How to Use Cryptocurrency in eCommerce
First, you must integrate a cryptocurrency payment gateway into your eCommerce platform. Once the software is incorporated, customers can select cryptocurrency as their payment method during checkout. The gateway will generate a unique address for the clients to send the payment. After receiving funds, the payment gateway will deposit funds into the merchant's wallet.
Key Features of a Cryptocurrency Payment Solution for E-Commerce
The payment solution should be easily integrated with the eCommerce website or platform. With BitHide, you install it on your servers and get the process up and running in less than a day.
The solution should serve multiple cryptocurrencies to provide customers with various payment options. For example, BitHide lets you Bitcoin eCommerce payments, Ethereum, Litecoin, Tron, and others.
The solution should provide a safe payment process for merchants and customers. BitHide's technology allows for the complete anonymity of the transaction parties. Moreover, it detects transactions coming from suspicious accounts and quarantines them.
The solution should provide instant payment confirmation to the customer and merchant. It is necessary to avoid delays in processing orders. BitHide's confirmation follows the initial transaction instantly.
The solution should have low transaction fees to make it cost-effective for the customer and merchant. For example, our solution has a tool that automatically withdraws funds during the lower blockchain commissions.
The solution should have a user-friendly interface that is easy to navigate. At BitHide, we have a straightforward interface that merchants find user-friendly. As a result, BitHide's accounting functionality is easy to understand and easy to use.
The solution should provide reliable customer support to handle any issues arising during the process. In case of payment troubles, you will get immediate help from BitHide.
Benefits of Cryptocurrency in eCommerce
The trend of cryptocurrency eCommerce is on the rise. However, if you are still vague about whether your e-store needs to accept coins, just overview the major advantages of this payment option:
Lower transaction fees.
Traditional methods like credit cards often cost more.
Faster transactions
Cryptocurrency transactions are processed faster than traditional payment methods. Bank transfers can take several days to clear.
Enhanced security
Cryptocurrencies offer enhanced security. They do so through encryption and decentralized networks.
Global accessibility
Cryptocurrencies can be used for transactions worldwide.
Improved customer privacy
Cryptocurrencies offer enhanced privacy and anonymity. This is because transactions do not require personal information like credit card details.
Increased sales opportunities
By accepting cryptocurrencies, eCommerce businesses can tap into a new market of tech-savvy customers who prefer to use digital currencies for transactions.
How to Accept Payments in Cryptocurrency
- Choose a cryptocurrency gateway provider. Do your homework and select a provider that meets your business needs. For example, if you need a secure payment gateway, we recommend using BitHide.
- Set up a wallet. You will need to set up a cryptocurrency wallet to receive payments. For example, once you set up your BitHide wallet, you can create as many sub-wallets as you need. This allows for accepting crypto from multiple projects.
- Integrate the crypto gateway. The integration process of BitHide is simple. Book a quick call with our tech guys; they will help you set everything up in less than a day. There is no need to hire extra tech specialists.
- Display payment options. Display cryptocurrency payment options on your checkout page. Add a link to BitHide's wallet at checkout.
- Receive payments. Once a customer makes a payment in cryptocurrency, BitHide will process it and transfer it to your wallet.
Integration options
- Send us your request, and we'll share the app.
- Complete the integration, and then you can start accepting cryptocurrencies as a payment option for your clients.
Regarding BitHide, remember the extra step to install the solution on your server. Since it's your server, you are the only data owner. Thus, no third party can access your private information
Advantages of BitHide Cryptocurrency Payment Gateway for E-Commerce
At BitHide, we prioritize anonymity in our crypto wallet. So we take measures to prevent the disclosure of transaction details to third parties. We can fulfill this commitment because the data is stored on your servers by default. This ensures that no one other than you has access to this information. Additionally, our advanced level of anonymity makes it impossible for third parties to detect your IP address.
Since the software is installed on your servers, you become the sole host of transactions. This allows you to ensure the security of your funds and data.
BitHide's technology is designed to detect and flag potentially risky transactions. When a questionable payment is seen, the software immediately differentiates and stops it. These transactions are later separated from the main account. Then, they are directly placed in a separate account where you can safely withdraw the funds.
To maintain the trustworthiness of your wallet, it's crucial to avoid suspicious activity. We achieve it by keeping your IP address concealed. We utilize our customized Dark Wing technology that combines TOR and VPN to hide your IP.
Upon installing BitHide, you can connect multiple merchants to a single account. This allows for efficient management of transactions from various sources in a single location. In addition, the software enables the connection of all eCommerce stores to one wallet. You can also access analytics for all online businesses in a single place.
Automating the withdrawal process is crucial in the face of exchange rate and fee fluctuations. In addition to automating fund withdrawals, BitHide offers even more features. One of them is auto and API-driven transactions. It helps to reduce the costs associated with this process.
As your company grows, more staff members need access to your crypto wallet. Therefore, it's crucial to keep the process transparent and ensure that only authorized personnel can access specific data. BitHide distinguishes access rights and corresponding functionality, giving you control over who can access what information.
FAQ
Which crypto payment processor to use for eCommerce?
The best crypto payment processor for your eCommerce business will suit your needs. We recommend using a crypto processing tool that can be branded following the client's standards. You can do it with BitHide, and as a result, there is an internal checkout process.
How do I accept crypto payments on eCommerce?
To accept crypto eCommerce payments with a gateway like BitHide, follow the next three steps.
- Step 1: Set up a merchant wallet account.
- Step 2: Connect the eCommerce crypto payment solution to your software.
- Step 3: Integrate the cryptocurrency options into your points of sale.
How do I integrate crypto payments on my website?
To integrate crypto payments on your website, choose a gateway supporting cryptocurrencies and create an account. Next, you can generate a payment button or API key to add to your website's checkout page to enable customers to pay with cryptocurrencies. Once the customer pays, the payment gateway will handle the transaction. Finally, it will deposit the funds into your designated cryptocurrency wallet. The BitHide crypto payment gateway is straightforward to include in your current processes. Send us your request, and we'll let you download the app. Complete the integration, and then you can start accepting cryptocurrencies as a payment option for your clients.
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