As cryptocurrencies are becoming more and more popular, the idea of accepting Bitcoin (and other digital currencies) on your WordPress website as a way of payment is something that is worth considering. But how do you get started with cryptocurrency? And how do you process Bitcoin payments with WordPress?
In this article, we discuss what Bitcoin is, and consider the benefits of accepting this digital currency, and other altcoins, on your site. We then look at what tools you will need to start receiving Bitcoin as payment, including Bitcoin wallets, digital payment processor services, and cryptocurrency WordPress plugins.
By the end of reading, you will know how to set up the taking of Bitcoin payments with WordPress. And you will have a good understanding of the services and plugins available to help you do so.
An Introduction to Bitcoin
Due to the recent press attention is doubtful that you haven’t heard of this popular cryptocurrency. Bitcoin is a decentralized digital currency, that works without a central bank or single administrator. It was originally created by a person or group of people in 2009 and released under the name Satoshi Nakamato.
The value of Bitcoin has quickly grown in recent years and it is now the most well-known cryptocurrency of all. However, there are in fact over 1000 cryptocurrencies currently in circulation. Other popular Cryptocurrencies include…
Mining and making direct purchases in Bitcoin are two methods widely used by investors to grow their Bitcoin stock. However, taking payments online in Bitcoin is becoming more and more common. So if you run an eCommerce store, or accept payments online for services or other reasons, then offering Bitcoin (and other cryptocurrency) payment options is a good idea.
What Are the Benefits to Accepting Bitcoin Payments?
There are numerous benefits to taking Bitcoin payments on your WordPress website. Let’s have a look at a few of them…
- Bitcoin can be accepted from anyone, anywhere in the whole world. So you aren’t excluding those who haven’t got credit cards, or a PayPal account, from making a purchase on your site.
- Bitcoin comes with a cloak of anonymity, as those making a payment don’t have to part with any personal information. This will appeal to many buyers who are unsure about sharing sensitive data online.
- Bitcoin is a peer-to-peer digital currency, so a third-party banking service is not necessary to complete a transaction. This keeps Bitcoin transaction fees low.
So now we know a bit about Bitcoin and why you should consider accepting it on your WordPress website. Let’s next look at what you need to get started…
What You Need to Get Started
Before you can accept Bitcoin payments with WordPress you will need to …
- Create a Bitcoin Wallet
- Sign Up with a Digital Payment Processor Service
- Install a Cryptocurrency WordPress Plugin
Let’s have a look at each of these in detail…
1. Create a Bitcoin Wallet
A Bitcoin wallet is where you can safely store your Bitcoins once earnt. (This isn’t technically correct – a Bitcoin wallet is actually a software program that contains your private Bitcoin data/keys).
Wallets can be stored on your desktop, on hardware, on your mobile or on the web. And for each platform there are numerous wallet options, so do your research before making a decision on which one is best for you.
It is worth bearing in mind that some digital payment processor services actually provide an online wallet service (Bitpay and CoinBase). Whereas other payment gateways simply deposit Bitcoin funds as equivalent currency into your bank (Mollie), resulting in you not needing a Bitcoin wallet at all.
2. Sign Up With a Digital Payment Processor Service
A digital payment processor service will enable you to take Bitcoin payments on your WordPress website. Although not crucial, it is the easiest way to accept Bitcoin, and other altcoins.
Once you have accepted a Bitcoin payment on your site, a payment processor will then automatically deposit the Bitcoin into your wallet. It also provides the option of transferring your Bitcoin into your local currency and depositing it into your bank account.
Here are just a few digital payment processor services that you can sign up with…
Bitpay provides a popular Bitcoin wallet and payment processor service. This solution works by enabling Bitcoin payments with WordPress to be sent directly to your Bitcoin wallet and/or bank account in the currency of your choice.
Bitpay can send funds to banks in over 38 countries, and in numerous currencies. It is also integrated with over 40 eCommerce platforms and solutions, supporting, WooCommerce, Gravity Forms, Shopify, and many more.
An alternative to Bitpay is CoinBase. This digital platform and online wallet service can deal with payments from your WordPress website in Bitcoin, Ethereum and Litecoin. These cryptocurrencies can then be sent to your altcoin wallet. Or exchanged by CoinBase into your local currency and sent to your bank account.
CoinGate is a digital payment processor service that accepts over 45 cryptocurrencies. A Coingate WooCommerce plugin will quickly allow you to integrate your online store with Coingate’s service.
Once set up, CoinGate works in a similar style to the previous two payment processors mentioned, transferring funds from your website into your bank account or your digital wallet. (Although CoinGate doesn’t provide its own online wallet service, it recommends using the Digital wallet Electrum).
3. Install a WordPress Plugin
Once you have chosen a digital wallet and signed up with a payment processor service, it’s time to add Bitcoin payment integration to your WordPress website. There are a number of plugins available that provide this function. Let’s have a look at a few of the best…
Bitpay for WooCommerce
If use WooCommerce on your site, and Bitpay sounds like the right payment processor service for you, then the Bitpay for WooCommerce plugin is a great option. To get started with Bitpay, simply sign up using a ‘Business Account’.
Next, install the Bitpay plugin on your WordPress website. Then follow the Bitpay instructions to connect your WooCommerce store to your Bitpay account. Once completed your online shop will be able to take payments in Bitcoin.
For support on how to connect your WP eCommerce or Shopify store, or other open source plugins or integrated solutions, check out the Bitpay Documentation.
Coingate for WooCommerce
CoinGate might be a better fit than Bitpay for your WooCommerce site, as it enables you to receive payment for products in numerous cryptocurrencies. To receive Bitcoin payments with WordPress on your online store via Coingate, you will need to install the CoinGate for WooCommerce plugin.
Next, you need to sign up with CoinGate by clicking on ‘Create an Account’ in the top hand corner of the homepage.
Then follow the CoinGate instructions to connect the two solutions. This is a quick and easy process and once completed you will be able to accept Bitcoin and other altcoin payments on your WooCommerce site.
Easy Digital Downloads – Coinbase Payment Gateway
Easy Digital Downloads is a popular free WordPress plugin for those selling digital products on their WordPress website. Coinbase Payment Gateway is offered as a premium add-on for websites using Easy Digital Downloads. It allows you to accept Bitcoin payments on your site, using Coinbase as the payment processor.
To get started you need to purchase the Coinbase Payment Gateway from the Easy Digital Downloads website. Then install it on your WordPress website.
Next, sign up with Coinbase. Then follow the Coinbase Payment Gateway Setup Documentation to connect Coinbase with your website. Once set up, you will be able to receive Bitcoin payments with WordPress for the digital products on your site.
Digital Paybox is another premium plugin that will enable you to take Bitcoin in exchange digital downloads. This solution integrates with numerous payment gateways, but uses Bitpay to accept Bitcoin.
Easy to install and setup, Digital Paybox enables customers to decide how much they would like to pay for a digital product. You can set a minimum payment (or a fixed price if you prefer) so this plugin is a good option if you are looking to receive donations for your digital downloads. Once a payment has been made, Digital Paybox automatically sends a temporary encrypted link to the buyer via email, allowing them to receive the digital product.
Mollie Payments for WooCommerce
Mollie is a payment gateway solution that is committed to making online payments easier. One of their many payment options is Bitcoin. The Mollie Payments for WooCommerce is one of their free plugins that will enable you to quickly integrate all major payment systems, including Bitcoin, with your WooCommerce site.
To get started, sign up with Mollie and install the Mollie Payments for WooCommerce plugin on your website. Once a customer has paid in Bitcoin, you will receive the corresponding amount in Euros. And as Mollie processes all your Bitcoin payments with WordPress and sends it directly to your bank, you won’t even need a Bitcoin wallet.
GoUrl – Bitcoin Payment Gateway, Paid Downloads and Membership
GoUrl is a cryptocurrency payment gateway. The GoUrl WordPress plugin, GoUrl – Bitcoin Payment Gateway, Paid Downloads and Membership, will enable you to accept Bitcoin payments with WordPress. However, GoUrl will not transfer Bitcoin into cash, it will only forward payments to your Bitcoin wallet. This plugin will also accept other cryptocurrencies on your WordPress website including Litecoin, Dash, BitcoinCash, and many more.
The GoUrl plugin will enable your visitors to pay altcoin for products, digital downloads, page views, and membership subscriptions. GoUrl also provides a number of other extension plugins, including GoUrl for WooCommerce and GoUrl Bitcoin Donations.
Final Thoughts on How to Process Bitcoin Payments with WordPress
As you can see, there are a variety of plugins and methods available to enable you to process and accept Bitcoin payments with WordPress. The tools you choose should depend solely on your site, and the needs of your audience. And remember, you can always trial a few different solutions to see what works, and ensure you find the best-fit Bitcoin solution for your site.
Which Cryptocurrency plugin will you select to help you accept Bitcoin payments with WordPress? Please share your thoughts in the comments below…