How To Accept Bitcoin on Shopify


In this video I’m going to be showing you
guys how to accept bitcoin and other crypto currencies in your Shopify stores. But before we hop onto my computer and we
show you how it’s done, what are the benefits of this? You know we see all these major companies
today like overstock.com just started accepting crypto, Tesla let’s you buy a car off their
website with Bitcoin and of course you can still head down to Orange County Lamborghini
and buy a brand new Lamborghini 100% with Bitcoin. You know the famous Bitcoin Lamborghini that
went around YouTube here a while back no matter what your opinions of that are. But one of the big benefits is. instant payments. When someone pays you with crypto, it’s
yours. No questions asked. Now technically the blockchain for Bitcoin
and Bitcoin Cash isn’t instant, but hat I mean is theres no middle man. There’s no credit card processing company
that’s gotta process the payment, no bank account that’s gotta transfer your money
and of course theres no companies like PayPal who are gonna hold your money for 60 days
and then they also you know, cover buyer’s remorse. You know, the customer just says “Yep I
changed my mind!”, PayPal jacks the money out of your account, gives it back to them
and they get a free item. You know that’s a story for another day,
but we actually took PayPal off all our Shopify stores a while back because we were losing
so much money. You know, I think when people are starting
out that’s another thing they don’t realize and that’s going to be a good segway to
the second benefit. When you own a large six or seven figure eCommerce
business like we do, you don’t realize how much time and money you waste fighting people
who are trying to defraud you and get free stuff from you. All the fraudulent chargebacks and all the
fees that come along with it and PayPal disputes and everything else… Speaking of PayPal or speaking of Tesla, I
wish Elon Musk would get some free time in the future, buy back PayPal and straighten
out that damn company, but again, that’s a story for another day. So, just by the nature of Bitcoin and cryptocurrency
itself, it’s encrypted, it’s safe it’s also really good for high ticket items if
you’re selling things like theater services. It’s a great way just to guarantee payments
and just help you sleep better at night. Anyway guys, those are just a couple of the
benefits. We’re going to hop onto my computer right
now and I’m going to show you guys how to set this up and I’ll see you guys over there. [Voiceover: Brock Pierce] The internet is going to reach it’s full
potential which I think is going to be 10 times greater. Every industry in the world is going to be
affected and it’s going to be a beautiful thing. This is the new internet. It’s the upgrade. Alright guys so here we are in the backend
of one of our Shopify stores. This is the one that we want to enable crypto
payments on. So first, if you’re on your dashboard you
want to navigate down to the bottom left and click on settings and from there you want
to click on payment providers. And from this page you’ll be able to see
all your standard payment options such as Shopify payments which is essentially stripe
it’s one of the bigger credit card processing companies. The Shopify payments version of it is just
a little more tailor-made for accepting payments through Shopify. There’s a few more limitations, but it’s
a lot more convenient as well. Which by the way, as a quick sidetone before
we move on. If you guys ever did have problems with Shopify
payments, let’s say maybe the product your selling isn’t accepted by them or something
like that. If you click on edit right here you can look
at your different settings for that, but you can also go to charge provider and you’re
going to have access to a ton of different credit card processing companies here. So if you guys want to try another one like
2Checkout is a great one, I’ve used them before, umm, Skrill is great for some more
like high risk items, but there’s a lot o other options in here if you had trouble
with Shopify payments. On that note let’s move on and let’s start
accepting crypto. So I’ll close out of this and we’re going
to scroll down. As I mentioned before we do have PayPal disabled. You’re just asking for a world of trouble
in my opinion, but that’s for another video. Amazon payments is another great one to have
enabled, but what we’re looking for is the alternative payments section. Now if we go down here you’re going to see
that we have access to all these different 3rd party payment gateways. The main ones we’re going to be looking
at here are Coinbase Commerce, which is just a different devision of Coinbase it’s like
their merchant account system. We have BitPay which we’re also going to
be taking a look at and we also have GoCoin. The first one we’re going to be setting
up is Coinbase Commerce so we’re going to click on that and if we go down here you can
see that once we’ve enabled this, we’ve created our account and put in our credentials
right here we’re going to be able to accept Ethereum (ETC), Bitcoin (BTC), Litecoin (LTC)
and of course Bitcoin Cash (BCH) just like if these were credit card options. As you can see they’re very similar icons
we saw just above. Now, let’s go ahead we’re going to hop
over to Coinbase Commerce, set up our account and then plug in our details right here. So here we are on their website. You guys can just go ahead and Google Coinbase
Commerce or the link will be down in the description. There’s no affiliate link or anything like
that. And we’re just going to click on get started
and we ‘ll begin setting up our account. So I’m going to use my secondary email right
here and we’ll create a password. We’ll click I agree to terms of service. As usual I’m going to hold it to you guys
to read every damn word of their terms of service as most people do of course. And I’m going to click on sign up. We just need to verify our email so I’m
just going to do that rally quick and I will be right back. We’re going to click on continue to dashboard
and the first thing you want to do from here is click on secure access to your account
and what you need to do if you don’t have it already is you need to download the Google
authenticator app. You’re going to download that, open it up,
scan this QR code and it’s going to give you a verification to login. You’re also going to use the same method
every time you login to your Coinbase Commerce account. Two factor authentication is normally associated
with SMS. Like, you’ll sign into something they’ll
say check the text that we sent you with a 4-digit code or whatever. SMS unfortunately like a lot of other things
is actually very insecure. If you ever have the option to choose between
verifying with SMS for two factor authentication or using an authenticator app like Google’s,
always go with the later. So I’m going to do that really quick here
on my end. I’m going to scan the barcode and it’s
giving me the code to login. So the code is going to be 692785. Unless you’re making a tutorial video like
this, I hope you’re not sharing that password with anyone. That kind of defeats the whole point. I’ll click on confirm. And here we are inside of our main dashboard. Now once you’ve done that it’s also going
to ask you for your basic information like your billing address, some other information
about your accounts, where they should deposit funds to… So just go ahead, fill that out and it’s
going to bring you to your standard dashboard like this. Now to connect this account to your Shopify
store all you have to do is go down to where you have your API keys, we’re going to click
on reveal, I’m going to click on copy, we’ll navigate back to Shopify and the first thing
we want to do is we want to insert our email address that we signed up to our account with
right here. And we’re just going to paste our API key
in here. I’m going to click on save and that’s
it you’re good to go. So now people have the option of paying with
Bitcoin, Ethereum, Bitcoin Cash and Litecoin is also included in there as well. And that’s all going to go directly into
your Coinbase account. I know a lot of you you’re especially starting
out with crypto you probably have a Coinbase account already so it’s going to be pretty
convenient. Now the next one I want to look at is BitPay. A lot of people prefer BitPay over Coinbase
because they do have some privacy and security concerns. Personally if you want to know what I use,
I do use Coinbase Commerce. I’m totally fine with that. I sleep just fine at night. But If you want to use BitPay I’m going
to show you how to set that up right now. So I’m going to go back in here and I’m
going to disable Coinbase Commerce. I’ll click on edit and deactivate. And once that loads back up we’re going
to go back to select additional payment method and we’re going to choose BitPay. So, very similar process. BitPay does only accept Bitcoin so you’re
not going to be able to accept Ethereum or Bitcoin Cash or anything like that yet. I’m just adducing they’re going to expand
into those down the road, but right now it’s only going to let your customers pay with
Bitcoin. So to setup our account with that, I’m going
to head on over to the BitPay website and I’m going to click on Start Now and what
we want to do is select a business account. We’ll click on that and we’ll go to sign
up and just like before we’re going to enter our basic info. We’ll go and create a password. We’ll click on agree I am not a robot. At least the last time I checked I wasn’t. And we’ll click on create account. And just like before go into your email and
verify your account really quick. I’m going to do that and I’ll be right
back. I’m going to log back in. And once you’ve done that the next thing
you need to do is verify the rest of your information so just like Coinbase Commerce
you’re going to fill out the rest of the information about your business, where to
deposit funds and all that stuff. So we’ll click on Get Verified. I’m going to fill all this out and be right
back. And there we go and once you’ve done that
all you ned to do is tell them where to send your Bitcoin payments to. Now you can have BitPay automatically convert
your Bitcoin into US dollars (USD) and put it into a bank account or you can just enter
your Bitcoin wallet address which I’m going to do right here. So I’ll click on add bank account, add Bitcoin
address, we’re going to enter the name so that’s just going to be y personal account. I’m going to paste that in here and there
we go. So once you’ve verified your account and
entered all your info you want to click on start accepting Bitcoin. Now to integrate your BitPay account with
Shopify you want to click on Payment tools here on the left-hand side, you’re going
to scroll down and you want to create a new legacy API Key so I’m going to click on
that. We’re going to go to add new API key. We’re going to click on edit and you can
go ahead and name this in case you want to use BitPay on multiple different websites
or different tools or you’re accepting it in different ways. So I’m just going to label mine Shopify
for right now. Confirm and save and we’re going to copy
our API key right here and just like before we’ll navigate back to Shopify and we’ll
paste it right here. Now once you’ve done that we’ll click
on save and you’re all set! Alright guys to that’s how you can go ahead
and start accepting Bitcoin and other crypto currencies in your Shopify stores. If you guys liked this video please click
the subscribe button down below. You guys have really enjoyed the last couple
of videos and I plan on doing a lot more of these now this Summer. Also, if you like this video and you got something
out of it click the like button down below. Also if you guys want links to all the tools
and the websites that we used in the video they’re going to be down below in the description
as well as a writer guide step-by-step how to do it if you don’t want to watch the
video over again. So I’m glad you guys got something out of
this video. My name is Matthew Sabia and I’ll see you
guys next time.

45 thoughts on “How To Accept Bitcoin on Shopify”

  1. 💡 What are your thoughts on Blockchain and cryptocurrency? And what do you think the main benefit of accepting crypto on Shopify is? Let me know here in the comment section!

  2. Yo bro I would love to collab with you, you seem like a cool guy and I know we can learn a lot from each other🔥I MADE 119K🔥 last month with Shopify

  3. If you make Shopify starter sites to flip (Starter Site Toolkit)…can you just be a Shopify Partner instead of having the monthly membership?

  4. wow, really good and useful information in this video. really appreciate it. thanks for the great video.

  5. Hi there, I was trying to open a shopify store two days ago. To see if finally I could grow financially and pursuit my dreams. I don't know how to get everything done and sell products. Your videos are amazing. Can you please help me?

  6. Hello Justin , i wanna ask you important question , i am from turkey so stripe does not support here , i have a payoneer account i but today i talked with one company in usa , they arrange all stripe and payoneer transactions and they arrange all taxes from sales but they want %25 percent of my revenue , do you think is it smart to cooperate with them? other wise i think i need to open company in usa for taxes , because people says stripe blocked the stores which doesn't have esn number , thank you!

  7. Thanks for the nice walkthrough Matt, I just setup #Coinbase payments on our online apparel store using this guide – check us out here at http://www.firelake.co.uk and use code TWENTY for 20% off 🙂

  8. Hi, everyone! Is someone here who can advice my a good cryptopayment solution for Shopify web page? I want to implement cryptopayment service in my onlinestore. I will really appreciate your help)

  9. Wonderful info! Don’t you just lose a lot of sales by disabling the PayPal payment method? Or there’s a way of receiving the PayPal money but not through paypal? I am just asking if anyone knows that can let me know

  10. Two weeks ago i watched your first video, till today I made $222.33 ofc I'm down $40 but i learned alot :D. Thank you

  11. What is this Aliexpress need verification for my payments? have 2 orders i need to buy and dropship. Why dont they just take bitcoin

  12. Hi
    I want to know how you ship with oberlo ..

    How oberlo work ?
    Plz, give us complete guide to using oberlo

    Thanx

  13. Hey Matt, I sell stuff like kratom, pine pollen and other "high Risk" products. Paypal and stripe have both shut me down within a week on my shopify store. If I accept bitcoin will I still get shut down? Any chance that shopify will shut me down? Just wondering.

    Matt

  14. Hey, awesome video btw! Must feel good to have a 455:1 like ratio haha. If you read this and have time I would like to know if the problems you had with Paypal were due to long shipping times or extremely overpriced dropshipped products? (No offense if that's what you were doing I just want to find out if Paypal would still be viable if the products I'm selling are very cheap with low margins and fast shipping do you think a store like that would have many problems with Paypal?) Thanks!!

  15. oh this was extremely helpful. I have been with shopify for 3 years and never thought to accept bit coins but now that you showed me, I will!!!

  16. Been going through these for an hour. My new year's resolution. Yours is the best. Do one more of these, not through shopify. I would be sending clients an email link. Can you suggest the best way to do that please?

  17. The last 3 months, I have made over $60,000 from trading bitcoin but my success never started that way as I had made substantial losses before my turning point in the Crypto space. I bought 2Btc last year which quickly rose in the bull run but eventually lost Most of it and sold off what was left. That was the last I would ever have to do with bitcoins until I was introduced to Darren Allan first of, he asked to know my trade experience. He then gave me a quick insight on what to Look out for when choosing a platform and a bunch of other things most experienced traders may never tell you. Most importantly, he introduced me to his specially designed layout and provided me with professional advice and accurate trade signals. With his system,Trading has become easy and profitable and I just want to spread the word and thus help as many that are in my previous unfortunate situation. For all questions, you can reach out for his help on ( [email protected] .com )

  18. how to you file your taxes using crypto payments? is there a monthly fee for a coinbase or bitpay business account? does shopify create an invoice for the payments?

  19. Matt my man. I just installed the coinbase to shopify but My question is. the payment will stay as a bitcoin or they will exchange to USD??

  20. Hi! brilliant video, short and clear. I want to find out if i can use bitpay or coinbase if my bussiness is not registerd yet? as im just starting from scratch, not even sure if its gone work, will give it a try thouhg

  21. P.s. im trying to understand the process. through bitpay payments in crypto travel straight to my personal crypto wallet, but where does it go if im on coinbasecommerce? To an online platform and then i should be able to move crypto into my personal wallet? Or do i have to withdraw in fiat through exchange or bank?

  22. Hey Matt, thank you for this video. Can I use one Bitpay or Coinbase account to accept payment for multiple shopify stores or I will have to create a seperate accounts for each shopify stores as they are asking for business verification.

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