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2018 is here, do you plan to accept Bitcoin and other cryptocurrencies?

2018 is here, do you plan to accept Bitcoin and other cryptocurrencies?

Hello Merchants, 2018 is here and one thing that really caught a lot of attention in 2017 are Bitcoins. We at Blockonomics help merchants accept Bitcoins all across the world and have recently launched an extension for Magento 2.0.

 

I wish to better understand how the Magento community perceives Bitcoins, what your plans are in regards to accepting Bitcoin payments, what your reservations are wrt to BTC payments etc.,

 

Feel free to post your views, any questions you may have etc.,. I am looking forward to interacting with you awesome people and exchange some knowledge!

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Re: 2018 is here, do you plan to accept Bitcoin and other cryptocurrencies?

The adoption of bitcoin acceptance by the Magento community and merchants will largely be determined by the growth of bitcoin as a whole.

 

I don't think anyone in the magento community would be apposed to adding bitcoin as a payment option to their site, as long as its actually needed.

 

Furthermore, the ease of use will be a huge factor. With the likes of apple pay and other payment methods making it very easy to checkout with ease and speed, the same would go for paying in bitcoin. If its cumbersome to pay in bitcoin (find wallet address, copy paste, figure out the exact decimal to send, transaction fees ect) No one will want to use it.

 

Once customers want to regularly pay in bitcoin rather than some other form of payment on a regular basis/scale, I don't see whole ton of value in implementing it for a store.

 

What sort of data do you guys have? How much volume of online purchases through eCommerce stores are currently being paid in BTC?