How to Accept Crypto Payments as a Business

03/10/2025

Cryptocurrencies have long ceased to be accessible only to a narrow circle of professionals. Today, they can be used to pay for goods, services, subscriptions, and some companies even issue salaries in digital assets. More and more businesses are beginning to consider adding cryptocurrency to their list of payment methods. Sometimes even more convenient and cheaper than traditional payments, cryptocurrencies pose a threat to Visa and Mastercard, undermining the credit card industry not only in the U.S. but also around the world. Therefore, in this article we will take a detailed look at how a business can organize the acceptance of crypto payments, which tools to use, and what to pay attention to.

What Are Crypto Payments and How Do They Work

Crypto payments are a form of settlement in which a client transfers digital assets to a business instead of traditional fiat money. These transactions are based on blockchain technology, which records each operation in a distributed database.

How Crypto Payments Work

The process of paying with cryptocurrency looks like this: the client initiates a transfer to a unique wallet address belonging to the business. After that, the transaction is sent to the network, where it is verified and confirmed by miners or validators. Once the operation receives the required number of confirmations, the funds become available to the recipient. Unlike bank transfers, where the intermediary is the bank, crypto transactions take place directly, which simplifies the process and reduces the number of links in the chain.

Types of Cryptocurrency Wallets

To accept crypto payments, a business needs a wallet, and there are several types. There are cold wallets — these are devices or storage media that keep keys offline. They include hardware wallets and paper wallets, which are maximally secure but less convenient for daily operations.

Hot wallets, on the other hand, are connected to the internet, so they can be accessed from a smartphone. These may be mobile applications or web platforms. They make it easy to quickly send and receive payments, but they are more vulnerable to hacking attacks.

The third type is custodial wallets, where storage and management of funds are carried out by a third-party service, such as a crypto exchange. They are suitable for those who want to simplify the process and not deal with different methods, but in this case, you must have great trust in the provider with whom you leave your money.

Main Types of Cryptocurrencies

Among the most commonly used cryptocurrencies, several categories can be distinguished. Bitcoin remains the most well-known and the most valuable currency, accepted by many companies around the world. At the same time, it can also be an excellent investment, considering the growth potential of the coin. Ethereum is not only a digital currency but also a platform for creating smart contracts and decentralized applications.

A separate category is stablecoins, such as USDT or USDC. Their rate is pegged to the U.S. dollar, which significantly reduces their volatility. There are also many altcoins (that is, all coins except Bitcoin) on the market, such as Litecoin, Solana, or Cardano. They can be used for payments but are not as widely accepted as other coins.

Advantages of Accepting Cryptocurrency

For Businesses

For entrepreneurs, accepting cryptocurrency has several tangible advantages. First, it enables working with clients all over the world — crypto payments are not tied to a specific country, and any customer can pay just as easily as a local one. Second, it saves on fees. Bank transfers, especially international ones, often involve high charges, whereas crypto transfers are usually cheaper or even commission-free.

Another advantage for businesses is speed. Depending on the chosen network, payments can be completed within a few minutes or even seconds, which is significantly faster than bank transfers that sometimes take days or weeks. Finally, cryptocurrency can be used as a marketing tool: a business that accepts it is perceived as modern and innovation-oriented, which attracts additional audiences.

For Customers

From the customer’s perspective, crypto payments also offer tangible advantages. The buyer can pay for goods and services with digital currencies familiar to them without having to convert them into fiat. For international clients, this is especially convenient, as they do not need to worry about exchange rates and conversion fees. Thus, crypto payments give them access to global online services that may not support local payment methods.

Ways for Businesses to Accept Cryptocurrency

Direct Wallet Payments

The simplest option is direct transfers to a crypto wallet. The business creates an address, publishes it on the website or at the point of sale, and clients send funds to it. This method is convenient for small businesses and individual entrepreneurs, especially if the transaction volume is low. But it has its limitations: once the number of transactions grows, the lack of automation makes tracking payments a much more complex task. It will also be problematic to link them to specific orders.

Using Crypto Payment Gateways

Therefore, a more advanced option for medium and large businesses is connecting a crypto payment gateway. This is a service that integrates with a website or point-of-sale system and handles transaction processing. The gateway allows the client to choose the desired currency, automatically verifies the receipt of funds, and can instantly convert cryptocurrency into fiat. Thanks to this, the business does not need to worry about storage and volatility, and the payment process becomes as convenient and fast as possible for the customer.

Step-by-Step Plan for Businesses

Choose cryptocurrencies

For example, Bitcoin (BTC), Ethereum (ETH), or stablecoins (USDT, USDC). Stablecoins are useful if you want to avoid sharp exchange rate fluctuations.

Determine the method of acceptance

You can use a payment service such as BitPay or PassimPay, which help accept payments and, if necessary, automatically convert them into fiat. Or you can use your own wallet if you want to store cryptocurrency yourself. In this case, it is important to follow security measures, store funds in a cold wallet, and keep backups.

Connect to your business

For an online store, you need to install a plugin or payment service app, set up the API, and test payments. In an offline store, you can use QR codes to accept cryptocurrency.

Develop a crypto management strategy

Decide whether you will hold cryptocurrency as an investment or immediately convert it into fiat to reduce exchange rate risks.

Consider legal and tax aspects

Check what rules and taxes apply in your country, and keep records of all transactions for accounting and reporting.

Run tests and launch

First, make several test payments to make sure everything works correctly. After a successful test, you can start accepting cryptocurrency.

How to Accept Bitcoin Payments

Bitcoin is the most popular cryptocurrency, so it makes sense to start with it. To accept BTC directly, it is enough to create a Bitcoin wallet. The client transfers funds to your address, and after confirmation, you gain access to the bitcoins. If you want to simplify the process, you can connect a payment gateway such as PassimPay. Such services allow you to accept payments in Bitcoin and automatically convert them into stablecoins or even fiat currencies, reducing all volatility risks.

It is important to consider fees and transaction speed. In the Bitcoin network, the size of the fee depends on blockchain congestion, so sometimes transfers may be fast and cheap, while other times — expensive and slow. To speed up payments and reduce fees, the Lightning Network is sometimes used, making Bitcoin transfers almost instantaneous.

Advantages and Disadvantages of Accepting Payments Through a Payment Gateway

Advantages

Automatic payment processing
Easy integration with website and point of sale
Instant conversion of cryptocurrency into fiat
Increased fund security
Suitable for large-scale businesses
Faster receipt of funds than with a wallet

Disadvantages

Dependence on the work of a third-party service
Possible service fees
Requires trust in the provider

How to Reduce Risks When Working with Cryptocurrency

When working with cryptocurrency, businesses face certain risks, but they can be mitigated. For example, you can accept stablecoins — they do not fluctuate much in price, as they are pegged to the dollar or another currency. A good practice is diversification of assets, meaning you should not keep all funds only in Bitcoin; instead, distribute them across different cryptocurrencies or immediately convert part into fiat. For long-term storage, it is better to use cold wallets, as they are almost impossible to hack over the internet.

Do not forget about the law: in different countries, cryptocurrency rules vary, so you should check in advance how to properly keep records and pay taxes. Additional protection of funds can be provided by using payment gateways — they take on part of the risks and simplify transaction management.

Conclusion

Accepting cryptocurrency is a practical tool for business development. It allows you to expand sales geography, reduce costs, and attract new customers. To start, it is enough to choose a suitable wallet or connect a payment gateway, then test the process with small amounts and gradually integrate it into daily operations.

If you still have questions about how to connect crypto payments specifically to your business, you can contact our manager and get a free consultation — TELEGRAM

FAQ

01

How safe is it to make payments with cryptocurrency?

Crypto payments provide high security thanks to blockchain encryption, but there are risks typical of any financial transactions, such as wallet hacking or phishing attacks.

02

Can I make P2P payments with any crypto wallet?

Most wallets support P2P transactions, but compatibility varies depending on the specific cryptocurrency.

03

What is PassimPay and how does it simplify invoicing in cryptocurrency?

PassimPay is a crypto payment platform designed to simplify invoicing and payment processing (payment gateway) in cryptocurrency for businesses of various sizes and types. Supporting more than 70 different currencies, the service allows businesses to create invoices and accept payments in cryptocurrency in just a few clicks.

04

What can I pay for with cryptocurrency?

Almost anything. Cryptocurrencies allow for a wide variety of payments: for goods, services, other digital assets, subscriptions, and even charitable donations.