You would probably have to be living on Mars to have not heard the constant talk about BitCoin and the meteoric rise of its price over the past 12 months. And you may be thinking how does it work and how can I benefit from BitCoin and other so called Crypto currencies.
BitCoin was launched back in 2009 and is the biggest of the new Crypto Currencies that offer an alternative global currency and payment system that operates outside of the banking system. Bitcoin is being tipped by many as the future of payments, and a replacement for conventional currencies and payment methods especially for the digital world and e-commerce.
So the questions remains, how can I buy BitCoin and more importantly how do I use it?
BitCoins can easily be purchased directly from other owners of BitCoin or via one of the many online BitCoin exchanges. Coins are then held in a secure virtual wallet that can then be used for spending at supported merchants or for saving for a rainy day or at least until the ‘robots have taken over’
Shopify and BitCoins
For forward thinking Shopify e-commerce merchants it is now possible to jump on the Bitcoin bandwagon and setup your store to allow payments via Bitcoins. Shopify has partnered with leading Bitcoin payment processor Bitpay that now allows for a seamless integration into your Shopify store to allow merchants to start accepting the future of currencies and payment processing. Installing Bitpay is a seamless process, which can be switched on by the flick of a switch, assuming merchants have signed up for a Bitpay account first.
For more information about payment processing options within Shopify and for more information about Bitpay please contact our Shopify experts.