How Small Businesses Can Accept Bitcoin?

As a forward-thinking entrepreneur, only having a website for your business isn’t going to be enough. Apart from that, you’ll need to integrate new payment options within it too.

And, amongst the alternatives, Bitcoin should be a part of your plan.

I mean, yes, it’s true that Cryptocurrency as a form of payment isn’t quite mainstream yet. To tell you the truth, it’s quite enough to put you off of the idea of accepting Bitcoin.

But, think about it for a second.

Looking back at 2015, barely anyone knew about Bitcoin as a whole. And, six years later, it’s become quite a common term amongst the gen-Z and tech magnets.

Now, if you want to attract them to your business, you must find a way to get their sole attention. And, how are you going to do that?

By accepting BTC as a form of payment!

In this blog, we’ll tell you how you can integrate Bitcoin into your payment infrastructure. But, it might sound a little convoluted for beginners. Thus, if you are confused about something, don’t forget to ask about it in the comment section below.

Accepting Bitcoin – How Should You Begin?

Incorporating Bitcoin into your core payment system can be difficult and, to some extent, quite expensive as well. However, once you’re done with it, the whole infrastructure can be highly profitable for you. Read the British Bitcoin Profit Review to get more insights on it.

Step – 1: Understand The True Meaning Of Crypto Payment.

“Check yourself before you wreck yourself.”

Accepting something new without any knowledge isn’t a good idea, especially for a budding business. And, the same goes for Bitcoin too. Thus, before you make any move in the market, it’s best to know a little about what Crypto payment actually is.

Usually, Cryptocurrency is treated as a form of investment. You can purchase it and hold the same for some time until it builds its value even more. Once it gains the right monetary boost, you can sell it again for a hefty amount of profit.

However, in today’s world, you can buy something, such as a car, with Cryptocurrency too. It functions as a form of a P2P payment and, thus, is secure to the bone. Besides, the additional payment you have to make for a transaction is quite low too. So, that’s another benefit.

Step – 2: Incorporate A Crypto Gateway.

“Onto the business.”

Bitcoin, in essence, is unregulated and decentralised. Thus, it won’t be possible for you to get or accept it without something special, like a unique Crypto gateway.

Now, if you want to accumulate, store, and use Bitcoin personally or for your business, you’ll need to get a Crypto wallet. However, if you wish to convert the same into a conventional fiat currency, you’ll need to opt for a Crypto payment gateway.

Now, handling both of these options at once can be a little difficult and expensive, especially for a small business owner. Hence, we’ll ask you to opt for something that offers a two-in-one service, like BitPay or Coinbase. They come with both gateway and wallet functionalities.

Step – 3: Integrate It Into Your Online Checkout.

“The final play.”

So, you have a Crypto gateway/wallet setup already, right? Well, then, it’s time for you to put it on your online website and enable the same as a payment option. You can do it through two different approaches. These are –

1. Application Or Plugin

If you have built your website on WordPress, you’ll find a plugin or two there. You can use it on your platform to ensure that your audience can pay even when they’re buying something online. All you need to do is download them from WordPress and install them on your site.

2. Open-Source API

Almost every self-hosted wallet comes with an open-source API. Thus, if you’re a tech-savvy person, you can install it quite simply by using a custom HTML code. It might require a little more technical resources than usual. But, you can customise how it all looks and feels too.

Is There Something Else You Should Know?

Well, yes.

The process of Bitcoin payment integration on a website can be done quite easily. We mean, there are only three steps in the whole procedure, you know. But, the unpredictable valuation of the market makes quite a risky investment on your part.

So, before you put all your money into it, try to see if you can afford the initial fee or not. It might also be better for you to calculate the possible amount of sales you can generate with it. Business is not always about “taking the dicey road and let’s see what happens,” you know.

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