This crypto payments merchant FAQ answers the 15 questions store owners ask most before they start accepting Bitcoin and stablecoins, covering fees, taxes, volatility, refunds, confirmations, security, and setup. Short version: you do not need deep crypto knowledge, CryptoGate takes 0% per transaction on a flat monthly plan with no KYC, funds settle to your own wallet, and there are no chargebacks. The detail is below.
1. Do I need to understand crypto to accept it?
No. You need a wallet address (a string of letters and numbers) and an API integration. The payment gateway handles blockchain monitoring, rate conversion, and confirmation logic automatically.
2. What happens if crypto prices crash right after a payment?
For volatile coins (BTC, ETH), there is a window of exposure between when the customer pays and when you convert to fiat. To eliminate this risk entirely, accept USDT or USDC stablecoins, whose value does not change. Alternatively, set up automatic conversion through an exchange immediately after each payment confirms.
3. Can customers get a refund?
Yes, but you initiate it manually. Crypto transactions are irreversible, so you cannot pull money back; you send a new outbound transaction to the customer's wallet. This is a feature, not a bug: you control the refund process rather than a bank forcing a reversal.
4. What if the customer sends the wrong amount?
The payment session is marked as partial. You decide whether to accept it, contact the customer to top up, or issue a refund. CryptoGate notifies you via webhook with the exact amount received.
5. Is it legal to accept crypto?
In most countries, yes. Accepting crypto as payment for goods and services is legal in the US, EU, UK, Canada, Australia, and most of Asia. There may be reporting requirements; consult a local tax advisor for specifics.
6. Do I need to do KYC to accept crypto?
Not with non-custodial processors like CryptoGate. KYC is required by custodial processors and exchanges because they hold funds on your behalf. Since CryptoGate sends funds directly to your wallet, it does not require identity verification to process payments.
7. How long does a payment take to confirm?
USDT and USDC settle in seconds to a couple of minutes depending on the chain. Bitcoin: 10-60 minutes for 1-3 confirmations. Ethereum: 15 seconds to 5 minutes depending on network conditions. Most merchants wait for 1 confirmation before fulfilling orders.
8. What is a webhook and do I need to set one up?
A webhook is an HTTP request your server receives when a payment confirms. Yes, you need one to automatically update orders. It is a single endpoint in your application that takes about 20 lines of code to implement.
9. Can I accept crypto on a Shopify or WooCommerce store?
Yes. WooCommerce has a direct plugin and Shopify works via a checkout app. See our Shopify crypto payments guide and our WooCommerce crypto setup guide for step-by-step instructions.
10. What coins should I accept?
Start with a stablecoin (USDT or USDC) and Bitcoin. That covers the majority of crypto users. Add Ethereum, Litecoin, and others over time as you see customer demand. Do not try to support a dozen coins from day one.
11. What are the fees?
CryptoGate charges 0% per transaction on a flat monthly plan: no percentage taken, no setup fee. The customer also pays a small on-chain network fee (a few cents to a few dollars depending on the coin and network). Compare this to 2.9% + $0.30 for cards, plus chargeback fees, plus per-transaction gateway cuts. See our crypto payment gateway fees guide for the full comparison.
12. Do I need a separate checkout page?
No. CryptoGate generates a hosted payment page for each transaction. You redirect the customer to that page after they choose crypto at checkout. When payment confirms, they are redirected back to your order confirmation page.
13. What happens if my customer's payment arrives after the session expires?
The gateway detects the late payment and notifies you via webhook with an expired status and the amount received. You can then manually decide to fulfill the order or refund it. Late payments are not lost; they are flagged for your review.
14. Can I test without spending real crypto?
Yes. CryptoGate has a sandbox mode that simulates the entire payment flow without touching any real blockchain. Use it to test your integration end-to-end before going live.
15. How do I handle taxes on crypto payments received?
In most jurisdictions, crypto received as payment for goods is treated as ordinary business income at the fair market value on the date received. Keep records of each transaction (amount, coin, USD value at time of receipt). Stablecoins like USDT and USDC simplify this since their value is always about $1. Consult a tax professional for your specific situation.
How CryptoGate Compares for Merchants
| Provider | Per-transaction fee | Chargebacks | KYC to accept |
|---|---|---|---|
| Stripe / PayPal | 2.9-3.5% + fixed | Yes | Yes |
| BitPay / Coinbase Commerce | ~1% | No | Yes (custodial) |
| NOWPayments | 0.5-1% | No | Varies |
| CryptoGate | 0% (flat monthly plan) | No | No |
Still deciding? Read how crypto payments eliminate chargebacks or, when you are ready, create a free CryptoGate account.
Frequently Asked Questions
How much does it cost a merchant to accept crypto payments?
With CryptoGate the gateway fee is 0% per transaction on a flat monthly plan, with no setup fee. The only other cost is the on-chain network fee the customer pays, from a few cents on Litecoin to a few dollars on Bitcoin. This is well below the 2.9% plus 30 cents that cards typically charge.
Do I need KYC or a licence to accept crypto as a merchant?
Not with a non-custodial gateway. Because CryptoGate never holds your funds and settles directly to your wallet, it does not require identity verification to process payments. Custodial processors that hold money for you do require KYC.
How do refunds work if crypto cannot be reversed?
You issue a refund by sending a new transaction to the customer's wallet. There is no chargeback mechanism, so refunds are entirely your decision: full or partial, whenever you choose, with no bank forcing a reversal.
How do I deal with price volatility?
Accept stablecoins like USDT or USDC, which stay near one dollar, or convert volatile coins to fiat on an exchange right after each payment confirms. Either approach removes the price swing between payment and settlement.
How are crypto payments taxed for my business?
In most jurisdictions crypto received for goods or services is ordinary business income valued at its fair market price on the date received. Keep a record of amount, coin, and USD value per transaction, and consult a local tax professional.
Can I accept crypto on Shopify or WooCommerce?
Yes. WooCommerce has a direct plugin and Shopify works through a checkout app, both walked through in our platform integration guides. Start with a stablecoin and Bitcoin, then add more coins as demand grows.