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Aug 26, 2020

How to Accept Bitcoin, Ether, Stellar Lumens, or Other Crypto Payments with COINQVEST for Shopify

This guide teaches you in a few simple steps how to easily accept Bitcoin, Ether, Stellar Lumens, or other cryptocurrencies in your Shopify store and automatically settle in your national currency.

This guide walks you step-by-step through the integration of COINQVEST with Shopify and explains how to configure the payment settings.

Key Features of the COINQVEST integration with Shopify

  • Accepts Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Stellar Lumens (XLM) and Litecoin (LTC) payments from customers
  • Instantly settles in your preferred national currency (USD, EUR, NGN, BRL)
  • Integrates seamlessly into Shopify - Upon order confirmation, sends an email to the user containing a link to pay the order securely via the COINQVEST checkout page
  • Automatically updates paid orders to paid
  • Sets the product price in your national currency
  • Eliminates chargebacks and gives you control over refunds
  • Eliminates currency volatility risks due to instant conversions and settlement
  • Ensures tax compliance
  • Automatically generates invoices


Screenshot of the Shopify checkout page with COINQVEST payment method selected: Shopify checkout page with COINQVEST payment method selected

Step 1: Create a payment option for COINQVEST

Create a payment option for COINQVEST

  • Login into your Shopify account
  • Go to Settings -> Payments
  • Scroll down in the list of payment providers to section Manual payment methods
  • Click on dropdown menu Manual payment methods and choose Create custom payment method
  • Enter the fields in the popup window as follows:
    • Custom payment method name: This is the payment method name that appears on the checkout page below credit card and Paypal payment options. Enter COINQVEST or Bitcoin via COINQVEST. (Important!: You can customize the name to your liking, but it must include COINQVEST otherwise we will not be able to capture payments). Also, Bitcoin via COINQVEST will be easier to understand for your clients than just COINQVEST.
    • Additional details: Enter a short description for COINQVEST payment method, for example:
      Pay with Bitcoin and other digital currencies (ETH, LTC, XLM, XRP) via COINQVEST
    • Payment instructions: These instructions appear on the order confirmation page and should inform shoppers that they will receive an email to make the payment and finalize the order. Example:
      Check your email inbox now, you will receive instructions to pay this order securely via the COINQVEST checkout page.
  • Click Activate

Step 2: Create a webhook

Create a webhook

  • In your Shopify account, go to Settings -> Notifications
  • Scroll down to Webhook
  • Click Create webhook
  • Choose the following parameters in the popup window:
    • Event: Cart creation
    • Format: JSON
    • URL: https://www.coinqvest.com/api/v1/shopify-order
    • Webhook API version: 2020-07 (Latest)
  • Click Save webhook

Step 3: Create a private app

Create a private app

  • In your Shopify account, click on Apps in the left navigation bar
  • In the URL bar, add /private to the end of the displayed URL. For example, https://yourshop.myshopify.com/admin/apps will become https://yourshop.myshopify.com/admin/apps/private -> see screenshot above
  • Click Create new private app
  • Enter fields as follows:
    • Section App details:
      • Private app name: COINQVEST
      • Emergency developer email: your email or your developer's email
    • Section Admin API:
      • Click on Show inactive Admin API permission
      • In the list, choose Orders and set the dropdown selection to Read and write
  • Click Save

Step 4: Enter Shopify API credentials into your COINQVEST merchant account

Copy Shopify API credentials in COINQVEST account

  • Go to https://yourshop.myshopify.com/admin/apps/private and click on the COINQVEST private app (which you just created in Step 3)
  • Log into your COINQVEST merchant account on www.coinqvest.com and navigate to the Shopify API settings page: https://www.coinqvest.com/en/api-settings#shopify
  • Enter the fields as follows (see screenshot above):
    • Shopify URL: Copy Example URL from your Shopify account to here. Find the Example URL here: Apps -> Private Apps -> COINQVEST (see top left screenshot in the image above).
    • Webhook Signing Key: Go to Settings -> Notifications and scroll down to the bottom of the page. In the Webhook section you will find the key, highlighted in yellow (see bottom left screenshot in the image above).
  • Click Submit

That's it! Now make a test purchase to verify that everything is set up properly.

The Merchant Account on COINQVEST

Manage all payments and customers in your merchant account. You are notified by email about every new transaction.

We Love to Help!

If you have questions, feedback, or improvement suggestions, please feel free to contact us directly anytime.

shopifye-commerce
Stefan Schneider COINQVEST Co-Founder