What is the Bitcoin Payment Method? How to Receive Bitcoin as Payment?

Cryptocurrencies are becoming a popular mode of online payment. Nowadays, many online business owners want to accept payment in crypto to stay competitive. There are over 9000 cryptocurrencies. However, Bitcoin is the most popular option for investment and online payments among them.

Bitcoin Payment Method

The Bitcoin payment method is a way of paying for goods or services using Bitcoin (BTC). Instead of using traditional money (like dollars, rupees, or euros), customers can pay directly from their Bitcoin wallet to the seller’s Bitcoin wallet.

How Does It Work?

Customer Chooses Bitcoin:At checkout, the buyer selects Bitcoin as the payment option.
Payment Request Generated:The seller’s website or app shows a Bitcoin address or QR code with the exact amount to be paid in BTC.
Payment Sent by Customer: The customer scans the QR code or copies the address and sends the payment.
Transaction Confirmed: Once the payment is confirmed on the Bitcoin blockchain, the amount gets deposited into the seller’s wallet.
Payment Completed:The business owner receives the Bitcoin and ships the product or delivers the service.

How to Accept Bitcoin Payments

First, you need a Bitcoin payment gateway to accept BTC. Here, CoinRemitter can be a good option, offering the lowest processing fee, high security, and no KYC requirements. We will guide you through the entire process, specifically for this cryptocurrency payment gateway.

Step-1. Create Your Account

Visit CoinRemitter’s official website.
Click ‘Sign Up’ to create your account.
Submit the required information, set a strong password, and move ahead.

You have now successfully created your account. To log in to your account, you can use your username and password.

Step-2. Create a Bitcoin Wallet

Go to the Dashboard and click ‘Wallets’.
Click ‘New’ and select Bitcoin.
Set a wallet password and preferred withdrawal speed.
Fill in the other required details and click ‘Create New Wallet’

You have now successfully created a Bitcoin wallet on this cryptocurrency payment processor.

Step-3. Integrate Cryptocurrency Payments into Your Business Website

There are three primary crypto payment integration methods on this crypto gateway:

Free Plugins
Crypto APIs
Crypto Payment Widgets
1. Pricing Widget
2. Presale Widget
3. Payment Button Widget
4. Payment Page Widget

1. Free Plugins

This crypto payment integration method works perfectly for platforms based on WordPress, OpenCart, PrestaShop, Magento, Laravel, PHP, and Node.js.

Find and download a compatible plugin from CoinRemitter’s plugin page. For example, if you want to accept crypto payments on a WordPress website, then download the WordPress plugin.
Follow the installation guide to install the plugin into your website and activate it.
Link a Bitcoin wallet to the installed plugin using its API key and password.

2. Crypto API

If this crypto payment processor doesn’t have a plugin compatible with your website, you can use the Bitcoin API to integrate crypto payments into your website. It offers higher flexibility, but requires some coding knowledge.

Visit the Bitcoin API page and review its various API features.
Follow the respective instructions to initiate API calls and integrate cryptocurrency payments into your platform.
Use the API key and password of your Bitcoin wallet to access wallet API features.

3. Crypto Payment Widgets

If you want to accept Bitcoin on your website without writing a single line of code, then you can use the widgets provided by this crypto payment processor.

a. Pricing Widget

This solution works perfectly if you want to accept Bitcoin payments for tiered pricing plans.

Go to ‘Widgets’, click New > Create Pricing Widget.
Enter a name, click ‘Next’, set its appearance, and set plan prices in your preferred fiat currency.
Go to settings, select a Bitcoin wallet, fill in other necessary details, and click Publish.
Paste the JavaScript code in the website’s code, where you want to accept Bitcoin payments.

[Note: The method of integrating the Pricing Widget into Joomla, Wix, Shopify, and WordPress websites is slightly different. You can scroll down the ‘Embed’ page to view the method.]

b. Presale Widget

This solution works perfectly if you want to add a Bitcoin payment option to your crypto token’s ICO presale.

Go to ‘Widgets’, click New > Create Presale Widget.
Set the widget’s name and enter your token’s info.
Choose a fiat currency to show the token price, and link a Bitcoin wallet to receive payments.
Set token distribution rounds, pricing strategies, and bonus offers.
Customize the widget’s appearance and fill in the necessary info under the ‘Settings’ tab.
Click Publish, get the JavaScript code, and integrate the widget into your website using it.

c. Payment Button Widget

This solution works perfectly if you want to accept Bitcoin payments or donations in a fixed amount, through a minimal button interface.

Go to ‘Widgets’, click New > Create Payment Button Widget.
Set the widget’s name and appearance.
Set the price in your preferred fiat currency and click ‘Save & Continue’.
Link a Bitcoin wallet, submit other necessary information, and click ‘Publish’.
Display and integrate the button using the provided JavaScript code.

d. Payment Page Widget

This solution works perfectly if you want to accept Bitcoin payments or donations in a fixed or custom amount, through a full-page interface.

Go to ‘Widgets’, click New > Create Payment Page Widget.
Enter the widget’s name and the page title.
Enter page description, terms & conditions, and other optional details as per requirements.
Click ‘Publish’ and get the payment page URL.
Use the URL to request payments or donations in Bitcoin.

By analyzing your requirements and exploring various solutions, you can easily integrate this crypto payment gateway into your website to accept Bitcoin payments. [Note: If you want to accept Bitcoin without performing crypto payment integration, then you can continue with creating an invoice or simply sharing the wallet address manually.]

FAQ?

What is a Bitcoin Payment Gateway?

A Bitcoin payment gateway provides you with a reliable medium to accept Bitcoin payments for your products or services.

Is It Safe to Accept Bitcoin Payments?

Yes, accepting Bitcoin payments is entirely safe. No one can reverse Bitcoin payments in any case after they are successful, so you can avoid chargebacks with this crypto payment method.

How Much Processing Fee Does CoinRemitter Charge for Withdrawing Bitcoin?

This crypto payment gateway charges only a 0.23% processing fee for transferring BTC funds to an external address.

Is Bitcoin’s Price Volatility a Big Concern When Accepting It as a Payment?

As soon as you convert your Bitcoin funds into a fiat currency or a stablecoin like USDT, Bitcoin’s price volatility can no longer be a big concern.

How Does CoinRemitter Settle My Bitcoin Funds?

This crypto payment gateway transfers your Bitcoin funds to an external wallet every 30 minutes. This only occurs when auto withdrawals are enabled. However, you can disable them by purchasing the premium membership.