How to Accept Crypto Payments for e-Commerce Projects

Just over a decade ago, people would have laughed at you if you decided to hold some noticeable part of your investments in cryptocurrency. The abstract nature of virtual currency secured through various cryptographic and computer-generated means was puzzling and frightening.

However, after a while, people's interest in crypto has skyrocketed, thanks to new highs, investment opportunists, and payment methods brought by it.

Regardless of whether you like it or not, cryptocurrency is practically everywhere these days, challenging traditional (fiat) currencies and payment methods. Despite fluctuations ad instability of exchange rates, people are overwhelmed by the anonymity and confidentiality it proves.

The fact is that many traditional businesses are actively and efficiently integrating cryptocurrency into their platforms in some form or the other or using it as a means to launch different types of products, accept payments, and simply be ahead of their competitors.

For sure, such cryptocurrencies like Bitcoin, Dogecoin, or Ethereum have a constantly increasing track record of holding and gaining in value over time. Never mind the recent massive dips that crashed the market for a while. However, less spread and known cryptos are certainly much more speculative, risky, unpredictable, yet, potentially profitable.

According to official statistics, as of 2021, it was estimated that global crypto ownership rates were an average of 3.9%, with over 300 million crypto users worldwide. Last year, over 18,000 businesses were already accepting cryptocurrency payments, and probably those as much were planning to.

Yet, their central dilemma was to learn how to do it properly, which is safe for all parties involved and does not generate extra fees.

E-commerce and Crypto Payment Methods

Cryptos and e-commerce walk hand in hand with one another, nicely complementing each other and appealing to digitally-savvy clients and customers. Cryptocurrency used as a payment method offers another more convenient and flexible way to pay for goods and services, probably forming an inevitable part of e-business and a must-have for an e-commerce retailer.

The same demand that has propelled the digital retail world initially is fueling digital payments. Cryptocurrencies are said to provide much more freedom of choice, not being bound to credit cards, banks or cash. It is also less traceable and often more secure.

Yet, the matter is to do it the right way to not damage but complement your existing pool of services.

And yes, we do appreciate the recent volatility in cryptocurrency prices and even the failure of some crypto. Nevertheless, the fact is that massive e-commerce platforms like BigCommerce, WooCommerce, and even Shopify are anticipating those risks via supporting cryptocurrency payments using crypto wallets like Edge, Coinbase, BitPay, GoCoin, or CoinPayments.

The Ways to Accept Payments Using Cryptocurrency

The prime two methods available in accepting crypto payments as e-commerce retailers are relatively straightforward. Namely, you can use your own private crypto wallet or involve a third-party payment processor. Let's consider both of them in more detail.

Obviously, if you want to use your personal crypto wallet, the minimal requirement is to have one available. These are usually quickly downloadable to various devices, varying among cloud and physical device solutions.

That is to say, that information can be stored using a special hard drive or a cloud. Both have their pros and cons, but it is you who should handle all of the admin work.

Outsourcing this process is another feasible solution so that a third-party payment processor, such as for instance BitPay or CoinBase will handle the whole process for you. In simple terms, it is just like credit or debit card providers do. This saves you a great deal of admin work plus protects you from an adverse currency fluctuation.

Since cryptos are well-known for price volatility, such processors can automatically convert the cryptocurrency received into fiat or other assets of your choice. Hence, you ensure you obtain the amount you charge, not having to worry about the potential risk of a sudden extreme or dramatic change in the crypto exchange rate.

Surely, choosing a wallet is not an easy process as not all of them can be trusted or relied on. Also, they charge a fee, which can often be quite considerate and not much welcomed by your customers.

If you are interested in starting your own crypto trading platform, you need a team of blockchain developers and prepare to spend substantial time and resources.

However, in case you are not, there is a much faster and almost instant solution to start accepting cryptos for your business. Please continue reading to learn more details.

Welcome SHKeeper

We are pleased to introduce you to SHKeeper — a self-hosted and open-source cryptocurrency payment processor allowing you to accept crypto payments almost immediately.

It offers the profound combination of gateway and merchant, resulting in a revolutionary new opportunity for those seeking to accept crypto payments avoiding extra fees, third parties, and intermediaries.

SHKeeper Background

VSYS Host always aims to be one step ahead of the market; hence, once we've identified the need for our own crypto payment processor, we did not hesitate long. All our clients and customers greatly appreciated this innovation, which allowed us processing of crypto payments smoothly and commission-free. No need to mention a great deal of competitive advantage we've received.

Bitcoin, Dogecoin, and Litecoin, are waiting for you to start accepting crypto payments, not having to pay tributes to go-betweens and unwanted fees.

However, we don't have bad habits of keeping all good things to ourselves! This is why we decided to roll our SHKeeper at GitHub, available to everyone who may ever need it.

It is not rocket science to connect it, but in case you may want to save yourself some time or simply require assistance, our team is always happy to help.

SHKeeper Features

1. Multi-Currency
2. Direct Crypto Payments
3. Ability to Set Your Exchange Rates, Commissions, or Fees
4. Crediting the Overpayment to the Balance
5. Partial Payments
6. Setting Auto-Payments Into a Cold Wallet
7. No Transaction Fees
8. No Third-Parties
9. Increased Privacy and Security
10. No KYC
11. Non-Custodial
12. Independent Software
13. SegWit Support
14. Easily Embed Payment Buttons
15. Full Internal Wallet With Hardware Wallet Integration

Brief SHKeepper Installation and Launching Instructions

All you need to do is install SHKeeper into Kubernetes, Doker, or cloud. Then attach cryptos of your convenience. Receive payments. That's it.

SHKeeper inevitably detects all other crypto wallets. The processor makes it also possible to make payments into other wallets or crypto stock exchanges.

SHKeeper can also be integrated into any existing CMS or payment system.

If you would like to run Bitcoin and Lightning Network nodes, the minimal requirements are as follows:

• 2GB Ram • 5 GB of storage for each cryptocurrency and 5 GB for the Docker controller.

Use It As Your Own Wallet

Noticeably, using SHKeeper as a daily multi-currency crypto wallet is not a problem. The processor is straightforward to use and relatively safe to store your riches. It can be accessed at any time using your private key.

It allows you to back up the blockchain key and restore the key through your other crypto wallets. Overall very practical and efficient. No different from an ordinary wallet: store, transfer, and accept payments as you do.

SHKeeper is a strictly confidential crypto-wallet that does not require the user to provide personal information. Personal information cannot be leaked because it does not store/transmit user/device data or private financial information. Hence, it does not provide cybercrime, not providing any grounds for it.

Popular CMS, plugin, or billing system connection friendly

SHKeeper is set for integration with any of the most ubiquitous CMSs, plugins, and billing systems. This makes it especially attractive to a wide range of business owners/representatives of online stores/e-commerce.

SHKeeper enables you to accept payments in cryptocurrencies, including Bitcoin, Dogecoin, LiteCoin. However, the processor is commission-free, eliminating any room for maneuver for intermediaries or third-party services, benefiting yourself and your clients.

SHKeeper is available to any e-commerce project

Seeing is believing but trying SHKeeper is the most optimal and feasible option. After all, it is open-source and available on GitHub, featuring 0% commission and a high level of security. Mind you, we have also eliminated intermediaries.

We've got plenty of options for you, one of them DIY – install SHKeeper in your e-commerce project to accept cryptocurrency payments. However, it may look more feasible if you involve us to assist you with installation and configuration, whereas our team is always standing by for any further assistance or maintenance.

Perhaps, we can take it even further by customizing our processor for the very need of your particular project. Either way is to your benefit, whereas sharing expertise is not a problem on our side.

SHKeeper makes it feasible for store-owners and charities to obtain Bitcoin, Ethereum, LiteCoine, and other cryptocurrency payments, allowing for a significant increase in the privacy and confidence of donors and customers.

Key Benefits

The processor is absent of subscription or transaction fees. The lack of an undesired intermediary significantly improves the censorship resistance, privacy, and security for you and your clients.

SHKeeper's non-custodian nature totally guarantees money management and safety. A private key ensures your total money control; no one else can withdraw money but you. Importantly, this was inspected and validated by GitHub as subject to any back doors or other fraudulent possibilities.

KYC is out of scope as not required, saving time and significantly reducing complexity. This option is especially favored by customers, reducing unnecessary complexity. Since almost everyone suffered so far from identity proof, photo verification, and all other "perks".

Summarizing

We did our best to incorporate the maximum strong points but reduce to the minimum unwanted or weak parts. Plus, open-source is obviously easier to try, especially bearing in mind that full tech support is always available, including configuring, adapting, and installing everything for you and your project.

At last, SHKeeper makes it possible for you to become a processor yourself. Then you decide whether you want to focus on the local market or take it further to the international landscape.