The e-commerce industry is an extensive sector that is connected across the globe. Manufacturers from distinct parts of the world supply products to consumers spread across other localities. Intermediaries involving in e-commerce payment gateway earn huge transaction fees for every transaction and operation performed. Crypto payment gateway benefits are huge that e-commerce owners can ruthlessly cut-off intermediary charges and transaction fees.
Giant e-commerce brands like Amazon, Walmart, and much more have integrated crypto payment gateways to their process. Let me provide the brief advantages of accepting crypto payments in the e-commerce industry!
Devoid of cross-border restrictions
Fiat currency value differs in every federation, and hence consumers can suffer hindrances in payment methods. Also, manufacturers and e-commerce platform owners find it hectic to transfer currencies to the native value. Hence, accepting crypto payments for products in the e-commerce industry can be a hassle-free task for the entire community wheel.
Also Read : https://blog.blockchainfirm.io/ultimate-guide-to-understand-crypto-payment-gateways-better/
Intermediaries and central authorities earn millions of transaction charges every day in fiat payment gateways. Crypto transactions are devoid of intermediaries, and the peers can transfer crypto-assets across any part of the world without any third-parties. Crypto payment acceptance in the e-commerce sector can immensely reduce intercharges paid to the central authorities.
Devoid of governance
Crypto transactions are logged in the blockchain ledger. Miner nodes verify and approve legitimate crypto transactions. Payee, receiver wallet address is verified, and the source of crypto coin is tracked back for the approval process. Hence, no single person or authority takes ownership of the crypto payments, thereby avoiding scammers.
In fiat transactions, the withdrawal process is tedious for e-commerce industries involving wholesome money. The crypto transactions can be performed only by accessing the wallets. The wallet prompts for secured private keys to authorize and process the crypto coins. Hence, the crypto owners and merchants can securely withdraw their assets whenever required.
Fiat transfers take 5-15 business days for overseas transactions, whereas the crypto coins are transferred within minutes. The crypto space is devoid of intermediaries, and transactions are approved by a group of miner nodes across the network. Hence, the crypto payments are rapid and take negotiable processing time even for cross-border transactions.
With the aforementioned Advantages of crypto payment gateways, e-commerce industries can upgrade their profit rates to a greater extent. Sure, every small and medium scale e-commerce industry would integrate crypto payment gateways in the near future!
In recent years, cryptocurrency has been widely used all around the globe as a mode of payment. To incorporate this mode of payment, the cryptocurrency payment gateway has to be integrated.
In fact, there are a lot of cryptocurrency payment gateways that have emerged to make merchants transfer crypto coins between individuals without any third-party tracking your transaction. This allows businesses to accept transactions of cryptocurrencies from one customer to another in exchange for goods and services.
Through this payment gateway, merchants can perform transactions in cryptocurrencies and encourage a quick exchange of crypto into fiat currencies.
Here are some best cryptocurrency payment gateways solution provider that can help skyrocket your business.
Bitpay is one of the easy and simplest payment gateways to operate. This bitpay is considered as one of the leading bitcoin payment processors. It has been established in the market since 2011.
The main feature of bitpay is that you can set your withdrawal transaction speed as per your requirements.
In terms of security, bitpay focused on a two- factor authentication feature which added an extra element for merchants to choose this payment gateway.
Bitpay supports almost all fiat currencies, including US dollar, Euro, Chinese Yuan, Pound sterling, and direct bank deposits.
Coinbase is considered as the largest crypto exchange across the globe. This holds all the legal procedures which are necessary for being a cryptocurrency payment gateway and hence it is stated as one of the most trusted crypto exchanges.
In this, you can convert your cryptocurrencies into fiat currencies in no time and can withdraw money without the merchant request.
This gateway helps you to accept Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
You can incorporate their API into your website if you have vast knowledge in developing your own payment gateways.
The unique feature of GoUrl.io is that it is an open-source project that means it is free for users to join. It doesn’t require any ID verification to sign up.
This is more compatible and works on all major bitcoin wallets.
The other best feature about this platform is that it allows merchants to perform one-click payment on their sites.
It provides merchants with fully integrated payment forms on their websites without involving any external payment pages.
These are the top 3 crypto payment gateways. Apart from this, there are so many platforms available in the financial markets. Yet, these are our top 3 choices and hope it was worth knowing. It’s totally up to you to choose one of the best cryptocurrency payment gateway platforms.
The cryptocurrency payment channel is grabbing huge subscribers in recent years due to the rising demand in developed countries. The economy of the world is dependant, and it revamps based on the decisions of developed countries. Superpowers of the world have started accepting cryptocurrencies for the significant sectors and processes. Merchants, enterprises and many leading e-commerce businesses have set their POS to accept crypto payments.
Even the leading brands of the e-commerce sector have just integrated the payment gateway to accept cryptocurrencies. If you’re a merchant trying to include crypto payments for merchandise, you need not go for a crypto payment gateway development. Many crypto payment gateways render customer support services to integrate their payment system to your stores.
In this blog post, let’s look at the workflow of cryptocurrency payment gateways and their benefits.
How does the cryptocurrency payment gateway accept crypto coins?
Crypto payment gateways work similarly to other payment processing process. The crypto payments are reliable and rapid with community governance. The miner nodes verify transactions in the crypto platforms by tracing back the provenance. Streamlined crypto payment gateways are responsive and inclusive.
The payment service providers are liable to obey the obligations and norms of the fintech industry. The payment verification process in crypto transactions happens in the blockchain network with encrypted data blocks. Once the consumer sends crypto coins to the merchant, the miners verify the transaction. On successful completion of the crypto transaction, the crypto balance changes and gets reflected in the wallet address of consumer and merchant. You can opt for the desired list of cryptocurrencies payment services to the payment gateway providers.
Here’re the advantages of integrating crypto payment gateway in your business!
Advantages of integrating crypto payment gateway
In the crypto payment gateway, equipping with features to surpass the merchant wallet address is the significant attribute. As the popularity of cryptocurrencies is increasing at a steady pace, integrating the crypto payment gateway to your business POS can increase the sales figures to a greater extent.
Let me snipe the bullet shots on advantages of crypto payment gateways!
The crypto payment gateway abides by the data security standards and norms with rapid processing.
The verification and approval of crypto payments become comfortable with community governance.
With no intermediaries, the transaction charges are negotiable.
The liquidity of assets can be drastically improved with crypto and fiat payments.
You can enforce the crypto payment gateway to your payment system only if the user base is huge and they’re fond of trading with cryptocurrencies. The crypto payment gateway providers render you with a wide range of services. You can opt for instant fiat and crypto transfers based on the delight. However, for merchants, it’s a better choice to instantly convert the cryptocurrency to fiat to reduce losses on price volatility!
Cryptocurrencies, blockchain, artificial intelligence, augmented reality, and much more technical jargons have become the buzzword in our economic posts. Every industry out there competes for technical evolution, and the fintech industry is leading the race forever with amusing, innovative ideologies. Our minds never have though of fiat currencies when the barter system was in existence. As of now, the cryptocurrencies inception has hit more than a decade!
The booming popularity of cryptocurrencies makes merchants, and entrepreneurs integrate payment gateways that accept multiple currencies in their POS. In this blog post, let’s take a look at the top payment service providers and features of cryptocurrency payment gateways!
Top Cryptocurrency Payment Gateways and its features!
BitPay is one of the leading crypto payment service providers who serve across leading brands like Microsoft, Shopify, NewEgg, Virgin. The aspiring feature of BitPay payment service is that they offer their consumers “BitPay Card”. BitPay card enables the swapping of bitcoins into dollars. The service provider has a widespread network with 38 countries across the globe. Bitpay accepts cryptocurrencies like Bitcoin and Bitcoin Cash.
Features of BitPay crypto gateway are:
Point of Sale(POS)
Billing & Accounting
Effective portfolio management
11 Add-on solutions
Coinbase has made accepting crypto payments much easier for the merchants with just email address and integrated contact number. Over 2000+ merchants across 42 countries utilize the coinbase services to accept popular cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ethereum Classic. Coinbase POS can be integrated with Shopify, Woocommerce, Opencart.
CoinGate supports the acceptance of 50+ cryptocurrencies in the POS system. The infrastructure is reliable and renders better services to both merchants, consumers. The CoinGate payment system is convenient, user-friendly and ergonomic for consumers. CoinGate POS system can be integrated with WooCommerce, PrestaShop, Magento.
Fintech industry is evolving every day with the innovative contactless payment systems. You can contact the desired cryptocurrency payment service providers support team and enquire about the features, price range and other details of the payment system. If you’re in need of any technical or professional assistance, do contact a cryptocurrency payment gateway development company!
The digital revolution in the industries has simplified data management, payment transactions and other processes to a greater extent. Still, the traditional fintech system has hindrances in performing overseas and trade transactions. The fiat payment system takes 5-15 business days to complete the international transaction. Hence, the world shifts to better, swift and secure crypto payments!
As of now, around 3 million active crypto users frequently utilize the crypto coins for their trade transactions. In most of the developed countries, cryptocurrencies are accepted as a legal payment method; thereby, it becomes inevitable for all the countries to accept crypto coins soon. You can accept the crypto payments for your business just by integrating the gateway from the
I would like to share with you the story of one amusing dispute in PayPal. For those who do not know what means "debate", it is a situation where there was a misunderstanding between the buyer and seller, and PayPal becomes a mediator, trying to figure out who is right (in other words "who will get the money").