Receive crypto payments for your digital products
When selling access to your digital products, you should be provided with the flexibility to choose how you receive payments. One of the more trendier ways to accept payments and get paid on Whop is through crypto payments.
Our crypto payments are broken down into three parts, offering support to ETH payments, Subscription-based payments, and Coinbase Commerce.
A breakdown of associated fees can be found here.
For Whop’s native crypto payments, the deployment of an Ethereum payment gateway contract is required to receive your payments. To create an Ethereum payment gateway, go to the ‘Settings’ page and select the ‘Billing’ tab. Once done, connect your ’Crypto wallet’ - doing this you will pay a small transaction ‘Gas fee’ to deploy the gateway. Once finalized, you should receive an email confirming the success of your new payment method.
Crypto subscription-based payments
For subscriptions, businesses can set up crypto-based subscriptions using wETH (Wrapped Ethereum) on Whop. wETH enables Whop to automatically pull from an allowance of crypto in the purchasers wallet each month to pay for your product.
Adding crypto as a pricing option
For both ETH and Subscription-based payments, simply navigate to the desired Product you want to add crypto to, select ‘Add pricing option’ and check the box for ‘Ethereum’. To toggle between recurring subscription payments and one-time simply select the time-frame dropdown.
Withdrawing wETH and ETH from Whop
Now that you have added your pricing options and deployed the ETH payment gateway you will be able to withdraw your payments as you get sales. To do this simply navigate to the ‘Billing’ tab via the Settings menu and reconnect the same wallet you used to deploy the gateway contract. From here, you can click withdraw and easily receive all of your funds!
In addition to Whop’s native wETH and Ethereum payments. Businesses can accept and charge, Bitcoin (BTC), USDC (USD Coin), Litecoin (LTC), Dai, and Ethereum payments via Coinbase Commerce.
When Coinbase Commerce payments are used - all types of crypto accepted are converted into USD and added to your Whop balance. These funds can be transferred out of Whop via ACH, PayPal, wire, or a paper check using our payout provider Tipalti. Funds take 2-3 days to reach out account after a withdrawal has been requested, and may be subject to a withdrawal fee or FX fees depending on your region.
Please note that Coinbase commerce payments cannot be subscription based.
Adding Coinbase commerce as a pricing option
Adding Coinbase commerce as a pricing option is as simple as going to your Products page, selecting ‘Add pricing option’, choosing one-time payment from the drop down and checking the box that shows up for Coinbase commerce.
Once your funds have been converted, to access your funds for withdrawal-able balance, navigate to Whop.com, select Account settings, go to Your Balance, select Withdraw and fill in the respective fields to receive your funds.
Crypto Payments FAQ:
Can I charge crypto in USD (or another currency?)
By default, ETH payments are pegged to an USD amount. What this means is that the amount of Ethereum charged will fluctuate as the price of Ethereum increases or drops.
To have the price of your product denominated in ETH, (Eg. 0.1 ETH is charged regardless if it is worth $100 or $1000 USD). Simply select the toggle for currency next on the pricing option screen and select ETH.
How can I accepting both crypto and fiat?
Simply toggle both Fiat and Ethereum payment methods when adding a pricing option.
Overdue Crypto-based subscription payments
If the automatic renewal fails, Whop will automatically attempt to withdraw wETH payments 4 times over a period of 6 days, providing additional email follow ups to notify the customer.
If you would like to enable overdue customers to still access their perks over these 6 days. Simply navigate to ‘Checkout’ and toggle on ‘Access while past due.‘
What happens if someone Overpays or Underpays for their correct subscription?
If a user underpays or overpays for their purchase, the subscription will not generate and it will be sent to your Unresolved tab. To access this page, navigate to Payments, and click on Unresolved, and follow the prompts. If you do not have any underpaid or overpaid payments, this tab will not be visible.