Ethereum as a means of payment for online stores

Ethereum price CHF
Ethereum price CHF

Ethereum has become a popular means of payment for web stores. The cryptocurrency can be processed and transferred in a matter of seconds and is generally associated with low fees. If you offer Ethereum in your online store, you increase efficiency and reduce costs. With Payrexx, you can easily offer Ethereum as a means of payment in your store.

Current Ethereum price

Safe

The blockchain technology behind Ethereum ensures the integrity of transaction data and protects both merchants and customers from fraud and manipulation.

Quick

While transactions with bank transfers can take several days, payments using cryptocurrencies are usually processed in a few seconds. However, the speed can vary depending on the network load.

Inexpensive

In contrast to payments with credit cards, which sometimes involve high fees, transactions with cryptocurrencies are considered very cost-effective.

Ethereum price CHF

Ethereum as a means of payment for online stores

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Current Ethereum price

ETH in CHF

The Ethereum price

Similar to exchange rates of currencies, the price of cryptocurrencies also fluctuates constantly. This is especially true because it is not set by a central bank, but is influenced by various factors . Therefore, it is very important for both a user and a trader to keep an eye on the current Ethereum price CHF.

Supply and demand
The price changes depending on how many people are currently buying and selling Ethereum.

Speculation
Speculators take advantage of price fluctuations and therefore deliberately ensure that they occur.

Technical factors
The hashrate of the miners or the number of active users also influence the price.

Advantages of Ethereum as a means of payment

For you as a retailer

  • As a merchant, you benefit from Ethereum in various ways if you offer this payment method for payments in your online store. On the one hand, this gives you access to a new customer segment: tech enthusiasts in particular like to use cryptocurrencies for their purchases. You could win them as customers and thus increase your sales.

  • Secondly, with Ethereum you benefit from low transaction fees, especially in comparison with other payment methods such as credit cards. This means you have to pay fewer fees and thus improve the return on your online store.

  • Thirdly, payments using Ethereum do not allow chargebacks. This means that transactions cannot be reversed, thereby reducing the risk of payment defaults.

For your customers

  • As a shopper, there are various reasons to use Ethereum as a means of payment when shopping and trading online. On the one hand, there is the global applicability: cryptocurrencies are now accepted as a means of payment in many different online stores around the world, allowing you to shop globally.

  • On the other hand, as a cryptocurrency, Ethereum is independent and not tied to a central bank or government. This means that users are not dependent on third-party providers and have control over their funds.

  • Furthermore, the blockchain technology behind Ethereum not only ensures full transparency in terms of transactions, but also maximizes security. Paying with cryptocurrencies reduces the risk of fraud and identity theft.

Offer Ethereum as a means of payment in your online store - in just 3 steps

1. log in

Log in to your Payrexx backend, go to "Payment providers" and activate the respective third-party provider.

2. connect

Register with the third-party provider of your choice and connect the application in the backend with Payrexx.

3. sell

Your customers can now select the third-party provider as a payment method when checking out.

Do you need help?

Existing customer

Benefit from our managed services and let us set up your account and the payment provider of your choice. Depending on the package, we also offer social media marketing, design customization or telephone training.

Not a customer yet?

Create your Payrexx account at the touch of a button and test Payrexx without obligation. As a third-party provider, you can activate Utrust or Coinbase manually in just a few steps and offer them to your customers as a payment method in your online store.

Frequently asked questions
about Ethereum

  • Ethereum is a blockchain platform that fulfills several functions. For example, it also acts as a kind of decentralized internet, enabling the development of various applications, more precisely decentralized apps (dApps), which are not managed by a single entity. These applications are published on the Ethereum platform and can be used here.

    Today, however, most people associate Ethereum with the cryptocurrency created by the platform, known as Ether (ETH). This currency can be used to carry out transactions online or locally.

  • Ethereum uses blockchain technology to record and display transactions. Roughly speaking, the individual transactions are combined into blocks and then linked together (chain). This chain is in turn managed, checked and validated by an entire network of computers.

    The special thing about blockchain technology is that all transactions carried out in the blockchain are openly visible, which ensures maximum transparency and therefore greater security.

  • In contrast to the well-known cryptocurrency Bitcoin, Ethereum is a much more complex platform: while Bitcoin is mainly used as a means of payment, Ethereum is based on an entire decentralized internet that can also be used to develop and publish dApps, for example.

  • There is an almost endless number of cryptocurrencies, which is constantly on the rise. However, only a few of these currencies manage to establish themselves. Some act as so-called stablecoins and are firmly pegged to another currency, such as the US dollar or the euro. These include Tether, USD Coin and Dai.

    Other cryptocurrencies can only be used within a certain network or for a certain service. Ripple, for example, focuses on cross-border payments and the Ethereum discussed here is mainly used to buy the services and applications offered on the Ethereum platform.

  • The Ethereum price CHF is constantly changing, which is why it is not possible to give a fixed cost amount. Within just a few hours, the Ethereum price can rise or fall. This is because the cryptocurrency is not managed by a state or a central bank, but depends on several factors, such as supply and demand or various technical conditions.

    If you are considering exchanging your money for Ether (ETH), you should definitely find out about the current exchange rate and its direction beforehand.

  • If you want to invest in Ethereum, you should definitely take a closer look at the platform and the cryptocurrency. Investing in cryptocurrencies can generate high returns, but it also comes with various risks. Ethereum's price fluctuates steadily and is often used for speculation. In addition, it depends on many other factors. It is therefore advisable to consider the Ethereum price CHF as well as other relevant factors before investing.

  • Ethereum can be purchased as a cryptocurrency via so-called crypto wallets. Third-party providers that can be integrated into your Payrexx solution are particularly suitable for this, specifically Utrust and Coinbase. If you open an account here, you can quickly and easily buy various cryptocurrencies and use them as a means of payment.

    In addition to using it as a means of payment, there are also various Ethereum-based products and services in which you could invest.

  • As a means of payment, Ethereum offers both you as a merchant and your customers various advantages. For example, the cryptocurrency is considered particularly secure, as all transactions can be transparently displayed and viewed using blockchain technology. Fraud is therefore usually detected quickly.

    Another advantage of cryptocurrencies is their decentralization: unlike various currencies or means of payment, they are not controlled and managed by a state or a bank, but by an entire network. This reduces the risk of corruption or misuse.

    Last but not least, Ethereum also stands out due to its reach. As a cryptocurrency, ether (ETH) is accepted as a means of payment in various online stores and businesses all over the world, making it particularly suitable for international transactions.

  • Like almost all cryptocurrencies, Ethereum also harbors various risks. First and foremost is scalability: as Ethereum can only process a certain number of transactions per second, this leads to delays and high fees. Security has also shown shortcomings in the past - despite the fact that blockchain technology is actually secure. For example, Ethereum has already been the subject of several hacker attacks. Furthermore, Ethereum, like all cryptocurrencies, is a relatively new and still unknown technology. Accordingly, it is not yet regulated, which can lead to uncertainty among investors in particular.

  • Ethereum 2.0, also known as "The Merge", is intended as an upgrade to significantly improve Ethereum technology - particularly in terms of scalability, security and efficiency. For example, the number of possible transactions per second is to be significantly increased, or the so-called Proof-of-Work (PoW) consensus mechanism is to be switched to the much more secure and efficient Proof-of-Stake (PoS) system.

    The complete transition to Ethereum 2.0 is a gradual process. Today, many important aspects have already been implemented, while others are still under development.

  • Activating Ethereum as a payment method for your online store is very quick and easy with Payrexx. As soon as you have created an account with the respective third-party provider, you can link it to your Payrexx account in just a few steps and accept payments in the cryptocurrency.

    At the same time, you also benefit from our free open source Payrexx plugins. This enables you to integrate Ethereum smoothly into your online store project.

    Further information on the implementation of Ethereum in the best-known e-commerce systems:

    View overview

    Also with our customized system: Payrexx Merchant:inside API

  • With the help of Payrexx, you can quickly and easily integrate Ethereum into your online store - as soon as you have created an account with the respective third-party provider.

    At the same time, you also benefit from our free open source Payrexx plugins. This enables you to integrate Ethereum smoothly into your online store project.

    Further information on the implementation of Ethereum in the best-known e-commerce systems:

    View overview

    Also with our customized system: Payrexx Merchant:inside API

  • If you integrate Ethereum as a payment method for merchants with Payrexx in your webshop, we guarantee you the greatest possible security for every transaction. Payrexx enables the following security precautions when integrating the Ethereum payment method via third-party providers:

    • Personal data, both yours and that of your customers, is stored on secure Swiss servers in compliance with the GDPR.

    • Payrexx is fully PCI DSS Level 1 certified, the highest global security standard for payment data, developed in cooperation with several credit card organizations.

    • To ensure secure data transmission, Payrexx uses encryption protocols such as SSL (Secure Socket Layer) with 256-bit encryption, the highest security standard.

    • The 3-D Secure process strengthens online payments with additional identification, minimizes fraud risks and chargebacks, and ensures maximum security and customer authentication.

    Within just 5 minutes, you can accept your first online payments securely and easily with Payrexx and Ethereum for merchants.

Are you ready to get started? Try Payrexx free of charge and without obligation.