hello im building my own application, i want to know if i can use your APIs to be able to accept cryptocurrencies as payment for my ecommerce app. I specifically want to accept BNB as my crypto payment. Is that possible via your api? If yes, how? please guide me
Hi there @goodboy! We are glad that you are interested in using our Coinbase APIs to be able to accept cryptocurrency payments for your E-Commerce app. With that in mind, what we recommend for your desired use case is the Coinbase Commerce API. The Commerce REST API lets you integrate cryptocurrency payments into your business. Customers pay you directly from their computer or mobile device using the blockchain as the settlement network.
To start accepting cryptocurrency payments you need to create a request for payment, also known as a charge. When you create a charge, we generate payment addresses on your behalf for each cryptocurrency that’s enabled. We provide you with a hosted page that you can send to customers to complete the payment. Once a charge is created a customer must broadcast a payment to the blockchain before the charge expires. But please note that before you can successfully create a charge using the create a charge endpoint, you would first need to create an API key since Commerce API requests must be authenticated with an API key. You can create an API key in your Settings page after creating a Coinbase Commerce account.
You also mentioned that you specifically wanted BNB as your desired crypto payment. Unfortunately, we regret to inform you that the supported cryptocurrencies for payment are as follows: Bitcoin (BTC), Bitcoin Cash (BCH), DAI, Ethereum (ETH), USD Coin (USDC), APECoin (APE), DOGECoin (DOGE), and Shiba Inu. Coinbase Commerce currently does not support payments sent through ETH-compatible Layer 2 Networks (such as Polygon, Binance Smart Chain, Arbitrum) and we are unable to recover these funds. BNB, also known as Binance Coin, is the native crypto token of the Binance cryptocurrency exchange and associated blockchains such as Binance Chain and Binance Smart Chain. Therefore, we would like to give a disclaimer beforehand that in the event that your customer will pay you in BNB, you and even Coinbase will not be able to retrieve the said payment.
As a workaround, you may opt to convert your received payment to BNB after making a withdrawal. You can withdraw any crypto you have directly to a linked Coinbase account. From there, you can convert the crypto to cash or any cryptocurrency such as BNB.
For more information about support cryptocurrencies, withdrawals, and about Coinbase Commerce, you may go to these links below:
We hope we were able to help with regard to your inquiry. Please do not hesitate to reply back to this thread if you have any other concerns.
if i convert my received payment to BNB, there will be fees right?? i hope your coinbase commerce api will support more assets. I dont understand why it only supports limited assets
Hello @goodboy! Thank you for reaching back to us. Yes, you are correct! For the workaround stated above, there are fees for converting your received payments to BNB. You may refer to these links for more information:
Please note that this conversion is only applicable to Coinbase website and Coinbase Mobile application and there are no API conversion endpoint available as of the moment for this.
Moreover, we appreciate your idea in hoping that Coinbase Commerce would support more assets, rest assured that we will logged your request as a feature request with our internal teams so we can continue improving our user experience. Most new features and improvements to our products come directly from feedback like yours, so it’s very valuable to us. While we can’t offer any specific timeline for adding features, we are constantly working to build products our customers will love.
If you want to stay up to date on the latest from Coinbase Cloud, you can also bookmark the following webpage and subscribe to email updates at the bottom of the page: https://www.coinbase.com/cloud/discover
Should you have any other concern, please feel free to reach back to us! Have a nice day!
3 posts were merged into an existing topic: Is USDT an accepted payment or not? Docs are contradictory