Fintoism BTCPayServer Bitcoin Payments

How to Accept Bitcoin Payments: BTCPayServer

Accepting bitcoin payments can be done through various means. Rather than relying on the whims of a third-party processor, it is easier to integrate BTC support directly. BTCPayServer provides this solution through anyone in the world at no additional cost. 

Payment Processors Are Whimsical

When relying on third party service providers, a lot of things can go wrong. That concept still applies to cryptocurrency payments in 2019. If a payment processor has an outage or massive issue, sending and receiving bitcoins can be extremely difficult. 

Cryptocurrencies are about empowering users and allowing them to take action accordingly. For those looking to handle bitcoin transactions, setting up one’s own gateway is a far better option. In this day and age, convenient solutions exist to do exactly. They will bring strong competition to the likes of BitPay and others. 

Why BTCPayServer?

There are many reasons who self-hosted bitcoin payment support is better. In the case of BTCPayServer, there are a lot of aspects working in its favor.

First of all, the code is open source. This allows anyone to review the code priori to integrating it into their online platform. It also provides customization. Developers can make adjustments and improvements as they see fit. Those changes can even be shared with the rest of the community.

A second advantage to BTCPayServer is how it doesn’t require a third party. Albeit users need to host the payment script themselves, the setup is very straightforward. As long as one’s server remains online, there will be no problems with bitcoin payments. Having full control over this aspect is a bonus that shouldn’t be underestimated. 

The biggest advantage is the lack of processing fees. With no third-party involved, processing payments is done fee-less. No one needs to be paid, as all transactions are sent to the user’s wallet directly. This also means converting to fiat currencies needs to be taken care of by the recipient. A small price to pay for being in full control. 

How to Host it?

Users interested in BTCPayServer need reliable hosting. There are numerous ways to go about this. Using a web server or VPS to run the script is an affordable option. The same applies to putting it on Microsoft Azure, or in Google’s Cloud.

A more secure solution is having it run on a Raspberry Pi. These cheap yet powerful micro computers are a godsend. It allows users to run the script locally and monitor it accordingly.  Deploying it on a Pi is also fairly straightforward, making for an appealing alternative. 

Easy Integration With Existing Solutions

Enabling BTCPayServer is only the first step. Integrating it into one’s existing e-commerce solution is the next. By default, this bitcoin payment processing solution supports the most commonly used options. For now, the list includes WooCommerce, Magento, PrestaShop, and Drupal.

The developers put together a guide to compete a custom integration. It is a very easy setup process to complete in either regard. Making it convenient to integrate is crucial to turn more merchants toward bitcoin. 

Lightning Network Support

Another crucial aspect is how BTCPayServer supports Bitcoin’s Lightning Network. This makes it easier to accept micropayments.  Additionally, it also makes it faster and cheaper to handle bitcoin transactions for larger purchases. 

The downside is how users need to run and host a Lightning Node. This might be a slightly more technical approach to handling BTC transactions. It is an option well worth exploring for the future, however. Industry experts believe Lightning payments will only grow in popularity. 

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