![]() When scaling up your store, the total cost for your transaction fees can become significant.Ĭrypto payment gateways offer a much lower transaction fee, which is a significant advantage compared to regular payment gateways. If you’ve read my article on the 7 best payment gateways for online stores, you will know that the transaction cost is an important thing to consider when picking a payment provider since they can be pretty hefty.įor typical payment gateways, the industry-standard transaction fee is 2.9% + 30¢. No one knows if the current levels will be an all-time high in the future or that the price will continue to rise in the coming years. Remember that past events don’t give a guarantee for the future. While the value of most cryptocurrencies has increased in the past years, it doesn’t mean that the value will continue to rise in the future. I have shown Bitcoin as an example, but most other cryptocurrencies have followed the same pattern and have risen in value, especially when looking from a long-term perspective. Despite this massive peek, Bitcoin has risen in value again over the years and is currently way past its previous all-time high! In other words, some merchants expect the value of cryptocurrencies to be higher in the future.Ĭurrently, the prediction of these merchants has come out to be correct so far.Īs an example, let’s take a look at the price graph of the most popular cryptocurrency, Bitcoin: Source: CoinMarketCapĪs you can see, Bitcoin’s value saw a rapid ascent in late 2017, following a steep decline again. They see it as a chance to invest money into an asset to generate more money in the end. While some merchants look at the volatility of cryptocurrencies as a risk, like I talked about earlier, other merchants see it as an opportunity. So, what advantages does it have to accept crypto payments on your Shopify store that causes increasingly more online stores to start implementing it? 1. Will you convert it to USD or wait for it to rise back to $100 again?ĭespite this risk, increasingly more merchants are willing to accept Bitcoin and other cryptocurrencies on their online store. What if someone pays you $100 in Bitcoin, but at the end of the day, it’s only worth $90. This volatility is a risk for you as an online business owner. Cryptocurrencies are known for their volatility (meaning that their USD value can fluctuate a lot during the day). Want to Learn More? 5 reasons why you should accept crypto payments on your Shopify storeĪccepting cryptocurrencies can be a risk for your business. Shopify cryptocurrency ticker free#Tip: Did you create your Shopify account already? If not, sign up by clicking this link here to get a free trial! In case you’re worried that it’s going to be difficult, don’t worry it’s not rocket science.Įven if you’ve no experience with cryptocurrencies, accepting crypto payments on your Shopify store is as easy to set up as any of the other payment gateways such as PayPal or Shopify Payments.īefore showing you exactly how you can start accepting crypto payments on your Shopify account, I’m going to show you some reasons why you might (or might not) want to start accepting crypto payments on your Shopify store! In this article, I will give you several options to accept cryptocurrencies on your Shopify store. Since you’ve landed on this page, I’m assuming that you’ve already decided to try it out, which is excellent! With cryptocurrencies becoming more and more popular, it’s worth thinking about whether or not you should start accepting Bitcoin and other cryptocurrency payments on your Shopify store. ![]()
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