In this video I show you how to accept Bitcoin and other cryptocurrencies in your Shopify stores.
🎧 Music: “Raw” by Johnny Rock
🎙 Voiceover/Quote by Brock Pierce
Whether you love it or hate it, Cryptocurrency and it’s foundation, blockchain technology is the future of the internet as we know it. Or as Brock Pierce (founder of EOS and Blockchain Capital) calls it, “it’s the new internet. -It’s the upgrade.”
And just like the earliest Bitcoin investors who made hundreds of millions in a matter of years, it’s the early adopters who come out ahead… So let’s setup your eCommerce business for success. This is how you can accept Bitcoin and other cryptocurrencies in your Shopify store. I’ll show you how to accept payments with Bitcoin, Ethereum, Litecoin and Bitcoin Cash through your checkout pages.
🛠 Step 1: Enable The Alternate Payment Gateway in Shopify
From your Shopify dashboard navigate to Settings then Payment Providers and you’ll be able to see all the current payment options you have available in your store durring checkout.
Scroll down until you see the Alternative Payments section.
From here you’ll see a large list of 3rd party payment gateways and processors to choose from. In this video we focus on using Coinbase Commerce and BitPay. Coinbase let’s you accept Bitcoin, Ethereum, Litecoin and Bitcoin Cash, while BitPay is solely used for Bitcoin payments.
Coinbase is by far the world’s biggest crypto-exchange and management platform. It’s also the most popular with people just starting out in the crypto space. This is the gateway I choose to use on the Shopify stores, but a lot of people have security/trust concerns with Coinbase.
It you fall into that category you can also choose to use BitPay which is also free to use and just as easy to setup.
Depending on what you choose, use the links below to signup and create your account on the gateway you’d like to use.
➡️ Sign Up For Coinbase Commerce: https://Commerce.Coinbase.com
➡️ Sign Up For BitPay: https://BitPay.com
🏦 Step 2: Setting up Your Payment Gateway/Merchant Accounts
Once you’ve selected who you’re going to use to accept payments you’ll need to setup and verify your account with them.
Each service is free to sign up to and only takes 5 minutes to fill out and verify all your details. Basic things like your name, email, business information and where to deposit funds to.
You can choose to have payments automatically converted into US dollars and deposited into a regular bank account or sent directly to a crypto wallet for safe keeping. (Some fees apply when transferring to a bank).
🔗 Step 3: Linking Your Account Your Shopify Store
Once everything is setup and ready to go you just need to link your new account to your Shopify store via copying and pasting the provided API keys in the Alternative Payment gateway section we found earlier.
For Coinbase Commerce you’ll find your default API key right on your main dashboard after logging in.
For BitPay, you need to navigate to Payment Tools, Integration Resources then Legacy API Keys. Click the “Add New API Key” button at the top to create a new key.
Before you copy it click edit and rename it to something you’ll recognize to keep your account organized as you add more websites. So if you only intend on using it on this one website title it something like “Shopify” or enter the names of each store.
Once you have your API keys created and ready to go, navigate back to Shopify and paste them into the new gateway and click save. That’s it!
I hope you guys enjoyed this video. Make sure to click subscribe to get my latest uploads and use the links below to follow me on Instagram, Twitter and Facebook.
Check out some of my other videos and guides:
💰 How I Make $1,783/Week on Shopify With FREE Instagram Traffic https://www.youtube.com/watch?v=z-5ShVYdsd8
💵 Easiest $300/Day Business For 2019 | Lead Generation [FIRST CLIENT IN 48 HOURS]: https://www.youtube.com/watch?v=VNYRWRXuQo0
💡How I Got Started & Why I Do What I Do: https://www.youtube.com/watch?v=OLbA7NLfwWs
+Prince Kid Buy THETA and LOKI... hot tips from my crypto dev friends.
If the typical BTC cycle is 80-90%
corrections for a year followed by 100-259x increases for 3 years there will be fortunes made there. More so for the good case use alt coins, which will be doing 1,000x moves and beyond.
Been going through these for an hour. My new year's resolution. Yours is the best. Do one more of these, not through shopify. I would be sending clients an email link. Can you suggest the best way to do that please?
Hey, awesome video btw! Must feel good to have a 455:1 like ratio haha. If you read this and have time I would like to know if the problems you had with Paypal were due to long shipping times or extremely overpriced dropshipped products? (No offense if that's what you were doing I just want to find out if Paypal would still be viable if the products I'm selling are very cheap with low margins and fast shipping do you think a store like that would have many problems with Paypal?) Thanks!!
The last straw was showing PayPal racial slur ridden emails us customers admitting to filing false claims to defraud us and receive free products and PayPal still siding with the buyer. I'll leave it at that.
Hey Matt, I sell stuff like kratom, pine pollen and other "high Risk" products. Paypal and stripe have both shut me down within a week on my shopify store. If I accept bitcoin will I still get shut down? Any chance that shopify will shut me down? Just wondering.
Your best bet will be to accept crypto for payment on a WordPress website you own and control 100%. Shopify has their own restrictions on what you can sell and what you can't even if you have a payment processor that will work with you.
Wonderful info! Don’t you just lose a lot of sales by disabling the PayPal payment method? Or there’s a way of receiving the PayPal money but not through paypal? I am just asking if anyone knows that can let me know
Henry Destin For anything that’s not extremely low risk or a digital product, yes. Right now I have a PayPal account with $8k+ sitting in it I won’t be able to touch until December. So I made the money, but it really doesn’t matter since PayPal just hold it and will wind up giving half of it back to customers and letting them keep free products.
Hello Justin , i wanna ask you important question , i am from turkey so stripe does not support here , i have a payoneer account i but today i talked with one company in usa , they arrange all stripe and payoneer transactions and they arrange all taxes from sales but they want %25 percent of my revenue , do you think is it smart to cooperate with them? other wise i think i need to open company in usa for taxes , because people says stripe blocked the stores which doesn't have esn number , thank you!
Hi. I'm an accountant and 25% seems high. What taxes on international pass through sales? I don't think any. They would only have to pay taxes on the 25% they are withholding, not the money they accept and transfer to you.
I pay my web designer in Ukraine using UpWork. You could be a contractor on there, and bill that way. Check what they take and if that's worthwhile?
Or how about using Coinbase? Seems like bitcoin would be ideal, no?
Hi there, I was trying to open a shopify store two days ago. To see if finally I could grow financially and pursuit my dreams. I don't know how to get everything done and sell products. Your videos are amazing. Can you please help me?
13,500,000 GRAM Plan to sell.
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