Articles Extensions

How to Accept Bitcoin: Magento Bitcoin Plugin2 min read

November 18, 2020 2 min read


How to Accept Bitcoin: Magento Bitcoin Plugin2 min read

Reading Time: 2 minutes

We at OpenNode strongly believe that the e-commerce industry will enjoy the benefits of instant, low-cost payments using Bitcoin and drive the next wave of Bitcoin adoption. That’s why we focus on providing the easiest way to accept Bitcoin for any online business and by adding new plugin solutions on our platform we can expand our platform to more merchants. With that said, we’re pleased to announce that our platform will now offer a Magento Bitcoin plugin. 

Integrating the OpenNode Magento Bitcoin plugin is quick and easy and can have your business accepting Bitcoin payments in minutes.

Plugin installation

  1. Download the Magento plugin
  2. Extract the downloaded ZIP file
  3. Upload the extracted folder to your server, on MAGENTO_ROOT/app/code
  4. Run the following commands:
    composer require opennode/opennode-php --ignore-platform-reqs
    php bin/magento module:enable OpenNode_OpenNodePayment
    php bin/magento setup:upgrade
    php bin/magento setup:di:compile
    php bin/magento cache:clean

Plugin configuration

After installing the Magento plugin, you should activate it and configure it properly.

You will need an OpenNode API key. To get one, follow these steps:

  1. After signing up on OpenNode, log into the platform
  2. Click on “Developers” and select the “Integrations” tab
  3. Click on the “Generate E-commerce Key” button
  4. Copy the generated API Key

After getting your API key, you can configure your OpenNode Magento plugin:

  1. Access your Magento Admin panel.
  2. Click on “Stores” and then “Configuration”.
  3. Click on “Sales” and then “Payment Methods”.
  4. Select “OpenNode” to view all configuration options
  5. Paste the API key in the “API Key” field

When you’re done, it should look something like this:

Image of Magento dashboard with OpenNode Magento Bitcoin Plugin

What are the benefits of accepting Bitcoin with my store? 

  • Low Fees: OpenNode offers 1% payment processing fees which is significantly lower than most traditional payment methods
  • No Chargebacks: With Bitcoin payments, there is zero chargeback fraud. Integrating OpenNode gives your business a payment method with zero chargebacks. 
  • Global: Bitcoin payments can come from anywhere in the world. Accept Bitcoin and expand your business to customers around the world. 
  • New Customers: There are millions of Bitcoin users all around the world, give your business a competitive advantage by marketing to this unique demographic. 

Congratulations! Now that you have set up your Magento plugin, we’re happy to welcome you to the world of Bitcoin. Want to know more about Bitcoin and learn more about the OpenNode platform? Check out our blog for more information on Bitcoin and the Lightning Network, don’t forget to subscribe and follow us on Twitter for more information! 

Do you want to accept Bitcoin with your e-commerce store using OpenNode but we don’t currently support your e-commerce platform? Send an email to support@opennode.com and we’re happy to help you!

Peace & Love 

The OpenNode team