Aug 4, 2018 at 15:30
Nov 6, 2018 at 07:44 UTC
Coinbase’s New Plugin Will Allow Any e-commerce Site To Accept Crypto
There’s some brilliant news for anyone who holds an e-commerce site on WordPress and wishes to accept crypto payments for their site. Coinbase has launched a new plugin, called WooCommerce plugin that would allow merchants across the world to accept cryptocurrencies, especially bitcoin and litecoin. This is part of Coinbase’s ongoing efforts to support cryptocurrency and create a more accepting financial system.
The plugin has already garnered immense popularity and already hosts 28% of all online stores, according to latest updates on Coinbase’s blog. Merchants willing to install this plugin just have to download the payment gateway as a zip file from GitHub. However, businesses that wish to install this payment gateway have to migrate to a whole new system before they can start using it.
So how exactly will the transaction process work? Customers will have to send the payments directly from their crypto wallet to a crypto address that will be merchant-controlled. The brilliant part about this is that no extra charges will be born by the merchants while accepting payments and they will be in full control of their funds.
How much does it cost to run a #WooCommerce store?
The good news is that you have a lot more control over what you spend and when than with most other eCommerce platforms.
Here's a breakdown of common setup costs for a Woo store: https://t.co/ODawQJg2WS
— WooCommerce (@WooCommerce) August 2, 2018
It seems like Coinbase also has plans to put in a “React” payment button which would allow merchants to accept cryptocurrency payments for a diverse range of projects from accepting donations for open source projects to selling tickets for a music festival. What the React payment button will essentially achieve is that it will allow users to embed a Coinbase Commerce checkout within the React application.
Woocommerce has also recentlypartnered with Stripe payment, making the whole process of accepting crypto payments that much more easier. Stripe allows online payment processing and it additionally allows individuals and businesses to accept payments over the Internet.