Looking to get paid in bitcoins or looking to pay someone in bitcoins? Whether you’re a seller, buyer, or both, this guide is for you. Read on to learn how to setup Coinbase to accept payments so you can start accepting Bitcoin payments.
Coinbase is a Bitcoin company that also offers a cryptocurrency wallet and exchange service. Merchants are able to integrate their Coinbase account with their website or e-commerce store to accept payments from customers who wish to make purchases using the merchant’s chosen payment method.
Once you have verified your identity and connected your bank account, it’s time to set up your Coinbase account to accept payments. Follow the steps below to get started.
Add Payment Methods
The first step towards enabling accepting payments using your Coinbase account is to add payment methods. Payment methods allow you to choose which cryptocurrencies you’ll be able to receive funds in, as well as which cryptocurrencies you’ll be able to send funds out of.
You can add payment methods either from the Settings page of your Coinbase account or from the Buy/Sell section of the Coinbase platform.
On the payment methods settings page, you’ll be able to see a list of all available payment methods, as well as their associated fees and how long it will take for the funds to arrive in your account.
Coinbase makes it easy to set up new payment methods. Simply click the “Add payment method” button, enter the information requested, and then submit.
Sign up for Coinbase
To start accepting payments through Coinbase, you’ll first need to sign up for an account. When setting up your account, you’ll be asked to enter a required address (private key), public key, and username. After you’ve confirmed your account, you’ll be able to access and manage your Coinbase funds through the Coinbase website.
Set Up an Account
After you’ve created an account and funded it with at least $25 worth of Bitcoin or Ethereum, you can continue to add funds until you reach your desired trading level.
To begin trading, you’ll first need to link your account to a bank account or payment method. This usually only takes a few minutes and is typically completed via a quick phone or online chat with a Coinbase support representative.
Once linked, you can begin trading Bitcoin or Ethereum for national currencies, commodities, or digital assets such as Bitcoin Cash, Ethereum Classic, or Litecoin. Coinbase offers both online and mobile trading platforms, as well as in-person options at both of its retail locations in the United States.
Add your Bank Account
After you’ve funded your account with at least $100 worth of Bitcoin or Ethereum, you can then add your bank account to buy and sell larger amounts of the cryptocurrencies supported by Coinbase.
To add a bank account, visit the Accounts page in your Coinbase account and select “Link a bank account.” Follow the on-screen instructions to get your bank account linked.
After you’ve added your bank account, funds will typically be available within 1-3 business days. Funds will appear in your Coinbase account as “purchases” and can be managed just like any other purchase you might make on the platform.
Set up a Merchant Account
If you’re interested in taking Bitcoin payments but want to expand your reach beyond the US borders, you can also set up a merchant account.
A merchant account allows you to receive payments from customers through a third-party payment processor. The payment processor typically charges a fee each time you receive a payment through them, based on your transaction amount.
After you’ve signed up for a merchant account, you’ll need to provide your bank account or credit card information. Your account will then be approved and, once complete, you can begin receiving payments through the merchant account.
Complete the signing process
After you’ve set up your bank account and added payment methods, it’s time to complete the signing process. This is simply a one-time verification process that confirms your identity.
To sign up for the verification process, visit the Verification page in your Coinbase account and enter your email address. After you submit your email address, you’ll be prompted to provide a phone number and/or scan a government-issued identification card.
You can also select “I’m a business owner” if you’re interested in becoming a verified business on the platform. After you complete the verification process, you can add your business and start receiving payments through the platform.
Add payment methods
After you’ve enabled payments in your Coinbase account, funds will appear as “purchases” in your account. You can then use these funds to make purchases on the platform or on third-party apps.
Here are a few payment method options you might consider adding to your Coinbase account:
If you’re interested in accepting Bitcoin payments, or if you’re an ecommerce merchant looking to start accepting cryptocurrency payments, then this guide is for you.
Coinbase makes it easy to set up a Bitcoin or cryptocurrency account that’s perfect for accepting payments from customers who want to make purchases using cryptocurrency.
Once you’ve verified your identity and connected your bank account, it’s time to set up your Coinbase account to accept payments. Follow the steps below to get started.