Taking bitcoins on my online store.

So I have another site (I have a few actually, I’m a website aholic) called Love and Design where I drop shop and sell other products I source or design myself. I wanted to add Bitcoin payments to the website but it uses a complex shopping cart so I have to account for a lot of things.

The platform I’m using has two options for taking Bitcoins.

Bitpay

They wanted me to provide a  lot of government ID etc, but I’m only a small start up to be honest so that’s not going to happen.

Coinbase

This is great, I just have to set up an API key which I did, but not so good I have to wait 48 hours to turn it on!.

So adding Bitcoin payments to a Shopify  site is pretty painful so far. I’m hoping to have it all online tomorrow afternoon, till then you’ll have to use another method. 🙁

What worries me about taking Bitcoins on an online store.

I’m not ACTUALLY worried about taking Bitcoin in itself, I trust it. But there may be some issues:-

a. Cashflow – this won’t be an issue to be honest, because I have a Bitcoin debit card, so provided my transactions don’t get stuck, I should be able to keep up with getting stock where required.
b. Scammers – to be honest, with Bitcoin once they have sent me the coin there is no come back (which is why I have been scammed so much investing in things).
c. Credibility – will it reduce the credibility of my store? (to be honest, as most people don’t know what Bitcoin is I should be ok).

Good points

a. I can do a link back to my getting started page on this site for those who are interested.
b. It will increase my customer base to include those not in this country or those who don’t have a credit card.
c. Once I have the Bitcoin, I have it, they can’t get it back. Charge backs are a huge risk for any online marketer, I know someone who sold £3000 worth of stock to someone and even though the bank said it was fine, it was charged back, a scam.

Updates tomorrow

Here’s the site that I’m working on.

 

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *