Crypto is taking the world by storm as Bitcoin, Etherium, and the new coin named Dogecoin is already accepted by major e-commerce websites. In this article, we are going to learn how to set up a crypto payment gateway on WooCommerce. Before we discuss the how-to guide, we’ll take a close look at the pros and cons of using crypto as a payment method.
Benefits of Using an Encrypted Payment Gateway on Your Ecommerce Website
- Crypto is widely accepted by big brands, even countries give Bitcoin legal tender status.
- There is very little to no interference from the government when transferring crypto assets.
- You can do international transactions with very low or no transfer fees.
- It only takes a fraction of a second to transfer the payment using crypto coins.
NOWPayments provides merchants with a Woocommerce crypto payment plugin as well. All you need is to sign up (free!), specify your wallet address, get an API key, and install the plugin on your website following the instructions. Benefits include fast, secure, and private transactions, no bank interference, and easy installation.
Cons of Using an Encrypted Payment Gateway on Your Ecommerce Website
- Crypto is very volatile, so you can never know when the market is going to explode or fall.
- Many countries try to ban crypto transactions, so you need to know the government status of crypto in your country.
- There is a potential for high fund loss if the crypto market goes haywire.
- Hackers and black markets pose a high threat to crypto payments.
Therefore, I would advise you to be considerate when dealing with crypto assets. With enormous growth potential, this market also poses a threat of loss of funds. This guide does not provide financial advice and the reader’s discretion is required. If you’ve decided to include a crypto payment gateway in your e-commerce store, we can take it a step further.
In this guide, I will be using GoUrl Bitcoin Payment Gateway. It’s easy to customize, 100% free with open source code, and doesn’t include any transaction fees. You can also choose another plugin by reading this article on Best Cryptocurrency Plugins For WordPress 2021
First, go to the gourl.io site and create your account. If you own your website you can choose the Monetize option – Sell your files online or if you are the original owner you can go ahead with the Bitcoin Paybox option for your website.
Create an account on GoUrl
Go to Account, click the I am human button, and continue to register a new account.
Fill in the relevant details. This process is as simple as creating any other online account.
Once you are done, click on the Register button. You will receive a confirmation email on your email id once you confirm it. You will see a login window. Simply log in using the username and password you used in the previous step.
Once you are done, continue by clicking on the ‘ Create New Payment Box ‘ option and you will see a form like below.
Payment Box Name: Insert your website or store name (don’t worry, it will only be visible to you)
Coin Name: Choose a relevant cryptocurrency based on your choice of receiving payments. You can see the supported cryptocurrency on GoUrl below.
Payment box type: You can choose the payment box or captcha box as the payment button to display on your website.
Your external wallet address: You can use your crypto wallet address from any major crypto exchange or crypto wallet. You will see a receiving or depositing crypto address, simply copy it and paste it here.
Lock external address forever: If you don’t want to change your wallet address in the near future, use this box, otherwise leave it blank.
Email notification: Insert your email id to receive notification on your email whenever a customer sends payment through this encrypted payment gateway.
Callback URL: You can leave it blank. This option allows the Urlgo server to notify your website whenever a payment is received.
Use on adult/gaming websites? : If you want to allow encrypted payment on adult and gambling websites, use Yes. Otherwise, choose the No option.
Verify that it is you: Click get code to receive a confirmation email on your email id to confirm using the details mentioned above.
When you’re done, click the Save button.
You can now access your information through the view mode window.
You can keep this window open until we make the required changes on the WordPress dashboard to use the Crypto payment gateway. You will need the Public Key and Private Key in the following steps.
To get started, you need a WordPress website and a WooCommerce plugin. Follow these 2 articles on how you can configure both on your hosting server.
How to install WordPress?
How to install and configure a WordPress WooCommerce plugin
Install and configure the GoUrl plugin on WordPress
If you have already installed both, you can follow the next steps.
- Go to Plugins> Add new
- In the search box, type ” GoUrl Bitcoin Payment Gateway “
Here you will see two plugins namely GoUrl Bitcoin Payment Gateway and Paid Downloads and Membership and GoUrl WooCommerce – Bitcoin Altcoin Payment Gateway Add-on. Install both and then click the Activate button.
- Now you will see an additional “ GoUrl Bitcoin ” tab on your WordPress dashboard. From there, go to the Settings option.
- Scroll down until you see the cryptocurrency options.
- From there, choose your selected part and copy-paste the Public Key and Private Key provided in Window View Mode, by the GoUrl website in the steps above. For example, I used Bitcoin payment. Save when done.
- Go to WooCommerce> Settings, from the available options, select Payments.
You will see different payment options provided by WooCommerce, scroll down to the last option where you will see the Bitcoin / Altcoin option. Make sure the button is enabled, then click Save changes.
You are done with the backend setup of your cryptocurrency payment gateway, now let’s visit the website frontend and see how it works.
Select the desired product from the shop option of your website.
Click the Add to cart button.
Click the Checkout button. This will bring you to the payment window where customers can fill in their billing details and see payment options as below.
Click the Checkout button. This will bring you to the payment window where customers can fill in their billing details and see payment options.
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