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Shopify Crypto Payment Methods
Pay with Bitcoin, Ethereum & Co in the Shopify Shop
Shopify Crypto Payment Methods - Alternative Payment Methods in Shopify
Not only is trade becoming more and more digital, which of course plays into your cards as an online retailer, but also the payment methods, incl. the payment methods. used currency deviates from the conventional and always goes in the direction of alternative currencies and payment methods. What’s behind it, how you set it up in Shopify and also use it for your online store, that’s the content of this video. However, if you’d rather take the shortcut and dedicate your time to your core activities, then as a Shopify agency we’re more than happy to support you. We can support you as an online retailer holistically, be it in the construction or optimization of your store, to troubleshooting, the internal, as well as external marketing and much more.
Shopify crypto payment methods - where to find them in the backend?
But now to our alternative payment methods. By the way, you can find them in the store backend in the settings under payments and “alternative payment methods”. It states that these are “External payment methods that can be used in addition to a third-party provider or Shopify Payments “. Here we can find providers like Paymentwall, BitPay, Coinbase Commerce and a whole lot more. Some of you will have noticed that you have seen some of the logos before. With one of the most popular alternative currencies, whose demand is growing more and more is the cryptocurrency Bitcoin. To pick up all viewers in this video, a brief explanation of what cryptocurrencies are and how far Bitcoin fit in.
What are cryptocurrencies?
First, on relevance. 220 million people use cryptocurrencies worldwide – as of June 2021. These are digital assets that can also be used as a means of tasuch. So just for example. Bitcoin for merchandise in your Shopify store. The asset attributions are thereby recorded in a decentralized database, often a so-called blockchain. These Bitcoin can be stored on wallet addresses that are protected from third-party access with a digital key. So well protected that you can’t even get to it via a “forgotten password” link like you can with an email address. This led, for example, to to the fact that the German programmer Stefan Thomas can no longer get to the hard drive containing 7,002 Bitcoin worth $240 million.
Alternative payment providers
But besides Bitcoin, there are other cryptocurrencies like Ethereum, Ripple, Dash, NEO and several thousand more. But that would go beyond the scope of this article. At least now you know what it is all about. But how can you use them now in the Shopify store? Among other things, this is made possible by an API interface. If you want to know more, the video is linked at the top right.
Payment providers like Coinbase Commerce, BitPay and CoinCommerce accept cryptocurrencies and are also among the alternative payment providers in the Shopify backend.
How to integrate crypto payment methods into Shopify
Let’s now take BitPay as a proxy. Then you first need an account with BitPay. The pricing model is quite simple, you only pay 1% per transaction. Once you have created your account, you will need to create an API token in BitPay, which you will then enter into Shopify. Remember back to the beginning of the video, how we got to the Alternative Payment Providers. Here you will now also find BitPay. You have to enter the API token from BitPay here and then click on “Activate BitPay”. You can then use it to activate cryptocurrencies in your store.
If you have any questions, please contact eBakery
What are your experiences with it? If you have already collected some, feel free to write it in the comments. Otherwise, you can also make an appointment with the experts from eBakery directly here.
Do you have questions or need an individual offer? Do not hesitate to contact us.
Haben Sie Fragen oder brauchen ein individuelles Angebot? Zögern Sie nicht, uns zu kontaktieren.
