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How to accept bitcoin payments

Incorporate your business into the burgeoning digital world by offering potential new customers the possibility to pay for your products with Bitcoin. By enabling the Lightning Network you can cash out, instantly and virtually for free, using a second layer of Bitcoin.

Bitcoin Shopping Centre Service and Conditions

Why should you accept Bitcoin?

Or rather, what is stopping you from accepting Bitcoin as a form of payment in your business? After all, we are talking about a new form of money that has recently been declared legal tender in El Salvador. And as with Salvadorans, you are under no obligation to keep the Bitcoins you receive because you can exchange them instantly for your country’s FIAT currency at many cryptocurrency exchanges.

Every day more and more people are joining the Bitcoin economy and looking for where they can use their bitcoins to make online purchases.

But there is more, much more, let’s take a look at their characteristics and why it is in your interest to accept Bitcoin in exchange for the products you sell:

Bitcoin is a currency without borders

Bitcoin knows no borders, knows no nations, has no geopolitical interests and is used globally all over the world. No one can stop you from joining this new economy or block your accounts or freeze your balances. Bitcoin does not even work through banks, but is a decentralised cryptocurrency, which works through nodes that hundreds of thousands of users and miners have around the world, validating the transactions that end users make and checking a thousand times that these transfers are authentic. There are NO COUNTERFEIT BITCOINS, so the security of your payment is 100% guaranteed.

With Bitcoin, you can also expand your business territorially as far as you are able to take your product. At Bitcoin Shopping Center we can display your products in the countries where you want to sell them, with no restrictions other than those that you impose on yourself due to the ability to deliver your products.

We propose a totally personalized treatment with our clients (merchants) and we adjust to your needs so that you achieve your goals. Our entire team is at your disposal.

Bitcoin does not require registration

As mentioned above, Bitcoin does not work with banks. In fact, there are no intermediaries when making a transfer. The Bitcoin owner has them in his possession and does not need to give any personal or bank details to make the payment. An analogy could be that it is like collecting cash but online.

This has great advantages in e-commerce and is one of the reasons for the growth that cryptocurrencies in general and Bitcoin in particular are experiencing. Not having to give bank details to make a payment means that the payment is much more secure, there is no danger for the user of sensitive data theft which could result in loss of money and various other problems. So it is not surprising that these new payment systems in online shopping are gaining new followers on a daily basis.

There is no payment reversal in Bitcoin

This is the main feature of Bitcoin, payments are non-refundable. Once a Bitcoin payment is made, no one can reverse it. So not only is it safer for the buyer, it is also safer for the seller in online commerce. Once payment is received and the product is shipped, there is no uncertainty that, for whatever reason, that payment may later be reversed, refused or cancelled. This certainty is now possible and is a real solution to an existing problem in traditional online commerce, especially when selling in international markets, outside your own jurisdiction.

Problems accepting Bitcoin

Accepting bitcoin also entails several problems for the seller and the buyer, and that’s why we are here, to solve them in the best possible way. These are explained below:

Bitcoin is highly volatile

It is true that Bitcoin suffers from high price volatility and is continually fluctuating in price with sharp rises and falls. So being aware of this reality, there are ways to minimize these risks.

And that’s why we are here, so you can accept Bitcoin for your products without assuming any risk because we make sure you receive the same value in euros; if you wish, you will be paid in Bitcoin but you will receive euros.

Technical problems when cashing out Bitcoin

Another problem in accepting Bitcoin for trade is the associated technical problems. In order to be able to cash in Bitcoin securely, knowledge is required and this entails a learning curve that is by no means easy, especially to be able to cash in via “lightning”. In addition to this technical know-how, an investment is necessary to avoid problems in receiving payments. We take care of everything necessary for you to join the Bitcoin world without having to worry about any technical issues.

Trust issues when paying in Bitcoin

You are a serious trader, no one disputes that, but remember that Bitcoin payments are not reversible. The buyer will only make payments to trusted third parties. Our job is to generate that confidence in the payments that the buyer makes, guaranteeing that they will receive the order without any problem.

Other services we offer

We are also a Marketplace with high aspirations. We don’t just want to facilitate your integration into the Bitcoin world. We want our customers to generate more returns, more sales, more visibility for their products and adapt to your needs within our possibilities.

Bitcoin Shopping Centre conditions

If you are interested in working with us and be part of Bitcoin Shopping Centre, in the following link we talk about the conditions and details of the service we offer.

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Bitcoin Basics

Courtesy: cointelegraph

What is Bitcoin?

Bitcoin is basically money and this although it may seem obvious, is something long discussed by Bitcoiners, economists, politicians, journalists and professionals of all kinds.

Reality prevails and today, more than ever, we see that it is indeed money because it is used to exchange, save, pay, receive payments in the same way as any other money.

The big difference between Bitcoin and the rest of conventional currencies is that these are born and controlled by governments and their central banks, while Bitcoin is not.

When was Bitcoin born?

Bitcoin was born on January 9, 2009 with the launch of the 1st block (we will see later what a block is).

Satoshi Nakamoto, its creator, is someone nobody knows, so it is not known whether it is a person or a group of people.

Satoshi Nakamoto in 2008 released the Bitcoin whitepaper, a technical document explaining what Bitcoin is, what problems it solves and how it works technically (you can download it here).

What does Bitcoin solve?

Until 2009 there have been many attempts to create currencies independent of the states.

States have never allowed these currencies to succeed because it would destroy the monetary monopoly they hold.

Any attempt to create an independent currency has been crushed and its creators have been brought to justice with any kind of excuse, whether accused of laundering, trafficking or anything else.

Satoshi Nakamoto found a way to create an independent currency that does not depend on any central agency for its issuance, originality verification or storage. To do so, he invented the famous blockchain.

What is blockchain?

A blockchain, also known as a block chain, is a data structure that, through the use of cryptography, can ensure that all nodes have exactly the same database and that no one can manipulate it.

Its name is due to the fact that this structure is formed by correlated blocks, where any variation in any of them breaks the chain link.

This database contains the history of all the transactions that have taken place since the beginning, as well as all the coins that have been issued.

Thanks to the blockchain, for the first time in history a truly scarce digital commodity has come into existence.

How many Bitcoins are there?

In October 2021 there are 18.85 million Bitcoins issued, but there will never be more than 21 million.

This figure is something that can only change if the bitcoin community, which now numbers more than 300,000 nodes, agrees.

Due to its form of issuance, the total supply of Bitcoin will be reached more than a century from now.

How is Bitcoin issued?

There are two types of nodes in the Bitcoin network: miners and validators.

The miners are responsible for validating the transactions that are generated on the network for 10 minutes, packaging them and putting them into a block.

The validating nodes consider the block as good as long as it complies with the established rules.

Each time the miner creates a block accepted by all the nodes, he receives a reward, which is defined in the consensus rules.

What is Bitcoin halving?

One of the consensus rules of the nodes states that every 210,000 blocks created (approximately 4 years), the reward is reduced by half.

In 2009, the reward was 50 Bitcoin per block, i.e. during that first process exactly 10,500,000 Btc were created, half of the total that will exist.

In 2013 the reward dropped by half, instead of 50 Btc per block, the reward became 25 Btc per block, this is what is known as halving.

During the year 2013 to 2017, 5,250,000 Btc were created, which is just half of the remaining Btc to be issued.

In 2017 the reward dropped by half, instead of 25 Btc per block, the reward became 12.5 Btc per block.

From 2017 to 2021, 2,625,000 were therefore created.

Right now the reward per block is 6.25 Btc per block until the next halving which will be in 2024, i.e. in 2024 19,687,500 Btc will have been mined out of the total 21,000,000 Btc that will exist.

Any attempt to issue 1 Bitcoin too many by miners will be rejected by the validating nodes and will be invalid.

Is Bitcoin anonymous?

No. Bitcoin is pseudo-anonymous, i.e. Btc are stored in addresses similar to a bank account. Each address is unique and public.

The addresses are not related to any specific person, as long as that person does not identify himself in one way or another, for example by sending Bitcoin from or to an exchange house where he has identified himself.

With an explorer such as, you can see all the addresses and the movements between them.

How is Bitcoin transferred?

Btc are stored in wallets, which are applications that can be on both computers and cell phones.

The wallets generate public addresses that are linked to a seed, which is a unique address from which all other addresses are derived.

The wallets generate public addresses that are linked to a seed, which is a unique address from which all other addresses are derived.

Shipments can be onchain, transfers that miners validate and put into blocks, or they can be offchain, through e.g. Lightning Network.

What is Lightning Network?

Lightning, or LN, is a topic that deserves a separate article, as it is almost as big an invention as Bitcoin itself.

LN operates through thousands of nodes that have open payment channels between them in order to route payments from the payer to the collector.

This payment system allows Bitcoin to be transmitted instantaneously, without having to wait for the miner to validate the transaction and put it in a block, thus enabling payments with an unfairly low commission.

Why Bitcoin commissions?

The commission paid for transfers is paid to the miner who creates the block where the transfer is included.

Bitcoin blocks have a limited maximum size so that the cost of maintaining a node is low to keep the network decentralized.

A block can hold approximately 2,700 transfers and, as mentioned above, they are created every 10 minutes.

When the number of transactions made in that time exceeds the limit, the miners include those with the highest commissions, thus generating a commission market.

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Step by step to create your store in Bitcoin Shopping Centre.

The purpose of Bitcoin Shopping Centre is to create a space where the Bitcoin community can make use of their precious currency.

The current problem is that, although the bitcoin community is huge and why not say it, well capitalized, it encounters many problems to make use of the currency.

The supply of products for sale in exchange for bitcoin is very scarce in most countries and this makes it difficult for buyers to meet their demand.

To solve this problem, Bitcoin Shopping Centre was created to minimize the risks for both parties, since the merchant sells in bitcoin but receives the currency of his choice.

Here we will see step by step how to create an account on the platform and thus have your space, your store where you can sell your products and interact with your customers.

Create your store in Bitcoin Shopping Centre

Registration on the platform:

The first step is to register as a seller in the form that you will find in the following link: Bitcoin Shopping Centre Registration.

As the form indicates, you have to fill it in with the username that must be available, the name of the store, your name and email address.

As soon as you enter your email address, the platform sends you a code message that you have to enter, this is the email verification code.

After filling in the data, click on register.

Store validation:

After registering, you will see this screen, everything is fine, you just have to wait for us to validate the store.

This process can take up to 24 hours, to speed up the process send us an email to [email protected].

Since you are sending us the mail, tell us a little bit about yourselves, where you are from, what you sell, where you want to sell it, so we can establish the first relationships.

You will also receive an email with a link to verify your account. While waiting for the seller account to be verified, you will have activated the user account.

When we activate your account, we will send you an email informing you. When you log in to the platform again, with your email and password, you will directly see the following configuration screen.

Store configuration:

When you log in after store verification, you will be presented with the following configuration screen. We just give it to Let’s go!

First of all the image, the logo will appear on the page of your store and under each of your products, under the buy button. It looks much better if the measurements are square, approximately 500px x 500px.

The banner will be displayed in the background of your store page, ideally the image should be horizontal approximately 1200 x 600px.

If you don’t have the images ready, don’t worry, continue with the configuration and you will put them later.

If you go down, you can go putting data, it is not obligatory to put them all, put the ones you consider but, keep in mind that the more data is provided, the more confidence it generates to the seller. However, Bitcoin Shopping Centre guarantees the sale to the buyer.

Describe your store, your services, take advantage of this space to promote yourself, explain what you sell, how you produce it if you are a producer. In short, explain what you consider necessary.

It doesn’t matter how you put it, this is the payment method we pay you, not the one the customer will pay you with. This issue will be dealt with later.

Therefore, skip the step or click continue.

Store Policies

You are responsible for what you sell. You issue the invoice and take care of the shipments, therefore, you are the one who defines your refund or cancellation policies.

Remember that in the European Union, the buyer has the right to return a product, within 14 days, without needing any justification, so that is your legal minimum that you must comply with.

After-sales support:

Put all the information that the customer needs to make any inquiry, complaint or suggestion after making the purchase.

You can also put the address of your physical store if you have one.

Section to promote yourself.

As you can see, in Bitcoin Shopping Centre, we do not want to hide your identity, you are the protagonist, we are just a place where you can interact with your customers and where you can facilitate payments with Bitcoin.

In the SEO settings, by a brief description of your store, the keywords of your business, this is how browsers like Google will find you and direct you to your store on the platform.

Set up your social networks, so that any client or potential client can see how you work, your proposals, can get to know you.

After filling in all these last data, the store configuration is ready and we go directly to the control panel.

Recuerda que en cualquier momento puedes cambiar o rellenar cualquier dato de la configuración, así que si te falta algo al crear la tienda, no te preocupes.

Control panel:

After filling in the store data, we enter the control center.

Here you will be able to view notifications, orders, customer inquiries, invoicing.

You will be able to contact us or the customer who has purchased from you or made an inquiry.

Of course, you have your space to create your products, upload photos, definitions, create variations and translate everything so that they can be purchased in other countries if you wish.

CSV product import

If you already have a store created with woocommerce, you can import a CSV file with the products.

If your store is created with a platform other than woocommerce, you will have to modify the database to adapt it. Our suggestion is that you create a product manually, download the CSV to know the structure of the tables and be able to adapt the database.

If you have doubts about how to do the latter, write to us, we will try to help you.