Frequently Asked Questions
What is SatoshiPay?
SatoshiPay is a wallet for pocket change on the web. It allows anybody to instantly pay tiny amounts from and to anywhere. The software is made of a browser Bitcoin wallet (that is automatically created when visiting a site) and a lightweight nanopayment paywall (that blocks the content until it has been paid for).
How does it work?
When a visitor comes to your website, SatoshiPay actually sets up a Bitcoin wallet for them in the background, which they can top up with money and use to pay for the content. The SatoshiPay wallet is stored in the browser and can be used again and again.
What will my users see?
The users see a little button in the corner of the screen (what we like to call the “Sun of Satoshi”) with the current amount in their wallet. The premium content is hidden with grey bars and a price tag. When a visitor clicks the button, it opens a menu where they can top up, manage their wallet, etc.
With no sign-up, is it safe to use?
A browser wallet will never be as secure as a cold storage wallet, but we’ve used some of the state-of-the-art security processes to make the tool as secure as possible. We discourage large amount of value being stored in the wallet, by letting visitors only top up small amounts at a time. The idea is that this is the visitor’s pocket change - not their savings account - so it shouldn’t hurt them too much if their funds get lost.
Installing SatoshiPay on my website
The plugin is super-easy to install for content providers on WordPress.
- Log into your WordPress admin and install the plugin directly from there or download the WP plugin from the WordPress Plugin Directory and upload it to your server (guide on how to install WordPress plugins can be found here). Activate the plugin.
- Go to the SatoshiPay dashboard and register an account.
- In the SatoshiPay dashboard, first add a Bitcoin wallet address (if you don’t have a Bitcoin wallet, you can find the instructions below)
- After you've added a Bitcoin address, you'll get some API keys. Copy-paste the API details (API key & API secret) to the WordPress plugin.
- Now you can add a price (in satoshis) to your posts.
Can I use SatoshiPay if I don’t use WordPress?
Today, no. Tomorrow, yes :) Currently, we don’t support other platforms than WordPress. It won’t be long before we launch versions for other situations, so please follow us on Twitter for updates.
SatoshiPay is powered by Bitcoin for easy transactions everywhere.
How will I as a publisher get paid?
Whenever a visitor pays for a piece of content on your site, you as a content publisher have been credited with an amount. The bitcoins are not immediately paid out to your Bitcoin wallet, but will be pending for a holding period (while we wait to see what other content the visitor will also pay for, before we execute the transaction).
In this period, you can see the sale in the SatoshiPay dashboard, but it will be “Pending” until the payment channel is closed and the transaction put into the Bitcoin blockchain.
Does SatoshiPay charge anything?
Currently we don’t charge a single satoshi. ;) We will soon start charging publishers 10% on transactions that we facilitate, this being our bread and butter after all.
Are there any other fees?
Yes, to use the Bitcoin network everybody must pay a fee (around 5,000 satoshis per transaction) which is, basically, a subsidy that is given to the Bitcoin network miners to maintain the network. This fee is embedded in the transactions handled by the SatoshiPay app. But don't worry, these fees don't apply to each nanopayment users make. Why? Well, that's the SatoshiPay magic! :)
How do I set up a Bitcoin wallet?
A wallet is the software you use to store and use your bitcoins. It’s very important that you set the wallet up properly, so you don’t lose the funds. If you deal with large sums of bitcoin, we recommend that you get a hardware wallet.
Read more about wallets here.
Feel free to tweet at us @SatoshiPay if you need help setting up your wallet. Always happy to help. :)
How do I convert Bitcoins to Euro or Dollars?
As with any foreign currency, you sometimes need to convert it into your local currency before you can use it. You need to use an exchange to do that - and there are a lot to choose from.
Read more about finding an exchange and converting here.
A little piece of advice: As a general rule of thumb, you should not allow large amounts of bitcoin to lie around at an online exchange, but should always keep them in a wallet that you own.
Do I need to use Bitcoin?
Yes, your payouts are done in Bitcoin. You can convert to fiat currency afterwards. Bitcoin is a powerful currency for the digital age that enables a lot of cool things.
What is a satoshi?
A satoshi is the smallest amount into which a bitcoin can be split. Like the cent or penny of Bitcoin. 100,000,000 satoshis (one-hundred million) = 1 (one) bitcoin.
Can my visitors use credit cards or other payment methods?
We are working hard on integrating credit cards and alternative payment methods. Follow us @SatoshiPay for more news.
Who can use SatoshiPay?
Well, everybody… almost. As with most technology, there’s few thresholds in the way (you can't fax glitter, for example). Read more below.
What browsers does SatoshiPay support?
The SatoshiPay app uses some pretty awesome, state-of-the-art technology, which unfortunately means that it doesn’t support old and outdated browsers. That means that most of your website’s visitors should use at least:
- Internet Explorer 11+
- Firefox 6+
- Android 4.3 +
- Safari 8+
- Opera 33+
Other browsers are not well-tested and we don’t recommend using them.
If a visitor comes to your site with an unsupported browser, they’ll see the below message in the corner of the screen...
... featuring a link to https://browser-update.org/update.html (trust us, everybody wins if we get more people to update their browsers. Consider it your good deed of the day).
What languages does SatoshiPay support?
Right now, we only support English. But if you have a pressing need for a specific language-integration please send us a tweet @SatoshiPay, and we’ll do our best to prioritise accordingly.