What Are Cryptocurrency Payments?
Cryptocurrency payments allow your clients to pay you using digital currencies like Bitcoin, Ethereum, or stablecoins. These payments are processed on blockchain networks, providing transparency, security, and global accessibility without the need for traditional banking infrastructure.
Unlike traditional payments that require bank accounts and can take days to process, cryptocurrency payments settle in minutes and can be sent from anywhere in the world. This makes them particularly valuable for international business and clients in regions with limited banking access.
Why Accept Cryptocurrency?
Global Payments
Accept payments from anywhere in the world without traditional banking restrictions or currency conversion fees.
Fast Settlement
Receive payments in minutes rather than days, with transactions confirmed on the blockchain in real-time.
Lower Fees
Cryptocurrency payments typically cost 1-3% compared to 3-5% for traditional payment methods.
Enhanced Security
Blockchain technology provides cryptographic security and immutable transaction records.
Supported Cryptocurrencies
We support the most popular and stable cryptocurrencies to give your clients options while ensuring reliable, secure payments:
Bitcoin (BTC)
The world's first and most trusted cryptocurrency, perfect for large transactions and long-term value storage.
USD Coin (USDC)
A stable cryptocurrency pegged to the US Dollar, providing price stability and predictable value.
Ethereum (ETH)
The second-largest cryptocurrency with smart contract capabilities and broad ecosystem support.
How to Set Up Crypto Payments
Setting up cryptocurrency payments is straightforward. You'll need to create wallet addresses for the cryptocurrencies you want to accept, then connect these wallets to your Plaen account.
Step 1: Create Crypto Wallets
First, set up secure cryptocurrency wallets for each coin you want to accept. We recommend using hardware wallets for large amounts or reputable software wallets like MetaMask, Coinbase Wallet, or Trust Wallet for smaller amounts.
Step 2: Connect to Plaen
In your Plaen account settings, navigate to Payment Methods and add your cryptocurrency wallet addresses. You'll need to provide the public wallet address for each cryptocurrency you want to accept - never share your private keys.
Step 3: Enable and Test
Once your wallets are connected, enable cryptocurrency payments for your invoices. We recommend sending yourself a small test payment to ensure everything is working correctly before accepting real client payments.
Important Considerations
While cryptocurrency payments offer many advantages, there are some important factors to keep in mind when accepting crypto payments:
Price Volatility
Cryptocurrency prices can fluctuate significantly. Consider using stablecoins like USDC for price stability, or convert to your local currency immediately upon receipt if you prefer predictable values.
Security Best Practices
Use hardware wallets for large amounts, enable two-factor authentication on all accounts, and always verify wallet addresses before sharing them with clients. Double-check all transactions as cryptocurrency payments cannot be reversed.
Regulatory Compliance
Cryptocurrency regulations vary by country and are constantly evolving. Consult with a tax professional about reporting requirements and compliance obligations in your jurisdiction before accepting crypto payments.
Fees and Processing Times
Cryptocurrency transaction fees vary by network and current demand. Bitcoin fees typically range from $1-10 per transaction, while Ethereum fees can vary from $5-50 depending on network congestion. Stablecoin transfers on efficient networks often cost less than $1.
Processing times are generally much faster than traditional payments. Most cryptocurrency transactions confirm within 10-60 minutes, with some networks providing near-instant confirmation. This is significantly faster than bank transfers which can take 1-5 business days.
Need Help?
Setting up cryptocurrency payments can seem complex at first, but our support team is here to guide you through the process. Contact us through the chat widget or email us at support@plaen.comfor personalized assistance.