Are you that entrepreneur who wishes to do everything fast? The business of cryptocurrency transaction processing is apt for you. Bitcoin, the world’s most valuable digital currency, witnessed a speed of 9000 transactions per second on its Scaling Test Network (STN) in January 2021. Hence, aspiring techpreneurs can take the big step now and commence customized Cryptocurrency payment gateway development.
What is a Cryptocurrency payment gateway?
It is an online payment processor for executing transactions in various digital currencies. Users will get real-time information about their balance, pending transactions, and previous payments.
Crypto enthusiasts can protect their data and funds with measures like anti-DDoS protection, end-to-end data encryption, multi-signature wallets, private keys, two-factor authentication, and Secure Sockets Layer (SSL).
Hence, a Crypto payment gateway assists in the swift transfer of Bitcoin, Ethereum, Cardano, Dogecoin, and Ripple. Single and multiple transactions can be executed with ease. Some of the popular examples are BitPay, CoinsBank, CoinGate, and CoinPayments.
Bitcoin and Ethereum continue to be the most used digital currencies for processing payments. The circulating supply of Bitcoin is 43.5% and Ethereum 18.5% respectively. According to Statista, the number of Ethereum and Bitcoin payments in July 2021 was 1.1 million and 250,000 respectively.
How does a Crypto payment gateway function?
The digital payment processing tool works 24x7x365. It comes with special characteristics like decentralization, immutability in data storage, and protection for payers and payees against duplicate transactions.
The USP of a Crypto transaction execution platform is that there are no intermediaries involved. Hence, users need not pay any commission or fees to middlemen.
Members of a Crypto payment enabling platform get several benefits like faster checkout, friendly user interface, a safe vault option, and swift conversion of crypto into fiat currency. Further, they can utilize their valuable virtual currencies on the leading e-commerce platforms.
Why is a crypto payment gateway highly important?
There are a whopping 11335 digital currencies in the world as per CoinMarketCap. The market capitalization of cryptocurrencies is a humongous $2.02 trillion. Hence, it is the right time for entrepreneurs like you to partner with a Crypto payment gateway development company .
Credit card and debit card companies like Mastercard and Visa are imposing hefty transaction processing fees on users. There is an urgent need to stop this financial menace. Crypto-based payment processors will charge only negligible fees from payers.
Cryptocurrencies have the power to decentralize asset management. Additionally, it also offers higher returns than other financial assets like bonds, gold, real estate, stocks, and treasury bills.
Moreover, virtual currencies have a daily trading volume of $112.41 billion. Hence, both institutional and retail investors need secure crypto payment solutions to manage their inflow and outflow of funds.
The types of Crypto Payment Gateways
1. Single-currency payment processors
These single-currency payment gateways accept only one kind of digital asset like (Bitcoin or Ethereum). Hence, payers and payees can easily manage their funds invested in a specific cryptocurrency. They are also safeguarded against fluctuations as their money is not held in different digital assets simultaneously. Therefore, this minimizes their total risk.
2. Multi-currency payment gateways
Users can process transactions in any cryptocurrency on such payment processors. For example, CoinGate is a popular blockchain-based gateway. It accepts transactions processed via Bitcoin, Ethereum, Litecoin, Nano, and Ripple.
Payers on the CoinGate platform receive benefits like flexible usage of 50 digital currencies, protection of privacy, secure cold storage facilities, and sharing of e-receipts.
Know the fastest-growing Crypto payment gateway
BitPay is the leader in processing digital currency transactions in the world. Generally, it offers a plethora of features like a prepaid Mastercard, hassle-free conversion of cryptocurrencies into US Dollars (USD), and shopping options with gift cards.
Further, both individuals and business firms can utilize BitPay anytime and anywhere. In particular, merchants get benefits like easy sharing of e-invoices with vendors, multi-platform compatibility, and no chance of chargebacks.
The biggest advantage provided by BitPay is that it accepts bank deposits in around 38 countries. Hence, this has helped the American platform enter the mainstream financial services industry.
Stay ahead in the fintech industry by owning a Bitcoin payment gateway
Connect on WhatsApp The development process
At AppDupe, we follow a comprehensive strategy for creating a crypto payment gateway solution in a few days or weeks.
It comprises steps like
- Understanding the business objectives of entrepreneurs like you.
- Studying the current market conditions and the extent of competition.
- Following the laws of different regulatory authorities.
- Designing a friendly user interface of the crypto payment gateway solution.
- Creating the prototype of a Bitcoin payment gateway. It contains all the basic features like fiat conversion tool, payment processing, a secure login option, and storage of transaction history,
- Integrating all the standard and premium functionalities to the online payment processor.
- Testing the performance, speed, and security of the crypto payment processing platform.
- Removing all bugs and glitches from the cryptocurrency payment gateway.
- Launching the solution at the right time in the market.
The top 10 Features
- Comprehensive list of accepted cryptocurrencies, DeFi tokens, and stablecoins. This ensures clarity to users.
- Cross-platform and multi-device compatibility.
- QR code scanning option for speedy settlement of dues.
- Quick login mechanism via email and social media accounts.
- Irreversible payment options without any chance of undoing a transaction.
- Seamless integration with e-commerce platforms and retail outlets.
- Sharing of comprehensive bills by merchants through email.
- Storage of transaction history (inflow and outflow of payments).
- Real-time conversion of cryptos into well-known fiat currencies. The exchange rates change based on the market conditions.
- 24×7 technical assistance via email, live chat, and phone to sort out glitches and unauthorized deposit or withdrawal of funds.
Why choose AppDupe for developing a Bitcoin payment gateway?
Our trained blockchain developers and crypto geeks will create a cutting-edge payment processing solution. This will ensure swift management of funds. That is to say, there is no need to deal with any authorities or intermediaries.
Importantly, we at AppDupe offer a white-label Bitpay clone script for ambitious entrepreneurs like you. You can purchase our ready-made crypto payment processing solution and use it in your daily business operations efficiently.
Furthermore, techpreneurs like you can use our assortment of services. It comprises the addition of Near Field Communication (NFC) for executing contactless payments, digital marketing, integration with Point of Sale (PoS) systems for merchants, legal compliance, maintenance of the decentralized ledgers, and software upgradation.
Wrapping Up
Though the prices of cryptocurrencies like Bitcoin and Ethereum keep fluctuating every second, users get protection by platforms like BitPay. It provides the “Zero Volatility” option for crypto-to-crypto payments and crypto-to-fiat conversions.
Cryptocurrency is rapidly becoming part of the digital economy. More brands and corporate companies are accepting payments in Bitcoin (BTC). Therefore, this is an encouraging sign for customers.
Hence, entrepreneurs can offer financial freedom for the whole world by commencing Cryptocurrency payment gateway development now.
Get a crypto payment gateway solution and dominate the digital era.
Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.
