11 good reasons for Bitcoin-Lightning payment

Posted on June 28, 2024 by Sebastian Paulke

11 good reasons for Bitcoin-Lightning payment

No payment system is simpler, easier to implement and more limitless for users than Coinsnap Bitcoin – Lightning Payment. See here 11 good reasons for Bitcoin – Lighting payment from the perspective of an online store operator:

1. Expansion of the customer base

By accepting Bitcoin, merchants can appeal to customers who prefer or exclusively use cryptocurrencies. This expands the potential customer base and can lead to additional sales.

2. Lower transaction costs

Bitcoin transactions with Coinsnap are very favorable compared to traditional payment methods, especially credit cards, as Coinsnap only charges one percent (1%) of the invoice amount for payment processing. This can be particularly advantageous for international transactions, as there are no currency exchange fees.

3. Faster transactions

Bitcoin – Lightning transactions are processed by Coinsnap almost in real time. This is advantageous for merchants and customers who prefer fast payment processing.

4. No chargebacks

Bitcoin transactions are irreversible. This protects merchants from chargebacks and fraud, which can occur more frequently with credit card payments.

5. Decentralized currency

Bitcoin – Lightning is a decentralized payment method that is not controlled by any government or institution. The Coinsnap payment method is available to merchants anywhere in the world, regardless of their business model. Whether in Andorra or Zambia – with Coinsnap, merchants sell their offers to anyone who wants to buy them with Bitcoin (without cumbersome preliminary checks by a payment provider or limits for the customer).

6. Internationalization

Bitcoin – Lightning allows merchants to easily sell internationally without having to worry about currency exchange or different payment methods in different countries.

7. Marketing benefits

Offering Bitcoin – Lightning payment can be perceived as innovative and modern and can therefore be used as a marketing tool to attract technology-savvy customers.

8. Protection against inflation

Bitcoin is often seen as a hedge against inflation. Traders who hold Bitcoin could also benefit from a long-term increase in the value of the cryptocurrency.

9. Data protection and security

Bitcoin – Lightning payments do not require customers’ personal information, which increases privacy and reduces the risk of identity theft. In particular, customers who are afraid of this feel more secure and more inclined to make a purchase.

10. Diversification of payment methods

By integrating Bitcoin – Lightning as a payment method, merchants diversify their payment options, which can increase resilience to outages or issues with traditional payment providers.

11. No hurdles for end users

In contrast to providers such as bitpay, coinbase, crypto.com etc., Coinsnap is “barrier-free”: Payers can pay with all Bitcoin and Lightning wallets, including those from bitpay, coinbase and crypto.com. Only the merchants need a Lightning Wallet for the credit.

Coinsnap: Bitcoin – Lightning payment for many applications

Coinsnap payment modules are available for the most important, most frequently used store systems and WordPress applications. And more are being added all the time.

See all available Bitcoin payment modules at a glance: Coinsnap modules

Accept Bitcoin (on-chain and Lightning) in your online store in minutes

Coinsnap enables merchants to accept Bitcoin (on-chain and Lightning) in their online stores in minutes. With just an email address and a Lightning wallet, you can set up your account and start receiving payments directly in your wallet or in euros via a settlement partner.

1. Set up your personal Coinsnap account

Click Sign In in the top menu, enter your email, confirm it, and add your Lightning wallet. You’re then ready to receive Bitcoin payments directly in your wallet.

How to open a Coinsnap Account (step-by-step)

2. Install a module right from the WordPress repository

All Coinsnap plugins for WordPress are listed in the WordPress plugin repository and can be installed with just a click. If you use another system, you can download the Bitcoin payment module from the platform’s extension store or from the Coinsnap GitHub page.

How to install a Coinsnap WordPress plugin (step-by-step)

3. Connect your Coinsnap module with your Coinsnap account

Paste your Store ID and API Key from your Coinsnap dashboard into the module on your website or store, and all payments will be credited directly to your wallet.

How to connect your module with your account (step-by-step)

Strike Wallet Payout to your own bank account or Bitcoin Wallet

Posted on May 30, 2024 by Jens Leinert

Strike Wallet Payout to your own bank account or Bitcoin Wallet

The Strike Wallet is a Bitcoin Lightning wallet with a bank account and a Bitcoin wallet. The Strike Wallet is suitable for store operators who want to pay out sales from their online store to their own bank account or forward them to a Bitcoin on-chain wallet.

Strike Wallet is available as a smartphone app for private individuals and Strike Business as a web version for companies. In this article we describe for private individuals how to initiate a Strike wallet payout to your own bank account or Bitcoin Wallet.

If you are a company and would like to open an account with Strike, we recommend this article: Strike Business Bitcoin Lightning Wallet for businesses

In addition to the US and Europe, Strike is available in more than 95 other countries, including Brazil, Argentina, Mexico, El Salvador and Serbia.

Any online merchant in whose country Strike is available can accept payments from their customers via Coinsnap Bitcoin Lightning and receive the credit either in Bitcoin or in their local currency to their bank account.

We explain how this works in this article.

Use Strike with Coinsnap

Anyone who accepts Bitcoin Lightning payments with Coinsnap can have their transactions credited to the Strike Wallet and decide whether the credit should be made in Bitcoin on the Bitcoin Wallet or in their local fiat currency on the Cash Wallet.

The Strike Wallet has two wallets, one for the balance in Bitcoin and one for the balance in your own fiat currency such as euros or dollars. Strike also provides you with a Lightning address that is suitable for receiving Bitcoin Lightning payments from Coinsnap.

You connect your Strike Wallet to Coinsnap and all your Bitcoin sales are credited directly to your Strike Wallet. In your Strike Wallet, you can choose whether the credit should be made to the Strike Bitcoin Wallet or to the Strike Cash Wallet.

In this article, we explain how to get the Strike Wallet, how to set up a Lightning address with Strike and how to deposit this Lightning address with Coinsnap so that your Bitcoin sales are credited directly to your Strike Wallet. We will then show you how to set up the Strike Wallet so that incoming Satoshi is credited to the Bitcoin Wallet or the Fiat Cash Wallet.

Install and use Strike Wallet

The Strike Wallet is an application for your smartphone.

To install the Strike app on your smartphone, you can either search for the Strike app in the Apple App Store or the Google Play Store and install it, or you can visit the strike.me website and follow the link for your smartphone.

Once you have installed the Strike app on your smartphone, you have to enter your personal details and also provide a photo of an ID document.

Once your personal details have been verified, Strike is available.

At the bottom of the home screen, we find the selection for the two Strike Wallets already mentioned.

One is the Bitcoin Wallet with our Bitcoin balance and the other is the Cash Wallet with our local fiat balance. The fiat balance is held in your local currency and is, for example, in USD for users from the USA and in euros or in the currency in which you live for users from Europe.

Strike Lightning Address

To use Coinsnap, we need our Lightning address, which is provided to us by Strike.

To do this, click on the symbol that looks like a little man in the top right-hand corner.
You will then be taken to your profile page.

Here you have the option of choosing your desired name. This name and the suffix @strike.me will then be your Lightning address.
This looks like an e-mail address, but instead of receiving e-mails, you can use the Lightning address to receive Lightning payments.

We now store this Lightning address with Coinsnap and log into our Coinsnap account.

There we go to Finances -> Settings section and then to Deposit.

In the Lightning Payout section, we store the Lightning address from our Strike Wallet in the Lightning address field.

Now our Bitcoin sales that come in for us via Coinsnap are credited directly to our Strike Wallet.

But should the credit be made to the Bitcoin Wallet or the Cash Wallet?

Credit in Bitcoin or fiat?

You can specify in the Strike Wallet how the credit is to be issued. Either in Bitcoin in the Bitcoin Wallet or in your fiat currency in the Cash Wallet.

To do this, we scroll all the way down to the Settings section in the Profile area, where our Lightning address is also displayed.

There we find the Bitcoin sub-item and select it, where we find the Passive Incoming Payments selection.

Here we can select how payments that you have not initiated yourself are credited. Payments to your Lightning address can be sent to you by anyone and are therefore not specifically initiated by you.

Accordingly, you can select whether these are credited to your Cash or Bitcoin Wallet. If you opt for the Bitcoin variant, you can use the Bitcoin balance to pay with Bitcoin yourself or transfer the Bitcoins to a secure Bitcoin wallet, such as a hardware wallet.

If you want to protect yourself from the price fluctuations of Bitcoin and prefer to receive your transactions in your own currency in your own bank account, you can transfer the balance from the cash wallet to your own bank account.

Credit to your own bank account

Before you can withdraw the balance in your Cash Wallet to your bank account, you must deposit your bank account with Strike.

To do this, switch to the Cash Wallet and find the Withdraw menu item there.

Click on “Add bank account”.

Then enter the account number or your IBAN.

Click on “Continue”.

Then check the details again and click on “Confirm”.

Please note that withdrawals are only possible to bank accounts with the same owner name as the Strike account.

If you sell Bitcoin via Strike, you will incur a trading fee, the so-called Strike fee, which is calculated as a percentage of the trading volume. The strike fee is divided into different levels or “tiers” depending on your monthly trading volume. The more you buy or sell, the lower the fee.

Monthly trading volume Fee

< €1,000 1.29%
€1,000 – €5,000 1.09%
€5,000 – €50,000 0.89%

€50,000 0.79%

If you turn over less than €1,000 per month with Bitcoin in your online store and want to have the equivalent value paid out to your bank account via Strike, you will pay a fee of 1.29%, for example.

Credit to Bitcoin (onchain) wallet

If you prefer to keep the Bitcoin you earn, you should not store your Bitcoin balance on the Strike Wallet, but transfer it to a secure Bitcoin hardware wallet from time to time. If you transfer your Bitcoin balance from the Strike wallet to another Bitcoin wallet, Strike does not charge any fees. If you transfer your Bitcoin balance to an on-chain Bitcoin wallet, you only have to pay the mining fee. Most other Lightning wallets charge an exchange fee for switching from Lightning to Onchain, in addition to the mining fee. Strike does not charge any exchange fees and is therefore an interesting solution for traders who want to keep their own Bitcoin and transfer it to a secure Bitcoin hardware wallet (e.g. Bitbox, Ledger or Trezor).

Strike Business

If you want to use Strike Wallet for your business, we recommend Strike Business.

If you are a business and want to open an account with Strike, we recommend this article: Strike Business Bitcoin Lightning Wallet for Businesses

Strike Wallet

The Strike Wallet is an ideal addition to the use of Coinsnap. With the Strike Wallet, a Coinsnap merchant has the option of either having the transactions credited to their Bitcoin wallet or to their own bank account.

Wherever Strike is available, merchants can accept Bitcoin Lightning payments in their online store and receive the payout to their own bank account via Strike.

All you have to do is install the Strike app on your smartphone, verify yourself and enter your bank account. You then open an account with Coinsnap and deposit the Lightning address provided by Strike. Once you have installed the Coinsnap payment plugin in your online store, your customers can pay you with Bitcoin Lightning and the equivalent value is credited to the Strike Cash Wallet in your local currency and can be paid out to your own bank account.

Payout to bank account with DFX

Posted on February 12, 2024 by Sebastian Paulke

Payout to bank account with DFX

You are using Coinsnap, and your customers can pay with Bitcoin and Lightning. Payments are credited directly to your own Lightning wallet.

If you prefer to receive your Bitcoin revenue in fiat, you can use the Swiss Bitcoin broker DFX for bank payouts.

Coinsnap integrates with DFX to convert incoming Bitcoin balances into euros or Swiss francs, enabling direct payouts to your bank account.

Payouts are available to bank accounts across the SEPA area, including all EU member states, EEA countries, Switzerland, and the UK.

Coinsnap allows merchants to convert Bitcoin and Lightning payments into euros or Swiss francs via DFX and receive payouts directly to their bank account. When DFX payout is enabled, payments are routed directly to DFX, converted at the current exchange rate, and transferred to the merchant’s bank account, typically within one business day.

How payout to your bank account with DFX works

When a customer pays with Bitcoin or Lightning in your online store, the payment is routed directly to DFX.

DFX converts the received amount into euros or Swiss francs at the current exchange rate and transfers the equivalent value to your bank account. Payouts are processed daily (typically at midnight) and are usually credited the next day.

Each transaction is converted and paid out individually, so every customer payment appears as a separate entry on your bank statement.

The minimum payout amount is €10. Smaller amounts are credited to your Lightning wallet instead.

Payouts can be made in either euros or CHF. The final amount is credited to your bank account in its local currency—for example, a euro payout to a UK account will be received in pounds.

Prerequisites

To enable payouts to your bank account, you need to provide your company details, as well as the name of the account holder and the IBAN of the target account.

No additional information is required as long as your transaction volume remains below CHF 1,000 / € 950 per day or CHF 100,000 / € 95,000 per year.

If these thresholds are exceeded, an additional identity verification is required in accordance with Swiss regulations.

Fees

The fee for converting Lightning payments into euros or Swiss francs is 1.49% of the transaction volume.

If your transaction volume exceeds CHF 1,000 / € 950 per day or CHF 100,000 / € 95,000 per year and additional identity verification is required, the fee increases to 1.99%.

How to set up fiat payouts to your bank account with DFX

First, you navigate to the Settings [1] section in your Coinsnap dashboard.

Next, you open the Deposit [2] menu to choose how you want to receive your funds.

Then, you select Bank [3] as your deposit method and start the setup for bank payouts. Enter your account holder name, IBAN, and currency [4] to register your bank account and enable fiat settlement via DFX.

In the next step, you will also need to provide personal information such as your name, address, and contact details.

FAQ – what you need to know about DFX payouts

How can I receive Bitcoin payments in my bank account?

By enabling DFX payout in Coinsnap, Bitcoin payments are automatically converted into fiat and transferred to your bank account.

Does Coinsnap send Bitcoin to my wallet first?

No. When DFX payout is configured, payments are routed directly to DFX and not credited to your wallet.

How long does a bank payout take?

Payouts are processed daily and usually arrive in your bank account the next day.

Which currencies are supported?

DFX supports payouts in euros (EUR) and Swiss francs (CHF).

Is the payout available in SEPA countries?

Yes. Bank payouts are available across the SEPA area, including the EU, EEA, Switzerland, and the UK.

How to Set Up Wallet of Satoshi and Receive Bitcoin Instantly

Posted on December 17, 2023 by Sebastian Paulke

How to Set Up Wallet of Satoshi and Receive Bitcoin Instantly

The Bitcoin and Lightning sales in your online store are credited directly to your own Bitcoin wallet. You will need a Bitcoin Lightning wallet with a Lightning address.

Wallet of Satoshi is such a Lightning wallet with a Lightning address and we will explain how to get it here.

You have two options for obtaining the Wallet of Satoshi.

Either you go to the website https://www.walletofsatoshi.com/ and there you will find the two download options for the App Store or Google Play.

Or you can go directly to the store on your smartphone and search for the Wallet of Satoshi.

After you have started the Wallet of Satoshi on your smartphone, you will see a Receive button at the bottom left. Click on it.

The adjacent window opens. Below the QR code you will find the Lightning address, which looks like an e-mail address. This is your Lightning address, which you can give to anyone you want to receive sats from. If you like, you can customize the Lightning address, e.g. to yourname@walletofsatosho.com.

Connect your Wallet of Satoshi with your Coinsnap account

You store this Lightning address in the Coinsnap dashboard under Finances → Settings → Deposit.

Your customers’ Bitcoin and Lightning payments are then forwarded to this Lightning address and credited to your Lightning wallet, in this case the Wallet of Satoshi.

Coinsnap Payment Plugins

Posted on November 22, 2023 by Sebastian Paulke

Coinsnap Payment Plugins: fast integration into the store system

Coinsnap provides plugins that enable operators of online stores and websites to receive Bitcoin payments from their customers’ Bitcoin wallets to their own Bitcoin wallets.

You can download these plugins, install them yourself in a few steps without any technical knowledge and thus integrate Bitcoin and Lightning payment processing into your website.

We provide payment plugins for the most common store systems. These payment plugins are regularly updated by Coinsnap and its partners and are provided free of charge. The development of new plugins for other systems is a continuous process for Coinsnap.

Can’t find the right plugin for you? Do you use your own or a self-developed system? We are happy to implement individual connections if required.

Available payment plugins

Coinsnap offers a range of Bitcoin payment integrations designed to fit different use cases and platforms. For e-commerce, we provide ready-to-use modules for the most popular shop systems, enabling merchants to add Bitcoin and Lightning payments directly into their existing checkout.

Modules for Shop Systems

For WordPress users, we offer add-ons for widely used plugins—such as forms, donation tools, or membership systems—allowing them to accept Bitcoin payments seamlessly within their existing workflows.

Add-ons for WP Plugins

In addition, Coinsnap develops its own dedicated WordPress plugins tailored to specific use cases, including donations, voting, crowdfunding, and more—making it easy to integrate Bitcoin payments into purpose-built applications without custom development.

Plugins for WordPress

Payment plugins available soon

Modules and plugins for these solutions are currently in development, expanding Coinsnap’s integration capabilities across additional shop systems, platforms, and specialized use cases: DigiMember module, Memberpress plugin, Edoobox plugin, Pretix plugin and many more.

Which payment plugins are desired?

Coinsnap develops plugins for the most popular store systems and internet applications. If your store system is not yet offered, please let us know. We will review your request and assess if and with what priority we can develop the required plugin ourselves.

As a software developer, you can develop and offer payment modules yourself. Your payment module will be featured on the Coinsnap website and you will receive a revenue share on payments processed through your payment module.

Have a payment module created

If no payment module is yet available for the store system used, the following options are available:

Closed store system

The system used is a closed system. This means that the provider does not provide an open API interface that we could use to develop such a payment module.

Such closed store systems are often store systems that are offered by web hosts or whose systems are hosted by the provider itself.

Perhaps you can ask your provider whether there is an interface or whether the provider would like to develop a connection to Coinsnap on their own initiative.
We will actively support your provider if he wants to realize such a connection.

Here you can inform your provider about the creation of payment modules.

Open store system

With an open store system, there are several ways to establish a connection between the e-commerce solution you are using and Coinsnap:

(1) Shop system provider develops its own payment module for a connection to Coinsnap

Your provider can develop a Coinsnap payment module themselves and make it available to their customers.
We will actively support your provider if he wants to realize such a connection.

Here you can inform your provider about the creation of payment modules.

(2) External programmer develops payment module for you

The system used is open and the provider provides an open API interface, which can also be used by external programmers to develop such a payment module.

You can therefore commission a developer to develop such a payment module for you and make it available to you and other interested parties.

(3) Coinsnap develops a payment module for you

Alternatively, Coinsnap can program a payment module for your provider. Such a development is associated with effort and corresponding costs.

This expense would have to be invoiced by us accordingly. If it is a payment module that is frequently requested, we are prepared to subsidize part of the development costs and then make the module available free of charge.

Finally, there is also the option of switching to a store system for which we already offer a corresponding payment module.

We are constantly developing further payment modules, which we will make available free of charge. Please ask other users whether there is further interest in such a payment module so that we can prioritize the development accordingly.

API connection

Anyone using a self-developed or customized eCommerce solution for which Coinsnap does not provide a payment module can use an API connection.

Coinsnap offers documentation of the API connection and a PHP library on GitHub.

How to accept Bitcoin and Lightning payments on Shopify?

Posted on November 1, 2023 by Sebastian Paulke

How to accept Bitcoin and Lightning payments on Shopify?

Offer Bitcoin Lightning payment in your Shopify store

Online merchants who offer their products on the internet via Shopify can now easily offer their customers Bitcoin Lightning payment: Coinsnap provides a Shopify payment module that connects the Shopify online store to Coinsnap, thus enabling Bitcoin-Lightning payment processing.

Coinsnap for Shopify is connected to your Shopify store, it is seamlessly integrated with your Shopify checkout: Making a purchase with Bitcoin Lightning is as easy as any other payment method!

How does Bitcoin Lightning payment work with Coinsnap for Shopify?

After your customer made his selection, and clicked on Checkout, he will see the checkout form. Here he adds is personal and shipping information, and selects Pay with Bitcoin/Lightning. Next, he must click on Review order (see image on the right).

In the Review and pay screen, the customer has to click on Complete order, if everything is correct:

On the Confirmation page that now appears, your customer will start the actual Bitcoin Lightning payment by clicking on Pay with Bitcoin.

Now the actual Bitcoin payment window opens and the customer can pay with Bitcoin Lightning by scanning the QR code and authorizing the transaction in his Bitcoin Lightning wallet

After successful payment, the customer will receive a notification that the payment has been successfully completed.

During the ordering and payment process, the customer is informed by e-mail about the respective status of his order.

The customer will receive the first notification by e-mail after the order is successfully placed and another notification after the payment is successfully completed.

It is important to note that with Shopify, the order is placed first and only then is payment made. Both the customer and the store operator receive a message that the payment was successful. However, this does not mean that the payment has been successfully completed at the same time. Care must be taken to ensure that the customer has also paid successfully.

After successful payment, the status of the order is changed from Unpaid to Paid on the Shopify order page. The merchant can now start shipping the goods. At the same time, the deposited amount will be credited to the Lightning Wallet.

Shopify Manual Payment Methods

Shopify offers its own payment processing with Shopify Payments for various payment methods such as credit card, Google Pay and Apple Pay. These payment methods are prominently placed by Shopify to encourage their use.

In order to offer payers additional payment methods besides those offered by Shopify Payments, there are manual payment methods.

These manual payment methods are, for example, payments by cash on delivery or bank transfer.

A payment via Bitcoin and Lightning Payments is considered a manual payment by Shopify and Shopify does not charge any additional fees for this.

Shopify also does not offer the option to set a custom order of the payment methods offered, for example, to position Bitcoin and Lightning payments higher up. Changing the order can be done via paid apps.

On the listed payment methods page, Bitcoin and Lightning payments via Coinsnap are displayed as Bitcoin + Lightning. This setting can be changed. Just make sure to use the word Bitcoin.

Displaying a Bitcoin or Lightning icon is not supported by Shopify.

What do you need to offer Bitcoin Lightning payment in your Shopify store with Coinsnap?

It is actually very simple to add Bitcoin Lightning payment to your Shopify store. All you need is a Coinsnap account, a Bitcoin Lightning wallet, and to connect Coinsnap with your Shopify store.

Open an account with Coinsnap

To open an account with Coinsnap, click here or on the menu item REGISTER in the top menu.

You will then be asked to provide your email address, choose a password and enter a Coinsnap discount code. (If you do not have one, you can always add it later.) Then click Create account.

You will then receive an email that you must confirm.

When you sign up for the first time, you will be asked for the name of your business. This name will later be displayed to your customers so they know which store they are paying at.

After that, you will be prompted to enter a Lightning address.

Then enter the Lightning address, which is similar to an e-mail address. Your customers’ Bitcoin and Lightning payments are forwarded to this Lightning address and credited to your Lightning wallet.

How you can quickly get a Bitcoin Lightning wallet and your Lightning address we’ll describe below.

Get a Lightning Address

A Lightning address looks like an email address, but instead of sending and receiving messages, you can use it to send and receive Bitcoin and Lightning payments. If you don’t have a Lightning address yet, choose a Lightning wallet that provides you with a Lightning address.

We have created an overview that lists all Lightning wallets where you can get a Lightning address.

As an example, we show you next how to set up a Wallet of Satoshi and how to find your Lightning address. (It’s a very similar process with other Lightning wallets.)

You have two options for obtaining the Wallet of Satoshi.

Either you go to the website https://www.walletofsatoshi.com/ and there you will find the two download options for the App Store or Google Play.

Or you can go directly to the store on your smartphone and search for the Wallet of Satoshi.

After you have started the Wallet of Satoshi on your smartphone, you will see a Receive button at the bottom left. Click on it.

You deposit this Lightning address with Coinsnap and all incoming Bitcoin and Lightning payments are credited directly to your Bitcoin Lightning wallet via the Lightning address.

How to integrate Coinsnap Bitcoin payment in your Shopify store

To accept Bitcoin and Lightning payments in your Shopify store, the Shopify store must be connected to Coinsnap. There are two ways to do this: You can integrate Coinsnap into your Shopify store yourself or let us do the integration for you.

Do It Yourself

If you are comfortable with Shopify, you can certainly connect your Shopify store with Coinsnap by yourself. Just follow our step-by-step installation guide, and you should be done in about an hour.

Free Integration Service

If you don’t want to go to the trouble of connecting Coinsnap for Shopify with your Shopify store, we’ll be happy to do it for you – free of charge and reliably.

Tags:shopify