By now, you have probably heard by about crytocurrency, the digital or visual currency that uses cryptography for security. You may even be into it yourself. One thing for sure, it’s growing and it isn’t going anywhere soon. With this growth in users, more and more online stores will be considering accepting cryptocurrency as legal tender. If you choose to go this route, obviously, you want the process to go as smoothly as possible. If you are using WooCommerce or Easy Digital Downloads, the WordPress plugin MyCryptoCheckout may be just what you are looking for.
What is the benefit of the MyCryptoCheckout WordPress plugin?
Before I dive into the settings, I’d like some of the features this plugin offers.
Besides integrating into the two most popular eCommerce plugins, this plugin will support these Cryptocurrencies: Bitcoin BTC, Bitcoin Cash BCH, Dash DASH, Ethereum ETH and Litecoin LTC. And these ERC20 Tokens: Basic Attention Token BAT, Bancor BNT, Digix Global DGD, EOS, FunFair FUN, Golem GNT, Icon ICX, Kyber Network Crystal KNC, Maker MKR, Omisego OMG, Populous PPT, QASH, QTUM, Augur REP, STAKE, Status Network SNT, Tronix TRX and 0xProject ZRX. Plus you can add your own custom ERC20 tokens.
What’s unique is that they don’t touch the payment coins and you are not hit with transaction fees.
It also gives you real-time exchange rates and conversion, which in the crypto space, is an essential. And in addition to no transaction fees, it’s a flat-rate license, so no surprises there. Your customers need not worry about being redirected to a third-party or you collecting sensitive information from them. And yes, it works with multi-sites if needed.
Also, the seller will be able to choose any wallet they want, if it’s an online service, a wallet app on their smartphone or a desktop wallet. What’s cool here is that compared to other cryptocurrency payment gateways, the coins go directly from buyer to seller. Of course, an online wallet if the seller so chooses.
MyCryptoCheckout Plugin Settings
First we will look at the plugin settings. These settings are the same if you are using WooCommerce or Easy Digital Downloads.
First you will see data account. Obviously some stuff is showing as I have no currencies set.
Here is where you set all the currencies you accept. Obviously, if you are using any of these currencies, you will know the address of your wallets. If not, they do have some good documentation on their site to help you.
And here is the menu of the currencies:
Next, a couple of settings for your gateway fees and some debugging options as well.
MyCryptoCheckout Plugin for WooCommerce
In your WooCommerce settings, the MyCryptoCheckout will appear under your Checkout tab. There are several straightforward options here and if you need to understand more details of any of them, again, you will find good documentation on their site.
Once I have currencies set on the checkout page, I get these options:
MyCryptoCheckout Plugin for Easy Digital Downloads
The specific settings for EDD will be found under your Payment Gateways tab. Again, some pretty standard options here.
And here’s why it looks like on the EDD checkout.
Now in both cases, whether you use Easy Digital Downloads or WooCommerce, the seller has nothing they need to do after the order is placed. The order will be marked as paid automatically. As a seller, all you have to do is open up their wallet (wherever that wallet is) and transfer that specific amount to the specific address. It’s that easy.
The plugin will detect the transaction once it has gone through and either WooCommerce or EDD will be informed of a successful transaction.
So if you are looking to add this payment option to your WooCommerce or Easy Digital Downloads store, this one is pretty slick.
The obvious takeaways that make it an advantage of using this plugin is the 0% transaction fees, the ability to use any of the wallets, and from many who are already using it, the great customer support.