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How to Accept Cryptocurrency Payments with Magento 2
Magento 2 Plugin To Accept Bitcoin & Other Cryptocurrencies
Best Crypto Payment Gateway for Magento 2
There are many reasons why businesses choose XAIGATE as their cryptocurrency payment gateway on Magento 2. Here are just a few:
– To increase sales: Accepting cryptocurrency payments can help businesses increase sales by attracting new customers and making it easier for existing customers to pay for goods and services.
– To reduce costs: Cryptocurrency payments are processed much faster than traditional payments, which can save businesses money on processing fees.
– To expand their global reach: Magento 2 Cryptocurrency payments can be accepted from customers all over the world, which can help businesses expand their global reach and reach new customers.
– To protect their business from fraud: XAIGATE uses advanced security measures to protect businesses from fraud and theft.
User Guide for Magento 2 Bitcoin and Crypto Payments
- For the Integration process with XAIGATE, users must require to have Magento 2.4.4
- If you don’t have an account on XAIGATE, then make sure to sign up.
Accept Crypto with Magento 2 Payment Gateway
Installation of magento 2 crypto payment gateway plugin
Create a folder structure in Magento root as app/code/Xaigate/PaymentGateway.
Download and extract the zip folder from the Magento Marketplace and upload the extension files to app/code/Xaigate/PaymentGateway.
Login to your SSH and run below commands:
php bin/magento setup:upgrade
// For Magento version 2.0.x to 2.1.x
php bin/magento setup:static-content:deploy
// For Magento version 2.2.x & above
php bin/magento setup:static-content:deploy –f
php bin/magento cache:flush
rm -rf var/cache var/generation var/di var/page_cache generated/*
Configuration of Cryptocurrency Payment Gateway Plugin on Magento 2
System Settings->Sales->Payment methods->XaiGate
- Enable: To enable the payment method.
- APIKey: You’ll need to obtain an API Key from your XAIGATE project settings. Access the Credential page of your XAIGATE dashboard to retrieve your API Key: https://wallet.xaigate.com/merchant/credential
- Shop name: Enter your shop name.
- Title: The title written by you will appear on the checkout page.
- Order Status Completed: The status of the order in your store after successful payment.
- Pending Status: The status of the order in your store after pending payment.
- Failed Status: The status of the order in your store after failed payment.
- That’s all, save the setting.
How to Accept and Manage Cryptocurrency Payments in Magento Store
The world of finance is evolving, and your Magento store can keep pace! Embrace the future of payments by integrating a Bitcoin plugin, allowing you to accept Bitcoin and potentially other cryptocurrencies directly on your platform. This opens doors to a tech-savvy customer base who prefers the speed, security, and convenience of crypto payments.
Simple Setup, Big Benefits:
Adding a Bitcoin plugin is a breeze. Here’s what you get:
- Streamlined Checkout: Customers can pay directly with their preferred crypto wallet, eliminating the need for traditional cards or bank transfers.
- Expanded Customer Reach: Attract a new audience of crypto enthusiasts who are comfortable with digital payments.
- Enhanced Security: Crypto transactions are known for their robust security protocols, offering peace of mind for both you and your customers.
Magento Payment Plugin for Cryptocurrency Payments
1. Choose a Crypto Payment Gateway:
Magento itself doesn’t directly process crypto payments. You’ll need a third-party crypto payment gateway that acts as an intermediary between your store and the cryptocurrency network. XAIGATE is best crypto payment gateway on Magento 2. These gateways offer plugins specifically designed for Magento.
2. Install the Payment Gateway Plugin:
Once you’ve chosen a gateway, locate their corresponding plugin for Magento 2 in the Magento 2 marketplace. Download the plugin and upload it to your Magento admin panel. The installation process might vary slightly depending on the specific plugin, but it usually involves selecting the file type and clicking install.
3. Configure the Plugin Settings:
After installation, head to the plugin’s settings page in your Magento admin. Here you’ll typically configure details like:
- API Key: Provided by your chosen crypto payment gateway.
- Payment Method Name: How the crypto payment option will appear at checkout (e.g., Bitcoin Payments).
- Invoice Lifetime: How long an invoice generated for the crypto purchase remains valid.
- Order Statuses: Define which order statuses correspond to successful crypto payments.
4. Enable and Save:
Once you’ve filled in the necessary details, enable the plugin and save the configuration. This makes the crypto payment option available to your customers during checkout.
How to Accept Cryptocurrency Payments with Magento 2
1. Choose a Crypto Payment Gateway
- Research and compare: Look at factors like supported currencies, transaction fees, ease of use, security features, and conversion to fiat options.
- Sign Up: Create an account with your chosen payment gateway and obtain the necessary API credentials (key and secret).
2. Install the Plugin
- Installation methods vary depending on the chosen plugin. Common approaches include:
- Composer (dependency management tool)
- Magento Connect (official marketplace – availability depends on your Magento version)
- Manual File Upload (uploading files directly to your server)
- Refer to the specific plugin’s documentation for detailed installation instructions.
3. Configure the Plugin
- Once installed, access your Magento admin panel and navigate to the plugin’s configuration settings.
- Provide your API key or other credentials obtained from your chosen crypto payment gateway.
- Configure options like the displayed name for the crypto payment method at checkout, the settlement currency, and any other relevant settings.
4. Test the Integration
- After configuration, it’s crucial to thoroughly test the crypto payment functionality.
- Simulate a purchase on your Magento store and go through the checkout process using the crypto payment option.
- Ensure the transaction is processed successfully and reflected in your crypto wallet or the payment gateway’s dashboard.
5. Promote Your Crypto Payment Option
- Once everything is functional, let your customers know you accept cryptocurrency payments!
- Update your product pages, shopping cart, and checkout process to clearly display the available crypto payment options.
Best Magento 2 Payment Gateways for Your Business
Determining the “best” crypto payment gateway for Magento 2 depends on your specific needs and priorities. Here’s a breakdown of some popular options to help you choose:
Factors to Consider:
- Supported Cryptocurrencies: How many and which cryptocurrencies are important for your target audience (e.g., Bitcoin, Ethereum, niche altcoins)?
- Transaction Fees: How much does the gateway charge for processing transactions? Who bears the cost (you or the customer)?
- Ease of Use: Is the plugin user-friendly for both you (during configuration) and your customers (during checkout)?
- Security Features: Does the plugin prioritize security with features like encryption and fraud protection?
- Conversion to Fiat: Does the plugin offer automatic conversion to fiat currency (like USD or EUR) to minimize losses from price fluctuations?
- Customer Support: Is reliable customer support available from the plugin provider for troubleshooting?
