Best way for implementing a Bitcoin Wallet for my business

[gast_23]

Hello,

I am resorting to this forum to get an answer and experiences from professional people in the sector, rather than going to any video on the net.

I would like to create the wallet to receive payments in cryptocurrencies from my web design agency

In your experience, what is the most secure way and provider to do this? What are the commissions I can expect?

As a crypto investor, I am also interested in generating wealth outside of FIAT currencies.

Thanks in advance.

[RickDeckard]

In your experience, what is the most secure way and provider to do this? What are the commissions I can expect?

If you're really looking for the most secure way to provide this option for your customers then you will have to look for self-hosted bitcoin payment services. This basically means that you are able to run them on your server thus giving you full control of the process (and most importantly - the funds). The commissions will vary according to the processor that you end up choosing, but most of them are fee-less. I could go on telling you about other options but I don't believe I'll make it so clean and comprehensive as this GitHub page[1]. I'm sure that you'll find a processor that fits your needs in that list - Judging by your criteria I would say that BTCPay is a serious contender for the title.

Whatever you do I would highly ask you not to consider BitPay as a payment processor - they have implemented KYC procedures and the way they work or get triggered is really ambiguous (and that is even scarier than just asking KYC for every customer since you'll never know when you'll get it by it). Here's an excerpt from their FAQ to sustain my point of view:

Why do I need to verify with Onfido?

Payments ≥ 3000 USD or refunds ≥ 1000 USD require users to provide additional verification (verification requirements may differ by region and/or amount) by obtaining a BitPay ID.

Business users who wish to make payments or receive refunds within these thresholds must complete ID verification as individuals.

Whenever I look I'm not able to find these "verification requirements that differ from region / amount " so you're basically playing (or your customers) the wheel of fortune - regarding being hit with KYC needs - whenever you use the service. As for a recent practical example I know that OmegaStarScream wanted to buy a HW using BitPay and it was asked to complete an identification process[3] even though the amount is way less than 3000 USD...

Conclusion: If you want the best payment processor for your shop - considering your criteria - just choose one of the processors within the "Self-Hosted Bitcoin Payment Processors" category in the GitHub page that I've shared before and you're all set.
[1]https://github.com/alexk111/awesome-bitcoin-payment-processors/#readme
[2]https://support.bitpay.com/hc/en-us/articles/360030710712-What-is-BitPay-ID-verification-What-documents-are-accepted-
[3]https://bitcointalk.org/index.php?topic=5366877.msg58326739#msg58326739

[Pmalek]

A few questions about your web design services.

Do you have a lot of clients? Do you work with multiple clients at the same time or do you take one project from one party, work on that, and once you finish, you do something else?

RickDeckard suggested BTCPay, and there is nothing wrong with that suggestion. It's the most recommended service provider you will hear around here. However, if you work with one client at a time, you really don't need third-party payment services. You could just purchase a hardware wallet, connect it with Electrum, and send each client a new address to pay to. The hardware wallet safely stores the private keys for you, and you use Electrum's addresses tab to copy addresses were you will receive your payments.

However, if you are working with multiple parties and you have colleagues who do the same, opting for something like BTCPay does make more sense.   

[uchegod-21]

I use a simple method but I don't know if is 100percent save. Someone should correct me if is not.
I use coinbase payment.

Code:

Coinbase commerce => create checkout => I put all my product information e.g description, price => I upload my product image => they generate code for me => I use it to embed in my website

However, if you work with one client at a time, you really don't need third-party payment services. You could just purchase a hardware wallet, connect it with Electrum, and send each client a new address to pay to. The hardware wallet safely stores the private keys for you, and you use Electrum's addresses tab to copy addresses were you will receive your payments.

This is what I was doing, but I do not use hardware wallet or connect it to Electrum. This method is good and secure if you want only you to control everything about your business payment.

As a crypto investor, I am also interested in generating wealth outside of FIAT currencies.

If you are crypto investor you are generating wealth outside of FIAT currencies already. Which other wealth you want to create.

Also if what people reply you above have help you. You can come back and comment and they will know that their comments help. But if you are finding difficult you can come back and comment and more help can come don't be silence.

[HCP]

I'd have to agree with Pmalek... it really depends on how big your business currently is, and how big you think it might grow. If the number of clients you have is measure in single or double digits, then you can probably get away with simply using a "standard" Bitcoin wallet (like Electrum or Bitcoin Core), possibly with the use of a hardware wallet if you think that you'll be getting hundreds or thousands of dollars worth of income. Hell, buying a hardware wallet would probably be tax deductible!

However, if your agency has hundreds of clients, you might be better off using a payment processor of some description. Whether you want to go for a "zero fee" self host solution or pay ~1% fee to something like Coinbase or other commercial payment gateway would be something you would need to decide based on your particular circumstances. Do you have the knowledge/skillset/equipment/bandwidth to be able to setup and maintain a full node and payment gateway like BTCPay Server? Do you have the time? Is 1% low enough of a cost for the convenience of not having to deal with it?


If you're currently small, but plan on getting big, you can always start with a simple wallet, and upgrade later as you expand. You're not really tied into anything permanently.

[hugeblack]

In your experience, what is the most secure way and provider to do this? What are the commissions I can expect?

In addition to how big your business  and number of people who may use crypto payment option, what is your technical background? If you do not have technical knowledge, small budget or do not trust a good developer, there are third party applications that can offer this option.

you can check ---> Awesome Bitcoin Payment Processors

Finally Avoid Google to get so suggestions, most of the assessments and articles on the first page are paid.