Frictionless Commerce: A Story of How Easy It Is to Start Accepting Bitcoin Cash
Earlier this week news.Bitcoin.com received an email from an e-commerce shop owner who was having lots of issues dealing with traditional payment providers. Many of the problems stemmed from him not having a formal address and having bank accounts in different countries. However, the owner of store Bohemianbeachstyle.com quickly found out about Coinbase Commerce and how easy it is to accept the frictionless digital asset bitcoin cash and other cryptocurrencies.
An Online Store Owner’s Difficulties With Traditional Payment Providers
This week an individual named Fabio, the owner of the online fashion outlet Bohemianbeachstyle.com, sent news.Bitcoin.com an email detailing his struggle with dealing with traditional payment providers like Paypal and credit cards. Fabio is originally from Italy and he lived in the UK for a few years, but just recently he moved to Dubai with his girlfriend.
Fabio the owner of Bohemianbeachstyle.com just added Bitcoin Cash (BCH) acceptance to the e-commerce shop via the Coinbase Commerce platform.
Since moving to Dubai, Fabio realized how much harder it was to set up payment services for the online business he recently started. Fabio began to have issues with credit card services and Paypal, and had to dedicate lots of hours dealing with lawyers, agencies, and other countries to get things situated.
“Since all of our documents are in the name of my girlfriend and I am only renting a space, I don’t actually own an address on my own — This is where I started to realize that I couldn’t do many things since I don’t have a “proof of address,” Fabio explains to news.Bitcoin.com. “My passport is Italian and my bank account is in the UK and UAE — This is confusing for a lot of banks when you need to ask them to verify your payments,” the store owner adds.
Fabio said he had a lot of problems with laws and traditional financial institutions.
Coinbase Commerce and Bitcoin Cash to the Rescue
Fabio continues by saying that governments and laws have not been on his side so he recently created an account with Coinbase Commerce. To Fabio’s surprise setting up an account for Bohemianbeachstyle.com to accept cryptocurrencies only took him five minutes.
“Nobody asked me where I was from, passport, gender, nationality etc. — And since for me the real bitcoin is Bitcoin Cash and I don’t want to struggle with fees, I am happy to tell you that Bohemianbeachstyle.com is probably the first Bohemian clothing style e-commerce site that is proudly accepting ONLY Bitcoin Cash,” Fabio explains.
The Bohemian clothing style shop owner continues:
Signing up for a Coinbase Commerce account takes about five minutes and the application is non-custodial which means you hold your keys.
Signing up for Coinbase Commerce Takes Little Registration Effort and an Account Can Be Created in Five Minutes
After hearing Fabio’s story we decided to register at Coinbase Commerce (CC) to see how fast the sign-up process is and how much information is needed to set up. When entering the CC website the page asks the user for an email to register an account. We simply typed in our email and the account verification was sent to us instantly.
After signing up for CC users need to customize everything and add their domain to the account.
Following this step and gaining access to the CC account the platform requires two steps before beginning — Initiating two-factor authentication and writing down a seed phrase. After that, you can configure your payment choices from four different cryptocurrencies including bitcoin cash (BCH), ethereum (ETH), bitcoin core (BTC), and litecoin (LTC). On the CC dashboard, you can toggle these currencies on and off depending on which digital assets you prefer.
Coinbase Commerce allows for API key creation and webhook subscriptions. An online store can also integrate the service through Woo commerce, Prestashop, Shopify, Magento, and Open Cart.
Coinbase Commerce then allows you to customize the payment page by whitelisting a domain so you can embed a payment button on your website, create an API key, and add a webhook subscription URL to start receiving payment notifications. So signing up for Coinbase Commerce literally only takes five minutes like Fabio said and it only requires an email and a two-factor authentication app. However, customizing the merchant options will take store owners a bit more time to configure the payment services to the website in question.
Non-Custodial Savings and the ‘Importance of Economic Freedom’
Further unlike the Coinbase exchange or some of the other cryptocurrency payment providers, Coinbase Commerce gives the user the seed phrase all the assets are in the owner’s control. The platform’s ease of use allows people like Fabio and his e-commerce shop Bohemianbeachstyle.com the ability to accept cryptocurrencies without all the traditional hassles involved with existing financial institutions.
Fabio says since the experience he’s learned a great lesson and “understands the importance of economic freedom.”