Bitcoin Integration ₿
Content: - What is Bitcoin? - Why to implement Bitcoin payments in my classifieds website? - How to use Bitcoin with Yclas - Bitcoin wallet address on ads and user profiles - Bitcoin currency - Setup a payment gateway for Bitcoin
What is Bitcoin?
According to Investopedia, _Bitcoin is a decentralized, peer-to-peer, “cryptocurrency” system designed to allow online users to process transactions through digital units of exchange called Bitcoins.
It is the first and most popular cryptocurrency. Although there are a lot of other cryptocurrencies, Bitcoin receives the most media coverage and it spreads like wildfire on social media.
Why to implement Bitcoin payments in my classifieds website?
First of all, bitcoin payments have low to no fees, can be transferred from one side of the globe to the other without limits or delays.
Bitcoin offers protection from payment frauds. Credit card and wire transfers require identity verification, which is a risk of compromising customer data. Bitcoin payments do not require the verification of customer identities and it doesn’t involve being responsible for customer information.
Chargebacks, where consumers go through their bank or credit card provider to force a refund, can be very costly to businesses. A 1% chargeback rate is the standard maximum, if your chargeback to transaction ratio is really high, credit card companies will take serious actions against you because you’re distinguished as a risky merchant. However, with Bitcoin, once the transaction has been sent and confirmed by the network, the BTC sent is owned and in fully control of the receiver.
Big companies such as Microsoft, PayPal, Expedia, Reddit, Steam and many others accept Bitcoin as a payment. Also, accepting bitcoin payments through your classifieds website will attract a market of new customers who are looking for places to spend their bitcoins.
How to use Bitcoin with Yclas
Bitcoin wallet address on ads and user profiles
Giving your customers the ability to share their Bitcoin Wallet Address in their ads and users' profile will be an advantage. You have two possibilities, letting your customers enter their Bitcoin address in their profile information or only on specific ads.
Follow this guide to find more information about sharing customers bitcoin wallet address in your classifieds website.
Set Bitcoin (BTC) as the main currency of your site. We made this option available so users can list their items or pay for your website services in BTC:
- Login to your Yclas Dashboard.
- Go to Settings -> General -> Regional.
- In the Money format field, select Bitcoin.
- Click Save.
Setup a payment gateway for Bitcoin
With Yclas, you can use Bitpay as the payment gateway in your website and accept Bitcoin
Create an account here and enter your Bitpay api key on Settings -> Payment -> Bitpay -> Bitpay api key after you finish your registration.
If you still need more information about using Bitcoin in your Yclas website, feel free to contact a support agent by using our ticket system.