Cryptocurrency payment gateways are a vague settlement network that enables straightforward and easy transfer of cryptocurrencies.
They aid both crypto users and traders to do transactions in cryptocurrencies like Bitcoins and Altcoins.
Also, they enable businesses or organizations to receive transactions with cryptocurrencies as payment from buyers in exchange for goods or services.
The system receives payments from any country as well as making security a priority due to the nature of cryptocurrencies and blockchain technology.
In simple words, when customers make a purchase with cryptocurrency as a means of payment, the transaction is mostly carried out through a payment gateway.
Every transaction is at a set exchange rate as well as it automatically converts to fiat currencies so that traders can stay clear of the fluctuations of the cryptocurrency markets.
However, some cryptocurrency payment gateways do not automatically or mechanically change cryptocurrency to fiat currency.
This allows the traders to keep the virtual coins for a desired period of time, which is usually in a cryptocurrency wallet.
These gateways tend to give lower fees compared to traditional or regular credit card payment systems.
Some offered tools could be highly personalized but also give a local control board to assist in tracking all payments.
In addition, some payment gateways offer the ability to finance with multiple cryptocurrencies like Ethereum (ETH), Ripple (XPR), Bitcoin Cash, and Litecoin (LTC) among others while some mostly support only Bitcoin (BTC) during transactions.
Cryptocurrency payment gateways have the ability to merge with point-of-sale systems, billing, accounting solutions, e-commerce platforms, and more.
To qualify for the usage of a Cryptocurrency payment gateway you must consider the following:
- It must connect transaction systems with e-commerce solutions
- It must receive and process payments using cryptocurrency
- All transaction information is encrypted by the use of blockchain technology
- It must securely keep or store cryptocurrencies and exchange them into paper currencies
Some essential features of the best Cryptocurrency Payment Gateways include:
- Crypto traders can utilize it secretly for the purchase of their products without any location restriction and without Registration.
- This cryptocurrency gateway offers a secure environment for payments of digital coins like Bitcoins (BTC), Litecoins (LTC), and Bitcoin Cash.
- It supports direct payments to the trader’s cryptocurrency wallet.
- It braces good wallets such as Ledger Nano S, Blockchain.info, Trezor, and Mycelium.
- You can send an email invoice to request payment
- It connects with the application programming interface (API).
- This payment gateway is fast
- it requires no transaction fees or charges for receiving crypto coins.
- It supports website owners by including a payment button on your website.
- It can connect with platforms like OpenCart, WooCommerce, Magento, and Shopify in order to add a shopping cart.
- It offers 24/7 free change of currencies to friends and families
- It supports immediate deposit and withdrawal.
- It allows all major fiat currencies such as EUR, USD, Russian Ruble, and GBP
- It offers an easy and convenient exchange of funds in using the current market rates.
- Your systemized debit card has worldwide acceptance.
- It ensures the use of a two-factor authentication system for the security of your wallet.
- It offers a 24/7 customer support system.
- It is a universally recognized exchange trade platform for traders at maximum profits, and minimum risks.
- It allows the use of more than 2,000 coins
- It supports real-time universal payments
- Coinpayments gives easy and convenient plugins with platforms such as Magento, Shopify, and more
- It allows auto-conversions to avoid fluctuations
- Offers low processing fees of 0.5%
- It gives fiat conversion options
- It is universally accepted
- It supports bank deposits in about 40 countries.
- It is a multi-user facility.
- The API platform offers a simple and user-interactive interface.
- It allows Bitcoin donations
- Its POS mechanism supports Bitcoin (BTC) conversion into 8 different fiat currencies.
- It requires a two-factor authentication system for efficient security.
- It has an optional session for transaction speed as desired.
- It is compatible with many Bitcoin cash wallets.
- It enables receiving of transaction notification through email and SMS
- It is a multilingual platform that supports more than 38 languages globally.
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