Since the inception of Cryptocurrency business, more and more people are finding it useful in many ways. Now business has been simplified in terms of receiving and sending payments. Those who are dealing in cryptos are making most out of this payment gateway. Now, before we dig deep let’s check what cryptocurrency is all about.
- Short Idea About Cryptocurrency
A cryptocurrency which is popularly termed as crypto is a digitalized form of currency (digital asset) that truly acts as an exchange medium for users providing a secure means of financial transactions.
A distributed ledger technology popularly known as a blockchain keeps the control of this distribution serving as a database to all the transactions taking place. This is basically a growing list of records of blocks that are linked to each other by cryptography. Each one of them consists of a hash known as cryptography hash. All of these contain important transaction data which can be modified.
- About Crypto Payment Gateway Solutions
A cryptocurrency payment gateway is a payment platform that is decentralized in nature. It is a platform by which users can pay as well as receiving money from another user using multiple variants of crypto coins. Basically, this payment gateway is made in order to smoothen and quicken the payment process. This, in turn, will subsequently reduce the intermediaries involved in the process. The transparency of this platform is what is it is well known for. This gateway accepts bank transfer and payment via debit card and credit cards as well. Some of the cryptocurrency payment gateways also accept mobile balance use also. One thing must be kept in mind always that cryptocurrency is basically very volatile in nature and must be converted into fiat currency immediately. This will ensure that there is no potential loss associated with the transaction on both the giver and the receiver’s part.
Payment via cryptocurrency payment gateway is easy, offers privacy and security to transactions. The payment via this mode involves fast turnaround, cheaper than the rest of the methods and offers no chargeback.
- Features Associated with crypto payment gateway
- Two-factor authentications are one of the most primary requirements that are needed in order to get you signed up to receive or make payments via the payment gateway. The Google Authenticator is one of the most efficient yet the fastest way of getting yourself secured via verification of a few of your personal details. This application can be easily downloaded from Google Play Store. By providing email ID, password of your choice you can log in and create your account. Just follow the steps and you can easily create your account.
- Once you have an account, you can easily send and receive Bitcoins via internal transfer that only requires the address of the receiver and the payer.
- You can easily access your account via mobile application as per your convenience and use the application for sending and receiving Bitcoins (cryptocurrency) from different parts of the globe.
- This payment gateway has much more to offer to the merchants as well. For their benefit, merchants having a crypto account can instantly cover their received Bitcoin to their local currencies (fiat currency) at the point of sale. This gives them the extra benefit of using the Bitcoins instantly.
- Features like participating in ICO, ad-hoc payment requests, transaction notifications, hardware wallet support and many more offerings are few of the reasons why more and more individuals are getting associated with Bitcoin transactions highlighting the acceptance of Crypto payment gateway on a whole.
- Advantages Of Using Crypto Payment Gateway In A Nutshell
- Payment in a new way without any issues or concerns.
- This process provides access to the customers (new) to pay via cryptocurrency while they purchase goods.
- Involves discreet payment method.
- Security is one of the most important factors involved and remains on the blockchain ledger easily.
- Payment method like credit cards and other charges extra for the single transaction which the crypto payment gateway does not.
- This process, in turn, will support the cryptocurrency payment method.
- Last but not least, the each and every Bitcoin transaction involves transparency.
It is just now a matter of time that more and more people make use of cryptocurrency seriously and use cryptocurrency payment gateway solutions on a regular basis like that of PayPal, debit and credit card. Only time has the answer to all the questions.
Wishing you happy trading.