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How do cryptocurrency payments work?

What is cryptocurrency?

Cryptocurrency is a digital currency that can be used to buy goods and services. It uses an online ledger with strong cryptography to secure online transactions. There are more than 5,000 cryptocurrencies in circulation. Popular cryptocurrencies are Bitcoin and Etherum.

What is cryptocurrency payment gateway?

Cryptocurrency payment gateway allows businesses to accept cryptocurrencies from customers in exchange for goods or services. When a customer makes a purchase using cryptocurrency, the transaction goes through the payment gateway at a fixed exchange rate and converts cryptocurrency into recognized fiat currency, with zero volatility risk. And a transaction fee will be charged. Businesses can also choose to accept payments in cryptocurrency.

Why accept cryptocurrency payments?

Cryptocurrency payment gateways offer lower fees than credit card payment services. With over 200 million of crypto owners worldwide, crypto payment services enabled borderless transactions, enabling customers from all over the world to purchase your company’s services or products. Learn more about the benefits of accepting cryptocurrency here.

How to receive cryptocurrency payments for your business?

TripleA’s cryptocurrency payment gateway enables businesses to accept cryptocurrency payments in just a few steps.

Step 1: Sign up for a cryptocurrency merchant account on our website.

A welcome email with your dashboard and account credentials will be sent to your email.

Step 2: Install our cryptocurrency payment gateway API or plugin on your online store.

API integration options

  1. Embedded payment form: TripleA crypto payment form appears within your website
  2. External payment form: TripleA crypto payment form appears on an external page

E-commerce plugins

  1. Opencart
  2. Woocommerce
  3. Shopify

Check out this comprehensive integration guide of TripleA’s cryptocurrency payment gateway.

How can your customers pay using cryptocurrency?

After adding our cryptocurrency payment gateway on your online store, customers shop for the products or services they want to purchase on your store.

After finishing their shopping, customers proceed to their cart and check out.

Customers fill in their billing details and click on “Pay with bitcoin”.

Customers access their cryptocurrency wallet by scanning or clicking on the QR code which appears on their screen.

Once their wallet is opened, the payment amount and blockchain address is automatically filled in and customers can simply click to confirm the payment.

Voila, the payment is completed and you will receive an instant confirmation to ship out customers’ goods! You can then check the orders and payments directly on your dedicated dashboard.

How can your customers benefit from it?

Accessibility, Bitcoin payments benefit your potential customers—the unbanked and users without access to credit cards or other methods of payment. When they shop globally, they don’t have to worry about currency exchange fee as transaction was settled using Bitcoin. Bitcoin purchases are discreet, users are able to control how they spend their money without having to deal with a bank or government. Above all else, a customer’s purchase using cryptocurrency cannot be easily traced, protecting the identity of a customer.

Just in the first quarter of 2021 alone, we see more companies accepting cryptocurrency and more investors investing in cryptocurrency, it’s clear that cryptocurrency is revolutionizing the payments industry. Now is the time for you to start accepting cryptocurrency if you have not done so.

 

Want to start accepting crypto payments?

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