Cryptocurrency payments have been increasing in popularity recently. In fact, there are many benefits of accepting crypto payments that we’ll discuss through this article; here are the best crypto payment gateways.
Also Read: Best Crypto Tax Calculators in 2021.
CoinGate is a payment gateway for blockchain payments. Their goal is to grow the adoption of cryptocurrencies on a global scale by laying out a reliable payments infrastructure that caters for the needs of both merchants and their customers: accessible, convenient and customer-oriented.
What Are the Benefits of Accepting Crypto Payments?
There are many benefits that you’ll get once you start accepting crypto payments:
1. Lower transaction fees.
Crypto has much lower fees compared to small business payments that use credit cards.
2. Increased security.
Due to cryptocurrency decentralisation, cryptocurrency protects merchants against fraud. Also, there is no middle man between you and the customer.
3. Almost instant processing.
Unlike bank transfers that might take days to process, a crypto payment is received in real-time.
4. Attraction of more customers.
Accepting crypto will open the door for new markets and attract customers looking for payments in crypto.
What Are Payment Gateways?
Payment gateways are software that sends and receives transactions from banks or the blockchain in our case. Essentially, payment gateways facilitate communication.
Most importantly, Security is an integral component of all payment gateways. It’ll protect your customers’ sensitive data and yours as well. Moreover, crypto payment gateways have made it much easier to accept crypto payments, and there’s no code required in most cases.
Benefits of Using A Payment Gateway.
Many benefits come with each payment gateway; that’s why you should read about each payment gateway before making up your mind, but here are the main features of all crypto payment gateway.
1. Easy checkout.
The checkout process affects customers perspectives of your store, whether it was local or online, a lot. Payment gateway makes the job much easier, especially for online shopping.
2. Provides charge back prevention.
The blockchain is immutable. Therefore, transactions using the blockchain is irreversible and cannot be charged back.
Payment Gateways are often compliant with security protocols like PCI DSS, etc., which provides secure transactions.
4. Easy to set up.
Fortunately, you don’t need to code; payment gateways are straightforward to set up; however, you can still code if you want.
Payment gateways integrate with other add-ons in order to give you extra features like adding a payment button in WordPress or customising your button.
The most popular integrations are the following.
- Open cart
There’s no doubt that the world is moving toward cryptocurrency. And when Tesla announced accepting crypto payments, we all saw how much attention it dragged. It wouldn’t have got that attention if people weren’t interested. It would help if you kept up with the world.
Considering the benefits mentioned before, adapting to cryptocurrency payments will definitely attract more customers to your store due to the increased security and low fees. In simple words, it’s a win-win situation.
Finally, In order to make your decision, make sure to check out our reviews for each of the previously mentioned crypto payment gateways. In each review, we have covered the platform’s features, usage, pros, cons, and more; therefore, you’ll get the full image.