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Jun 16, 2020

How To Accept Cryptocurrency Payments with COINQVEST for WooCommerce

This guide walks you through installation, configuration, and operation of the COINQVEST WooCommerce payment gateway. Learn how to easily accept payments in Bitcoin, Stellar Lumens or other cryptocurrencies in your WooCommerce shop and automatically settle in your national currency.

This guide walks you step-by-step through the installation of the COINQVEST WooCommerce plugin and explains how to configure the payment settings and translate the plugin.

If you are looking for the WordPress plugin without WooCommerce integration, find it here.

Key Features of the COINQVEST WooCommerce Plugin

  • 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, CAD, NGN, BRL).
  • Integrates seemlessly into WooCommerce
  • Automatically updates orders to processing (physical goods) or completed (downloadable/virtual items) when payment is completed
  • Adds COINQVEST Payment Details fields (Checkout Id and Payment Id) to the WooCommerce order details and a direct link to the payment details page on www.coinqvest.com
  • 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
  • Translates the plugin into any required language


Screenshot of the COINQVEST payment method on the checkout form: COINQVEST Payment Method Display on Checkout Form

Step 1: Installation

Requirements

  • A COINQVEST merchant account -> Sign up here.
  • Complete your account master data here.

Plugin installation

Use the WordPress Plugin Search and enter “COINQVEST” into the "Search plugins” field. Once the COINQVEST plugin shows up, press the Install now button and the Activate button afterwards:



Alternatively, download the plugin from the WordPress Plugin Directory and install it manually by uploading it to your WordPress website.

Once installed, COINQVEST is available as a payment method on the WooCommerce payments tab which is located here: WooCommerce -> Settings -> Payments. Click on the Manage button to open the settings page.

Step 2: Plugin Configuration

Maintain your API credentials and a few global settings on the COINQVEST WooCommerce settings page:

  • Get your API key and secret from your COINQVEST merchant account.
  • Enter API Key and API Secret.
  • Select Settlement Currency: The currency you're credited in. If you don't choose a currency here, the settlement currency is the billing currency.
  • Return URL, Cancel URL, and Webhook URL are automatically generated.
  • Enable/disable Debug Log: The path to the log file is displayed. Helpful to log API requests and responses.

COINQVEST Payment Method Settings

Step 3: WooCommerce Configuration

  • Go to WooCommerce -> Settings -> Tax and tick the Rounding checkbox (Round tax at subtotal level, instead of rounding per line). This ensures that the calculated amounts on the COINQVEST hosted checkout page are identical with the amounts displayed on the WooCommerce checkout page.
  • To be tax compliant and for automatic invoice generation, the following fields in the checkout form must be provided: First name, Last name, Email, Address, ZIP, City, and Country. These fields are mandatory on the WooCommerce checkout form, but if you customized these fields, take note.

The Merchant Account on COINQVEST

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

Translation

We recommend using the Poedit software for translation-related purposes. To translate the plugin to your language, please follow these steps:

  • Download and install Poedit
  • Navigate to the plugins/coinqvest-for-woocommerce/languages/ folder and copy the .pot file to your desktop for editing
  • Open the .pot file and create a new translation for your language
  • Translate all text strings
  • Save your translations as a ".po" file. Make sure to follow the correct naming convention which is e.g. for German language coinqvest-de_DE.po
  • Saving automatically generates a coinqvest-de_DE.mo file
  • Copy the .po and .mo files into the plugins/coinqvest-for-woocommerce/languages/ folder

We Love to Help!

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

woocommercewordpresspayment gateway
Stefan Schneider COINQVEST Co-Founder