Accepting Bitcoin

Discussion in 'Payment Processing' started by hosttricks, Jan 25, 2015.

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  1. #1
    Hello all

    Im not that clued up on bitcoin but have had requests to accept so im looking to accept payments i must be onhest it all seems abit confusing on how to actually accept bitcoin and what merchant account to choose

    I currently use paypal and payza and use whmcs so it would need to have a module available for whmcs any ideas?

    Thanks
     
    hosttricks, Jan 25, 2015 IP
  2. O-D-T

    O-D-T Member

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    #2
    Hi, it depends on whether you are looking for implementing it on your own, or if you do not mind using a third party service.

    If you just want to make it simple and integrate as soon as possible, then go with BitPay.

    If you are looking to implementing it on your own, then it get's a bit more complicated. This is what we chose for our project. You will have to understand how Bitcoin works. You will have to know what confirmations are and you will have to figure out, how do you obtain information on the number of confirmations for each transaction. For this you can either use third party API again - like Blockchain API - or you can run your own Bitcoin Core wallet software. You can follow the instructions in Bitcoin wiki on this topic - Merchant How To (pregenerate a pool of addresses and use them one by one - very simple for implementation). With your own implementation, you have to care about corner cases such as "the client sent you more than he should", "the client sent you less than he should", "the client did not pay - you want to reuse the address after some time" etc. You will also want to keep an eye on the USD/BTC exchange rate in order to keep your pricing in BTC reasonable. Bitcoin Average API might be a good choice for that.
     
    O-D-T, Jan 26, 2015 IP
  3. FPForum

    FPForum Notable Member

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    #3
    Sounds like you need this to accept web hosting payments. Avoid what the other person has said because none of that has anything to do with WHMCS. From a quick search, it looks like there are 2 modules out there for WHMCS which allows Bitcoin:
    whmcs.com/appstore/1570/Blockchaininfo-Bitcoin-Payment-Gateway.html
    whmcs.com/appstore/1162/Coinbase-Bitcoin-Payment-Gateway.html

    I haven't tried either of them, but considering they are WHMCS modules they probably do most of the work/coding for you. Similar to setting up PayPal, Payza, Google Checkout, and most of the others inside WHMCS - you probably just need to enter your details and do a little configuring. Thankfully, since they are WHMCS modules you can probably get pretty decent help/support on them in the WHMCS forums.
     
    FPForum, Feb 8, 2015 IP