The popularity of Bitcoin payments on online platforms is on the rise, with a growing number of businesses embracing this payment option each day. Not only is it more technologically advanced it gives merchants the freedom to perform secure, private, global transactions without any middlemen, and merchants get to tap into a whole new global market of crypto users increasing their customer base.

For online store owners looking to incorporate Bitcoin payments, there are numerous services with varying features that can facilitate this process, hence its pivotal that merchants choose the right payment gateway that fits the needs of their business.

In this article, we will explore Blockonomics, a service dedicated to helping online merchants accept Bitcoin. We’ll examine the range of services and features provided by Blockonomics and how they assist in Bitcoin integration for e-commerce.

Product and Services

Blockonomics is a bitcoin payment service that lets you accept bitcoin payments online whether its an eCommerce store, website or even messages. To accept bitcoin payments they offer 3 main services:

• Payment Gateways
• Payment Buttons/Links
• P2P Invoice

Accepting Bitcoin Payments

Payment Gateways:

A bitcoin payment gateway allows online merchants to accept bitcoin payments on their website.

Bitcoin Payment gateways are available in the form of plugins for a variety of online stores, namely:

• WooCommerce (WordPress)
• WHMCS
• PrestaShop
• Easy Digital Downloads (EDD)
• OpenCart
• Shopify
• SquareSpace
• Thirty Bees
• Payment API (can be used on a custom web-shop)

Payment Screen Demo: Blockonomics

Payment Links/Buttons:

Payment Links are URL’s users can share easily with anyone online to receive payments.

Payment Links Example

It is one of the easiest forms of payment gateway that anyone can use, its biggest benefit being its sharability. They can be embedded to websites, forms, and even shared via text messages.

Peer-2-Peer (P2P) Invoice:

P2P invoice allows users to send bitcoin invoices to their clients and receive payments to their bitcoin wallet.

Some of its salient features include:

• Dynamic Price Updates
• Ensures that the proper amount is sent
• Anonymous
• Safe and Secure

Bitcoin Invoice Page: Blockonomics

Blockonomics Salient Features:

1. No Middleman: All the payments made are directly sent to the wallet of your choice.
2. No KYC/AML: Unlike most payment gateways, Blockonomics does not require its users to submit identity documents thus safeguarding their privacy.
3. Installation takes 2 minutes: The whole process to install the plugin is very simple and straightforward.
4. Complete checkout happens on the same website: Majority of payment plugins redirect the users to an external page to complete the checkout process. With Blockonomics the whole process takes place on your website adding an additional layer of security.
5. 24X7 customer support via live chat, support portal and community.
6. Altcoin Support: In addition to Bitcoin, the plugin supports the option to pay with Bitcoin Cash (BCH).
7. All major bitcoin wallets supported: The plugin supports all major soft and hard bitcoin wallets including, Ledger, Trezor, MyCelium, Exodus, blockchain, etc.
8. Segwit compatible
9. Secure and safeguarded transactions

Pricing:

Blockonomics offers a combination of both Free and Paid services. P2P Invoicing is a free-to-use service, while the paid plan includes plugins and payment buttons/links. The pricing structure for these services is as follows:

For each transaction processed through Blockonomics, a fee of 1% is charged. However, the first 20 transactions are exempt from any fees. It’s important to note that Blockonomics does not hold your funds at any point. Therefore, the payment fee is covered by maintaining a sufficient credit balance in your account.

If your account’s credit balance becomes low, your service will not be interrupted or blocked. Instead, Blockonomics grants a 30-day grace period during which you can reload your account and fulfill the payment requirement.

Support:

The plugin provides round-the-clock support through multiple channels, including Community, Support Tickets, and online chat.

Additionally, a wealth of support articles and videos are regularly published to assist customers. You can expect a prompt response and dedicated assistance to address your queries effectively.

Verdict:

Blockonomics presents a wide array of services and features tailored for individuals, entrepreneurs and businesses seeking to utilize Bitcoin as a payment method. These services are designed to be highly user-friendly and require minimal setup time, making them suitable for both technical and non-technical users. However, it is important to note a few areas where Blockonomics may have some limitations:

1. Limited Altcoin Support: Blockonomics has a restricted range of support for altcoins, with the only option of Bitcoin Cash [BCH]
2. Lack of Crypto-to-Fiat Conversion: Blockonomics does not offer built-in support for converting cryptocurrencies to fiat currencies.
3. Basic Product Customization: Certain features such as payment links/buttons in Blockonomics are relatively basic and provide limited options for customization.

Despite these shortcomings, Blockonomics remains an good choice for individuals seeking to accept Bitcoin payments on their websites directly, without involving any intermediaries.

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