If you own a WordPress site, then you must have thought about the many ways you could earn money. Well, the main question here is actually what type of money could and should you accept as payment for your services or products.
You have probably considered the many ways you can accept payment. The most usual one is PayPal, but you have a whole load of different methods of getting paid at your disposal as well. At one point, you definitely thought about accepting Bitcoin or some other form of cryptocurrency as a valid payment method on your site. But what is Bitcoin and is it really all that practical? Is it a good idea to buy bitcoin or receive bitcoin payments?#Bitcoin has been around since 2009 and more and more sites and businesses have been implementing the use and acceptance of Bitcoin as a valid #payment method. Click To Tweet
Even some electric car companies accept Bitcoin as a valid payment method. This goes to show that you can indeed get paid in the form of Bitcoins. It only depends on what you are going to be selling and which plugin you are going to be using in order to receive Bitcoin payments.
Why is using Bitcoin a good idea
Some of the reasons why using Bitcoin can prove to be very beneficial not only to you but also to your customers include:
- There is no third party involved – Usually, when you want to make a transaction happen you have to make the funds go through a third-party entity. In most cases, this comes in the form of a bank or some other entity. With Bitcoin, it is peer-to-peer which means it is more “anonymous” and there aren’t any real records of the transaction even taking place (sort of).
- There are almost no processing fees – With Bitcoin, there is no bank to charge you fees for making a transaction. Meaning there are little to no fees involved.
- It is hard to commit fraud – Bitcoins contain a very complex hexadecimal code which is hard to decipher or replicate. This makes it much less susceptible to fraud. Also, after the payment has been sent, it cannot be canceled or reversed. This is great because people that paid you in the Bitcoin currency cannot go back and cancel the transaction and it can also not be reversed.
- Anyone can pay you with Bitcoin – You can accept Bitcoins from around the world unlike PayPal or credit cards which some people may or may not have and there are different laws and rules in regards to those types of payments. Bitcoin is peer-to-peer and there are no rules or laws restricting you when it comes to who you may or may not receive payments from.
Plugins for Accepting Bitcoin Payment
1. Digital Paybox
Digital Paybox is a premium plugin that you can download and use on your WordPress site. It basically allows for the distribution of files through payments.
You can set a minimum price for each of your digital products but the person who is buying it may add additional funds to their purchase if they wish so.
The plugin can use all kinds of different payment methods, but you can also use Bitcoins through BitPay.
2. GoUrl Bitcoin Payment Gateway
Here we have another solution for receiving cryptocurrencies on your WordPress site. GoUrl Bitcoin Payment Gateway is a nice plugin that does not keep any money or Bitcoins on their servers.
You can receive payments directly to your Bitcoin or Altcoin wallet and then, later on, convert them to the currency of your choosing all in automatic mode.
The plugin gives you the ability to choose what your customers are able to pay for. By this I mean that the customers can:
- Pay per product: if you are selling a specific product.
- Pay per download: if you are selling something online like a book or something else.
- Pay per page view: people can pay to gain access to some of your premium content or videos.
- Pay per membership: you can create custom actions and offer paid access to your premium content.
So in a nutshell, this plugin is very practical as well as safe, and with it, you can sell either digital or physical products and services through your site.
3. Easy Digital Downloads
This is yet another great plugin for accepting Bitcoin payments. The plugin is completely free to use but the catch is that in order to accept Bitcoin payments you have to purchase the premium version of the plugin to unlock this feature.
4. Bitpay Checkout for WooCommerce
If you are using WooCommerce on your WordPress site and wish to receive payments in the form of Bitcoins then you can download this plugin to make that happen.
5. Bitcoin and Altcoin Wallets
And last but not least is the plugin called Bitcoin and Altcoin Wallets by dashed-slug. It is a plugin that basically allows your users to deposit, withdraw, and transfer Bitcoins and other cryptocurrencies on your WordPress site.
It is free to use, and it has all of the functions needed to make transactions with cryptocurrencies. The premium version of this plugin offers you things like exchange, airdrop, faucet, tip the author, and many more features with which you can make even greater use of this plugin.
Quick tips before you commit to any of these plugins
First, make sure that you have created a bitcoin wallet with which you will be able to receive the cryptocurrencies.
I personally recommend that you install WP Reset because it offers exactly that possibility and some other additional features that will help you in your site creation/maintenance/restore process.
As you can see, there are many ways you can receive Bitcoin payments. The only question now is which one of these plugins should you choose.
Regardless of your choice, make sure that the plugin does not have any conflicts with some of the plugins that you have already installed on your WordPress site. Also, try to use plugins that go hand in hand with other plugins that you are currently using (like WooCommerce) because there is no point in using a different plugin for each aspect of your online store.
As we can see, the steady rise in the popularity of cryptocurrencies has also increased the number of businesses that accept this form of payment. So it is only a matter of time before all of us simply start using this form of payment for any kind of transaction that we may have on the internet.