Platforms like Shopify and Paypal are now accepting cryptocurrency as a payment mode. Online shopping and payments have never been as advanced and efficient as it is today. All credit goes to the advanced technologies and cryptocurrency landscape that boomed the familiarity with the concept of digital currencies. Day-by-day eCommerce retailers recognize and consent to crypto as a valid form of online payment.
Isn’t this good news? But, how to use crypto over such platforms?
Let’s take a deep dive to understand the overall working of Shopify and PayPal with crypto.
How did Shopify enter the Crypto space?
Shopify is one of the top and user-friendly eCommerce platforms allowing small businesses to develop online sales and store through one streamlined dashboard. The platform served millions of merchants across the globe, making it easy to create and sustain a strong online presence. To do so, the platform initiated its step into the cryptocurrency space.
Apart from Shopify payments and third-party providers including Paypal, Amazon Pay, Meta Pay, and Apple Pay, Shopify is now accepting cryptocurrency payments. This all began in 2020 when Shopify partnered with the cryptocurrency payment gateways including BitPay, CoinPayments, and Coinbase Commerce. The purpose was to offer an innovative and effective digital payment platform. As a result of this, Shopify is now accepting more than 1,800 different digital assets including Bitcoin, Litecoin, Ethereum, etc. as online payments.
Steps to Make Crypto Payment on Shopify
In a world full of competition, no one wants to turn their customers away because of not having the preferred payment methods. Shopify not only adopted crypto payments but also made it easy for customers to make payments in crypto.
Here are the steps to add crypto payments to Shopify.
The payment provider page on the Shopify admin dashboard monitors the game. The page allows one or more of the cryptocurrency payment methods including CoinPayments.net, Coinbase Commerce, and BitPay. Enabling the platform simply helps in accepting Bitcoin, Ethereum, or any of the digital currencies. Now the customers are ready to make payments in cryptos. In addition, choosing the new platform does not influence the current payment options.
Cryptocurrency is gaining popularity quickly and attracting merchants and customers towards the same for payments. To remain competitive, Shopify accepts the payment mode, offering more reliable, convenient, and safer payment options. Low transaction costs and instant worldwide payment are some major benefits of accepting crypto payments.
In addition, PayPal also supports the transfer of digital currencies between Venmo, PayPal, and other supported exchanges and wallets. Sending, receiving, and transferring cryptos become easy with PayPal. Selecting the receiving option in the PayPal account, choosing the type of cryptocurrency, and using the crypto address is the easy step to work with crypto on the PayPal platform.
Shopify, one of the leading eCommerce platforms is now accepting cryptocurrencies as a new payment method. Selecting the cryptocurrency payment gateway in the payment page in the Shopify admin dashboard allows acceptance of cryptocurrencies. In addition, Shopify accepts 1800+ cryptocurrencies and works with platforms including CoinPayments.net, Coinbase Commerce, and BitPay.