The Future of Money: Explore the Cryptocurrency Payment Gateway
The never-ending popularity of cryptocurrency and its skyrocketing expansion like never before has changed how people view digital assets. Similarly, the year 2021 has been an improbable year for Cryptocurrencies as it has gained acceptance in different markets and are traded excessively with a market capitalization value of more than 200 Billion US Dollars.
If you are a Crypto aficionado you must be aware of its market capitalization, its rise, and fall, current Cryptocurrency Price, and other factors related to the same? Because the previous years have resulted in a higher value than ever proving it's 70% of the total market value. But what if I remind you of a Tweet posted by the CEO of Tesla, Elon Musk that, ‘you can buy a Tesla with Bitcoin’ as soon the tweet went viral people went crazy to find out the best way to deliver their digital asset for the purchase. This is where the concept and usage of Cryptocurrency payment gateways come to life.
Now you wonder what is Cryptocurrency payment gateway? Let’s start from the very basic and learn in detail. A cryptocurrency payment gateway is a payment processor that allows merchants to accept digital currencies as a mode of real payment to accept the transactions. The cryptocurrency payment gateway act as a transaction facilitator between the merchant and the buyer also, helps you accept the digital payments and receive fiat currency in return. Embracing the change and understanding it never goes out of the trend and sounds good. So, if you are thinking that you need to try and accept crypto payments in exchange for goods and services then all you need is to get the Best Cryptocurrency Payment Gateway as per business. Tip: Before you make the final decision it is advised to go through all the related options and then finalize one.
In this article we will take you through some popular payment gateway options to choose and use in your business effectively but before we move forward let's understand its features and advantages offered.
Needless to say, under Cryptocurrency payment gateway features do play a vital role and help build and launch a successful crypto payment gateway option. The category of features is divided into two: User features and Admin features each depicting something different.
Under User Features
Wallet with deposit and withdraw the facility
Tools and examples
Under Admin Features
View deposit history
View withdraw history
Merchant payment history
Content management system
Making transactions via a Cryptocurrency payment gateway is easier as it does not has any hard and fast rule to follow it works the same as the traditional payment gateways. Apart from doing transactions easily, there are many benefits offered by Cryptocurrency payment gateway like:
Instant crypto to fiat change.
Low transaction fees
Higher customer privacy
Designed to be centralized and anonymous the concept of a Cryptocurrency payment gateway helps two parties make exchanges in no time and provides several other options to carry out the process of transaction easily. Let’s explore the options of Cryptocurrency payment technology.
Launched in 2011, Bitpay is one of the long-lasting crypto payment gateways in the world that is considered the best and the simplest payment processor in the market. It offers several features that make it the best like its API-based platform makes it highly interactive, its security offers two-factor authentication, and many others. Bitpay is considered a secure and fastest crypto payment gateway both for mobile and the web.
Pro: Open-source, supports mass payouts, supports stable coins, etc.
Cons: Market volatility shielding, the requirement of minimum balance before the payout, and others.
Under the list of best crypto payment gateway Coingate is another top contender for the position. Established in the year 2013, Coingate is a trusted crypto processing gateway that offers a user-friendly app and enables merchants to set up and manage payments from their smartphones. Coingate crypto payment gateway helps merchants use different digital assets like Bitcoins, Dash, Ripple, Ethereum, etc, and accepts payments in traditional currencies like USD, Euro, etc.
Pros: More than 40 plus supported cryptocurrencies, plugins for an eCommerce site, increased flexibility, etc.
Cons: Charges of additional fee for fiat payments, minimum balance required for payouts.
With a vast number of users and resources offered Coinbase is one of the largest and most popular Cryptocurrency payment gateways. It is the biggest centralized crypto exchange in the US market that offers its users several features that help make life smoother for the users and manage the high-end security systems. Coinbase can be used as a popular means of business transactions by downloading the app and using it for receiving instant crypto payments.
Pros: High security, tried and tested, convenient conversions, easy integration with two eCommerce platforms, etc.
Cons: Has plans with trade-offs and has a mixed reputation.
Underselling most of its competition, Alfacoins is one of the trusted payment gateways that offer the opportunity to split payments between fiat and cryptocurrency along with a lower transaction fee of 0.99%. Alfacoins supports different cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and others built with the help of Blockchain Development Company that too with a subscription that is absolutely free.
Pros: Offers flexible payment options, has a good reputation, free subscription, easy implementation of payment buttons, etc.
Cons: Does not offer a wide range of Crypto coins to be used.
In the space of crypto payment gateway, NOWPayments is one of the topmost names available. It is a non-custodial payment processor that accepts the payment in more than 75 above cryptocurrencies with the option of auto coin conversion. Apart from these NOWPayments offers a variety of tools such as API, invoices, widgets, buttons, and other plugins for different ecommerce platforms like WooCommerce, Zencart, Opencart, and others.
Pros: Number of plugins for different ecommerce sites, low fees, supports a wide variety of coins, etc.
Cons: Charges additional settlement fees and has no real POS functionality.
Posted By: Mrmmbs Vision