How to set up a Lightning addresses for your business
CoinCorner Checkout is a simple bitcoin solution for any business looking to accept bitcoin payments. If you own a business (or know somebody who does!) and want to accept bitcoin, get in touch.
Hello, Matt here!
I want to highlight a powerful feature that your business can take advantage of to accept bitcoin payments: Lightning addresses.
Your Wi-Fi is down or your POS device is damaged… DON’T PANIC! Although you can’t create an invoice, your customers can still pay by sending bitcoin to your Lightning address. It’s like an email address, but for Bitcoin!
How to set up a Lightning address (aka LNURL)
- Login to your CoinCorner merchant account via the website or the app
- Go to Settings > LNURL
- Choose your Lightning address — e.g. yourbusiness@coincorner.io
In-store payments using a Lightning address
- Give the customer your Lightning address and the amount in GBP/EUR
- Confirm that the customer has entered the correct Lightning address and amount on their device
- Confirm that the transaction has been completed
Recurring Lightning payments
CoinCorner customers can now set up recurring payments to Lightning addresses. Both “standing orders” (fixed frequency, fixed amount) and “direct debits” (fixed frequency, variable amount specified by merchant) are available. Perfect for subscription services!
Charitable donations to a lightning address
Lightning addresses are also great for charities as they enable your supporters to donate bitcoin in seconds with minimal fuss. This could be a one-off donation or a regular gift.
- Share your Lightning address on your website/social media channels
- Wait for the donations to come rolling in!
Notes
- Businesses should only use lightning addresses if other bitcoin payment methods (Bolt Card/QR code) are unavailable
- The GBP/EUR to bitcoin exchange rate will vary depending on which app the customer is using (if you’re worried about this, you could specify the amount in bitcoin using an online conversion tool)
- You will receive bitcoin in your account — it will not be automatically converted to GBP/EUR
Let me know once you have set up your Lightning address and I might just send you some bitcoin!
This communication is for information and education purposes only and is not intended as promotional material in any respect. All posts are the opinion of the author and should not be construed as investment advice and the opinions expressed do not necessarily reflect the views of CoinCorner Ltd. Cryptocurrencies are unregulated in the UK. Crypto profits may be subject to Capital Gains Tax. The value of investments is variable and can go down as well as up. Any references to past or future performance are not, and should not be taken as, a reliable indicator of future results. CoinCorner Ltd makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.
