Cryptocurrency adoption has accelerated rapidly in recent years. According to Chainalysis, global crypto usage grew over 881% in 2021 vs 2020 [1]. Fortune Business Insights projects the crypto market to grow from $1.6 billion in 2021 to over $4.9 billion by 2028 [2].
Driving this growth is innovation addressing early blockchain limitations. Solutions like Lightning Network and Eth2 provide bases for faster and cheaper transactions at scale [3].
As digital assets become more mainstream for payments, merchants have tremendous opportunity to expand revenue by accepting cryptocurrency.
This comprehensive guide will equip you to securely accept Bitcoin, Ethereum, stablecoins, and other leading crypto coins on WordPress sites or custom platforms.
Table of Contents
- Benefits of Accepting Cryptocurrency Payments
- Top Crypto Payment Gateways for Merchants
- Integrating Crypto Payments with WordPress
- Enabling Crypto for Non-WordPress Websites
- Manually Accepting Payments into Crypto Wallets
- Best Practices for Securely Handling Crypto Revenue
- Fostering Further Cryptocurrency Adoption
Benefits of Accepting Crypto Payments
Before exploring technical integration, let’s examine why accepting cryptocurrency payments makes sense for merchants.
Low Fees and Global Reach
By the end of 2021:
- Global crypto owners reached over 300 million [4]
- $15.8 billion was processed in payments by crypto networks [5]
Accepting coins like Bitcoin and Ethereum allows you to tap into this worldwide consumer base beyond just your local market.
As a bonus, direct peer-to-peer crypto transactions eliminate middlemen. This reduces markups from intermediaries like banks or credit card networks.
On average, cryptocurrency payment processing fees range from 0.5% to 1% per transaction – markedly lower than typical credit card rates [6].
Enhanced Privacy Protection
Accepting crypto payments comes with privacy advantages. Customers avoid sharing financial information like credit card numbers. This reduces liability for merchants while providing desired anonymity.
Attract Early Adopters
Cryptocurrencies appeal heavily to tech enthusiasts and innovators. Given advocacy common in the crypto community, becoming an early retail adopter can quickly expand brand visibility and sales.
Enterprise brands like Microsoft, AT&T, Home Depot, Twitch, and Overstock already allow crypto payments [7]. Joining those ranks signals your modernized commerce capabilities.
Future-Proof Your Business
Digital assets show no signs of disappearing. Evaluating the crypto landscape today and enabling acceptance positions retailers for success in the Web 3.0 economy.
| Global Crypto Owners | 300+ million |
| 2021 Payments Value | $15.8 billion |
| Average Fees | 0.5% – 1% per transaction |
Now that the benefits are clearer, next we’ll compare leading crypto payment gateways.
Top Crypto Payment Gateways for Merchants
Instead of wrestling with self-hosted hot wallets…
