January 20, 2023
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WooCommerce is a fully customizable, open-source ecommerce platform built for WordPress. Users can sell physical and digital goods in all shapes and sizes, offer product variations, multiple configurations, and instant downloads to shoppers, and even sell affiliate goods from online marketplaces. WooCommerce competes with many online store applications, including Shopify.
The free WooCommerce plugin is available on WordPress.org, and here’s how to set it up on your website. WooCommerce extensions enable and improve a site’s functionality. Hundreds of fantastic extensions are available for store development, management, marketing, payments, shipping, accounting, tax, etc. For example, popular payment extensions include PayPal, Square, Amazon Pay, Alipay, and more. WooCommerce plugins are also available on WordPress.org.
Web3 payments using blockchain technology and decentralized finance (DeFi) to facilitate secure and transparent transactions are gaining traction. So, merchants who accept cryptocurrencies gain advantages, such as access to a broader market, ease of cross-border transactions, buyer anonymity, and security features. Also, they can eliminate intermediaries and chargebacks and pay lower processing fees. However, bitcoin has its share of ecommerce challenges, including volatile transactional costs, prices, and processing times. Additionally, bitcoin and cryptocurrency markets attract ongoing government intervention, hackers, and bad actors, which can demotivate potential users.
Paying with cryptos is more mainstream than many merchants and shoppers think. For example, Walmart, Microsoft, Best Buy, Expedia, Dish, and Newegg are just a few of the thousands of merchants who accept bitcoin globally. Also, a survey of 2,000 executives found that 75 percent plan to accept cryptocurrency payments within the next two years. Respondents spanned various industries, including cosmetics, electronics, fashion, transportation, and food.
Before accepting bitcoins, altcoins, and stablecoins, you should understand the fundamentals, including:
- Bitcoin, stablecoin, and cryptocurrency benefits, drawbacks, pros, and cons
- Types of wallets and best practices regarding security
- The marketplace, exchanges, transactional costs, and conversion fees
- Your reasons for wanting to accept digital currencies
- The likelihood of customers using digital currencies to buy your products/services
- How your business operations and policies would change
Best WooCommerce Bitcoin Plugins
Enabling bitcoin transactions on your site involves selecting, installing, activating, and setting up a plugin. Plugin developers frequently provide installation guides, videos, FAQs, and user support. Alternatively, hundreds of WooCommerce specialists are on Fiverr.
Blockonomics is a decentralized payment processing system for merchants accepting digital currencies. It helps thousands of ecommerce sites increase sales by enabling Bitcoin, Ethereum, Litecoin, and other cryptos for customer payments. Furthermore, it offers a P2P encrypted invoice solution and integrates with various ecommerce apps, including Shopify, Wix, Squarespace, Opencart, and Prestashop.
The Blockonomics WooCommerce plugin allows you to accept BTC and altcoins and supports all major fiat currencies and HD (hierarchical deterministic) wallets, including Ledger, Trezor, Blockchain.info, and Exodus.
MyCryptoCheckout enables you to accept peer-to-peer (P2P) cryptocurrency payments, eliminating middlemen and transaction fees. Also, payments flow directly from the customer to any wallet you choose, making it an excellent payment gateway for WooCommerce, WordPress, and Easy Digital Downloads.
MyCryptoCheckout supports 200+ coins and has robust checkout, fiat auto settlement, and donation features. The free plan supports up to five transactions monthly, whereas the premium plan supports unlimited transactions. Review how it compares to other popular crypto plugins and payment apps.
Binance is one of the most trusted and largest full-stack cryptocurrency companies globally. Its products and services include trading, storage (Trust Wallet), proprietary coins (BUSD and BNB), education, data, research, social good, funding, decentralization, infrastructure solutions, APIs, and a debit card.
A third-party Binance Pay plugin is available on WordPress.org.
BTCPay Server is a free and open-source cryptocurrency payment processor that allows you to receive payments in Bitcoin and altcoins directly, with no fees, transaction costs, or middlemen. Payments with BTCPay go directly to your wallet for increased privacy and security. In addition, your private keys are never sent to the server.
The BTCPay for WooCommerce has an excellent rating and comes packed with features.
GoUrl is a global provider of online cryptocurrency payment solutions, enabling vendors and consumers to transact with each other. Its gateway is based on a different technology than standard portals. In addition, it integrates into website pages so that no external payment pages remain open, unlike other payment gateways.
GoUrl has several WordPress plugins. For example, the GoUrl WooCommerce plugin enables you to accept bitcoin and several altcoins. You can choose from three payment integration options and receive payments directly. White-label and subscription options are available too.
Cryptocurrency Donation Box allows you to accept 30+ major cryptocurrencies on your WordPress website for payments and donations. Add your wallet’s address and use the shortcode on any page, post, or sidebar. It supports various crypto wallets.
BitPay builds innovative, enterprise-grade tools for crypto acceptance and spending. They are pioneers in building blockchain payment technologies to transform how businesses and people send, receive, and store money worldwide.
The BitPay Checkout for Woocommerce supports cryptocurrency payments from your customers, including Bitcoin, Ether, Ripple, Bitcoin Cash, and USD stablecoins. You can view all incoming payments and refund orders on your BitPay merchant dashboard.
Coinbase enables businesses, individuals, and traders to transact digital currencies. Also, users can create digital wallets and start buying and selling bitcoins by connecting their bank accounts. Finally, it provides many merchant payment processing systems and tools.
The Coinbase Commerce Payment Gateway for WooCommerce plugin supports Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and USD Coin.
CoinGate is a payment gateway for blockchain payments. Its mission is to grow the adoption of cryptocurrencies by providing a robust payment infrastructure that caters to the needs of merchants and customers.
The CoinGate WooCommerce plugin accepts bitcoin and 50+ cryptocurrencies, including Litecoin and Ethereum. Also, CoinGate provides a sandbox environment for testing.
CoinPayments is a digital currency payment solution allowing merchants to accept Bitcoin and over 1,700 altcoins through easy-to-use plugins, APIs, and POS interfaces. With nearly three million user accounts and merchants across 182 countries, CoinPayments is one of the most comprehensive multi-cryptocurrency platforms in the world.
The CoinPayments.net Payment Gateway for WooCommerce plugin implements a payment gateway to allow buyers to pay with Bitcoin, Litecoin, Ripple, and other cryptocurrencies.
Crypto.com Pay allows you to accept Bitcoin and other high-volume cryptos on your website. There are no transaction or setup fees, and you can easily send invoices and payments using an intuitive dashboard.
Crypto.com Pay Checkout is a payment gateway plugin for WooCommerce.
Mollie is a technology-based company that processes payments through Mastercard, VISA, Amex, PayPal, iDEAL, Bancontact, SEPA Direct Debit, and SOFORT Banking. It aims to simplify online payments by improving payment process efficiencies and using robust APIs.
The Mollie WooCommerce plugin no longer supports transactions involving cryptos. However, its other payment products might support your objectives.
Stripe no longer supports bitcoin payments. However, its payment gateway for WooCommerce allows you to accept various payment methods, including Apple Pay, Google Pay, and SEPA. Stripe’s other products might bridge the gap for crypto purchases.