Accepting bitcoin is less exotic than it sounds. You add a bitcoin checkout to the places you already get paid, payments land in a wallet you control, and you decide whether to keep the bitcoin or turn it into dollars.
Where you can accept it
- Your website: a Pay with Bitcoin button.
- Online stores: Shopify and WooCommerce, through BTCPay's plugins.
- At the counter: a point-of-sale screen on a phone or tablet.
- Invoices: payment links in dollars, paid in bitcoin.
Lightning or on-chain?
| ⚡ Lightning | On-chain | |
|---|---|---|
| Speed | Settles in about a second | Final after one confirmation, about 10 minutes |
| Fees | A fraction of a cent | The customer pays the network fee |
| Best for | The counter, takeout, everyday amounts | Invoices and larger amounts |
A good checkout offers both and lets the customer pick. Lightning pays into a Lightning wallet or account of your own, which gets set up with you.
Who holds the money?
Many bitcoin payment services take the money first and pay you out later. With a self-hosted checkout like BTCPay, the payment goes from your customer to your wallet. The checkout only has your wallet's public key, which can create receiving addresses but can't spend.
Fees compared with cards
Card processing typically takes about 2.6–3.5% of every sale, plus chargebacks. A bitcoin payment has no processing percentage, and it can't be reversed by the payer — refunds are something you send, not something done to you.
Taxes and the law in Texas
Businesses in Texas and across the US can accept bitcoin. You collect sales tax as usual, and bitcoin you receive counts as income at its dollar value when you receive it. Check with your accountant for your situation.
Frequently asked questions
Do I have to keep the bitcoin?
No. Keep it, or send it to an exchange account in your name and turn it into dollars whenever you like.
What do my customers need?
Any bitcoin wallet, such as Cash App, Strike or Phoenix. They scan a QR code or tap a link.
What about refunds?
You send a refund from your wallet; BTCPay can create a refund link for the customer.