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 (if you’re in the market for a theme, checkout our roundup of the best cryptocurrency WordPress themes).
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
This article was written by Megan Jones and originally published on WPExplorer.