Introduction:
Etsy is one of the leading websites for the sale of original and creative items allowing entrepreneurs of all ages and small businesses to bring their products to the public eye. Although bitcoin as a form of payment became popular in 2020, it remains a non-stream way of payment due to non-standardization in terms of use and number of users. In this article, we will see about ‘Does Etsy Accept Bitcoin?’.
Does Etsy Accept Bitcoin?
Etsy as a website does not accept bitcoin as a form of payment for goods at this time. In an interview conducted in 2021, the CEO of Etsy stated that the website had no intention of making Bitcoin a form of payment until it becomes more mainstream around the world in usage and acceptance. Although the website itself does not support bitcoin payments, depending on the items seller, an agreement can be made to accept the transfer of bitcoin via a variety of e-wallets and third-party services.
The list of vendors that accept bitcoin on Etsy is growing everyday as cryptocurrencies become the norm in this era of technological enlightenment and they are all identifiable on the website through the “bitcoin accepted here” banner on their shop profile or the bitcoin group search which is a community that lists all vendors accepting Bitcoin on Etsy.
How to Spot Shops that Take Bitcoin on Etsy?
1. On the home page of the shop, a banner would display the words ” BITCOIN ACCEPTED HERE” symbolizing that this shop owner accepts bitcoin.
2. Search for the Bitcoin group. This search would return a list of sellers who are currently accepting bitcoin as a payment option.
How to Pay with Bitcoin on Etsy?
To pay with bitcoin on Etsy,
1. Ensure the seller accepts first make sure the seller accepts bitcoin as a payment form.
2. Select ” Other ” as a payment method in Etsy’s checkout section.
3. Write a note indicating that you prefer to pay with bitcoin.
4. Once Etsy has notified the seller, you will be contacted with the payment address and amount.
5. Once the seller receives the payment, your order will be marked as paid and your item will be processed for payment.
How to accept Bitcoin as a payment option on Etsy?
Bitcoin has gained traction as a payment option in recent years due to the rising trend of usage. Customers that prefer bitcoin as a payment form should be considered while positioning a store for this trend.
Although Etsy does not have an automatic system for accepting Bitcoin payments, other means can be employed to accept bitcoin as a form of payment.
These means would be explained further.
1. To begin to accept Bitcoin as a payment format, you need to decide if you wish to convert your Bitcoin to cash or save it in an e-wallet.
If your intention is to convert your Bitcoin to cash, a third-party payment processor is recommended examples including; COINBASE and PATRICIA.NG, etc. These payment processors handle the details of payment and provide a payment amount and address to which payment can be made. These processors then convert the amount to money which is deposited into your designated account.
If you wish to retain your Bitcoin as cryptocurrency, you will need to acquire a Bitcoin wallet. By acquiring a wallet, customers have the option of indicating their interest in paying by Bitcoin, and you, the seller would provide the payment amount and address.
2. After deciding on either obtaining an e-wallet or opting for a third-party payment processor, you will have to ensure that the buyer goes through the proper channels on Etsy to make payment. This can be done by making the payment option “Other” available on your shop profile on Etsy. In this manner, Etsy as a website acquires its percentage and any transactions made do not violate company policies.
To do this, simply login to your ship on Etsy, select shipping and payment then select the payment method option. Enable the “Other” payment form.
Avoiding this step and doing under-the-table dealings can be harmful to others who use Bitcoin and can result in problems for your shop due to payment violations.
3. Make sure others know you accept Bitcoin.
To do this, you must list Bitcoin as a form of payment in your shop making it part of your accepted payment methods. You may also wish to add it to the tags and policies of your shop.
4. Join the Bitcoin Group on Etsy.
This group makes it easier to reach customers who value the option of Bitcoin transfer. The group lists your shop as one of several that accept Bitcoin as a form of payment. Search for the Bitcoin team page on Etsy and click the Join the team button.
Conclusion
Cryptocurrencies such Bitcoin are gaining rapid acceptance not just as a means of investment but as an avenue for fast, secure and efficient fund transfer. Throughout the world, people and businesses alike are getting more and more interested in cryptocurrencies. Consumers are becoming more interested in spending via these means because it is fast and less prone to cyberattacks. Businesses that accept Bitcoin have a wider customer base as bitcoin is becoming a form of global currency and it makes transactions easier. Although Bitcoin is not available as an automatic mode of payment on Etsy, other means of accepting Bitcoin have been discussed.
