When your customers come to checkout on your e-commerce website you can give them the option to pay with BCH. · This is done using a Bitcoin Cash payment.
Table of contents
- Tesla will accept Bitcoin as payment, Elon Musk says.
- BitPay – Do more with your Bitcoin
- Pros & cons of accepting Bitcoin for a small business
- How to use Cryptocurrency in eCommerce
Tesla will accept Bitcoin as payment, Elon Musk says.
Apple Pay is joining the list of financial service providers to embrace Bitcoin as a payment method. The recent news means that BitPay cardholders can use cryptocurrency as a standard payment method wherever Mastercard is accepted. BitPay's mobile wallet lets users convert cryptocurrencies into standard currencies and load them onto their Mastercard , the company said. Last October, PayPal announced that account holders can not only buy, sell and hold cryptocurrency but also use digital coins as payment to the company's network of merchants.
And just last week, Mastercard said it will begin accepting select cryptocurrencies on its network in Early on in the COVID pandemic, consumer usage of mobile wallets lagged despite public health concerns and the need for speedy purchases. But as the pandemic continues, retailers and their partners have eyed mobile wallets as another way to engage with customers.
BitPay – Do more with your Bitcoin
Last year, David's Bridal partnered with Popwallet to offer its customers perks like coupons, and Afterpay said it would allow users to pay in installments with Apple Pay and Google Pay. Taking a different approach, 7-Eleven introduced a mobile wallet in December that allows users to add cash at its brick-and-mortar locations. Consumers in the past 10 years changed their clothes, from fast fashion to resale, and shunned formality.
That bankrupted a lot of retailers. Protests against systemic racism this year pushed retailers to take a magnifying glass to diversity, and many areas are lacking. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Search x. An article from.
Courtesy of BitPay. Author By Tatiana Walk-Morris.
Published Feb. Share it. As is the case with most business quandaries, there are pros and cons. But with Bitcoin, the payment is one-way and irreversible.
Pros & cons of accepting Bitcoin for a small business
Another significant advantage concerns fees. With Bitcoin, you can go with no fee at all, although if you choose to pay a small transaction fee, it makes things faster.
On the face of it, Bitcoin sounds like it is heaven-sent for small eCommerce businesses. But there are potential downsides. The most obvious relates to price volatility. This is what has kept Bitcoin from becoming a popular payment mechanism in the wider sense, and while volatility has reduced over the past year, it has not gone away. That volatility is what makes it such a compelling choice for traders, but it adds a layer of uncertainty that most businesses can do without. Of course, if the price goes the right way, accepting Bitcoin could be a masterstroke, but you would not want to have all your takings in digital assets.
One way around the volatility concern is to convert your BTC into local currency immediately after the transaction, or at least to only keep a small float in your Bitcoin wallet. Ultimately, whether you accept crypto depends as much on your customers as your business.
How to use Cryptocurrency in eCommerce
One thing is for sure, crypto is going nowhere, and if there is demand, it is better to start meeting it sooner than later. Many cryptocurrency exchanges have sprouted up and contributed to billions of dollars in trading volumes over the past decade. However, even the most ardent crypto