How to Get Users to Pay You Securely in Bitcoin & Crypto

In the ever-evolving digital landscape, "how to pay with Bitcoin" or even "pay with BTC" are popping up more frequently in search engine queries. Cryptocurrency, especially Bitcoin, has revolutionised the way we think about payments, granting unprecedented levels of freedom, security, and flexibility.

Despite a negative macroeconomic environment and significant drop in the cryptocurrency market cap, the global index score of crypto continues to grow. Moreover, governments all over the world are in the process of developing a regulatory framework for digital assets, recognising them as an important part of the global economy. One of the many crypto supporters, Elon Musk, described the potential of digital assets:

“Bitcoin’s structure is very ingenious. The paper money disappears, and crypto-currencies are a much better way to transfer values than a piece of paper, that’s for sure.”

As businesses strive to stay ahead of the curve, accepting this bitcoin payment method is no longer a mere option — it's essential. This comprehensive guide focuses on the crypto realm, ensuring businesses can navigate Bitcoin payments with ease.

The Benefits of Accepting Crypto in Business Transactions

Accepting crypto, especially Bitcoin, brings numerous advantages for businesses. One primary reason businesses are accepting Bitcoin is its ability to circumvent traditional card payment limitations. Several regions have card usage restrictions for specific sectors, but Bitcoin and other cryptos offer a versatile alternative.

The unmatched security and privacy associated with crypto payments mean customers can transact discreetly. This heightened level of privacy and security is especially crucial for customers wary of sharing their card details on unfamiliar platforms. Thanks to state-of-the-art cryptographic techniques, crypto transactions are both secure and resistant to tampering.

Furthermore, the economic benefits of accepting crypto payments are undeniable. Conventional payment methods, such as credit cards, come with hefty processing fees. In contrast, Bitcoin and other crypto transactions often have reduced fees. This potential for savings is a significant draw for businesses and customers alike.

The speed of crypto transactions, especially Bitcoin, is also noteworthy. Unlike traditional banking systems that can delay transfers, Bitcoin transactions are often instantaneous. This quick turnover ensures customers have rapid access to funds, elevating the user experience.

Lastly, accepting crypto allows businesses to tap into a vast, global crypto community. The inherent borderless nature of cryptos, especially Bitcoin, means businesses can increase both customer acquisition and loyalty.

Different Ways of Paying with Crypto

Now we’re convinced of the benefits of utilizing crypto as a payment medium, it’s important to understand how we can begin accepting it as merchants. Let’s go through the most popular ways.

• Manual Crypto Payments: This is the classic method where individuals pay by accessing their crypto wallet, selecting the 'send' option, inputting the required amount and type of cryptocurrency, and confirming the recipient's wallet address or QR code. To receive payments, users share their specific crypto address or QR code.

• Payment Channels: Often used in gaming scenarios, these are like opening a tab. Funds are locked in a 2-of-2 multi-signature address and are only recorded on the blockchain when the 'tab' is closed. In certain blockchain games or games of chance, a system sets up a peer-to-peer channel, which closes post-game.

• Payment Links: These are straightforward and ideal for companies without a dedicated website. They send a link to customers, usually via email, which directs them to a payment platform with a countdown timer, ensuring prompt payment. These are popular in e-commerce platforms such as Shopify.

• Plugins: For a seamless user experience, many sites incorporate bitcoin payment portals directly. Examples include Wikipedia and other donation-based platforms. They function similarly to traditional online payment systems, where a browser extension pops up, facilitating quick payments.

• Invoices: Typically found in B2B scenarios, they are also handy for freelancers. Unlike payment links, which are time-sensitive, invoices have a de jure deadline. Invoices remain a top choice for companies like Sumsub which require substantial up-front payments for services.

  
  

Which Crypto Processors Should You Choose?

In the realm of crypto processors, a myriad of options cater to the diverse needs of businesses. Let’s take a look at TOP-5.

CryptoProcessing by CoinsPaid

CryptoProcessing.com stands at the forefront of crypto payment gateways, enabling businesses to securely and legally embrace cryptocurrency transactions. With a stellar track record spanning over 9 years and a network of 800 merchants, the platform caters to the diverse needs of businesses through a myriad of payment methods.

CryptoProcessing.com proudly supports 20 of the most prominent digital assets, including Bitcoin, Tether, Ethereum, and Litecoin. Furthermore, they offer seamless conversion into 40 fiat currencies, liberating businesses from the need to hold cryptocurrencies in their financial records. Withdrawals can be effortlessly directed to the merchant's bank account, ensuring financial fluidity.

Crucially, CryptoProcessing by CoinsPaid operates under an Estonian license, granting merchants the ability to embrace crypto payments within the bounds of the law. The service rigorously adheres to European AML regulations, cultivating a secure and transparent ecosystem for both merchants and their clientele.

Consider the pricing model as well: CryptoProcessing.com boasts a zero setup and monthly fee policy, making integration completely cost-free for businesses. Merchants incur only a processing commission of less than 1%.. CryptoProcessing.com’s commitment to service excellence extends to round-the-clock technical support and dedicated personal managers, standard features at CryptoProcessing by CoinsPaid.

Coinbase Commerce

Coinbase is a synonym for crypto integration. The platform's strength lies in its versatility – from accepting a plethora of cryptocurrencies to custom transaction reporting. Businesses get the added advantage of converting assets to cash or stablecoins, amplifying their global appeal. With Coinbase, reduced costs meet an expansive user base, making it a formidable choice.

Binance Pay

Binance Pay Merchant introduces a dynamic business platform facilitating seamless payment transactions between merchants and their valued customers. Those who enroll in this program gain the ability to embrace digital asset payments for their enterprise.

Moreover, Binance Pay opens doors for users to indulge in shopping extravaganzas across a diverse array of supported stores and businesses, encompassing more than 70 different cryptocurrencies. This expansive ecosystem includes convenient options like online travel bookings through Travala. Additionally, Binance Pay empowers individuals to swiftly and efficiently send cryptocurrencies to friends and family, transcending international boundaries, all with the simplicity of a single tap for shared shopping experiences.

This service caters to a broad spectrum of businesses, whether they involve high-frequency payments requiring automation or low-frequency transactions managed through invoices.

Crypto.com

Join a thriving ecosystem of over 50 million users with Crypto.com. The platform's seamless integration with popular online platforms and zero fees offer businesses unparalleled ease. Add to that the allure of earning up to 10% back in CRO tokens, and Crypto.com becomes hard to resist.

Blockchain.info

Blockchain's expertise in distributed-ledger technology places them at the forefront of crypto transactions. Their commitment to improved settlement speeds and efficiency, coupled with pioneering solutions, makes them a go-to choice for businesses worldwide.

Final thoughts

Embracing cryptocurrency payments, especially Bitcoin, is more than staying updated with technology. It's about anticipating a future where payments are swift, secure, and without superfluous intermediaries. The increasing global acceptance of cryptos means businesses adopting these innovative payment techniques will reap significant rewards, not only in reduced transaction fees and increased security but also in accessing an ever-expanding, dedicated customer base. By choosing the right crypto processor and payment methods, businesses pave the way for a future where transactions are limitless, fast, and foolproof.