Cryptocurrencies are a form of digital or virtual currency that can be transferred directly from person to person over the internet. Cryptocurrencies provide the following advantages to merchants:
- Fast transactions
- Low processing fees
- No chargebacks
- Local and international transactions
- Payment conversion to any fiat currencies such as USD or CAD.
Cryptocurrencies are more volatile than traditional currencies. Consult with your accountant about the best way to handle cryptocurrency payments.
To accept cryptocurrencies, enable one or more of the following additional payment methods from the Payments page in the Settings section of your Shopify admin:
Coinbase Commerce accepts a variety of cryptocurrencies including Bitcoin, Ethereum, Dogecoin, and more. Coinbase also allows for easy conversion to fiat. For additional help, refer to these setup instructions.
DePay accepts Ethereum, Binance Smart Chain, or Polygon tokens that have liquidity on decentralized exchanges. DePay is a peer-to-peer payment gateway that uses smart contracts for on-the-fly conversion. For additional help, refer to these setup instructions.
After you enable a payment method that supports cryptocurrencies, you can accept any cryptocurrency that is supported by their service.
You might still be charged third-party transaction fees for payments processed through these gateways. Refer to your store's Shopify plan for the amount of fees charged.
Enabling an additional gateway doesn't impact your existing gateways. If you have issues with registration or payments for a cryptocurrency gateway, then you can contact the support channel for that cryptocurrency gateway.
Due to longer settlement times, cryptocurrency transactions can cause overselling in flash sales. Use a direct payment method like Shopify Payments for the best flash sale performance.
There are no automatic refunds for cryptocurrency payments through Shopify. You need to refund payments manually through your payment gateway.