How to accept crypto payments? - page 5.

m2017

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Quote from: ashleyknight on November 01, 2022, 12:22:02 AM

I am wondering what are the ways to accept crypto payments in an online business. Should I share my wallet address and ask clients to send payments to it? Isn't it troublesome? Payments could be sent to the wrong wallet address and also it would be difficult to manage the transaction history. What should I do?

You can take advantage of the experience of other online businesses that accept payments in cryptocurrencies. That is, see how it looks on their website, you can even test it with a purchase to understand how it works. But it would be better if you turn to professionals (for example, on freelance platforms) who have experience in such an implementation and use their help. This will save you resources than if you personally tried to figure out this problem and look for a solution for it.

- Of course, you will need to provide your crypto-wallet address in order to receive payment. It will be better if this is a separate business address for working with clients.
- There is nothing complicated with paying cryptocurrencies, this is a myth.
- Payments can't be sent to the wrong address in any way, if the data is correct, this is also a myth. For your peace of mind, you can additionally use a QR code.

bitzizzix

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For beginners, I would recommend CapitalWallet, as I have accepted crypto payments for my business and have not faced any issues to date.
and the reason I ended up choosing CapitalWallet was its low conversion fees, and it only charges 0.5% while other exchanges have a 1% minimum conversion fee. And also, I got my funds on time which is great.
and it's just a recommendation that is not necessarily suitable for you and it all depends on your needs and comfort in using it.

Jawhead999

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Don't directly use your own wallet to receive a payment from your clients since it will harm your privacy concern, you need to use Bitcoin payment processor as you can read it in this thread List Bitcoin Payment Processors. I will recommend to use BTCPay Server since it has a complete feature and remain the best processor until now, the disadvantages is you need to set up the processors first, but they've a full guide to install it.

rhomelmabini

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Quote from: ryzaadit on November 01, 2022, 02:29:58 PM

Feel free to see on these list: https://github.com/alexk111/awesome-bitcoin-payment-processors

I think this was the curated list of payment processors and I would recommend OP to check this one if he want to experiment first, check if free is good compare to a paid service (of course if monetary budget is a question here). Yeah, sharing your wallet address has downside since clipboard hacking is possible.

ryzaadit

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Feel free to see on these list: https://github.com/alexk111/awesome-bitcoin-payment-processors

There a lot service payment processor gateway on there with various option, anyway my best advice for your question is better to ask more detail to the service it self. Since, everyone on here could be only advice you the payment processor not the detail.

Contact a support service would be nice.

kamvreto

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Many platforms provide crypto payment gateway services that you can easily use for your business. no need to bother to take care of the payment.
The payment gateway will do a quick and easy currency conversion that will be added to your website or online store.
Some of the recommended Payment Gateways are:

BitPay: Best overall crypto payment gateway for small businesses
Coinbase Commerce: Best for accepting multicurrency transactions
PayPal: Best for PayPal users
Shopify: Best e-commerce platform for crypto payments
ALFAcoins: Best for nonprofits accepting cryptocurrency donations

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Quote from: ashleyknight on November 01, 2022, 12:22:02 AM

Should I share my wallet address and ask clients to send payments to it? Isn't it troublesome? Payments could be sent to the wrong wallet address and also it would be difficult to manage the transaction history.

That is possible, but won't be scalable. An address mistake is also part of that method, well, actually some cryptocurrencies business always deal with wrong addresses or networks within the payment system, mostly from the user part.

Quote from: ashleyknight on November 01, 2022, 12:22:02 AM

What should I do?

Since you don't tell how you built or develop your online business, I'm gonna say that it is just the same as integrating a basic payment system using Stripe or Paypal, just try to find cryptocurrencies payment gateway services.

But if you want a more elaborate answer, try to answer first about, how you build your app or platform? What kind of cryptocurrencies you are willing to accept, and did you want to retrieve it in a cryptocurrency or FIAT? And how do you want to store the payment? on third-party or on your own.

Awaklara

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QR code is very easy to use. if you are going to use crypto or Bitcoin as a means of payment in your business. you do print your QR code and show it to the cashier. of course, you can print some QR Code addresses to make transactions easier.
what might make you a little difficult is updating the price of the product you market with crypto conversion as a means of payment. this is likely to require an additional application at the checkout to show the price to be paid using multiple methods.

dwminer1

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Currently, the acceptance of cryptocurrency payments is not a technical problem. There are many payment processors. From my experience, I can recommend bitpay: https://bitpay.com/online-payments/
I do not know what country you come from or what industry you operate in, but before you decide to accept crypto payments from your clients, I advise you to read the legal and tax topic in this regard. In many countries, this can cause more problems than benefits. Sad but true.

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Quote from: ashleyknight on November 01, 2022, 12:22:02 AM

I am wondering what are the ways to accept crypto payments in an online business. Should I share my wallet address and ask clients to send payments to it? Isn't it troublesome?

It's not troublesome, that's the traditional way to receive payments and there's no need to make things complicated.

Quote from: ashleyknight on November 01, 2022, 12:22:02 AM

Payments could be sent to the wrong wallet address and also it would be difficult to manage the transaction history. What should I do?

Nope, it's not going to happen. Each wallet address is unique and you can simply print the QR code for that wallet address so that your customers will just have to scan it for you.

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Quote from: ashleyknight on November 01, 2022, 12:22:02 AM

I am wondering what are the ways to accept crypto payments in an online business. Should I share my wallet address and ask clients to send payments to it? Isn't it troublesome? Payments could be sent to the wrong wallet address and also it would be difficult to manage the transaction history. What should I do?

There are various payment gateway systems provided by various third-party sites for accepting payments through cryptocurrencies. If you want to accept payments in cryptocurrency for your online business, you can set up payment gateways from third-party sites or if you've created a wordpress site, you can easily get some plugins to accept cryptocurrency payments that can be installed easily. You can set the payment gateway. By which a customer can easily pay you through cryptocurrency. And you don't have to give your personal wallet to anyone. A separate wallet will be generated for each customer. If you can't do it yourself. Then you can hire a dev to do it easily

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You can add and use a crypto payment processor in your online store so that every payment will be accommodated in the wallet provided by the payment processor, this is what you can learn about crypto payment processors https://nowpayments.io/blog/crypto-payment-processor-explained
If you want to accept crypto for your business then you must understand the volatilityof crypto price.

ashleyknight

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I am wondering what are the ways to accept crypto payments in an online business. Should I share my wallet address and ask clients to send payments to it? Isn't it troublesome? Payments could be sent to the wrong wallet address and also it would be difficult to manage the transaction history. What should I do?

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