Elegro Crypto Payment – Over the last few years, Bitcoin has experienced increasing popularity. Although it is sometimes associated with scammers and is seen as currency for transactions that are untrustworthy and dishonorable, there are also many people who enjoy the idea of anonymity it carries when shopping online.
Whether you personally agree with the idea behind Bitcoin or not, when you consider that the user base has grown tremendously in the last five years as well as the fact that online shopping continues to increase, it makes sense to consider allowing Bitcoin payments on your site.
Luckily, WordPress doesn’t fail when it comes to Bitcoin integration with your WordPress website. In this post, I’ll look at the history of Bitcoin, its benefits, and discuss plugins that will help you accept Bitcoin payments.
A Brief History of BitCoin
Bitcoin was created in 2009 by Satoshi Nakamoto. However, it is worth mentioning that the real identity of the Bitcoin creator is unknown and the above name is his pseudonym.
Bitcoin is created through a process called bitcoin mining where computers in a P2P network complete certain mathematical tasks. There are limits imposed on the total number of bitcoins that can be created. The math task becomes more and more difficult as more and more bitcoins are created. Current estimates project that the number of possible bitcoins is limited to 21 million whereas current exchange rates suggest that one bitcoin is worth $ 3,645.
Benefits of BitCoin
Despite the negative associations, Bitcoin is a viable payment method. While it is definitely not a mainstream currency, Bitcoin comes with several benefits that make it an attractive choice for consumers and online merchants alike.
Here are some of the main benefits that make Bitcoin such an attractive choice:
- Digital – Bitcoin is a digital currency or digital currency that does not require a third party banking entity to process transactions. It is fully peer-to-peer and organized with the help of blockchain. In essence, blockchain is a type of book that keeps a safe and somewhat anonymous record of all transactions.
- Secure – unlike regular currency and purchases made with credit cards, payments made with Bitcoin do not require personal information such as names, credit card numbers, addresses and similar information. Bitcoin needs to be linked with one person, however, no sensitive information is revealed during the transaction. This is a huge benefit for anyone who cares about their privacy and enters sensitive details during the online checkout process.
- Easy to use – Bitcoin is stored in a digital bitcoin wallet which can be used on any site that accepts bitcoin. From a consumer’s perspective, they don’t have to worry about whether your store accepts their credit cards or not. From a business owner’s perspective, you no longer need to fear losing customers because you don’t accept all existing credit cards.
- Lower fees – in most cases Bitcoin transactions involve much lower processing fees and in some cases, no fees to get started.
- Instant availability – unlike credit card or bank to bank transfer, Bitcoin funds are available as soon as a transaction is complete.
- Lower risk of fraud – every bitcoin comes with a hexadecimal code that is difficult to hack. That means transactions or wallets cannot be hacked easily. It is also worth mentioning that transactions are not reversible which reduces the chances of fraudulent payments.
However, there are a few drawbacks to Bitcoin and cryptocurrency in general.
- Irrevocable transactions – as mentioned above, all Bitcoin transactions are final, making it nearly impossible to issue a refund. If your business really relies on customer satisfaction and refunds are a must, then Bitcoin may not be worth the hassle.
- There is no central governing body – Bitcoin is not regulated by any bank or financial institution for that matter. In essence, this means that Bitcoin’s value depends entirely on the user.
- Fluctuating exchange rates – finally, keep in mind that due to currency decentralization, Bitcoin’s value fluctuates constantly.
The main advantage of this is that you should not change the payment method you currently accept and switch to Bitcoin exclusively. Instead, integrate Bitcoin with existing options and offer your customers additional ways to pay for your goods and services.
What You Need to Receive BitCoin or Crypto Payments
Before getting into the discussion of plugins, it’s worth mentioning that you will need a Bitcoin wallet to start accepting Bitcoin. Think of a Bitcoin wallet like a digital bank account. When a transaction occurs, the Bitcoin received is placed into the wallet and then converted into the regular currency if you decide to do so.
Conversion is one of the biggest advantages of a Bitcoin wallet. There are several Bitcoin wallet providers and most of them offer the ability to convert digital currency into your local currency. You can also use your Bitcoin wallet to send Bitcoin to others as well as make your own online purchases.
And here I will introduce to you the best solution for accepting payments with bitcoin or other Crypto currencies namely Elegro Payment Crypto Gateway.
What is Elegro Crypto Payment?
Elegro Crypto Payment provides a range of payment solutions for merchants: e-commerce, retail and wholesalers that allow acceptance of fiat or crypto payments, currency exchange, and secure, fast and instant deposit of funds with automatic exchange to EURO / USD or fiat currency others with live exchange rates that only pay a 0.9% processing fee and are directly integrated with the elegro crypto wallet. Elegro provides an opportunity to grow your business on a global scale by removing all the hassle associated with payments.
Advantages of Using Elegro
- One click payment
- Crypto payments with instant exchange into fiat at live currency rates
- Only 0.9% processing fee for payments
- No personal information is shared
- 24/7 live technical support
- Zero volatility guarantee
- Free EU IBAN if needed
- Free merchant branded wallet
- Various cryptocurrencies are supported
- High level of security over secure SSL endpoints
- Simple and straightforward checkout solution
- Can be accessed with any device, anywhere and anytime
- Biometric Services for verification and identification
- Smooth and fast integration
- The withdrawal process is very fast, without delays, with no restrictions on countries and amounts of funds, because you are given a personal IBAN account where all your funds will be accumulated, you can also make fiat currency withdrawals using the most popular electronic payment services such as: skrill, webmoney, qiwi , etc.
Elegro Crypto Payment has all solutions related to payments and transactions using Crypto currencies. Besides that, elegro also has many products such as the following:
Money management in more than 50 countries. Transfer Business to Business (B2B) and Customer to Business (C2B). Instant currency exchange with large exchange rates, purchase of cryptocurrencies, fast and smooth funds transfers at low fees.
Free crypto payment gateway integration gives you the opportunity to receive cryptocurrency on the website automatically and receive payments in EUR, USD, GBP or other local currency to a local business or bank account (Bank Indonesia) yours.
The Elegro wallet called Elegro Personal allows you to buy, store, exchange and withdraw crypto and fiat currencies securely and make instant transactions within the Elegro ecosystem. The Web and App versions provide easy and convenient use of the wallet from a computer, mobile phone or other device.
The Elegro exchange service makes it possible to buy and sell all major fiat and crypto currencies at live currency exchange rates. The range of supported currencies continues to expand. Enjoy instant and secure exchange for a low fee with Elegro Exchange.
Elegro Retail is a payment solution for retail businesses that allows to pay with crypto coins using the phone as PoS. Merchants get money in local currency which they can withdraw to their bank account. Bitcoin wallet branded for instant payments provided.
Then how do you accept payments using Crypto currencies on your website?
Elegro always provides a solution for you, as an online merchant you can easily accept cryptocurrency digital currency payments because Elegro has a special API to handle all of that.
If you are a WordPress user and build your online store on top of WooCommerce, then Elegro you can easily integrate because Elegro already provides a special plugin to accept payments in one click, your customers can quickly complete and easily make purchases on any device. Apart from that, Elegro also provides special plugins for other platforms such as Shopify and OpenCart, for platforms like Magento, Yokart and BigCommerce will soon follow.
For WordPress users, you can download the Elegro Crypto Payment plugin directly through the official plugin library at WordPress.org.
After you install the plugin in online shop website You, Elegro Payment will automatically be added to the WooCommerce payment settings, you only need to activate it.
Next, you can configure it by entering the Public API Key and the Private API Key which you can get in your Elegro account. And now you can accept payments using Crypto currencies that are easy, safe and fast. And all your funds will be deposited in “Elegro Personal” which you can withdraw anytime and to your local bank account.
And that’s my review of Elegro Payment Crypto Gateway which I can share with you as a digital cryptocurrency payment solution directly on your online store website. Hopefully this article was useful for you and good luck. 🙂