The cryptocurrency market is getting more and more attention in the recent years. The growing popularity of Bitcoin, Ethereum, Litecoin, etc., led to a surge in the number of blockchain startups. As digital currency becomes more popular, so does its use in online transactions. This has prompted crypto payment gateways to take charge in the increasing way people are using cryptocurrency for transactions.
Crypto payment gateways allow businesses to accept payments using digital currency via their website or mobile application. It is a convenient way for customers who have access to cryptocurrency to pay for goods and services on a company’s website without having to go through a third-party service provider such as PayPal or Stripe.
Introduction: What is a Crypto Payment Gateway?
A crypto payment gateway is a service that allows users to store, send, and receive cryptocurrency.
A crypto payment processor is an intermediary service that sits in the middle of the transaction process between a merchant and customer. The processor accepts payments from the customer in cryptocurrency on behalf of the merchant and converts it into fiat currency that is received by the merchant’s bank account.
How Crypto Payment Gateways Work
Crypto payments are becoming more and more popular. There is a growing demand for crypto payment gateways that allow the customer to pay with crypto. These gateways need to be trusted and reliable, which is why they need to be tested in order to see if they are able to process transactions quickly, securely, and without error.
Payment Gateway for Small Businesses
Cryptocurrency is a digital currency that operates on the principle of decentralization. It does not belong to any one company or government. Transactions are recorded in a public ledger of every transaction called blockchain, which means ‘blocks’ of one ‘chain’ of transactions.
Here are some of the most popular cryptocurrencies:
Bitcoin, Etherium, Litecoin
There are many benefits of accepting cryptocurrency payments for small businesses. One being that it has no transaction fees and it is quick to move funds from merchant accounts to customers’ wallets. This is done by using what are called cryptocurrencies wallets which can be stored on computers or mobile devices that have internet connections, or by using third-party providers that hold them in ‘hot’ storage systems.
bitpay.com crypto currency payment gateway
bitpay.com is a payment gateway for Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, and more than 50 other cryptocurrencies.
The company was founded in 2011 to ease Bitcoin transactions for merchants by charging less than 1% per transaction.
bitpay.com is headquartered in Atlanta, Georgia with offices all around the world including Amsterdam, London, Luxembourg and Beijing.
One of the Biggest Obstacles in Marketing with Cryptocurrency
One of the biggest obstacles in marketing with cryptocurrency is that it’s often difficult to get people to adopt the currency, because the industry is still too obscure.
The other obstacle when marketing with cryptocurrency is that it’s hard to get marketers up-to-speed on what cryptocurrencies are and how they work.
Conclusion: Crypto Payment Gateways
Crypto Payment Gateways are the only payment gateway that is completely blockchain based. The transactions happen in seconds and there are no fees. This means that it can process more transactions per second than any other payment provider.