Should My Website Accept Bitcoins?

If you own a website that accepts money, you should be asking yourself this question.

To me, this is like asking if you should accept Yen, Euros, or Pesos.  The fact is, you probably already accept these other forms of currency and don’t even realize it.  Payment processors like PayPal or other gateways handle those exchanges for you.  You tell the processor you want $100 for some goods, the customer pays (currently 10172.00) Yen, and you do not know the difference.

Same thing happens with bitcoin.  Through a payment processor like Coinbase, you can easily accept bitcoin payments and immediately turn them into US Dollars.  The processing fees are so much lower as well, roughly 1%.  Compare that to the 3% that credit card processors charge.

Not to mention, the chance of chargebacks are absolutely zero.  Because bitcoin is a push payment, the customer has to choose to send you bitcoin.  You can’t take what you want, like you do with credit cards.

So the answer to “Should my website accept bitcoins?” is absolutely yes.

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