Accepting Cryptocurrency In Your Online Business (2025 Updated)

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You’ve likely heard a lot about cryptocurrency (or ‘crypto’) and how it’s revolutionising the world of online payments.

An increasing number of consumers in 2025 are now choosing to purchase goods and services online using cryptocurrency. So, if you’re looking to get ahead of the curve and future-proof your business, now is an excellent time to consider integrating crypto into your payment options.

If you’re considering accepting cryptocurrency as a form of payment in your online business or eCommerce store, there are a few things you must know.

Cryptocurrency is a pretty complex topic, but we’re here to help you get your head around it!

In this article, we’ll provide a basic overview of:

Exactly what cryptocurrency is
How to accept cryptocurrency as a form of payment in your online business
Key risks to look out for
Things to be aware of when selling products on a third party site that accepts crypto

What Is Cryptocurrency?

Cryptocurrency can be tricky for business owners (and, in fact, anyone!) to get their heads around.

Put simply, cryptocurrency is a digital form of currency that uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds.

Cryptocurrency operates independently of a central bank.

Instead, cryptocurrency is stored on computerised databases, where it is protected by strong encryption to:

Secure transaction record entries
Control the creation of additional digital coin records
Verify the transfer of coin ownership

There are various types of cryptocurrency out there. Some of the more popular cryptocurrencies you may have heard of include:

Bitcoin
Ethereum
Ripple

Of course, there are many other cryptocurrencies beyond those listed above. It’s important that you do your own research into the best cryptocurrencies to accept on your online store.

What Are The Advantages Of Cryptocurrency?

Some of the most commonly-discussed advantages of cryptocurrencies are:

It’s decentralised: Cryptocurrency is not controlled by a centralised bank, government or corporate board. Instead, it operates on a peer-to-peer basis.
It’s borderless: Payments can be sent and received from anywhere in the world with just an internet connection.
It captures a broader market: Accepting crypto opens your business to a global community of digitally savvy consumers.
It’s safe: Data is secured via complex encryption protocols, making breaches and hacks extremely difficult.
It’s fast: Transactions and fund transfers occur almost instantly, even across international borders.

What Legals Should Your Business Have In Place Before Accepting Cryptocurrency?

As a business owner, it’s important to have an efficient, stable and protected online store. We’d advise having your legal basics covered before you even consider accepting cryptocurrency.

One of the key legal foundations of an online business is a solid set of terms and conditions for your site. Ensure your online shop terms and conditions are current, and consider reviewing your website terms and conditions to specifically address crypto transactions. It’s also a good idea to protect your online brand by considering a registered trade mark – learn more about registering your trade mark with us.

A good set of online shop terms and conditions gives clarity to your customers on important points like:

How payments work
Refund policies
Dispute resolution processes
What happens if something goes wrong with a customer’s order

For more general information on choosing the right payment structure for your online business, check out our article on payment structures for online marketplaces.

How To Accept Cryptocurrency On Your Business’ Website

So, you’re ready to take the plunge into the world of crypto? Here’s a step-by-step list of how to accept cryptocurrency as a form of payment on your business’ site.

1. Set Up A Cryptocurrency Wallet

To accept cryptocurrencies on your business’ website, you must have a cryptocurrency wallet.

Your business may wish to accept an exclusive list of cryptocurrencies, or you may decide to accept any cryptocurrency. Ultimately, it is up to you and what best suits your business.

Some cryptocurrencies have their own recommended wallets. For example, Bitcoin recommends you use Bitcoin Wallets.

Generally, cryptocurrency wallets can be stored:

On your desktop
Online
On your personal/business mobile
On physical hardware

There are two main types of cryptocurrency wallets:

Hot Wallets: This is a hosted wallet situated on the internet. Although popular and convenient, it is generally less secure and more susceptible to potential hacks.

Cold Wallets: This wallet is not connected to the internet. Typically in the form of a physical hard drive, it is considered the safest and most secure option – popular choices include Trezor and Ledger Nano S.

Each type of wallet has its pros and cons, but it’s generally recommended to use a physical hardware wallet when dealing with large quantities of cryptocurrency.

When choosing your wallet, ensure that it supports the cryptocurrencies your store plans to accept. Importantly, never purchase a second-hand crypto wallet off eBay.

Once you’ve set up your cryptocurrency wallet, you will receive:

A public address and QR code: Customers use these details to deposit crypto directly into your business’ wallet.
A private key: Your personalised ‘passcode’ to your crypto wallet. Keep this written down in a secure location, as losing it could mean losing access to your cryptocurrency.

2. Integrate Cryptocurrency Into Your Business’ Website

There are several ways to integrate cryptocurrency into your website. It’s important to evaluate all available options and select the method that best fits your business needs.

Here are some common methods for integrating cryptocurrency into your website:

Manual Payment

By displaying your personal QR code or public wallet address, customers can deposit the relevant cryptocurrency directly into your cryptocurrency wallet.

Popular wallets such as Coinbase Wallet offer detailed guides on integrating cryptocurrency into key areas of your online store.

Have A ‘Pay With Crypto’ Button

Adding a ‘pay with crypto’ button on your website clearly signals to your customers that you accept cryptocurrency as a form of payment.

Accept Payment Via A Service Provider

Several service providers offer a streamlined way to accept crypto payments. Popular providers include:

Using these services can alleviate much of the stress associated with accepting crypto on your site, though it’s important to be mindful of any associated fees.

Key Risks Associated With Accepting Crypto As Payment

Before you decide to accept cryptocurrency as a form of payment, there’s one very important thing to remember: crypto can be volatile!

For example, the value of Bitcoin can fluctuate significantly over a short period. Even in 2025, such rapid changes remain a considerable risk—underscoring why many view cryptocurrency as a long-term investment rather than a short-term payment solution.

As such, you may wish to transfer cryptocurrency payments into fiat (normal currency established by a government, such as Australian dollars) immediately upon transaction.

Some ways you can do this include:

Manually transferring funds from your crypto wallet to your bank account
Utilising platforms like Coinbase to automate the conversion process

The cryptocurrency will then be credited to your business’ bank account based on the prevailing exchange rate.

Tax Considerations

According to the Australian Taxation Office, a capital gains tax (CGT) event occurs when you dispose of your cryptocurrency.

Disposal occurs when you:

Sell or give away cryptocurrency
Trade or exchange cryptocurrency (including swapping one cryptocurrency for another)
Convert cryptocurrency to fiat currency
Use cryptocurrency to procure goods or services

It’s vital to understand the tax implications of accepting crypto on your business’ website. Keeping meticulous records and consulting with a tax professional can help you manage these obligations.

For more information regarding tax and cryptocurrency, click here.

Selling Products On A Third Party Site That Accepts Crypto

Third party sites are a popular alternative for business owners who want to sell their products online but don’t want the hassle of setting up their own online store.

For instance, Shopify has continued to evolve its platform in 2025, enabling merchants to accept various cryptocurrencies including Bitcoin and Ethereum. Always review the terms and conditions of your third party site to ensure they align with your crypto strategy.

Even when selling through a third party site, it’s essential to research the potential challenges associated with accepting cryptocurrency. With its inherent volatility and the accompanying tax implications, careful planning is key. We can also help you draft a set of custom terms and conditions for your Shopify store to ensure you’re properly protected.

Looking ahead in 2025, businesses that accept cryptocurrency must remain agile and informed. The regulatory landscape is continually evolving, so it’s crucial to regularly update your legal documents and payment processes. Keeping abreast of changes – through resources like our industry regulations guide – can help ensure your business remains compliant and competitive.

Need Help?

Cryptocurrency is an exciting area to delve into. And, as a business owner, it may be worth expanding your accepted forms of payment to include crypto.

We understand that cryptocurrency is an extremely dense and complex area to get your head around. So, we’re here to help!

Whether you want to understand the best payment structure for your online business, need your store’s terms and conditions updated, or have any other questions—get in touch!

For a free, no-obligations chat, contact our team at team@sprintlaw.com.au or give us a call on 1800 730 617.

Bella Duncan

Bella has experience in boutique and large law firms with particular interest in privacy and business law. She is currently studying a double degree in Law and Psychology at Macquarie University.

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