With over 400,000 daily active users, Bitcoin is one of the strongest cryptocurrencies on the internet. Some of the most popular companies like Microsoft, Etsy, and Subway have already started accepting Bitcoin payments. That’s not all. Nowadays, even global NGOs accept Bitcoin donations. Its decentralized nature, low transaction fees, and global reach are a few primary reasons behind Bitcoin’s rapid adoption.
If you’re a WooCommerce store owner seeking to accept Bitcoin payments, download and integrate the Speed plugin into your WordPress website. It’s fast, secure, and easy to set up. To make the most of the plugin, you will need to sign up for a Speed account — it’s completely free. There are no platform charges or recurring maintenance fees.
Accepting Bitcoins on your WordPress store will help you deliver an engaging shopping experience to your international customers. They have the potential of becoming the future of digital currency. With the Speed plugin, you can harness Bitcoin’s potential to your advantage.
Speed has many features to help you accept lightning-fast Bitcoin payments. Here are a few features you can access when you sign up with Speed:
To use the plugin and access all the above features, you will need a Speed account. Once registered, you can use their web app to generate payment links, QRs, and manage your transactions.
To install the Speed plugin, you need:
To learn more, see Installing and Managing Plugins.
Once the plugin is activated, you can start its configuration. Go to WooCommerce » Settings » Payments » Speed. Click Finish set up to configure Speed – Bitcoin settings. All the tabs & fields in these are required to complete the setup.
On the configuration page, you will see 4 settings tabs.
Here, you will be able to view all the general plugin settings, like its status, transaction mode, payment method name, logo, and description. Let’s understand them individually:
Plugin Status: By default, the plugin status will be ‘Enable’. If you’d like to disable the plugin without deactivating it from WordPress, you can quickly do it by switching its status to ‘Disable’.
Transaction Mode: Speed allows you to test payments before enabling real transactions. You can quickly toggle between ‘Test’ and ‘Live’ modes through ‘Transaction Mode’ in General Settings.
Payment Method Name: Anything you enter here will be displayed in the payment method section on the checkout page.
Statement Description: This description will be displayed in your customer’s wallet app against their transaction on your website. You can customize this note to help your customers easily identify their transactions with you.
Description: This description will be displayed on the checkout page under the payment method. You can customize this to provide users with additional information about this payment method.
Checkout image: You can choose whether the Speed logo should be displayed or not on the checkout page.
Once you configure these settings, click on ‘Connect & Save Changes’ to lock your preferences.
Once you’ve successfully configured the general settings, it’s time to fix the test and live settings for accepting payments.
Webhooks will keep the communication between Speed and your site. It provides information such as the status of the checkout session’s payment and is used to update the orders based on certain events.
3. Click on the Test Connection to see if these keys establish a successful connection. You must connect your website to a Speed account and then test the connection. For both modes, test or live.
Initially, when an order is created, the order status is payment pending. Once your customer completes the payment, the order status changes to processing. This status is marked “processing” because of the default settings, as seen below.
You can select the order status of your choice from the three available options mentioned below to show that the customer has made the payment.
Check all the details are filled in, and click Connect and Save Changes.
Your customers can easily complete their payment by selecting the Speed – Bitcoin payment option on your store, as shown below. After placing an order, they will be redirected to the Speed payment page to complete the crypto transaction.
Speed is by far one of the most versatile Bitcoin payment plugins out there. Here’s what makes it stand out:
Today, Bitcoins are accepted by some of the most popular companies including Etsy, Gucci, Subway, Microsoft, and many more. Bitcoin transactions are fast, safe, anonymous, and global.
To start accepting Bitcoin payments on your WooCommerce store, download and install our Speed plugin. It’s free, open-source, and highly scalable. What’s more, we offer lifetime free updates to ensure the plugin remains compatible with the latest version of WordPress.
Get started today and unlock the boundless potential of Blockchain technology.