Accept Bitcoin as a payment method
This way you can accept Bitcoin as a payment method in your retail store or online store.
In this article we will describe how you can easily accept Bitcoin without much effort and without any costs.
Depending on the respective business model, we offer further information.
With this tutorial you can integrate Bitcoin by yourself.
If you don’t want to do the integration yourself, you can ask Coincharge to do it for you.
For the following business models, you can find detailed instructions on how to accept Bitcoin here:
Regardless of which of the above business models you want to accept Bitcoin for, you will need:
- a BTCPay store
- a Bitcoin Wallet
BTCPay Store
A BTCPay store is required for Bitcoin payment processing.
If a customer wants to pay with Bitcoin, the BTCPay Store calculates the corresponding Bitcoin price based on the respective conversion rate.
A Bitcoin payment checkout page is created, which is displayed to the customer in the form of a QR code.
When the customer pays, the BTCPay Store verifies that the payment was properly executed. It checks if the expected bitcoin amount has been received and credits the merchant’s bitcoin wallet with the equivalent amount.
Likewise, the merchant receives feedback about the successful Bitcoin payment in order to make the delivery of the goods and services.
In order to use a BTCPay Store, the use of a BTCPay Server is required.
To operate a BTCPay store, you can run your own BTCPay server or share an existing BTCPay server.
Further information:
Instead of using the Coincharge BTCPay server, would you rather use your own BTCPay server for your BTCPay store?
Then set up your own BTCPay server.
You can find more information about your own BTCPay server in the article:
Coincharge operates a BTCPay server that you can share for free. Create an account on the Coincharge BTCPay server at: https://btcpay.coincharge.io/ and create your own BTCPay store.
Bitcoin Wallet
The Bitcoin paid by the customer will be credited directly to the Bitcoin wallet at the merchant.
As a trader, you need your own Bitcoin wallet to which the incoming Bitcoin are credited.
If you create a BTCPay store, you can also use it to create your own internal Bitcoin wallet.
Only you have access to this Bitcoin wallet, because you receive the private key in the form of 12 words that only you know.
You can transfer your Bitcoin balance from this Bitcoin wallet to another Bitcoin wallet at any time.
Further information:
Do you already have your own Bitcoin wallet?
Then you can store your existing Bitcoin address as an xPub key in your BTCPay store.
How you can determine the xPub key of your Bitcoin wallet, you will learn in the article:
Accept Bitcoin now
To accept Bitcoin, you only need your own BTCPay store and a Bitcoin address or a Bitcoin wallet to which your incoming Bitcoin will be credited.
We have explained in four steps how you can set up and share a BTCPay store on Coincharge’s BTCPay server:
After you create a BTCPay store and add your Bitcoin wallet, you can already accept Bitcoin.
Depending on the business model, there are more advanced applications that you can connect to your BTCPay store. Thus, you can accept Bitcoin payment for the particular business model.
We have written further articles on this subject:
