Benefits of Offering Bitcoin and Ethereum Payments

There are many benefits for sellers to offer crypto payment for both digital products and real products and services. Some industries count on crypto payments for a significant percentage of their revenue.  In the case of high-ticket items (such as art, vehicles, boats and Real Estate), crypto is becoming increasingly acceptable by major players. Below is an overview of the benefits of accepting crypto-payments. 

Global Market Expansion: Cryptocurrencies like Bitcoin and Ethereum are not bound by national borders, making it easier for businesses to reach a global audience without worrying about exchange rates and local currency restrictions.

Lower Transaction Fees: Traditional payment methods often come with various fees, especially for cross-border transactions. Cryptocurrencies can significantly reduce these costs by eliminating intermediaries.

Faster Transactions: Cryptocurrency transactions can be processed much faster than traditional bank transfers, especially for international payments.

Enhanced Security: Blockchain technology provides a high level of security for transactions, reducing the risk of fraud and chargebacks.
Attracting Tech-Savvy Customers: Offering cryptocurrency payments can attract a new segment of tech-savvy customers who prefer using digital currencies. 

Transparency and Trust: Blockchain’s transparency can build trust between buyers and sellers, as all transactions are recorded on a public ledger. 

Industries Using Cryptocurrency
Digital Commerce: Many eCommerce giants like Newegg, Etsy, and Home Depot accept crypto payments, making it easier for customers to purchase a wide range of products. 

Ditigial Art: It is a huge part of eCommerce. The digital art market has been growing rapidly in recent years. In 2023, the global digital art market size was estimated at USD 4.2 billion and is projected to reach USD 17.39 billion by 2032, expanding at a compound annual growth rate (CAGR) of 17.1% during 2024–20321. Additionally, the online art market, which includes digital art, was valued at USD 9.18 billion in 2022 and is expected to grow at a CAGR of 9.0% from 2023 to 20302. This growth is driven by advancements in technology, the rising popularity of digital art, and the increasing use of blockchain technology and NFTs.

NFTs:  The NFT marketplace is 13B per year. Rare and high-value art can be very expensive, and many buyers and sellers prefer crypto. 

Online Gambling: Online gambling platforms often accept cryptocurrencies due to their fast processing times and enhanced privacy.

Online Gaming: The gaming industry has embraced cryptocurrencies for in-game purchases and rewards, offering a seamless and secure payment method. 

Charity: Many charitable organizations accept cryptocurrency donations, providing a transparent and efficient way to receive funds.

Crowdfunding: Cryptocurrencies are used in crowdfunding platforms to facilitate secure and transparent funding for various projects. 

Financial Institutions: Some financial institutions are exploring the use of cryptocurrencies for faster and more secure transactions. 

Political Campaigns: Thousands of candidates for any type of official or unoffical offices accept crypto donations. 

Food & Beverage: Certain restaurants and food delivery services accept cryptocurrencies, catering to tech-savvy customers4.
By integrating Bitcoin and Ethereum payment methods, eCommerce websites can tap into these benefits and cater to a broader audience across various industries.

Multimediacart Packages offer the ability to accept Bitcoin payments and we will be offering support for other currencies in 2025. Below, we describe how we support Bitcoin payments via our Paypal integration. 

Paypal Support for Cyrypto Purchasing

PayPal has integrated cryptocurrency support, allowing users to buy, sell, hold, and even use cryptocurrencies like Bitcoin for payments. Here’s how PayPal supports Bitcoin payments:

Buying and Selling: Users can buy and sell Bitcoin directly through their PayPal accounts. This feature is available to U.S. users and allows them to manage their cryptocurrency portfolio within the PayPal app.

Holding: Users can hold Bitcoin in their PayPal digital wallet, just like they would with traditional currencies.

Transferring: PayPal allows users to transfer Bitcoin to other PayPal accounts or external wallets. This feature provides flexibility for users to move their crypto assets as needed

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Checkout with Crypto: PayPal’s “Checkout with Crypto” feature enables users to use their Bitcoin to make purchases at millions of online merchants that accept PayPal. When checking out, users can select Bitcoin as their payment method if they have enough in their PayPal wallet.


No Fees for Transfers: PayPal does not charge fees for sending or receiving Bitcoin between PayPal accounts.

Price Alerts: Users can set up price alerts for Bitcoin to stay informed about market changes1.
By offering these features, PayPal makes it easier for users to engage with cryptocurrencies and use them for everyday transactions.

Paypal Bitcoin Checkout

How to use Crypto at checkout?

Checkout with Crypto offers U.S. Customers with Personal and Premier PayPal accounts a new way to utilize their cryptocurrency holdings to pay for select online purchases with millions of online businesses, bringing enhanced utility to cryptocurrency.    

You will be able to use your cryptocurrency balance as a payment option at checkout.

How does the checkout with crypto feature work?

Building on the ability to buy, hold and sell cryptocurrency with PayPal, customers using Checkout with Crypto can now choose to check out safely and easily by converting cryptocurrency holdings to fiat currency at checkout, with certainty of value and no additional transaction fees. Checkout with Crypto will automatically appear in the PayPal wallet at checkout for customers with a sufficient cryptocurrency balance to cover an eligible purchase.

Can I use multiple cryptocurrencies and/or use multiple payment methods for a single purchase when using Crypto at checkout?

No. A customer must have a sufficient balance of cryptocurrency to cover the cost of the purchase they would like to make using Checkout with Crypto for the feature to appear in the PayPal checkout flow. Customers can also only utilize one type of cryptocurrency to fund a purchase at a time.

Here's how to use crypto at checkout:     

  1. Click Checkout with PayPal.    
  2. Fill in your PayPal account information and Click Log In.    
  3. Select the Crypto - Review Terms and Conditions and click Got It.    
  4. Review the exchange rate and click Sell (PayPal USD, Bitcoin, Ethereum, Litecoin, or Bitcoin Cash) to continue.

You can find our Crypto Terms and Agreements and Acceptable Use Policy by clicking Legal at the bottom of any PayPal page.

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BTCPay Bitcoin Payment Method

Mediagration will be adding BTCPay Server-based Bitcoin payment method soon.  BTCPay Server is free to use and completely open-source, so developers or security auditors can always inspect the quality of the code.  

Features

  • Direct, peer-to-peer Bitcoin payments
  • No transaction fees (other than the network fee (opens new window))
  • No processing fees
  • No middleman
  • No KYC
  • Non-custodial (complete control over the private key)
  • Enhanced privacy
  • Enhanced security
  • Self-hosted software
  • SegWit support
  • Lightning Network support (LND, Core Lightning (CLN) & Eclair implementations)
  • Tor support
  • Opt-in altcoin integrations
  • Full compatibility with legacy BitPay API (easy migration)
  • Process payments for others
  • Easy-embeddable payment buttons
  • Point of sale app
  • Crowdfunding app
  • Payment Requests
  • Internal, full-node reliant wallet with hardware wallet integration
  • Payjoin Support

#Getting started with Gas Fees

Gas fees for NFT minting can vary significantly based on the blockchain and the current network demand. Here are some key points to consider:

  1. Ethereum: Historically, gas fees on Ethereum have been quite high, sometimes averaging over $40 per transaction during peak times1. However, these fees can fluctuate, and you might find lower fees during off-peak hours, such as weekends and nights1.

  2. Polygon: Polygon offers a more cost-effective option with significantly lower gas fees. In fact, Polygon has introduced a redesigned NFT Minter that allows users to create NFTs with custom utilities and pay zero gas fees2.

  3. Other Blockchains: Different blockchains have varying gas fees. For example, blockchains like Klaytn, Arbitrum, Optimism, Avalanche, and BNB Chain also have different fee structures3.

To minimize gas fees, you can consider minting during off-peak hours or using blockchains with lower fees like Polygon. If you have any more questions or need further assistance, feel free to ask!

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