How to Develop a Blockchain Payment Solution for Cryptocurrencies

Apparently, crypto payment gateway providers don’t code their platforms just to convert crypto into fiat at transaction time. Instead, they reap the rewards of sound crypto investment strategies and enjoy the extraordinary ROI only possible in crypto at the moment. Gas fees that users have to pay on every blockchain are probably the biggest deal-breaker for non-crypto businesses. However, if you seek to introduce blockchain technology-based payments for a DeFi service, most users are already accustomed to paying fees. Of course, merchants would love to see this crowd buying their goods or services using cryptocurrencies.

Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Merchant Maverick’s ratings are not influenced by affiliate partnerships. Expansive integrations, multicurrency support, and top-tier developer ecosystem. Blockchains are essentially public ledgers, so there’s a built-in record of every transaction that happens on most of them (privacy coins notwithstanding). So don’t assume you can hide transactions from the IRS with crypto.

Payment Page

In contrast, there are no limitations when it comes to blockchain-enabled payment systems. Tron was designed with high-scale capabilities and uses the delegated proof of stake concept for enhanced blockchain security. Currently, Tron is one of the most rapidly expanding public chains. Users have better control over their money because all transactions are made at real-time market rates.

Increasingly, consumers are looking to use BTC to purchase goods and services, so supporting this digital currency sets you apart from competitors. With cryptocurrency, you can secure the data of your business and your customers. An online business can easily take Bitcoin by adding it to its other online payment alternatives, such as credit cards, PayPal, and so on. As specialists in our field, we always offer our clients a safe, secure and reliable environment. Our API endpoints are encrypted through SSL so user traffic is secured when requesting data. Send, store, exchange and accept digital payments anytime, virtually anywhere across the globe.

Secure, regulated and compliant

Therefore, there’s little gain as far as implementing a blockchain payment solution. Your customers can send payments to your wallet using this code to make purchases from you. As every transaction is converted automatically into cash, there is no limitation on the currencies you want to support. Make sure the Bitcoin payment processor has support for the currencies you prefer.

• The price of bitcoin fell around 45% in December 2017 alone.
• Once a new address is entered, the client ticks a checkbox and it will be subsequently saved in the Address book.
• Several industries have already embraced digital currencies.
• Our reviews are based on years of experience and countless hours of research.
• Our expert developers deliver supportable and maintainable code for companies of all sizes.

Enquire about the fees your Bitcoin payment processor would charge for transactions. The transaction fee for Bitcoin is generally lower than credit cards, most services being available for as low as 1%. Bitcoin (BTC) is a digital currency that was launched in January 2009.

Flexible Payouts

Receive cryptocurrencies and convert it into FIAT with good rates. Wire transfers in USD, EUR and GBP are available via SWIFT, SEPA and Faster Payments along with settlements in all the main cryptos and stablecoins. Let us know how well the content on this page solved your problem today. All feedback, positive or negative, helps us to improve the way we help small businesses.

The internet is chock-full of misconceptions about implementing cryptocurrency payment options, and I’ll be happy to help you cut through the noise and half-truths. Allow users in more than 180 countries to deposit funds via dozens of local payment methods. Get lightning-fast, low-cost bitcoin payments and payouts for your business with our powerful API, ecommerce plugins, or hosted payment pages. Once you are ready to set up a Bitcoin payment processing system, you want to make sure that all the transactions on your store are secure. Those who run an online business always can accept direct payment to the wallet by providing the QR code to the customers.

Integrate with an existing blockchain payment solution

The whole process has been streamlined to make it as straightforward as possible for less tech-minded merchants. A really cool feature that BitPay offers is the ability to set withdrawal transaction speeds to whatever time frame is required. This feature is really handy for merchants who need or prefer withdrawals to occur at set intervals.

ALFAcoins is among the best payment gateways for businesses that accept cryptocurrencies as payment. It can be linked to your current payment process or website using an API, e-commerce plugin, and widgets. Coingate is the #1 choice for accepting crypto payments online. It is used by many global brands, such as NordVPN, Hostinger, and Alternative Airlines, to name a few. CoinGate merchant integration tools allow the implementation of crypto payments to virtually any online business. Speed offers a wide range of payment solutions to match your growing business needs.

Coinbase

A read only mode is also available, as well as withdrawals with approval for extra security and to avoid fraud. In addition to your password, you’ll also need a code generated by the Google Authenticator app on your phone. Whitelist settings allow https://www.xcritical.com/blog/crypto-payments-how-to-accept-crypto-payments-on-website/ you to restrict connection to the API and client interface from certain IPs. Permission settings allow you the flexibility to differentiate the rights between employees, including such roles as “view only” and “withdrawals with confirmation”.