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Cryptocurrency

Cryptocurrencies are a form of digital or virtual currency that can be transferred directly from person to person over the internet. Cryptocurrencies provide the following advantages to merchants:

  • Fast transactions.
  • Low processing fees.
  • No chargebacks.
  • Local and international transactions.
  • Payment conversion to any fiat currencies, such as USD or CAD.

Cryptocurrencies are more volatile than traditional currencies. Consult with your accountant about the best way to handle cryptocurrency payments.

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Considerations for accepting cryptocurrencies

Before accepting cryptocurrencies in your online store, review the following considerations:

  • You need to verify that cryptocurrencies are acceptable as a form of payment in your region before accepting them.
  • You might still be charged third-party transaction fees for payments processed through third-party payment gateways. Refer to your store's Shopify plan for the amount of fees charged.
  • Due to longer settlement times, cryptocurrency transactions can cause overselling in flash sales. Use a direct payment method like Shopify Payments for the best flash sale performance.
  • There are no automatic refunds for cryptocurrency payments through Shopify. You need to refund payments manually through your payment gateway.

Search which cryptocurrencies and providers are supported in the Shopify checkout

You can search for which cryptocurrencies are supported in the Shopify checkout by navigating to the Add payment method page in the Payments settings page of your Shopify admin. Selecting cryptocurrencies in the search displays a list of the payment providers that support transactions using all of the cryptocurrencies that you selected.

Steps:

  1. From your Shopify admin, go to Settings > Payments.

  2. In the Additional payment methods section, click Add payment methods.

  3. In the Search by payment method tab, use the search bar to search for cryptocurrency as a keyword.

  4. In the search results, click the cryptocurrencies that you're interested in accepting. A list of payment providers display that offer all of the cryptocurrency options that you selected.

Accepting cryptocurrencies in your Shopify checkout

To accept cryptocurrencies, activate one or more of the following additional payment methods from the Payments page in the Settings section of your Shopify admin:

  • Solana Pay supports transactions in United States Dollar Coin (USDC) among other currencies, and enhances customer engagement through built-in loyalty features such as non-fungible token (NFT) gating and discounts. With Solana Pay, transactions are settled in less than a second at minimal cost. For help, refer to these setup instructions.
  • Crypto.com accepts over 20 cryptocurrencies including Bitcoin, Ethereum, and Dogecoin. For additional help, refer to these setup instructions.
  • BitPay accepts 14 cryptocurrencies including Bitcoin, Bitcoin Lightning, Ethereum, and Dogecoin settled in USD. For additional help, refer to these setup instructions.
  • DePay accepts tokens that have liquidity on decentralized exchanges for various blockchains, such as Solana, Ethereum, Polygon, and Base. DePay is a peer-to-peer payment gateway that uses smart contracts for on-the-fly conversion. For additional help, refer to these setup instructions.
  • OpenNode accepts Bitcoin and Bitcoin Lightning settled in Bitcoin or fiat. For additional help, refer to these setup instructions.
  • Strike accepts Bitcoin Lightning settled in USD. For additional help, refer to Strike's setup instructions.
  • Lunu accepts Bitcoin, Ethereum, USDT, USDC, BNB, XRP, and TRX settled in USD, EUR, GBP, or over 70 other fiat currencies. Lunu is is located in Europe. For additional help, refer to these setup instructions.
  • Bit2Me Commerce accepts a variety of cryptocurrencies including Bitcoin, Ethereum, Tether, and more. Bit2Me is located in Spain and allows for instant conversion to fiat. For additional help, refer to these setup instructions.
  • IBEX Pay accepts Bitcoin Lightning with offices in the USA, Mexico, El Salvador and Guatemala and settles the next day in fiat. For additional help, refer to these setup instructions.

After you activate a payment method that supports cryptocurrencies, you can accept any cryptocurrency that's supported by their service.

Activating an additional gateway doesn't impact your existing gateways. If you have issues with registration or payments for a cryptocurrency gateway, then you can contact the support channel for that cryptocurrency gateway.