If you run a business, there’s no way you can accept payment without the help of a payment processor unless you do business strictly on cash. To accept Visa, Mastercard, Amex, or Discover supported debit or credit card; you must use a Point of Sale (POS) terminal provided by either your bank or a third party such as Square. However, the options are endless, and setup methods are easy.
On the contrary, if you want to accept Doge crypto for your business, you have minimal options, and the process is not that straightforward.
There are several ways you can accept Dogecoin for your business. However, every Doge payment form has some drawbacks. We will discuss a few of them below. Choose the right method that suits you.
Note: Up until October 2020, Etsy allowed sellers to accept manual payment. Thus, many shop owners took Doge as a form of payment. Unfortunately, Etsy discontinued it. Now, every transaction must go through Etsy payments which do not accept Dogecoin.
Official Doge Wallet:
It is the easiest and most secure way to accept Doge. There’s no intermediary in these transactions. Customers directly pay you Dogecoin. Here are the steps:
- Visit the official Dogecoin website: https://dogecoin.com/
- Depending on your computer OS, download the Doge Wallet. We recommend you download the MultiDoge – Dogecoin light wallet. It’s because the Dogecoin Core is painfully slow to set up and takes a lot of space on a computer. As you are a business owner, not a miner, you don’t need Dogecoin Core. Furthermore, mining Dogecoin on a laptop or consumer PC is unprofitable, and it will harm your computer. Therefore MultiDoge is more than enough.
- Install and Run MultiDoge on your computer. When you run this application for the first time, wait a few hours before your wallet synchronizes with the Doge network. Please don’t proceed until synchronization is complete; otherwise, your transactions could be lost forever. To check the progress, click on View -> Messages.
- On the application, click on the File -> New Wallet.
- Give a name to your new wallet and save.
- On the MultiDoge dashboard, click on the “Request” tab.
- Give your wallet address to your customer (online or offline) and ask them to send Dogecoin to your wallet.
If you have a brick and mortar store, you can do the following additional steps to accept DOGE easily through MultiDoge:
- Click on the “Request” tab.
- Enter the “Amount” your customer should pay you in DOGE.
- MultiDoge will generate a QR code with all the information necessary, such as your wallet address, payment amount, etc.
- Click on the magnifying glass icon.
- Show the QR code to your customer. The customer will scan the QR code. If your customer already has the Dogecoin app or other supported wallet in his or her phone, it will automatically transfer all the data to that app.
Here is a tip. You can add a second monitor with your laptop or computer. The second monitor will face your customer. After generating the QR code, click on the magnifying glass icon on top of the QR code, and then drag your QR code window onto the second monitor. Thus, your customer would not see any sensitive information on your computer screen except what you want them to see on the second monitor.
However, there are several drawbacks. This method is manual, not scalable, and tough to track. Here are a few examples of these problems.
- If you share the same wallet address with every product purchaser, how will you track who paid you? You can ask the sender’s address to confirm payment matching, but it’s slow and not scalable if you make hundreds of sales each day.
- For fast in-store sales, such as gas stations, payment can take up to 1 minute to clear. This delayed transfer will slow down your business for sure.
Similar to traditional payment processors such as Square, Bitpay processes cryptocurrencies for individuals and businesses.
There are various other crypto processors, but Bitpay is the oldest, most popular, most trusted, and secure cryptoprocessor globally. It’s also a US company. (We are NOT affiliated with them in any way).
The primary benefit of Bitpay is that you can accept Dogecoin without buying, owning it. Bitpay will accept Doge and convert it to USD or your local currency. On the next business day, they will transfer your balance to your bank account through ACH.
If your business is moderately significant, you should use Bitpay.
The only problem with them is they exclusively accept cryptos. They don’t process debit or credit cards.
Open Source Alternatives:
If you have a WordPress website, you can use the open-source plugin:
https://nomiddlemancrypto.io/ to accept Dogecoin. It’s easy to use and has many useful features. This plugin also solves all the problems that arise with the official Doge wallet.
In your physical store, you can host a CoinFlip ATM. CoinFlip ATM allows everyone to buy and sell Bitcoin, Ethereum, Dogecoin, etc. By hosting a CoinFlip ATM, you can indirectly accept Dogecoin. It may also increase foot traffic in your store.
There are many other ways you can accept Doge for your business. We only described a few of them here whom we trust. You can also consider these crypto processors: