It’s one of the most important question in e-commerce which sounds no less dramatic than ‘to be or not to be’ in Hamlet’s speech: ‘Should I accept Bitcoin on not?’ Bitcoin has been promoted by such e-commerce giants as Overstock and Microsoft, as well as a growing number of merchants in nearly all sectors of online shopping.
The world’s most popular cryptocurrency is becoming a great alternative to payment providers such as PayPal and other credit card services. It is not surprising there are a lot of Word Press plugins which allow merchants to accept Bitcoin.
Advantages of cryptocurrency WordPress plugins:
- zero or minimum transaction fee (cheaper than PayPal);
- no chargebacks;
- minimized fraud risk;
- reaching out to new markets;
- increase the number of customers;
- rising value of Bitcoin can make you rich.
We’ve done a pretty good job of putting together the most popular Bitcoin plugins for WordPress websites. We’ve also determined what makes each different than the next.
BLOCKONOMICS — FOR THOSE WHO PREFER TO DEAL WITHOUT INTERMEDIARIES
Blockonomics allows you to accept payments directly, bypassing the central wallet of the payment gateway. Initially, the plugin was conceived as a completely decentralized system, which does not need intermediaries and allows to save additional transaction fees. Blockonomics transaction fee is 1%, the first 10 transactions are free.
COINBASE — FOR PEOPLE WHO NOT KNOW MUCH ABOUT WALLETS & EXCHANGES
Coinbase is the most popular exchange in the world, which has recently presented the option to transact both Bitcoin and Litecoin through Coinbase Commerce. At first glance, free transactions seem like an excellent idea, but their implementation may become a challenge because of nonexistent customer support. However, as experienced bitcoiners know, Coinbase is a reliable training ground before kickstarting.
BITPAY — FOR SELLERS WHO NEED AUTOMATIC CONVERSION TO CASH
BitPay is one of the first crypto-exchanges, therefore, it used by most online stores and e-commerce websites that accept bitcoins. However, BitPay has certain restrictions on the offered goods and services, especially those in risky industries. Transaction fees start at 1% and up.
COINGATE – FOR MERCHANTS INTERESTED IN MAKING CRYPTOCURRENCY EXCHANGES
Coingate not only allows to accept Bitcoin on e-commerce websites. It also allows you to buy cryptocurrencies right on its site and exchange bitcoins for the euros. The transaction fee is limited at 1% and is also ahead of the curve in relation to Lightning beta payments.
COINPAYMENTS — FOR ACCEPTING ALTCOINS
CoinPayments is popular among those who are not only interested in bitcoin accepting. Most payment systems accept altcoins using a Shapeshift integration, however CoinPayments initially supports Ethereum, Litecoin, and over 800 other cryptocurrencies. Transaction fee is 0.5%. CoinPayments offers an in-person, point-of-sale interface for those with brick & mortar locations. Another nice feature of the service is the ability to make payments with zero confirmation using the Woocommerce plugin.
Now is the time to add Bitcoin as a payment option on your website. With 2018 reaching affordable value, collecting Bitcoin as a payment may lead to future gains, as Bitcoin heads back upwards for the latter half of the year. It’s possible that $500 spent on Bitcoins in August will turn into $1000 by the end of the year!