Today we’re pleased to announce that we’ve integrated with Coinbase, giving Shopify merchants more ways to accept bitcoin payments online.
Coinbase is an international bitcoin wallet and platform service already used by companies like Overstock.com, Expedia, and Google. Our new Coinbase integration can be used alongside other payment services, like Shopify Payments and PayPal.
Coinbase offers a two-click checkout experience and simple refunds that make accepting bitcoin payments easy and convenient. All Shopify merchants can currently use Coinbase to accept bitcoin and anyone with a U.S. bank account can convert their bitcoin to USD.
Since enabling bitcoin support earlier this year, thousands of Shopify merchants have enthusiastically adopted it as an alternate payment method.
The Benefits of Bitcoin for Ecommerce
In addition to giving your customers more flexible payment options, bitcoin offers other important features:
- Customers from around the world can check out with digital currency.
- Transactions cannot be reversed by the buyer (unlike credit cards or PayPal).
- Transactions are secure and meet the highest standards for ecommerce security.
What is Bitcoin?
Many people find bitcoin somewhat confusing. Quite simply, bitcoin is a peer-to-peer online financial network that people use to send payments from one person to another and it’s also a digital currency (also called bitcoin). The bitcoin network functions without the intermediation of a central authority. The managing of transactions and the issuing of bitcoins is carried out collectively by the network.
This short video helps explain: