A Complete Guide to Integrating Cryptocurrency Payments into your WordPress Site

In recent years and in the realm of digital payments, cryptocurrency has gained significant traction due to its ‘easy-to-use’ functionalities, decentralized nature, blockchain technology, security features and faster transaction speed, while making and accepting payments. So, local businesses, Shopify stores, E-commerce brands and startups need to know how to integrate crypto payments into their website(s). It is a relatively straightforward process, if you take a systematic approach and follow the standard steps to add a cryptocurrency payment system to your existing WordPress or E-Commerce site. Let’s understand how it works.

1. Choose a Trustworthy Crypto Payment Processor – There are several cryptocurrency payment gateways available in the market like Coinbase, CoinGate, BitPay, Binance Pay, GoCoin, CoinPayments, NOWPayments, SpicePay, etc. But, when you choose a brand like UniPayment, be rest assured that your business transactions would be safe, secure, lightning fast, transparent and adaptable to all types of digital currencies like Bitcoin (BTC), Ethereum (ETH), USDT Tether (Stablecoin), Dogecoin (DOGE), Binance Coin (BNB), Litecoin (LTC), Solana (SOL), Cardano (ADA), and more. What’s more, through one such versatile and dedicated cryptocurrency payment processor, you can easily convert cryptos into fiat money, and vice-versa.
   
2. Setting up an Account with the Service Provider – You need to sign-up and create an account with your crypto payment service provider, and follow their detailed instructions to set up your account. It typically involves entering some personal and business information, apart from going through certain security parameters like two-factor authentication, biometrics, facial recognition, etc.
   
3. Integrating the Payment Processor into your WordPress Website – This is the most crucial aspect, as a majority of payment gateways, including ‘UniPayment’ will provide you with a snippet of code for adding a “pay with cryptocurrency” button to your WordPress site. You can simply integrate this code to your website’s HTML, and you’re good to accept payment in a variety of digital currencies, including Bitcoin, which is the most popular currency. This integration also allows you to generate QR codes and payment addresses for your customers or vendors.
   
4. Testing the Payment Integration – After ‘clinically’ adding the payment button to your WordPress website, it becomes quintessential to test and validate the payment system, ensuring everything is working properly. It can be done by placing a ‘test order’ on your site and thereby checking the payment is processed without any errors. It is a relatively simple process with the assistance of your payment processor.
   
5. Choose a Cryptocurrency Wallet – In order to accept crypto payments, you require a digital wallet that is compatible with all types of cryptocurrencies. You therefore need to ensure that your wallet supports the specific type of currency that you’re interested in, while doing transactions.
   
6. Display Currency Options – You need to make it amply clear to your customers that you accept the said currencies, be it BTC, ETH, LTC, DOGE or USDT as payment options. For that, you can display the particular currency logos & icons for a clear view at the checkout, apart from providing options in traditional payment methods like credit card, debit card and PayPal.
   
7. Set Prices in Crypto Valuations – As an E-commerce store or an individual business entrepreneur, you need to decide whether to price the products & services in cryptocurrencies, or if you want it to be converted to fiat currency at the time of making payment. A lot of businesses prefer displaying prices in both cryptocurrency and local currency for ease of use and transparency.
   
8. Synchronization with your Website’s Platform – Depending on the type of the website, be it WooCommerce, E-commerce, Shopify or Magento, you need to synchronize it with the said cryptocurrencies and payment methods, as some crypto payment options are better adaptable for some specific platforms than others.
   
9. Educate your Customers & Team – You need to provide comprehensive training and onboarding resources to your customers and team in ensuring that all the team members become experts in handling crypto payments and knows the nitty-gritties about this payment method. Continuous training and clear instructions about usage can help minimize errors, thus providing a seamless experience for your in-house sales team and customers/clients.

Benefits of Accepting Crypto Payments on your Website

• Quicker and Affordable Acquiring: Unlike traditional/conventional payment systems, cryptocurrency payments take comparatively lesser processing time and fees. Due to the typically low transaction fees of 1%, when compared to 7% of fiat payment gateways, you can build upon big savings.
• Blockchain Technology Enhances Security: As crypto transactions are based around blockchain payment systems, it adds several layers of security. It means that all transactions are less prone to data hacking, phishing attacks and online frauds, which is not the case with card payments.
• Worldwide Accessibility: When you’re able to accept payment in the form of cryptocurrencies on your website, it becomes possible to receive payments from customers, merchants and vendors from any part of the world. This provides an opportunity to expand your business footprints, client base and reach untapped markets, which were till now out of reach.
• Alternative Payment Option to Attract New Customers: Websites or niches that accept a variety of digital currencies, tend to attract new prospects and clients who prefer using such alternative payment methods, especially in cryptos. This can help businesses beat all competition, emerge victorious and boost sales in the long run.
• No Holding: Popular crypto payment processors like UniPayment do not hold on or freeze your funds during the process of any business transaction, thus enabling seamless and unhindered payment experience for all parties involved.
• No Rolling Reserves: As all transactions are irreversible in cryptocurrency payments, rolling reserves are NOT required, which automatically minimizes the risk of online frauds and chargebacks to a considerable extent. And, with a dedicated payment processor, it is now possible to convert your crypto payments into USDT payments automatically, thus shielding your funds from unwanted rate fluctuations.

Conclusion

Integrating crypto payments to your WordPress website provides a world of opportunities, when it comes to expanding your business to new geographical regions and boosting your income through online sales. It enables cheaper, faster, secure and transparent transactions, which is not only beneficial for you, but also for your customers and clients. Choosing the right cryptocurrencies is a crucial aspect, and seamlessly integrating the crypto payment system into your site holds the key. Lastly, it is also important to provide continuous support to customers who use cryptocurrency payments.