Top 5 Bitcoin extensions for Magento

Today #Magento is a leading e-commerce platform of choice developed exclusively for online stores. Its rich functionality allows to control content and design of the online store, provides online merchants with a flexible shopping cart system. It is an open source for creating responsive e-commerce websites with editions ranging from community open source to massive, large-scale enterprise SaaS based systems. Magento platform empowers over 200,000 online retailers to date and chosen by 1 of every 4 online businesses. Such demand is connected with those advantages that you fail to find in other platforms.

The Enterprise Edition of Magento represents high-performance option for fast-growing and large businesses and offers a lot of extensions. Each of them is a block of PHP code – a combination of functions added into Magento to extend its functionality.

These extensions are developed through a broad network of Magento partners to provide you with the flexibility to maintain your store the way you want. The power of functionality can be applied to every area of your Magento store including the front and back end, integrations with other web services, marketing tools, themes and so on.

Module is like a guide for any action on the site including settings, database schemas, database date, objects rendering, utility helpers, action controllers and so on. All these can underlie in one extension but there are modules that contain only part of them.

You can find a great variety of these free and paid modules on Magento Connect catalog.

Bitcoin as a benefit for you and your customers

As you are one of those who work in or just keens on modern information technologies such issue as Bitcoin is well known for you. It is the world’s first fast growing successful cryptocurrency that is accepted more and more by e-commerce stores around the globe. In fact, Bitcoin has surpassed the market cap of $50 billion, whereas the combined value of cryptocurrencies is now well over $100 billion. Businesses adapt to the changes in contemporary digital transactions because of the many advantages of the cryptocurrencies. If you are an e-commerce store owner you should start accepting Bitcoin on your online store too. Why? Let us figure it out.

One of the main advantages of Bitcoin is low transaction fee which is 1% while PayPal or credit card payments typically include a transaction fee of 3% to 5%. The second one is that a transaction made through Bitcoin is similar to that of a payment made through a physical currency so it means there is no threat of chargebacks.  What is more, Bitcoin payment information always stays secure while in case of a credit card purchase the CC number transmitted by the customer can be used for ‘black’ transactions.

Now there is no doubt that Bitcoin is a very useful feature for your Magento store.

You can integrate Bitcoin payment method in your store easily within a few minutes and you don`t need any programming skills for that. All that is required is to find a proper Bitcoin Magento extension and install it.

Our Ikantam team prepared for you 5 Top Extensions for Magento that can provide your online store with Bitcoin payment module.

CoinGate Bitcoin & Altcoin Payments extension allows you to integrate Bitcoin payments seamlessly into your existing online store. Customers will be able to pay for your goods and services with cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Dash, and Ripple, among 50+ other Altcoins.

Look through the features of this extension:

• The gateway is fully automatic;
• No matter what currency you use – payment amount is calculated using real-time exchange rates;
• Customers can pay invoices with Bitcoin, Litecoin, Dash, Ripple and 50+ other cryptocurrencies;
• Sandbox environment for testing with Testnet Bitcoin;
• In case of unsuccessful payments refunds are issued directly from the invoice;
• No chargebacks – guaranteed;
• 1% fee for processed orders;
• No setup or recurring fees;
• No hidden charges to you or your customers;
• The possibility of the extension of your invoice expiration time;
• Accept slight underpayments automatically.

To be able to use the plugin you have to create an account on https://coingate.com. You can also find visual guide for installing the Bitcoin and Altcoin payment extension on your Magento store.

Skrill Hosted Payment Solution provides a secure hosted payment form without PCI compliance. This extension allows merchants to view payment`s status information and configure which payment methods are shown to customers. Merchants can also refund payments from within the Admin interface.

The features of Skrill extension:

• Free and quick setup;
• 9% + € 0.29* fee structure per transaction;
• The possibility to connect with 30+ million Skrill account holders;
• Anti-fraud standards;
• Immediate payments by more than 100 local payment methods with 1 easy integration;
• Additional payment options;
• The possibility to customize gateway with redirect functionality;
• Transaction status viewing;
• Refund capability within Magento;
• Customers are not required to sign-up to make payments;
• Internationally trusted brand.

All you need to do is to enter your merchant ID, merchant email, add secret word and API password and enable the module. Find more information about Skrill on its official website.

With Mollie you can also provide online payments with all major payment methods so you can expand your customer base internationally through a single integration. Let us find out the benefits of Mollie payments:

• Fast creation of your personal Mollie account;
• Pay only for successful transactions without any hidden fees;
• 3-D Secure and free machine learning fraud protection;
• By virtue of streamlined checkout all you need is to choose your preferred payment method without redirection to external pages;
• Issue refunds from the Magento backend, partial and extra refunds;
• The possibility of instant exporting all the insights you need for every kind of accounting software.

You can find more information about this pricing model here and create an account here.

NetCents company provides a next-gen online payments processing platform and released the phase one of a new NetCents plugin for the open source e-commerce Magento platform. The completed NetCents plugin along with NetCents’ Payment Gateway accepts Bitcoin and Ethereum digital currencies apart from credit cards and fiat currencies.

The company is registered with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC) as a Money Services Business (MSB) and its technology is also integrated with the Automated Clearing House (“ACH”), ensuring consumer privacy and security.

The NetCents platform is a simplified and secure bridge that utilizes innovative Blockchain Technology to allowing merchants to easily migrate from cash to new digital currencies. The company strives to streamline and enhance the user experience for people making online payments.

You can find more information about NetCents company here.

SpectroCoin company also presents its Magento Bitcoin Payment Gateway Plugin Integration giving a secure method of Bitcoin payment processing for your business and your customers who will be able to transact and pay in their preferred currency. The extension`s features include risk-free solution to avoid bitcoin price volatility, low payment processing fees and simple integration through bitcoin payment API or shopping cart plugins. They offer bitcoin payment gateway modules for Magento, WooCommerce, PrestaShop, Opencart, Drupal, WHMCS, and other platforms.

Watch the tutorial about the process of integration of SpectroCoin Bitcoin Merchant into your Magento. You can also learn more about SpectroCoin company here.

Take full advantage of the possibility to upgrade your e-store and lure more customers. Together with the rich #Magento functionality extensions allow us to solve a lot of tasks without programming skills.