In parts one and two of our series, we discussed how we got involved with Bitcoin and accepting Bitcoin as a merchant.
In part three, we left off talking about paying with Bitcoin and the Digital Wallet we chose to use.
With this fourth and final installment, we’re wrapping things up by discussing how it all works with Content Shelf, as well as outlining the benefits to accepting Bitcoin.
How It Works With Content Shelf
Accepting and paying with Bitcoin is extremely easy for both sellers and buyers. Here’s a quick breakdown:
- Step 1 – Sign up for a Bitypay account. After the account is set, grab the API Key, which can be found within the Shopping Cart and API Access area of the dashboard.
- Step 2 – Add the API Key to the Content Shelf Account within the Store Settings area.
Whether the buyer is new to paying with Bitcoin or a seasoned veteran, BitPay makes the process extremely simple.
A buyer will need a digital wallet. This wallet can be online, which is called a virtual wallet… or the wallet can be located on their system, which is called a client side wallet. And obviously, regardless of the type of wallet, it must have available Bitcoin to spend.
- Step 1 – Choose to Pay With Bitcoin on the checkout page.
- Step 2 – After choosing the Bitcoin Payment Option, fill out the required information, and click “Continue” to be transferred to the Bitpay Payment screen to pay.
- Step 3 – After payment is accepted, the Bitpay screen will present a transaction confirmation and link back to Content Shelf to access content.
Benefits of Accepting Bitcoin
Bitcoin can be attractive to sellers for many reasons, including:
- Low transaction fees (leads to more competitive pricing and more sales)
- Ability to do business globally without any currency issues
- No credit card charge back fees (yeah!!)
- Publicity (be the first to market for your product and get noticed)
- Opening up sales to a whole new market
Bitcoin can also be attractive to buyers too:
- Instant purchasing power
- Safe and convenient
- Less expensive that traditional transactions
- Ease of use in any situation
All in all, we feel Bitcoin is still in its infancy… but its potential to become THE Internet’s payment method is quite possible.
Also, we feel sellers who are early adopters in their space will benefit as its use becomes more mainstream.
And finally, we recommend adding it to your payment lineup next to accepting PayPal and Credit Cards.