Shopify, we can help. This article will show you how to quickly and easily accept cryptocurrency payments in your store.
Why Accept Crypto on Shopify?
Shopify is a leading e-commerce platform that allows anyone to set up an online store and sell their products. It offers various services, including payments, marketing, shipping, and customer engagement tools to simplify running an online store for small merchants. Shopify is also forward-thinking and has recognized the potential of cryptocurrencies. In response, it has enabled a feature for its merchants to accept crypto payments, accept Bitcoin payments, thus opening up a new realm of possibilities for businesses worldwide.
Accepting crypto payments, Shopify is smart for businesses that want to reach more customers and benefit from the advantages of digital assets. Cryptocurrencies, such as Bitcoin, offer an alternative to traditional fiat currencies, allowing users to transact securely and efficiently. With platforms like CPAY, businesses can easily accept crypto payments from Shopify and enjoy lower fees, faster transactions, and greater transparency.
Shopify Bitcoin: A Case Study
Shopify crypto payment is a great way to attract customers and increase sales. Bitcoin is the most popular cryptocurrency and the first to be accepted by many Shopify merchants. These merchants have experienced benefits such as higher conversion rates, lower transaction fees, and access to a global customer base. With platforms like CPAY, Shopify merchants can easily accept Bitcoin and other cryptocurrencies as payment options, expanding their market reach.
Advantages of Accepting Crypto Payments on Shopify
Shopify cryptocurrency payments can bring many benefits to businesses. Some of these are:
• Global reach: Cryptocurrencies are not limited by geographical boundaries. This allows customers worldwide to buy from your store without worrying about currency exchange rates.
• Customer satisfaction: By providing more payment options, you enhance the shopping experience for your customers. Some customers may prefer to pay with crypto, and having this option could be the reason they choose to buy from you.
• Lower fees: Traditional payment methods often charge high fees. On the other hand, crypto transactions can have much lower fees, saving businesses a lot of money.
• Faster payments: Crypto transactions are processed almost instantly, which means faster business payments.
• No chargebacks: Crypto transactions mean quicker business payments from the risk of chargebacks.
• Better security: Cryptocurrencies like Bitcoin use blockchain technology, which offers unmatched protection. This can protect businesses and customers from fraud.
How To Accept Crypto Payments Shopify?
Integrating crypto payments in Shopify store involves two main steps: setting up a cryptocurrency payment system and activating a crypto payment gateway.
Shopify's cryptocurrency payment system is built to be user-friendly. It involves integrating a third-party payment processor that supports cryptocurrencies. With the correct setup, your Shopify store can accept a range of cryptocurrencies, offering your customers more flexibility and improving their shopping experience.
Crypto Payment Gateway Shopify
You'll need to set up a crypto payment gateway to accept crypto payments. This is a software application that allows for the processing of cryptocurrency to accept crypto payment transactions. Several crypto payment gateways are available, but CPAY is a standout option, thanks to its various features and strong security measures.
How CPAY Payment Processor Can Help You with Accepting Cryptocurrency on Shopify?
CPAY is an ecosystem specializing in crypto payment processing and creating white-label solutions for crypto projects. CPAY's crypto card is a licensed Mastercard partner that supports 180 countries, allowing cardholders to enjoy personal IBANs and nearly limitless spending and ATM withdrawals. It offers a range of features, including non-custodial wallets that support 19 cryptocurrencies across six networks.
Features of CPAY
CPAY offers a variety of features that make it an excellent choice for businesses looking to accept crypto payments on Shopify. Some of these features include:
- Three types of checkouts, with the ability to customize the checkout process to suit your needs.
- Automated checkout integration with your website.
- Real-time notifications of successful transactions.
- QR code and external wallet payment options.
- Multi Wallet support, with the ability to connect or import all your personal crypto wallet.
- NFT support and multichain NFT review.
- Crypto debit card with a personal IBAN, supporting 180+ countries for use.
In addition, CPAY provides extra low fees, flexible withdrawals, worldwide crypto acceptance, and unlimited payments. Its affordable integration process supports various cryptocurrencies, making it an ideal choice for various industries, including e-commerce, gaming, trading, SaaS, online education, non-profit organizations, and more.
Steps to Accepting Shopify Cryptocurrency Payments
There are two ways to start accepting crypto payments in your online store with CPAY.
- API integration
The team has developed a simple API integration for your online store on Shopify, which allows customers worldwide to pay in cryptocurrency for absolutely all products on your site. If you connect your online store to CPAY by API, the platform will transmit notifications about the status of payments.
How do you set up the integration?
1. Create an account on CPAY.
2. Choose the currencies you need.
3. Generate API keys.
The following steps are described in detail here. It is worth noting that you will need the help of a developer to set up the integration. Our team will quickly help you set up your API, and your online store will accept crypto payments tomorrow!
- Create the checkout without API
You can set up cryptocurrency payments for goods and services on your site without API integration. All you need to do is set up the function of accepting payments by checkout.
Cryptocurrency checkout is a payment gateway for paying for orders in cryptocurrency and withdrawing funds in fiat or cryptocurrencies.
Crypto checkout for e-com allows the merchant to generate a checkout with a list of all items and payment amounts for instant payment in crypto. In this case, there is no need to use third-party payment services. However, without an API connection, there will be no notification function; the platform will display all transactions for a particular checkout.
Shopify pay with crypto can open up new opportunities for your business, giving you access to broader markets, improving customer experiences, and offering better security. By integrating a crypto payment processor like CPAY, you can stay ahead of the curve and embrace the future of digital currencies in e-commerce.
Does Shopify support cryptocurrency payments?
Yes, recently, Shopify has supported cryptocurrency payments through several payment gateways. This allows merchants to accept a variety of cryptocurrencies as payment for their products or services.
How can I start accepting cryptocurrency on Shopify?
To accept cryptocurrency on Shopify, you must open an account with a crypto payment platform like CPAY. Set up CPAY cryptocurrency processor integration in your online store using API integrations. Or take the opportunity to set up cryptocurrency checkout specifically for e-com. This type of checkout allows customers to pay immediately from the cart on your site and pay with crypto.
What features does CPAY offer for accepting crypto payments?
CPAY provides a range of features such as three types of customizable checkouts, automated checkout integration with your website, real-time transaction notifications, QR code, external wallet payment options, and Multi Wallet support. It also offers a crypto debit card with personal IBAN, supporting usage in 180+ countries.
What cryptocurrencies can I accept on Shopify using CPAY?
CPAY supports BTC, ETH, BNB, TRX, DOT, MATIC, and 13 other cryptocurrencies across six networks. You can select the cryptocurrencies you want to accept during the Shopify setup process.