Home GuidesBitcoin

Follow us on Twitter or join our Telegram

How to Accept Bitcoins In My Store?

how to accept bitcoin in my store

So you have decided that Bitcoins are a decent payment option to have on your store. I, too, would be wondering how to accept Bitcoins in my store.

Here’s how you can do it.

Create a Bitcoin address to be able to accept Bitcoins in your store

First, you need a wallet to receive your Bitcoins. Right after you create your wallet, most of them will let you generate an address that you can show on your website or store, and tell people to send their coins to that one. After you start earning BTC, you can either keep them and wait for it to appreciate in value or send them to an exchange and cash out. The exchange services do charge fees, though.

Popular exchange services that let you sell fiat-to-crypto are:

Using a Bitcoin payment processor to accept BTC

One of the easiest ways to accept Bitcoin in your store is to use a payment processor with existing point-of-sale integration. You don’t need to know anything about Bitcoin or technology to use this option. Companies offering such services can even deposit the money in your bank account in your preferred currency once the Bitcoin payment has been made. Keep in mind that they do charge fees, though.

Popular Bitcoin and cryptocurrency payment processors include:

  • CoinGate
  • BitPay
  • DC POS
  • Coinbase
  • CoinPayments
  • Blockchain.info
  • SpectroCoin
  • Coinify
  • CoinsBank
  • Blockonomics
  • GoUrl.io

Be sure to compare their fees and select the one that is the most compatible with the rules and regulations of your jurisdiction.

People can’t pay you in Bitcoin if they don’t know you will take it. There are websites, such as coinmap.org (only for physical stores) or spendbitcoins.com that will list your business as a Bitcoin-friendly service. You can also add a Bitcoin logo to your website, preferably one that says “Bitcoin accepted here.

bitcoin accepted here accept btc in store
Bitcoin accepted here sign. Source: Marco Verch / Flickr.

Bitcoin bookkeeping and taxes

Before starting to accept Bitcoin, consult with a local accountant about tax compliance - Bitcoin adoption for businesses can be a legal nightmare depending on where you live.

There are also some, although very rare, services that offer to do your taxes for you if you’re based in the US, for example.

These options mentioned above will help you and your store to accept Bitcoins. Enjoy!

For more information, see our other guides, like How to Buy Bitcoin or 10 Reasons Why Your Business Should Accept BTC.

More Guides

What is Bitcoin Lightning Network?

Bitcoin Lightning Network is a second-layer solution that uses payment channels in order to settle transactions quickly without having to wait for block confirmations.

Read more

Will Bitcoin Ever Be Stable?

Although Bitcoin has a $60 billion market cap at the moment, it is still nothing when compared with huge global currency markets. Until the BTC market cap starts to grow into the trillions, it is highly unlikely that it will be stable enough to...

Read more

A Beginner's Guide to Bitcoin ETFs

A new way of trading and investing in crypto technology, Bitcoin ETFs made headlines in 2018. Proponents of ETFs describe them as tools for driving Bitcoin adoption and a shortcut to introducing investors to the full potential of cryptos.

Read more

Bitcoin History

Public Bitcoin history begins on 18 August 2008, when the domain name bitcoin.org was registered. Later that year on 31 October, a link to a paper authored by mysterious Satoshi Nakamoto titled “Bitcoin: A Peer-to-Peer Electronic Cash System”...

Read more

Countries Where Bitcoin Is Banned or Legal 2019

When preparing to buy Bitcoin, one of your first steps should be to find out whether it is legal in your country or not. If you already know the state of your own country but are curious for the rest of them, read on! Bitcoin is not just legal or...

Read more

How does bitcoin work?

If you are wondering how to use Bitcoin, studying its inner workings might help, too. You may have discovered that the questions about Bitcoin more often refer to what it is, rather than how does Bitcoin work. In fact, these two are inextricably...

Read more