For accepting Bitcoin payments, activate and complete the ‘Payment Processing’ section under ‘My Profile’ then either create on-the-fly invoices with the ‘Instant Invoice’ option or download and install the WooCommerce plugin (or use the developers pack for hard coded solutions) to take Bitcoin payments in your online shop. Once you’ve set up and activated Payment Processing, Paydefy takes 1% of any sales. You only pay when you earn. Click Here for more info.

For safely sending or receiving Bitcoin using the Escrow option, you can follow the steps outlined Here. Paydefy takes 3.9% of escrow payments.

If you want to take direct On-chain payments which will go into your own personal wallet, you’ll need to get the XPUB for your wallet and connect it with the Connect/Update Wallet option.

You can take direct On-chain payments, Off-chain payments (Lightning Network) or both. On-chain payments go directly to your own wallet whereas Off-chain payments will go to your Paydefy account which you can then withdraw.

Off-chain (Lightning Network) payments are cheaper, almost instant and easier to make for buyers, whereas On-chain payments can take up to an hour (sometimes longer) and cost more due to blockchain network fees and congestion.

You can also start taking Off-chain payments immediately once you’ve set up your account, whereas with On-chain payments you’ll need to connect your own wallet to your processing account. Connecting your wallet with an XPUB poses no risk to the security of your wallet and funds.

Once you start taking payments, you’ll be charged at 1% processing fee of the processed amount. For On-chain payments you will be billed for the amount at the end of the month which must be paid within 7 days. For Off-chain amounts the 1% processing fee is deducted at the time of the transaction and the balance paid into your Paydefy account which you can then withdraw.

On-chain payments go directly to your own wallet whereas Off-chain payments will go to your Paydefy account which you can then withdraw.

The blockchain network transfer fee will be deducted from your withdrawal amount to transfer your withdrawal Bitcoin amount to a crypto wallet of your choosing. Withdrawals are usually processed within 24 to 48 hours on weekdays, but may take longer due to network congestion or other factors beyond Paydefy’s control. A Fastrack option is available for a fee. There may be additional fees levied by your wallet provider or the crypto currency transactions exchange itself.

We impose a minimum withdrawal, after fees, of the equivalent of US$50.

You can take direct On-chain payments, Off-chain payments (Lightning Network) or both. On-chain payments go directly to your own wallet whereas Off-chain payments will go to your Paydefy account which you can then withdraw. If you want to take direct On-chain payment which will go into your own personal wallet, you’ll need to get the XPUB for your wallet and connect it with the Connect/Update Wallet found option under My Profile in the Payment Processing section.

Off-chain (Lightning Network) payments are cheaper, almost instant and easier to make for buyers, whereas On-chain payments can take up to an hour (sometimes longer) and cost more due to blockchain network fees and congestion.

You can also start taking Off-chain payments immediately once you’ve set up your account, whereas with On-chain payments you’ll need to connect your own wallet to your processing account. Connecting your wallet with an XPUB poses no risk to the security of your wallet and funds.

Payers can pay On-chain payments directly from their Bitcoin wallet, Whereas Lightning payments will need to be made from a Lightning enabled wallet. More information on Lightning Network can be found here: https://www.paydefy.com/using-the-lightning-network/

If you want to use Lightning Payments, navigate to the menu item ‘My Profile’ -> Scroll down to ‘Payment Processing’ section -> click on ‘Edit Settings’->click or tap the ‘Advanced Settings’ tab->check the tickbox for ‘Enable Lightning Payments’.

To switch Lightning Payments on or off, navigate to the menu item ‘My Profile’ -> Scroll down to ‘Payment Processing’ section -> click on ‘Edit Settings’->click or tap the ‘Advanced Settings’ tab->check the tickbox for ‘Enable Lightning Payments’.

Please be sure to familiarize yourself with the implications of taking lightning payments first by clicking here: Lightning Payments.

There are no Sign up or Monthly Fees.

Sellers only pay when they make a successful sale at 1% of the processed fee.

For any payments that are processed through Paydefy’s Payment Processing service, a processing fee of 1% on the transaction price will be payable.

For Escrow payments, which incur additional processing and handling fees, the fee is 3.9% of the accepted payment request amount.

You can Download the WooCommerce plugin with this link: https://www.paydefy.com/plugin/jobvirpay-greenfield-for-woocommerce.zip

A step by step process is described at this link: https://www.paydefy.com/bitcoin-payment-processing/

Yes. Once you’ve set up your shop in your Paydefy account, you can use the API to create and process invoices.

The Paydefy API is a REST API. Our API has predictable resource-oriented URLs, accepts form-encoded request bodies, returns JSON-encoded responses, and uses standard HTTP response codes, authentication, and verbs.

You can find the API details here: https://www.paydefy.com/dev-api-help/

Global transactions

There’s no fee or red tape to do transactions across geographic borders. Bitcoin is international and fees and transactions are the same regardless of where in the world you are sending to.

Store of value

Although the Bitcoin price can fluctuate, because there is a limited supply, it still acts as a store of value similar to gold due to their being a willing seller and willing buyer market. So especially for countries that experience depreciation in their currencies, Bitcoin provides an alternative option as a hedge against their local currency devaluing.

You can think of it more as a ‘digital gold’ than a traditional fiat currency such as Dollars. If you owned gold as an investment you’d convert portions of it into dollars to spend as you needed it.

Growing functionality

More and more establishments are accepting Bitcoin, from physical supermarkets to online retailers. So the functional use of Bitcoin is growing every day.

More Privacy

Because Bitcoin transactions take place on the blockchain which is not owned by any central body, your transactions are private. No-one can access your records or ‘spy’ on your activities.

Easier

Once you’ve set up your Bitcoin wallet, transactions are easier than other forms of payment (You just need to scan the QR barcode with your phone).

It’s Cheaper

In most cases, Bitcoin transactions are cheaper than other payment methods as there are no banking fees.

It’s Secure

Unlike many other payment methods such as credit cards or bank accounts, there’s no need for personal information in order to complete any transaction and because it’s not a physical currency, it’s impossible for thieves to fake being the account holder. Cybercriminals can only steal cryptocurrency if they are aware of the private keys for the wallet.

Bitcoin Payments are Mobile.

Bitcoin users can transfer funds from their wallet anywhere that they have Internet access, no need to carry currency with you.

Bitcoin offers a ‘global currency’ payment option as well as a simpler and more private way of taking payments, especially for businesses wanting to protect their earnings from local currency depreciation.

More and more vendors are starting to accept it globally, even in major supermarket chains from Europe to South Africa.

With Paydefy you can:

• Accept Bitcoin and crypto payments on your website for digital or physical products
• Get set up and accepting payments in 5 minutes
• Easily integrate it with Woocommerce, Shopify or PHP directly.
• Take payments in Bitcoin without leaving your website
• Integrate payments into custom coding scenarios
• Enjoy low fees from 1% or monthly subscriptions
• Secure and safe crypto transactions for your business
• Accept Lightning Network Payments

You can connect to the Paydefy payment server and have payments go directly into your Bitcoin wallet.

Yes, in your profile, under Payment Processing is the option for an “Instant Payment’ This button will create a Bitcoin invoice which you can either show to someone on the phone as a QR code or share with someone in a link. Once paid the invoice will display success and (if a Lightning Network Payment) the payment will appear in your transactions tabs.

If you enter an amount, the invoice will only be complete once the full amount is paid. If you leave the amount blank, the invoice will be considered complete if any amount is paid.

Remember that On-Chain Payments can take up to an hour or longer to complete depending on blockchain network activity, whereas Off-chain payments are virtually immediate, usually within a second or two. See the FAQ section on On-chain / Off-chain payments for more info.

It’s recommended to use Lightning Network Payments for Immediate Payments as you’ll be able to see if the payment was confirmed immediately.

Yes, currently were are in beta testing and only setting up Shopify accounts via email requests. However, full functionality will be available in your Payment Processing Profile soon.