Bringing simple and convenient e-commerce solutions to existing Bitcoin users is a great step forward in growing the ecosystem. As more and more people can accept Bitcoin payments directly, a new wave of virtual currency adoption might be just around the corner. Coinkite, a wallet provider, recently presented their new e-commerce solution for Bitcoin users.
A Buy-It-Now Button For Coinkite Users
Rather than just looking at this new Coinkite feature as a way to sell goods and services in exchange for Bitcoin, the buy-it-now button can be used to accept Bitcoin donations as well. All payments received with this new e-commerce solution will automatically transfer incoming transactions to the user’s Coinkite wallet.
It is important to note that Coinkite’s e-commerce solution is not limited to using one and the same receiving address all the time. Similar to how other Bitcoin e-commerce solutions work, receiving addresses will be rotated automatically, increasing the privacy level and offering an accounting advantage for Coinkite users.
Setting up a Coinkite wallet can already be done in an anonymous manner, making it appealing to merchants and individual users alike. Coinkite wants to offer their users a completely anonymous e-commerce solution. However, with that level of personal freedom comes a list of responsibilities, all of which are the end user’s responsibility as well.
The goal for Coinkite has always been pretty straightforward, albeit somewhat ambitious: creating an empowering platform and become the Bitcoin version of Craigslist. Collecting Bitcoins online in exchange for services or goods, from anyone in the world, has now become a possibility for both existing and new Coinkite users.
Over the past few years, Coinkite has taken some serious steps in terms of becoming a major player in the world of e-commerce. Not only do they offer an anonymous Bitcoin wallet service, but there are also debit cards, point-of-sale terminals for businesses, Tor support and multi-signature wallets, to name a few things.
Embed HTML Code And Get Up And Running Within Minutes
Setting up Coinkite’s e-commerce solution is rather easy, as all it takes is a few lines of HTML code embedded in your website code. Or for those users who do not own a website just yet, a hosted Coinkite checkout page is at your disposal as well, which can be used through the Tor protocol if needed.
What makes the entire service very interesting is how incoming payments can automatically be split to various Bitcoin addresses. Users can have a portion of each transfer sent to an exchange wallet, for example and convert that funds to fiat currency. Coinkite’s Forward feature gives merchants the option to keep a percentage of every transaction in Bitcoin, without there being a complicated process involved.
Solutions like these can help push Bitcoin adoption to new levels, especially for merchants who were already debating whether or not to accept Bitcoin payments. Having the option to convert to fiat while keeping a small percentage in Bitcoin is a feature many people will appreciate. It will be interesting to see if other Bitcoin e-commerce solution will offer this functionality as well.
Source: Coinkite Blog
Images courtesy of Coinkite, Shutterstock