Tuesday, November 19, 2013

Your business can accept Bitcoin in 5 minutes

Bitcoin is a great way to get paid because transactions are irreversible and bitcoins can't be forged. So there are no worries about credit card chargebacks and almost no worries about fraud.

The easiest way to accept payment is through Coinbase. After signing  up on their site you can use the Coinbase merchant tools to invoice a customer via email.

Coinbase will let you avoid the price conversion fluctuations of Bitcoin by immediately converting your customers Bitcoin payment into cash and depositing it into your bank the next day. They charge a 1% fee for this service, but have a special right now where the first million USD in sales has no charge.

Coinbase also has services to setup shopping carts allowing customers to buy merchandise from your website with Bitcoins, but that takes a little bit more work to setup. If the volume would support it you may even be able to automate it where they order a product from your website, your website orders from the supplier and then when the order is delivered the customer is emailed for pickup.

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