Coinbase Commerce Overview

Coinbase Commerce is a distinct merchant service operating independently from Coinbase's primary services. This platform enables users to accept payments in Bitcoin, Bitcoin Cash, Ethereum, and Litecoin for their online stores. Integration with e-commerce platforms like Shopify and Woocommerce is possible. The service sets itself apart by providing a recovery seed in case of account loss or compromise. It's important to note that Coinbase Commerce accounts are separate from traditional Coinbase accounts, as they belong to a completely different service.

The launch of Coinbase Commerce took place in 2018, marking its early stages of implementation. While this recent launch holds promise, some features are yet to be fully developed. Presently, users can only withdraw Bitcoin and Litecoin. For Bitcoin Cash and Ethereum, users can import their keys into external wallets like Jaxx for fund management.

Payment Processing and Security

For payment processing, a checkout landing page with a wallet address and QR code is provided. Payments remain open for fifteen minutes, after which they are canceled. All transactions are processed on-chain, ensuring transparency and security. Notably, there are no fees for accepting payments through Coinbase Commerce. To enhance security, users can opt to enable two-factor authentication for an additional layer of protection.