My girlfriend starting accepting BTC in her online boutique. Any feedback would be appreciated. I was only able to integrate it by using Coinbase Commerce. If there is any other way to accept bitcoin as payments through Shopify please let me know, it would be greatly appreciated.
Just took down our Big Cartel online store and switched to Shopify so we can accept bitcoin.
We accept bitcoin in our shop but were unable to accept it online because we used Big Cartel. Switching over to Shopify was pretty easy, and integrating Bitpay was really straightforward as well. I'm guessing it will probably only take a handful of merchants switching over to Shopify to convince Big Cartel to integrate Bitpay.
Provide White label services for ICO & blockchain projects
Comprehensive crypto payment API
Point of sale mobile app
8 Mainstream E-commerce shopping carts for crypto payment
WooCommerce / WordPress
ForgingBlock is supporting the spirit of peer-to-peer electronic cash, to build a decentralized economic infrastructure for the Blockchain network. Businesses of all sizes — from new startups to public companies — use our software to accept cryptocurrency payments and manage their businesses online.
For someone not familiar with Bitcoin, the first question that comes to mind is, "What is Bitcoin?" And another common question that is often asked relates to the Bitcoin price. It started out a under 10 cents per Bitcoin upon its introduction in early 2009. It has risen steadily since and has hovered around $4000 per Bitcoin recently. So regarding Bitcoin value or the Bitcoin rate this is a most remarkable appreciation of value and has created many, many millionaires over the last eight years. The Bitcoin market is worldwide and the citizens of China and Japan have been particularly active in its purchase along with other Asian countries. However, recently in Bitcoin news the Chinese government has tried to suppress its activity in that country. That action drove the value of Bitcoin down for a short time but it soon surged back and is now close to its previous value. The Bitcoin history chart is very interesting. Its creator was an anonymous group of brilliant mathematicians (using the pseudonym Satoski Nakamoto) who designed it in 2008 to be "virtual gold" and released the first Bitcoin software in early 2009 during the height of the USA economic crisis. They knew that to have lasting value, it like gold had to have a finite supply. So in creating it they capped the supply at 21 million Bitcoin. Bitcoin mining refers to the process by which new Bitcoin is created. With conventional currency, government decides when and where to print and distribute it. With Bitcoin, "miners" use special software to solve complex mathematical problems and are issued a certain number of Bitcoin in return. A question that then arises is, is Bitcoin mining worth it. The answer is NO for the average person. It takes very sophisticated knowledge and a powerful computer system and this combination of factors makes it unattainable for the masses. This applies even more to bitcoin mining 2017 than in past years. Many wonder, who accepts Bitcoin? This question gets asked in various ways, what are stores that accept bitcoin, what are websites that accept bitcoins, what are some retailers that accept bitcoin, what are some places that accept bitcoin and where can I spend bitcoin. More and more companies are beginning to see the value of accepting cryptocurrencies as a valid payment option. Some major companies that do are DISH network, Microsoft, Expedia, Shopify stores, Newegg, Payza, 2Pay4You, and others.Two major holdouts at this time are Walmart and Amazon. Ethereum is the strongest rival to Bitcoin in the cryptocurrency market and many wonder at the question of Bitcoin vs Ethereum. Ethereum was created in mid-2015 and has gained some popularity but still ranks far behind Bitcoin in usage, acceptance and value. A question that often comes up often relates to Bitcoin scam. This author has a friend who made a purchase from a company that promised 1-2% growth per day. The company website listed no contact information and after a couple months the website simply vanished one day and my friend lost all the money he had invested which was several thousand dollars. One has to know how to buy Bitcoins, how to purchase Bitcoin or how to buy Bitcoin with credit card in order to get started. Coinbase is a very popular site to do this. Their fee is 3.75% and the buying limit is $10,000 per day. This would probably be the easiest way to buy bitcoins. Others would like to buy Bitcoin with debit card. Coinbase also provides this service and has clear step by step instructions on how to proceed with either your debit or credit card. There are those who would like to buy Bitcoin instantly. This can be done at Paxful, Inc. and can be done through W. Union or any credit/debit card. Other common questions that come up are what is the best way to buy Bitcoins, the best way to get bitcoins or where to buy bitcoins online. The easiest way is probably to purchase it through a digital asset exchange like the previously mentioned Coinbase. Opening an account with them is painless and once you link your bank account with them you can buy and sell Bitcoin quite easily. This is quite likely also the best place to buy Bitcoins. One must know what a Bitcoin wallet is and how to use it. It is simply the Bitcoin equivalent of a bank account. It allows you to receive Bitcoins, store them and send them to others. What it does is store a collection of Bitcoin privacy keys. Typically it is encrypted with a password or otherwise protected from unauthorized access. There are several types of digital wallets to choose from. A web wallet allows you to send, receive and store Bitcoin though your web browser. Another type is a desktop wallet and here the wallet software is stored directly on your computer. There are also mobile wallets which are designed for use by a mobile device. A question that occasionally comes up is that of Bitcoin stock or how to buy Bitcoin stock. By far the most common way to proceed in this area is to buy Bitcoin directly and not its stock. There is one entity called Bitcoin Investment trust which is an investment fund that is designed to track the market flow of Bitcoin. Some analysts however are calling this a risky way to become involved in this marketplace. The Bitcoin exchange rate USD is a closely watched benchmark both on a daily basis and long term over the last 8 years since its introduction to the world's financial marketplace. A popular company to receive the most current rate in Bitcoin valuation is XE. They show Bitcoin to USD valuation and also the complete Bitcoin price chart, the Bitcoin value chart and the Bitcoin to USD chart. If you ask, "How much is one Bitcoin?" you will always know from their continuously updated charts. Similar questions that come up in this area relate to the bitcoin rate history, the bitcoin price chart live, the bitcoin to dollar exchange rate, the bitcoin dollar chart and the bitcoin 5 year chart. The previously mentioned website, xe, is also a good source for answers to these questions. Regarding Bitcoin cash, ie. to get USD from selling Bitcoin, Bitwol is one company that enables you to do this. WikiHow is another company that will take you through this process.
I've done some searching and can't find anything specific. Hoping to find someone who's well versed in this stuff who might be able to point me in the right way.. I'd like to set up a dropshipping site, which accepts bitcoin. Once someone places an order, I'd order from the manufacturer, and the manufacturer would ship the product. When I receive bitcoin, I'd continue to hold it as BTC, and pay the vendor in USD. I do not want to utilize a BMSP (bitcoin merchant service provider) like bitpay, but I want to process the transactions myself. I plan to set up a LLC, and do everything legitimate; paying taxes, etc. However, does anyone know the laws regarding this? Would I need to register my LLC as a MSB (money services business) and get licensed as a money transmitter? many thanks
Once again, I just want to share how easily you can accept bitcoin on your online store, or even create a store that ONLY accepts bitcoin, like I did
It's easier than ever to accept bitcoin on your online store. Many popular platforms such as WooCommerce and shopify have plug in and play solutions, there's no excuse to not accept it and it doesn't cost you anything to do so! I've managed to put together a slightly hasty game store that now solely accepts bitcoin, I'd love to know what you think, it's still very WIP but it's a great proof of concept. https://www.ninjagamekeys.com TODO:
After years of involvement i finally made a site for my business that accepts Bitcoin!
Hey Guys, Sorry for the shameless self post but i am very excited. After years of being involved in Bitcoin, buying, hodling, trading and yes gambling i finally got to a place where we built a shopify site for our retail products and my first duty was to make sure we accepted Bitcoin as payment! We have been a brick and mortar newsagency in Australia for decades and we have now expanded online offering a whole range of gift items. Right now we are only Australia based but exansion is a work in progress.We were somewhat rushed due to COVID-19 impacts but would love for you all to check it out and tell me what you think! Funporium.com.au Love the idea of doing my part for the Bitcoin community.
Cryptomarketing in 2020: successful application of strategies from MLM and the beauty industry
Cryptomarketing in 2020: successful application of strategies from MLM and the beauty industry Over the past decade, the crypto-industry has proven to be a unique industry with a specific audience, which requires a no less specific approach. In this regard, in 2020, the advertising activity of crypto companies is significantly different from that to which banks and various financial companies resort. Industry leaders prefer not to rely on traditional online advertising on Facebook, Instagram and YouTube. They follow a different path: they work with bloggers (opinion leaders and influencers), rely on MLM marketing referral programs and actively organize various contests and sweepstakes with generous prize pools. The CoinDesk portal claims that crypto marketing this year is strikingly reminiscent of marketing in the beauty industry, and here it is no less effective.
Michelle Fan, a blogger with a million YouTube subscribers, is using the same techniques to spread skin care life hacks and the idea of financial freedom through bitcoins. Moreover, she assures that the leaders of the crypto industry, like her, use marketing schemes from the beauty industry, even if they themselves do not know about it. Both areas prefer to use the DTC (Direct to Customer) business scheme, independently creating and then promoting and selling goods / services, working as closely as possible with the community. Sales are built through aggregated retail platforms like Amazon, Etsy and Shopify, or even through accounts in popular social networks. Industry leaders in developing countries often resort to the latter option, where large sites like Amazon simply don’t work or aren’t popular. For example, Michelle Haber, a bitcoin maximalist from Libya, made it clear in CoinDesk’s comment that social networks and chats are today the most effective way to distribute goods / services in crypto topics. He said that local traders in order to “educate” the audience help buy hardware wallets, selling them through groups on social networks. Buying yourself Trezor or Ledger in another way is often simply impossible.
Work with opinion leaders
Michelle Fan is not the only person from the crypto-community who notices the similarities with the beauty industry. So, Maria Paula Fernandez, who actively uses the services of the DeFi sector and is seriously interested in the topic of skin care, gave the CoinDesk portal a similar comment. She notes that in both cases, society has become accustomed to relying on the opinion of society itself, rather than trusting the views of the world’s leading media. Therefore, in both sectors, the so-called influencers are very popular — opinion leaders and bloggers who disseminate information among their audience on YouTube, Instagram, TikTok and other social networks, receiving a reward for this. Crypto-companies very often, like firms from the beauty industry, provide their products to opinion leaders for review and further “instruction” of their subscribers. Maria Paula Fernandez does not see anything shameful in this. Observing the experience of bloggers, subscribers begin to acquire a kind of crypto-education and disseminate the information through the word of mouth. Thus, the crypto-community grows. The most successful bloggers over time can count on sponsorship from one or another crypto company. For example, the podcaster Marty Bent, whose show is now funded by Unchained Capital and Square, the developer of Cash App, witnessed this scenario. The latter, by the way, in addition to Bent sponsor also podcast Joe Rogan and rapper Lil B. Many other large companies, including the Kraken exchange, have resorted to this strategy. They are just as interested in sponsoring reputable content creators who promote products among loyal subscribers. The U.S. exchange sponsors the Reckless VR crypto start-up, founded by Udi Wertheimer for crypto-conferences in virtual reality, and the famous podcast Peter McCormack, who launched his own media brand Defiance last year. Having started his career as a hobby, McCormack turned it into a business of his life, thanks to which he earned about $1 million for 2019. With all this, working with bloggers is a great opportunity to enter foreign markets. This is understood at Crypto.com, where they use opinion leaders to attract the Russian-speaking and Turkish-speaking community. Does this approach give a result? Judge for yourself: over the past six months, the number of startup users has doubled and currently stands at more than 2 million people.
Referral Bonuses and MLM Marketing
The development of products within the community often turns into MLM marketing strategies, which require the presence of referral bonuses and bonuses “in depth” — favorite schemes of cosmetic brands. They use a multi-level reward system for attracting partners, where you can usually get a bonus not only for personally invited, but also for “friends of friends and their friends”. Thus, opinion leaders who distribute crypto products often receive a portion of the funds that people invited by them will pay for the product / service. The relevance and effectiveness of the trend is confirmed by the fact that these methods are not shy to use not only crypto start-ups, but also top cryptocurrency companies, widely known throughout the industry. A prime example is SatoshiLabs, a company that manufactures and distributes Trezor wallets. The head of communications, Iva Fizerova, confirmed that she is actively resorting to “affiliate marketing” with bloggers as an alternative to paying them for direct advertising. No less vivid examples are the largest crypto exchanges Binance and Gemini, which managed to succeed not without the help of referral systems copied from the multi-level marketing campaigns Avon and Mary Kay, which they have been using for decades. Instagram blogger Chjango Unchained has been earning good bonuses for several months running after posting a referral link to Gemini on her profile. When her subscribers register on the exchange and buy cryptocurrencies worth more than $100, she receives $10 in BTC. According to her, she is doing a good deed. The blogger wants people who are interested in her opinion on digital money to start their crypto path on Gemini, and not, for example, on Coinbase, because the latter charges “crazy commissions”. Referral system bonuses are a typical phenomenon for many crypto companies, and successful bloggers are happy to use this. A prime example is Michael Gu, known by the pseudonym Boxmining. It has been distributing information about digital money since 2012, having gathered an audience of more than 200,000 subscribers on YouTube and more than 3,500 participants in Telegram chat during this time. Despite the fact that the manufacturer of hardware wallets Ledger does not sponsor its activities, it places referral links in the video descriptions and collects voluntary donations from subscribers. As you might guess, he feels rather well. At the same time, he emphasized that user activity during the coronavirus pandemic is only growing, especially after YouTube began to put sticks in the wheels of the creators of crypto-content.
Gifts, contests and sweepstakes
Making a small gift is a great way to introduce an audience to a new product. In the cryptocurrency market, this has long been relevant. Coin creators eagerly carry out airdrops and bounty campaigns, allowing the crypto community to test the new coin. A similar approach is popular in the beauty industry. Samplers of perfumes and branded magazines with smells have led many girls to buy full-fledged versions of the fragrance. In addition to the cryptocurrency developers themselves, a similar approach is also used by cryptocompanies of a different direction, which cannot conduct airdrops due to their technical features (for example, this is true for manufacturers of hardware wallets). Therefore, they organize more classic contests and sweepstakes. For example, they play a wallet for reposting on social networks or videos published on YouTube. It is noteworthy that cryptobrands in this area are even more active than cosmetics manufacturers. They work not only with trusted bloggers with many subscribers, but also help to become less “untwisted” users. Therefore, they periodically assist them in organizing draws in order to attract subscribers who could potentially become new customers. Iva Fizerova from SatoshiLabs confirmed that Trezor manufacturers periodically help users attract new followers through the distribution of gifts. Moreover, this approach brings excellent results. By working with the community this way, they have managed to sell hundreds of thousands of wallets. But most importantly, a reputation of the brand has formed around the product, warmly received by the audience. And this effect is so strong that the company simply does not see the point in spending money on traditional expensive advertising. Most importantly, despite all the problems of 2020, including the coronavirus pandemic, which seriously hit the global economy and, accordingly, people’s wallets, demand for products did not fall. This approach remains effective, while the percentage of successful conversions in traditional advertising has probably decreased. Fizerova noted that over the past three months they have recorded a steady increase in demand for goods. Moreover, they even had to solve delivery problems, if only the buyers got the desired devices in a timely manner. A similar approach and results are observed with other manufacturers of hardware wallets. Thus, Rodolfo Novak, co-founder of Coinkite, confirmed the growth in demand for products, despite the pandemic. Working with the community is their main marketing strategy, because it really gives results. Over the past three years, they donated about 50 wallets to YouTube reviewers. Novak is proud that their “users help other users.” According to him, this approach allows you to sell products at a lower price, since the cost of goods does not include high costs for familiar marketing campaigns.
Are marketing strategies effective? More than
The cryptocurrency market relies on marketing strategies that have established themselves in the beauty industry, which in the new field are no less effective. Maximum performance is achieved with a killer combination of all three of the above methods. It’s about when the founders of cryptocompanies themselves become opinion leaders. Just look at Changpen Zhao, the head of Binance, or Justin Sun, the project manager of TRON. Both entrepreneurs are bloggers with a huge army of subscribers and are personally engaged in the promotion of their brands, regularly rewarding their audience with pleasant gifts. It’s easy to guess why industry leaders rely mainly on this type of marketing. Advertising products in the traditional way is expensive, especially for startups, behind which there are still no attractive products with a good reputation. But more importantly, crypto products are quite complex in themselves, so they often need detailed explanations, which are difficult to implement in the framework of traditional advertising. Agree that selling a bottle of Fanta with a new taste is much easier than a hardware cryptocurrency wallet, especially since most people don’t understand what it is. On top of that, regular advertising is complicated by the fact that media giants regularly block crypto content. In such a situation, marketing borrowed from the beauty industry seems to be the most acceptable and most effective option. By focusing their marketing budgets on opinion leaders and working with the community, cryptocompanies achieve the desired result, even taking into account the coronavirus pandemic. The crypto community is getting bigger and stronger every day. But the best part is that this growth cannot be stopped. Subscribe to our Telegram channel
recently added bitcoin as a payment option to my shop via coinbase. is this what most people use?
Recently added bitcoin as an accepted form of payment on my bookshop via coinbase. The other options are gocoin and bitpay. Don't really want to have three different options as I'd rather manage a single login and not have to pay fees to transfer between various wallets. Would you say coinbase is the most widely used of the three?
Toronto-based Homebrew Supply Store now accepts Bitcoin for all purchases online and in-store
Hey BitcoinCA, my Homebrew (Beer Brewing) supply store in Toronto now accepts Bitcoin for all purchases online and in-store! We are using the Coinbase Commerce integration with Shopify to accept BTC, LTC and ETH for anything at www.torontobrewing.ca - I can help you put beer on tap in every faucet of your house. Seriously. Feedback welcome and if you have a Shopify store, let me know if you have any questions or if I can be of any help getting setup. Cheers.
Why Cryptocurrency is Failing at Adoption - We're Giving Control Back to Banks, Corporations, and Government
Why Cryptocurrency is Failing at Adoption
Cryptocurrency has come a long way in a short amount of time. That said, one area I think cryptocurrency is falling short is adoption. By adoption I mean people buying things from stores, people buying things online, and people conducting transactions between themselves ie I pickup dinner for a buddy and he pays me back with say Litecoin for example. Now I'm not saying this is a small feat, the concept of getting people to change their entire worldview on money and commerce is a tall task. That said, until we see greater adoption and use of cryptocurrency, it remains nothing more than something we can speculate and gamble on. The utility is there, but if that utility is not being used, it's just something to speculate on and nothing more. Now before you start thinking I'm being overly critical of crypto, I'm one of cryptos biggest cheerleaders. I'm self employed and work full-time in e-commerce. One of my businesses is considered "high risk" by the merchant processing industry and therefore it's very difficult to get credit card processing. I had to contact over 300 processors to find one who would take me on, even then I had to jump through hoops to get accepted, and I pay 7% for processing when your average business pays 2.9% or even substantially lower, so I have a personal use case for crypto in my business, the problem is not enough of my customers are willing to pay in crypto.
Where is Crypto Falling Short?
So you may be asking okay smart guy, where have we gone wrong? With cryptocurrency the beauty of it is that there's no central authority, however that's also a shortfall as there's not necessarily one person to give direction, and when things do fall short there's nobody to blame but "they" or "we", basically the community itself, so this makes it challenging to make changes. Here's where I feel cryptocurrency has fallen short at adoption...
Crypto Debit Cards
Crypto debit cards were way overhyped. I get it, people are used to using debit cards so tying crypto into debit cards makes it familiar and makes it more usable to many people. That said, as we've seen, when you have a Visa or Mastercard logo on the front of a credit or debit card that puts all the power back into Visa and Mastercards hands. All the benefits of crypto ie anonymity, no chargebacks, no rules about what can and can't be sold, no holds or reserves, all these things go out the window as soon as Visa and Mastercard get involved. We've seen this happen time and time again when we hear stories about Visa and Mastercard shutting down various crypto debit cards. Also on a KYC and compliance front, there's often rules such as you can only load $500 or $1,000 onto a debit card without providing name, address, ID, social, etc. While I'm not saying crypto debit cards are completely pointless, they aren't the answer to mass adoption as they remove nearly all the benefits of cryptocurrency, I may as just be using my regular debit card. I think the community fucked up making these things seem like the best new thing since sliced bread.
Focusing on Merchant Processing Instead of Payment Gateways
I'm sure you guys have heard of Bitpay and Coinbase's crypto merchant processing programs. You use a third party company like Bitpay or Coinbase to accept crypto on your behalf. This kind of goes back to the problem above, introducing third parties. The whole point of cryptocurrency is getting rid of third parties and intermediaries who tack on fees and try to control you and make rules for you. By using a third party processor were back to the problem of introducing unwanted third parties. The point of cryptocurrency is to be direct payments from consumer to merchant. Now I realize that some companies sell products with a hard cost and can't be subject to the volitility of crypto. We'll take someone selling DSLR cameras for example, if they buy a Canon SL2 for $500 and they sell it for $700 that leaves a $200 profit. That said if they accept crypto as payment and they accept $700 worth of Bitcoin, and don't sell it right away, it's possible that the camera they paid $500 for, they now only have $400 in Bitcoin for the payment, because of that volatility. Because of that I think it's understandable that some merchants will need to use a merchant processing company to immediately convert crypto to fiat, or at least a portion of each transaction to at least cover their hard costs. On the flip side however someone who is selling digital products which have no hard cost, they can afford the volatility since they won't necessarily be losing money. Imagine I create digital wallpappers and sell them online. The cost to create them is my time, and whether I sell 1 of them, or whether I sell 1,000 of them, it's not really costing me anymore money to sell more so I can afford a bit more volatility. Here's what it basically boils down to though. We need more Payment Gateways and not Merchant Processors. So what's the difference? A Merchant Processor is like Paypal or Stripe. They collect the money from the customer, and then a day or so later issue it to you. They are actually holding the funds. Because of this they have to follow KYC policies, they need to be registered as an Money Transmitter or Money Services business, and they are also required to offer chargebacks. It's for these reasons that they often have such stringent rules and high fees. In the world of eCommerce when we bring in a third party, in a large way that kind of defeats the point of cryptocurrency. So Coinbase rolled out a new service called Coinbase Commerce. I havn't personally used it, but from the research I've done it seems that this is a payment gateway and not a merchant processor. I say this because the money goes to your own wallet where you control the keys. Coinbase never touches that money, they simply offer the software that allows it to be sent and which helps you on the backend of your SHopify store matchup a payment on the site to a transaction on the blockchain. This solves a huge problem. A while back I tried to accept crypto through a Shopify store and there was no good way to do it. It wans't streamlined or automated. I would have to add a custom payment option. The customer would then have to say I want to pay with Bitcoin. I would need to e-mail them to give them an address to send to. They would have to send me the Bitcoin at which point I would then have to manually check the transaction on the blockchain to make sure it was actually sent and to make sure the amount was correct, and then I could ship their product. This process was not convenient or easy on myself or my customer. What Coinbase Commerce does from my understanding is pretty much automate and streamline this whole process. This means my customer and I don't need to talk with one another just to make a simple crypto transaction, the whole process is automated, and I can easily see that the customer has made payment through my Shopify store. If my understanding of Coinbase Commerce is correct this also means that at no point during this process does Coinbase actually touch the money. The beauty of Coinbase never touching the money is that they aren't a money transmitter or a money services business. They don't have to follow rules about chargebacks, they don't have to track my business and issue a 1099 at the end of the year, and they don't have to place rules on what I can and can't sell, that's completely on me. I think this is what crypto needs more of. We need more payment gateways and less merchant processors. Merchant Processors while they do serve an important role for businesses with hard costs, for other businesses they just get in the way and have too many costs and too many rules.
I guess my point is this. Cryptocurrency is unique to money and payment processing. We need to embrace this uniqueness and take advantage of the lack of power and control it allows corporations and government. To date most of the adoption of crypto I have seen is nothing more than partnering with and giving power back to banks, credit card companies, and merchant processing companies. *** I neglected to add something about Litepay. Litepay came to a screetching halt before it even began because it relied top much on the current banking system allowing it. Only a registered business can accept Litepay where as with stripe or paypal anyone can start as a soleprop today in minutes
Hi Bitcoiners! I’m back with the 32nd monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you an overview of what happened in bitcoin over the past month. You can see recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in August 2019 Adoption
Cryptocurrency News: 5 Benefits of Crypto Payments
The demand from consumers is increasing as the benefits of digitally native payments are becoming more apparent. Crypto can save both customers and businesses money and time and can also increase the security of transactions. Crypto payments may not be mainstream yet, but more and more businesses are responding to the growing trend and are now accepting crypto payments either directly or indirectly through a third party. For example, online retailer Overstock accepts crypto payments directly from any customer, around the globe instantly. Overstock: Benefits of Bitcoin Purchases Overstock was one of the first major retailers to accept Bitcoin in 2014 and has continued to make a name for itself in the crypto space launching its own blockchain based capital markets solution, tZero. Others such as Microsoft, Dish, and Shopify have followed, accepting crypto payments in exchange for their goods and services. Keep reading to learn how crypto payments offer benefits above fiat from the analysis of https://www.m8x.com/ For Customers... Less Fees Banks make a lot of money off of your money. They charge fees for a variety of services like credit cards, savings accounts, ATM deposits and withdrawals, and more. Managing your funds in a crypto wallet versus a bank offers significant savings. In most cases, opening and holding a crypto wallet, unless one chooses to purchase a hardware crypto wallet or prepaid card, and using it for crypto payments is completely free. Of course, this largely means that maintaining custody and responsibility of your crypto (through keys, seeds, hardware, or otherwise) is almost entirely up to you. Owned Data Financial institutions and retailers collect and retain a wide range of customer’s personal and financial information. Your bank tracks anything from your name, address and social security number to your net worth, investments, account balances, and credit score. On the other side of the transaction, retailers are collecting your browsing and purchasing history as well as your basic personal information. With crypto, the only data needed to process payments is two strings of numbers – the customer’s address and the recipient's address. Of course, crypto transactions aren't completely anonymous because most blockchains are public, and personal information like your name and address are often still collected by retailers. Despite this, crypto transactions collect and retain significantly less personal information than standard credit card transactions. The fewer intermediaries involved in a transaction, the fewer opportunities there are for your data to be commercialized. Not to mention, by making transactions peer-to-peer, business yield more profit and are less pressured to gain revenue through sales of customer data. Borderless Payments Crypto assets are borderless by nature. Bitcoin, for example, isn’t owned by a centralized body or issued by a single country. It’s decentralized which means it’s also global. Crypto payments can instantly cross borders with minimal fees and without the need for an intermediary like a remittance business or a bank. All that’s needed to process an international payment is an internet connection and a device like a cell phone or laptop. Removing the third party from the equation opens the doors for millions of people around the globe without access to banks (“the unbanked”), giving them access to the global economy. The opportunity for crypto payment adoption in places like Nigeria where an estimated 100 million people have access to the internet, mostly through mobile devices, but only 31 million hold bank accounts, is huge. For Businesses... No Charge Backs The current electronic payment system forces businesses to take a substantial risk when processing payments. When you purchase something with a credit card, you’ll often see your transaction as pending on your statement. That’s because your payment isn’t actually as instant as it appears. It has to travel between a customer, two banks, then finally, to the merchant. The lack of speed and the need for multiple parties gives customers the chance to take an item only to cancel their payment before it’s processed, leaving the business high and dry. With a crypto payments, it can't be reversed once it is processed. It’s instant and permanent, which means companies don’t have to worry about chargebacks. Loyal Customers CheapAir – an American online travel agency – has reportedly processed more than $5 million in Bitcoin payments since 2013. The CEO of CheapAir Jeff Klee told Forbes that he likes "customers who pay in crypto because they are loyal." He also noted that they’re more likely to “buy higher ticket items.” Many crypto users are seeking out businesses that accept crypto and are likely to be loyal to those who do. Not to mention, studies predict crypto assets could be used as a mainstream means of payment in the next decade. Businesses that get ahead of the curve will likely reap the benefits of mass adoption. While crypto payments have a long way to go both in terms of adoption and scalability, the benefits to both businesses and customers are significant enough to radically improve the way transactions are conducted globally.
I own a successful drop shipping business that just made 100k in sales last month and expecting 650k total for 2016. Ask me almost anything!
Hey guys. I wanted to share my story for a while now and I feel that it’s a great time to do it. Proofs are at the end of the this post. I’m a 25 years old entrepreneur who failed a lot of businesses in the past. I made my first website at 8 years old and since then, I've been making websites for fun and trying to get some revenu here and there. When I was 22 years old, I started my business while I was in University (Computer science) to generate a side income. After my website was online, I got my first sale without advertising it within 1 or 2 days (I can’t exactly remember). Considering my average product cost is around $400, that was a big deal for me. Later that year, I was kicked out of school because I failed the same class twice. I had to wait a year before I can enroll again. I decided to start working full-time and work on my business in the mean time. In May 2016, I left my full-time job to focus on my business. I did this because in 2015, my salary from my business was double of my full-time job. I knew that I can grow it even further so I wanted to focus 100% of my time on it. This year was my best year so far. I doubled my numbers of the previous year. Last month (November 2016), I made a little over 100k in sales thanks to black Friday. This is about 20k in net profit in 1 month and half of that was made during Black Friday and Cyber Monday. Since I have no employees, office etc, I usually pay myself 90% of the profit as a dividend and keep 10% for the company. This allows me to still use the business name when purchasing expensive goods like my car. Since I have multiple suppliers, I don’t have a fix margin. My margin is currently between 30% and 50%. The fun part of my niche is that all brands have a minimum advertised price policy (MAP) so I never have to compete in price against other resellers. It’s all about marketing and content. My gross profit is around 25% and my net profit is 19% - 20%. Expenses include website, transaction fees, car, insurance, gas, restaurant, business trip, cellphone plan etc. I still have a good amount at the end of the year and less expenses under my name. I expect my net income to be around 100k this year. I am also expecting to end this year with about 650k in sales. I built my brand as a premium reseller in my niche market. I often receive requests from manufacturer (mostly in China) offering me to sell their products with a high profit margin (50%+) but I always decline since I don't want to sell cheap products. Last summer, I removed a brand from my website because it took the manufacturer 1 month to help me process a warranty claim. This was unacceptable for me since it's my brand that gets hurt. Later that year, they revised their communication system and we started doing business again a few weeks ago. I also focus a lot on original and good content. Links to my website are often shared in forums and Reddit since my posts/pages are useful for my potential clients. This created a lot of random websites copying my content, even my texts and pictures. I often keep an eye on my "competitors" since they literally steal my pictures, remove my logo from them and post them on social media or their website. One of them even copied 100% (text and pictures) of my most visited page and posted it as his own on his website. Fortunately, Shopify has a good DMCA program and I was able to get his page removed within 2 days. I guess having copy-cats means that I'm doing something well. What else I do as an entrepreneur and goal for next year Beside the regular retirement plans and investment portfolio, I have a small Bitcoin portfolio since my store accepts bitcoins. I also invested some money in a condo that I’m currently renting while I live with my SO in a rented house. I’m currently working with my main supplier to become the exclusive reseller in Canada. This is a huge deal for me since my company will keep making money in the US market as a drop shipper while I generate a new stream of revenue in Canada as an exclusive reseller. This means that I'll have to rent a warehouse and hire a staff to help tackle this new adventure. I am confident that the manufacturer will agree so hopefully we can get this going after the holidays. Drop shipping is fun at first but after 3 years, I feel that I need a new challenge. Proofs I always wonder why people don’t post proofs when they say that they did something. Here are some screenshots to confirm my claims. I currently have 2 stores selling the same products but in 2 different countries. I also didn’t sell on Amazon until this year. During this last summer, I had to shut down my second store unfortunately but it should be back up in the next few weeks. Sales made in 2014: Store 1 - Store 2 Sales made in 2015: Store 1 - Store 2 Sales made in 2016: Store 1 - Store 2 - Amazon Sales made in November 2016: Store 1 - Amazon Traffic: 2015 - 2016 I wanted to answer some questions since I know that a lot of you are interested by drop shipping businesses. I’m no expert but if I can help someone, I will be glad to. Edit: I am going to start replying to PMs as soon as I can. If I can't today, I will do it during the weekend for sure!
What is the Most Updated Way for a Shibe to Accept Dogecoin for general eCommerce?
Back in the days of being able to set up a store to accept Doge on Moolah I was making shirts (designs can be seen here) that had back then been selling on Red Bubble and Zazzle. Just recently I had found a way to add them to Etsy. However without a way to accept crypto it does kind of stink still. I was about to go through the process of signing up with GoCoin and maybe going with some kind of WooCommerce or Shopify option but while doing a little online searching found this /bitcoin/ post just ten days ago https://www.reddit.com/Bitcoin/comments/b8pcki/adding_bitpay_coinbase_and_gocoin_to_website/ if you go through the comments things go pretty harsh on a lot of these payment systems. I would love to be able to in the end sell the shirts and other wares on OpenBazaar and more decentralized systems, but without the availability of a crypto ondemand print service I see these middlemen payment systems as the only thing. What options do you know of?
How Blockchain & E-Commerce Makes A Successful Combination?
It’s been a decade when the revolutionary concept of online selling was introduced to the world and the evolution of this industry has been exemplary. Within the past few years, the concept of ecommerce has been intensely affected by continuous technological advancements and blockchain is one of them. Blockchain offers a variety of new opportunities for the industry through its unparalleled potential; eliminating mediators to centralize operations, reducing complexities for ecommerce businesses to resolve their long-term challenges. However, it’s important to mention that this technology is the foundation of cryptocurrency payments which makes it more important for the e-commerce domain. It would be appropriate to say that blockchain is poised to change the way transactions are made. In continuation, both traditional selling stores, as well as e-commerce businesses, should be prepared for radical changes. Our focus will set on analyzing the impact of blockchain technology on e-commerce businesses in coming future. But prior, we need to clarify some important questions about the Blockchain technology. Those buzz will be helpful for you to spend on the services of a professionalshopify development company in an effective manner. What is E-commerce Blockchain? A traditional ecommerce store always has a large number of customers, inventory and transaction data, which requires adequate management & storage for effective results. In blockchain technology, this situation is addressed by combining transactions in block form and connecting those blocks in the form of a chain. Here every block is stored on individual computers hereby making it secure & scalable. How are Blockchain transactions verified? Transactions in Blockchain has a legitimate process of verification. Every node has a complete history of transactions and whenever there is a new happening transaction, the node performs several checks to ensure that it’s a genuine one. The process starts with a signature validation and if not valid then gets denied promptly hereby making it impossible to falsify the authenticity. Hiring a professional developer is most suitable if you are new to Blockchain technology integration. But prior to having a look at the unleashed potential of blockchain for the e-commerce industry, it’s required to understand the potential challenges and pain points it faces. The survival, sustenance and growth in E-commerce is difficult due to its complexity as a domain and to start here is a challenge in itself. Let’s have a look at some of the key challenges faced by the sellers on a day-to-day basis as well as in the long run. The e-commerce industry is becoming highly competitive, with existing players offering similar products and services and more sellers are joining the bandwagon at a rapid pace. It requires businesses to adapt smart business models & technologies to sustain in the race. Another pain point of the sellers is the presence of a middlemen in traditional business models who shares a hefty percent of earning in the selling process. Also the sellers have to pay a transaction processing fees to facilitate payments for completing the transactions. This fee reduces the profits of sellers to a considerable extent and result in lower revenues. Another key concern for these businesses is the protection of consumer data as they require to build the customer’s trust by assuring them about the complete safety of their personal as well as financial details. The implementation of data security regulations; General Data Protection Regulation (GDPR) has made data security an important concern for ecommerce companies. This is prime reason for sellers to invest more in data encryption and other measures for preventing hacks. There is an array of operations like supply chain, logistics, payments included in ecommerce business and management of these operations is a key challenge for the industry. From correct inventory replenishment, proper arrangement of shipping and delivery functions, to managing customer relationships are few of a lot things needed to be managed by the merchants. And since all these challenges can be overwhelming the sellers from very start of online selling, they have been searching for a technology that’s capable of handling them all. Fortunately, blockchain technology is a suitable answer for all these questions and being a decentralized system, it offers a lot of benefits for the e-commerce domain. E-Commerce Will Be Driven By Blockchain In Future Regardless of all the positive impacts e-commerce industry has on the world economy, things have not been fruitful for the sellers in the domain because of the challenges since the origin. Also, it has been seeking for a secure technological backbone to support it and address the diverse challenges it faces. Luckily, the Blockchain technology is ready to give it the same today through an array of features: Operational Efficiency: The decentralized model in Blockchain makes it capable of assigning operations and drive efficiently. Smarter contracts are passed down to regulate the intermediates like logistics and payment processing partners. It facilities the integration with several management systems to streamline the overall workflow as well. Blockchain offers the clients complete ownership of their assets like digital storefronts, product photos, and videos, and reviews. Assured Payments: Another significant advantage is the transparency in transactions, which increases a buyer’s trust. Every transaction is taped in a shared ledger which cannot be modified by anyone. Users avail high-security, faster processing speed, and radical visibility along with traceability through decentralized system. Also cryptocurrencies lower the transaction costs for international e-commerce stores. Cost-Effectiveness: Bitcoin is a well-known and most utilized case for this technology. Online sellers can trust bitcoin and other cryptocurrencies to get in-budget payment solutions and since there are no payment processes involved, currency can be accepted at a zero processing fee by the sellers. Additionally, blockchain offers a decentralization of marketplaces, letting the inherent costs going down automatically. It also provide better pricing for online retailers for the customers as the savings are passed to them. Data Security: Consumer data of an e-commerce store is always on a vulnerable point due to weak encryption, since well-encrypted systems can be hacked by the tips and tricks used by modern hackers. The presence of a decentralized ecosystem makes it impossible to hack from a single point, enabling sellers to safeguard the sensitive customer information and databases. Conclusion Since there are extensive benefits of e-commerce Blockchain making it imperative for businesses to grasp for massive growth. If you require transparency in business transactions and manage your consumer data reliably, this technology is the best solution for you. Having a right technology partner is must for you to use this futuristic technology at fullest and take your business to the next level. AtPro Web - Unisys we develop robust e-commerce solutions to open unlimited opportunities and take your e-commerce business to the next level. Blog Source URL:https://www.prowebtechnos.com/how-blockchain-e-commerce-makes-a-successful-combination/
After you enable a payment method that supports cryptocurrencies, you can accept Bitcoin, Ethereum, Litecoin, amongst 300+ digital currencies. Note. You'll still be charged transaction fees each time a customer makes a purchase using this payment method, unless you also activate Shopify Payments. Some of the advantages of using Bitcoin over another online payment network, such as PayPal, or even your bank, are: ... You can accept Bitcoins as payment; You can earn them by supporting the process of verifying transactions in the Bitcoin system, called mining. You cannot make purchases through other platforms, such as PayPal or Dwolla, using Bitcoins because of the potential for fraud ... How to accept Cryptocurrencies on Shopify Stores. In this article we are going to be discussing the benefits of accepting Cryptocurrencies on Shopify, as well as show you how to integrate the CryptocurrencyCheckout Platform into your Shopify store so that you can start accepting Cryptocurrencies like: Bitcoin, Litecoin, Ethereum, Dash, and many more as payment for your sales. How to Accept Cryptocurrency Payments with Shopify Fox August 20, 2020 17:27 ... Shopify is a powerful, versatile online store for any business. BitPay works directly with Shopify to integrate cryptocurrency payments directly into Shopify's hosted checkout system. Enabling cryptocurrency payments in your Shopify store is simple and requires no coding knowledge. You can get started by following ... Can I Accept Bitcoin on Shopify? Yes! Many online stores on Shopify have integrated Bitcoin payments by using plugins. For example, the Lightning Network plugin from OpenNode is a payment processing feature that's allows Bitcoin payments. Similarly, Bitpay works directly with Shopify to allow merchants on the platform to creates stores that accept Bitcoin. How Do I Accept Bitcoin Payments on ...
BTCIOT Tutorial - Building an online shop that accepts bitcoin
Bitcoin 101 for Small Business Pt 4 – Accepting Bitcoin in Your Business - Duration: 12:46. ... How To Accept Bitcoin on Shopify - Duration: 10:21. Matthew Sabia 15,550 views. 10:21 . How To ... How To Accept Bitcoin as a Merchant - feat. Bitpay & Matador Pizza - Duration: 11:53. ... How To Accept Bitcoin on Shopify - Duration: 10:21. Matthew Sabia 15,791 views. 10:21. How To Withdraw ... Ledger Live Bitcoin BTC News & Ledger Wallet Updates Thẩm mỹ viện Ngọc Hường 3,263 watching Live now Wix Tutorial for Beginners (2020 Full Tutorial) - Create A Professional Website ... The real-time build of https://jigawatt.co, an online shop that accepts bitcoin lightning payments, using OpenNodes WooCommerce plugin. On https://jigawatt.co you can support BTCIOT by buying ... 7.4 Testing the Checkout process - BTCPay Server test, making a test purchase, Electrum Gap limit - Duration: 6:52. BitcoinShirt 1,336 views