How to Accept Crypto Payments as a Business by Sarah Kutu

How to Accept Crypto Payments as a Business
Date: September 16, 2024

Card payments and online banking are popular payment methods among conventional businesses. Today, businesses accept digital payments via various channels to offer their customers convenient and fast payments. However, cryptocurrencies have stepped in to provide competitiveness in the global market. 

Many e-commerce businesses and fintechs now accept crypto payments like Bitcoin and Ethereum because of their growing popularity among modern shoppers and customers. These businesses embrace popular cryptocurrencies to unlock a new customer base and achieve cross-border sales. This article explains how to accept crypto payments as a business. Keep reading!  

Why Should You Accept Bitcoin Payments? 

Before going into the details of how to accept crypto payments as a business, it’s crucial to understand the importance of integrating crypto payments into your business. 

International Reach and Visibility 

Unlike traditional payments that are often limited to certain locations, crypto payments are borderless. This is because cryptocurrencies are not controlled by entities like the central banks or governments. So, offering Bitcoin and other cryptocurrencies as payment methods makes it easy to transact on a global scale. 

The more crypto payment options you incorporate, the broader your reach and visibility across diverse crypto users who can potentially become your customers. 

Lower Costs Than Credit or Debit Cards

Bitcoin payments offer you diverse opportunities to save some costs associated with traditional payment methods. For instance, you need to cover international fees, card processing fees, and other charges that come with card transactions. 

For instance, the average card processing fee is between 3% and 4%, and merchants cover these charges. However, crypto transactions do not require processing fees. Moreover, most crypto payment gateways charge extremely low fees. That way, you don’t have to bother about avoidable costs that traditional merchants pay. 

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Faster Transactions 

Another reason to consider accepting crypto payments as a business is transaction speed. Traditional payment methods like online transfers, e-checks, credit cards, and wire transfers take longer periods to complete, especially for international transactions. These delays happen because of the various checks done by banks and payment providers. 

However, Bitcoin transactions are on the blockchain, and there are no middlemen. As a result, transactions are processed instantly. For instance, an international payment via credit card may take 3 days to complete, while crypto transactions take only a few minutes. 

No Chargeback Risks 

Regular cash transactions are not final. So, as a merchant, you may have to deal with chargebacks and payment disputes from time to time. Incidentally, cashback fees cost $25 per transaction on average. These charges can add up over time if there are many payment disputes from customers. 

Conversely, cryptocurrency payments always attain finality. Once a transaction is processed, it must be completed on the blockchain. So, you don’t have to bother about settlement disputes or chargebacks that cost extra money. 

Improved Security 

Every financial transaction is inherently risky due to hacks and security breaches. However, fiat transactions are riskier. This is because many parties are involved – from the point of initiating transactions to payment gateways and the financial institution that will validate the transaction. A security breach at any level can cause loss of funds or data theft. 

With cryptocurrencies, transactions happen on the blockchain, which is more secure than traditional payment systems. With high-end encryption technology, increased sensitivity, and decentralized transactions, there’s improved security and transparency that fiat transactions lack. 

How to Accept Bitcoin Payments for Businesses 

Now that you have a clear understanding of how accepting crypto payments as a merchant can transform your business, here’s a quick guide on how to get started:

Set Up a Crypto Wallet or Payment Gateway

The two most common ways to accept crypto payments as a merchant is to create a crypto wallet or integrate your website with a crypto payment gateway. With a crypto wallet, you can easily generate a Bitcoin wallet address or an Ethereum address for your customers to deposit funds. However, crypto wallets won’t convert your digital assets to fiat. 

That’s where a crypto payment gateway comes in. With the payment processor, you can either store your funds in crypto or convert them to fiat automatically. However, it’s important to note that Bitcoin wallets usually don’t charge transaction fees, while payment processors may come at a small cost. 

Add Crypto Payments to Your Checkout 

Setting up Bitcoin payments on your website’s checkout is another option to consider. Interestingly, you don’t have to build from scratch because there are many white-label solutions with fast plug-and-play systems for seamless integration with your e-commerce website. 

Consider In-Store Crypto Payments 

Though most businesses focus on online payments when thinking of cryptocurrencies, you can cater to customers who shop from your store in person. A good way to get them onboarded is to have your wallet’s QR code displayed as a payment option. 

You can also use a near-field control (NFC) terminal that enables cryptocurrencies for in-store payments. Another great alternative is to get a crypto-enabled POS terminal for direct Bitcoin payments. 

Conclusion 

As cryptocurrencies are fast becoming popular alternatives to traditional payments for online businesses, adding Bitcoin and other assets to your options can boost your reach and increase your customer variety. 

However, before adopting crypto payments for your online business, it’s crucial to understand the crypto-related regulations in your location. Currently, the regulatory landscape is unclear, with varying laws from one state to another in the US, and from country to country internationally. 

Speak with an attorney or an accountant to know the position of the law around using crypto for businesses in your locale. 

Zypto Has White-Label Crypto Payment Solutions for Businesses

Whether you prefer the crypto wallet option, a crypto payment gateway, or want to integrate Bitcoin payment solutions into your e-commerce website’s checkout, Zypto has various crypto solutions for all businesses. 

These include the Zypto Pay crypto payment gateway, crypto wallets and custody tools, and other white-label solutions you can leverage to embrace crypto payments for your business. 


Have you ever paid for a product or service using Bitcoin? Or have you received crypto payments from your customers in the past? Share your experiences below. 

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FAQs

Yes, any business in the US can accept Bitcoin payments via a crypto wallet or by using a crypto payment processor.

Numerous digital wallets allow you to buy, sell, and hold Bitcoin. Popular options include Zypto, PayPal, Venmo, Cash App, and Apple Pay (Via BitPay).

Like cryptocurrencies, Bitcoin payment gateways are highly secure. Usually, they employ security features like encryption and multi-factor authentication (MFA) to safeguard users’ funds and data.

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