You have an online store or a physical establishment and want to accept Bitcoins as a payment option to have in your store. And now you must be asking how to accept Bitcoins in my store?
Here's how you can do it.
Create a Bitcoin address to accept Bitcoins in your store
First, you need a wallet to receive your Bitcoins . Right after you create your wallet, most of them allow you to generate an address that you can display on your website or store and tell people to send their coins to that address. Once you start earning BTC, you can either hold them and wait for them to appreciate or send them to an Exchange to withdraw. Exchanges do charge fees, however.
Popular cryptocurrency platforms that allow you to exchange your fiat currencies for virtual currencies are:
Using a Bitcoin Payment Processor to Accept BTC
One of the easiest ways to accept Bitcoin in your store is to use a payment processor with an existing point-of-sale integration. You don’t need to know anything about Bitcoin or technology to use this option. Companies that offer these services can even deposit the money into your bank account in your preferred currency as soon as the Bitcoin payment is made. Just keep in mind that they do charge fees.
Popular international Bitcoin and cryptocurrency processors include:
- Coinbase
- CoinPayments
- SpectroCoin
- CoinGate
- BitPay
- GoUrl.io
Be sure to compare your rates and select the one that is most compatible with the rules and regulations of your jurisdiction.
Advertise that your store accepts Bitcoin
People can't pay you in Bitcoin if they don't know you're accepting it. There are sites like coinmap.org (only for physical stores). You can also add a Bitcoin logo to your website, preferably one that says “ Bitcoin accepted here. ”
Bitcoin Taxes
Before you start accepting Bitcoin, consult a local accountant about tax compliance – adopting Bitcoin for business can be a legal nightmare, depending on where you live.
There are also some, although very rare, services that offer to pay your taxes if you are in Brazil or the United States, for example.
These options mentioned above will help you accept Bitcoins in your store or business.