How to Accept Payment in Crypto from Customers

Cryptocurrency has transitioned from an experimental concept to a viable payment solution embraced by millions worldwide. Once considered speculative, digital currencies like Bitcoin and Ethereum now power transactions for thousands of businesses, from startups to multinational brands. This shift reflects a broader trend: as global commerce becomes increasingly digital, forward-thinking employers are reimagining how they exchange value across borders.

For businesses operating internationally, crypto’s borderless nature aligns with the demands of modern markets. Traditional payment systems, while reliable, were designed for a pre-digital era. Cryptocurrency offers an alternative path—one that bypasses geographic limitations and appeals to a growing base of tech-savvy customers.

Surveys indicate that 56% of consumers worldwide prefer merchants that accept cryptocurrency, signaling a shift in payment expectations. Likewise, 85% of merchants view crypto payments as a means to reach new consumers, and 77% stated that they accept crypto because it reduces transaction fees.

Adopting crypto payments isn’t just about technology—it’s about positioning. Early adopters signal innovation, attracting clients and talent who value cutting-edge solutions. In a competitive landscape, staying ahead means embracing tools that resonate with tomorrow’s economy today.

Benefits of accepting cryptocurrency payments

Integrating cryptocurrency payments isn’t just a tech upgrade—it’s a strategic business decision with tangible advantages. Here’s how businesses can benefit from adopting digital currencies:

Global customer access. Crypto eliminates currency conversion hurdles and cross-border fees, making it easier to serve clients in markets with restrictive banking systems or volatile local currencies.
Lower transaction costs. Credit card processors charge 2% to 4% per transaction, while crypto fees often fall below 1%, freeing capital for reinvestment.
Instant settlement speeds. International crypto payments settle in minutes, bypassing the 3-5 business days typically associated with wire transfers. This accelerates cash flow for time-sensitive projects.
Chargeback protection. Crypto transactions are irreversible, reducing the $125 billion annual global losses businesses face from fraudulent disputes.
24/7 payment availability. Unlike traditional banking systems, crypto networks operate around the clock, accommodating clients across time zones.
Innovation branding. “Offering cryptocurrency payments can be a way for companies to brand themselves as innovative rather than ‘a stuffy old brand that’s only selling to the boomers,’ Andrew O’Neill, Digital Assets Lead Analyst at S&P Global Ratings, told Reuters.
Financial inclusivity. Tap into the 1.7 billion unbanked adults worldwide by accepting payments from those who rely on digital wallets over traditional accounts.

These benefits collectively streamline operations, enhance profitability, and future-proof businesses in an increasingly decentralized economy. It’s no wonder that an increasing number of companies are adopting crypto-accepting payments from customers. Many mainstream brands, like Home Depot, AT&T, Starbucks, and Microsoft, are among “some surprising companies that accept cryptocurrency as payment,” reports Vinamrata Chaturvedi at Yahoo.

Step-by-step: How to accept crypto payments as a business

Integrating cryptocurrency payments into a business’s financial operations is simpler than many employers realize. By following these straightforward steps, organizations can securely access global markets and modernize their payment infrastructure.

Step 1: Choose which cryptocurrencies to accept

Start with widely recognized options like Bitcoin (BTC) and Ethereum (ETH) for broad appeal, and add stablecoins like USDC or USDT for price stability. For businesses prioritizing low fees and fast transactions, consider Litecoin (LTC) or Ripple (XRP). Diversifying the company’s crypto portfolio strikes a balance between accessibility and risk management—stablecoins minimize volatility, while established tokens appeal to tech-savvy clients.

Step 2: Set up a crypto wallet

Select a custodial wallet (e.g., Coinbase Commerce) for ease of use or a non-custodial wallet (e.g., Trust Wallet) for complete control. For high-value transactions, consider using hardware wallets like the Ledger Nano X for enhanced offline security. Enable multifactor authentication, store backup phrases offline, and test transactions in a sandbox environment before going live.

Step 3: Select a crypto payment processor

Top gateways, such as BitPay, Coinbase Commerce, and NOWPayments, simplify conversions, invoicing, and compliance. Prioritize processors with:

Fiat settlement options (e.g., instant USD/EUR conversion)
Multi-currency support (BTC, ETH, stablecoins)
API integration for custom platforms. For enterprises, white-label solutions like Antier offer scalability and the ability to customize branding.

Step 4: Integrate payment options into business operations

Online businesses. Use plugins for Shopify, WooCommerce, or Magento to embed crypto checkout buttons.
Brick-and-mortar. Generate QR codes for in-person payments or integrate crypto point-of-sale (POS) systems like BitPay’s mobile app.
Service providers. Add crypto payment links to invoices or payroll systems.

Step 5: Decide on crypto vs. fiat conversion

Use automatic conversion (e.g., Bitpace) to instantly swap crypto to fiat, reducing volatility risk. If holding crypto, track the market value at receipt and sale for tax reporting purposes. Maintain detailed records of transaction dates, amounts, and wallet addresses to simplify accounting and financial management.

Step 6: Communicate with customers

Update checkout pages with “We Accept Crypto” badges and clear instructions.
Publish FAQs explaining how to pay via QR codes or wallet addresses.
Promote adoption through targeted campaigns (e.g., “5% off with crypto”) and press releases highlighting innovation efforts.

By aligning each step with the company’s business model, an organization can seamlessly join the $2.4 trillion crypto economy while enhancing operational efficiency and customer appeal.

Regulatory and tax considerations

Navigating cryptocurrency regulations requires careful attention to jurisdictional laws, which vary significantly by region. In the European Union, the Markets in Crypto-Assets (MiCA) framework standardizes compliance for anti-money laundering and transaction reporting.

Conversely, countries like Nigeria or Vietnam impose stricter bans or licensing requirements. Businesses must research local laws and consult legal experts to avoid penalties.

Tax treatment also differs globally. In the United States, cryptocurrencies are classified as property and subject to capital gains taxes when sold or exchanged. Similarly, Australia treats crypto as taxable assets, while Germany exempts long-term holdings after one year. Partnering with a crypto-literate accountant ensures accurate reporting and identifies deductible expenses like transaction fees.

Maintaining detailed records is non-negotiable. Businesses should log transaction dates, amounts, wallet addresses, and fiat conversion rates at the time of payment. Tools like CoinTracker or Koinly automate this process and generate audit-ready reports. Proactive compliance not only mitigates legal risks but also builds trust with financially transparent clients.

Risks to be aware of (and how to manage them)

While cryptocurrency payments offer significant advantages, businesses must proactively address potential challenges. Here are the key risks and strategies to mitigate them:

Price volatility. Cryptocurrency values can fluctuate rapidly. Mitigate this by accepting stablecoins (e.g., USDC) or using payment processors that instantly convert crypto to fiat currency.
Security vulnerabilities. Crypto wallets and exchanges are frequent targets for hackers. Use platforms with ISO 27001 certification, enable multi-signature wallets, and store most funds in offline cold storage.
Regulatory uncertainty. Laws governing cryptocurrency vary by country and are subject to change. Regularly consult with legal advisors and monitor updates from organizations like the Financial Action Task Force (FATF).
Limited customer adoption. Not all clients may be crypto-ready. Start by accepting crypto for specific services or small transactions, then expand as demand grows.
Transaction irreversibility. Crypto payments cannot be canceled once they have been sent. Implement whitelisting and require clients to confirm wallet details via multiple channels.
Tax complexity. Mismanaged records can lead to audit risks. Utilize automated tools to track transactions and calculate gains and losses in real-time.
Liquidity challenges. Converting crypto to local currency may be slow in certain regions. Partner with global exchanges like Kraken or Binance for faster withdrawals and deposits.

By anticipating these risks and implementing tailored safeguards, businesses can harness the potential of crypto while maintaining operational stability and compliance.

Is accepting crypto right for your business?

Cryptocurrency payments offer businesses unmatched flexibility, speed, and a gateway to connect with new customers. For global teams and employers, crypto simplifies cross-border transactions, reduces processing delays, and aligns with the preferences of a digitally native workforce. These advantages are more than just theoretical and speculative—early adopters report improved cash flow and stronger client retention in competitive markets.

Businesses don’t need to overhaul their entire payment systems to start. Offering crypto as an optional payment method allows companies to test demand without abandoning traditional currencies. For example, enabling crypto for specific services, like international contractor payments or niche product lines, provides actionable insights while minimizing risk.

The decision hinges on two factors: customer needs and operational readiness. Employers should assess whether their clients or talent pool values access to crypto, particularly in regions with high adoption rates, such as Southeast Asia or Latin America. Pairing this with secure payment infrastructure and compliance safeguards ensures a smooth transition. In a dynamic financial environment increasingly shaped by blockchain technology, exploring crypto today could secure your business’s relevance tomorrow.

Utilize crypto for compensation with Velocity Global

Beyond accepting crypto as a form of payment from consumers and clients, organizations are utilizing crypto for global compensation packages to employees and contractors.

Velocity Global provides fully compliant international payroll and employer of record (EOR) services for global teams. Administer employee benefits and innovative compensation packages that leverage a range of currencies, including crypto payroll strategies.

See how blockchain technology company Consensys collaborated with Velocity Global to improve acquiring and retaining qualified cryptocurrency experts. Or get in touch to learn more.

Disclaimer: This information does not, and is not intended to, constitute legal or tax advice and is for general informational purposes only. The intent of this document is solely to provide general and preliminary information for private use. Do not rely on it as an alternative to legal, financial, taxation, or accountancy advice from an appropriately qualified professional. The content in this guide is provided “as is,” and no representations are made that the content is error-free.

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