Blockonomics Implementation Guide: Accept Crypto as a payment method in the Caribbean.
Welcome to the how-to guide for implementing Blockonomics within the Caribbean. For a complete overview of all solutions and more guides: CBN Medium
Guide on implementing Blockonomics plug-in Wordpress
In this guide, another option to accept Bitcoin for your online web shop is explained. This is the guide on how to implement the Blockonomics plugin inside your ecommerce WordPress website. To implement the Blockonomics plugin you need the following requirements:
- Wordpress website
- Email account
- Bitcoin wallet (that provides an Extended public key)
- Some Bitcoin(Sats) to credit your account after the 10 free bitcoin transactions.
Step 1: Download Blockonomics plugin
To download the Blockonomics plugin you want to be on your WordPress admin dashboard page and go to the plugin tab > Add New.
Now you want to search for “Blockonomics” in the search bar on the top left of your screen. Once you see the Blockonomics plugin option click “install Now” such as shown below:
Once installed click on “Activate”
Now you have completed the first step!
Step 2: Creating a Blockonomics merchant account
Before you can use the installed Blockonomics plugin you have to first create a free Blockonomics account. After you have Activated the Blockonomics plugin click on the pop-up link “On this page”, presented at the top of your WordPress plugin page:
This link will take you to the Blockonomics plugin settings page. Once you are on this page you will see another link “Blockonomics Merchant” click this link.
This link will take you to the Blockonomics website where you can create your free Blockonomics merchant account. Once you are on the Blockonomics home page click on the gold button “Get started for free”:
This will take you through the process of creating a Blockonomics account. Use a secure email and a strong password and click “register”:
Find the verification code inside your email inbox. if it is not there check your spam or junk box copy and paste the code inside the presented text box and click “Go”:
Good! Now you have completed step 2!
Step 3: Adding your Bitcoin wallet
Now that we have downloaded the WordPress plugin and created a Blockonomics account we can add your Bitcoin wallet extended public key (xpub) inside your Blockonomics account. You can do this by going inside each of the recommended wallets that have an extended public key such as, Airbitz, Bitcoin wallet (Android), Blockchain.info, Copay/Bitpay/Bitcoin.com, Electrum, exodus, Ledger, Mycelium, and Trezor.
Step 4: Pair plugin with Blockonomics account
Once you have added your xpub key you can now see your API key. Copy it.
And paste it in the API key textbox inside the blockonomics settings page on WordPress as shown in the image below.
Now click “Save” this will pair it with the WordPress Blockonomics plugin. After you saved it click “test setup” to make sure everything is running perfectly.
Now it is all done and you can accept online payments with Bitcoin!
Extra Notes: Blockonomics has recently stopped accepting Alt-coins payment options due to Shapeshift adding KYC/AML procedure. This means you should disable the “Accept Altcoin Payments” in the Blockonomics plugin settings of your WordPress. Furthermore, You can use your Wallet Watcher account and all of our API features or plugins for 10 free transactions. After that, you will need a positive credit balance to continue using the Blockonomics API.
Some common questions answered:
How do I load my credit balance?
Just scan the QR code image on your specific credit balance page with any regular Bitcoin mobile wallet. If you are using a desktop wallet, just click on that QR code for the same effect. If necessary you may copy/paste the Bitcoin address into a separate wallet as well. Send whatever amount you are comfortable with.
You can load any amount you wish depending on the volume of BTC you expect to receive through our service. Even just 10 USD worth of bitcoin will pay for 1,000 USD in revenue (more if bitcoin appreciates in price, less if it declines).
IMPORTANT: This guide is intended for small business owners who wish to help promote Bitcoin by accepting it as payment for goods and services in the Caribbean region. It’s written with the assumption that you operate a regular business that sells goods or services for regular national currency, and that you wish to accept Bitcoin as another legal way to pay, and that you intend to pay taxes on your Bitcoin income just like any other income.
Blockonomics. (2018, August 10). How to Accept Bitcoin on Wordpress [Video file]. Retrieved September 15, 2018, from https://www.youtube.com/watch?v=Kck3a-9nh6E
Scott (2017, December 20). Pricing and Credit Balance Questions. Retrieved September 15, 2018, from https://blockonomics.freshdesk.com/support/solutions/articles/33000208618-pricing-and-credit-balance-questions