Complete Guide: How to Adopt Bitcoin Payments For Your Business

If we say Bitcoin and other cryptocurrencies have changed our collective views on finances, we wouldn’t be lying. We went from depending solely on local banks to having several choices, and the advent of cryptocurrency made this possible. In the wake of the opportunity created by crypto, several small businesses have adopted Bitcoin as a payment method for their goods and services. This is a smart business move because the number of crypto traders in Africa, especially Nigeria and Ghana, continues to rise. 

Again, if we are, to be honest with ourselves, we would also agree that the reason why most businesses are still reluctant to accept Bitcoin as a means of payment is because of its value volatility. 

Business owners want to avoid the case whereby goods is purchased at a particular price today, but the value of Bitcoin goes down the next day and reduces their gain. This shouldn’t be a problem because while the value of Bitcoin can go down sometimes, it also increases immensely. The trick is to be patient so that you can eat big. However, you will still need to consider your risk tolerance before making a final decision. For those business owners that have decided to adopt Bitcoin for their companies and don’t know how this guide is for you. 

How your business can accept Bitcoin payments

The primary reason your business should adopt cryptocurrency is because the world is becoming more digital than it has ever been. It is crucial that your customers see you as innovative and moving with the tide. If you have an online business, it is easier for traders to make payments using Bitcoin because of the Peer-2-Peer payment that crypto wallets allow. Accepting Bitcoin as payment for your services is a direct investment for you because if Bitcoin increases in value, your profit has increased too.

The steps involved in adding Bitcoin payment options to your business are straightforward.

Create a Bitcoin wallet

Research the best Bitcoin wallets and use them. Immediately you create a Bitcoin wallet, you’ll be given a wallet address and private key. The wallet address can be shared with the public, but you should never share the private key. Astro Africa has the safest Bitcoin wallet in Nigeria and Ghana, and it’ll be an excellent addition to your business website. 

Create a cryptocurrency payment gateway

Several online websites can help you create a Bitcoin payment gateway for your business at a fee. Just ensure to select one that is reliable and swift.

Add Bitcoin payment options to your business website

In the same way, you added the PayPal payment option to your website, add the Bitcoin payment option. Your customers will directly transfer Bitcoin of the same value as the goods they buy to your wallet address.

Sell Bitcoin on the Best Platform in Nigeria and Ghana

As you adopt cryptocurrency for your business, you must find the best platform to exchange cryptocurrency for cash. While you may consider platforms that make unrealistic promises about your profits so that you can gain more, it may be dangerous. Any platform that promises assured returns is fake and is trying to lure you to its nest so that it can scam you. 

The best way to avoid fake platforms is to use excellent and reliable exchange platforms like Astro Africa. Astro Africa is undoubtedly one of the best crypto exchange platforms in this Africa because of how it approaches crypto trading. Astro Africa believes that every crypto trader deserves to enjoy the best trading experiences, and that is what Astro Africa offers. 

On Astro Africa, you can sell Bitcoin at the best rates and get paid immediately. We have a rates calculator that allows you to calculate the current rates of your Bitcoin, as the value is not stable. After converting Bitcoin to naira or Cedis on the platform, you can decide to withdraw it into your local bank accounts. 

Astro Africa is well-secured, so you never have to worry about getting hacked and losing your assets. Our customer service team is super responsive and will always prioritize your needs as a user of the platform. To use the Astro Africa platform, follow the steps below.

  • Create an account through our mobile app or website.
  • Click on Sell Crypto on your account dashboard.
  • You can sell Bitcoin, Ethereum, USDT (Tether) and BNB. Choose Bitcoin as your preferred choice.
  • On the next page, choose your payout wallet (Naira or Cedi wallet), and enter the amount in dollars or BTC; the calculator will display the amount you will receive in your local currency; click on Proceed if you agree with the terms.
  • The system will provide a wallet address that you can copy or scan to get the displayed bar code; click “I have sent Bitcoin” when you send the coin to the provided wallet address.
  • Your wallet will be credited immediately after the Bitcoin transaction is verified.