For many people and businesses, cryptocurrencies have become quite the game-changer. These digital currencies powered by blockchain technology present a new, more sufficient way of facilitating transactions between companies and consumers. Perhaps the most significant merit of using cryptocurrencies is leveraging their decentralized nature.
What this means is that there is no central authority that is in charge of distributing these cryptos. Instead, cryptocurrencies are mined online through complex processes. For this reason, there are no go-betweens when making transactions, which immensely reduces transaction costs and delays. Even so, while this decade-old innovation is a step in the right direction for businesses, setting up a crypto payment system can be an uphill task for entrepreneurs.
Nevertheless, business owners can take advantage of cryptocurrency payment gateways to make their work easier. A cryptocurrency payment gateway allows businesses to accept cryptos as payment for the goods and services they render.
Therefore, entrepreneurs can set up an Ether, Litecoin, or bitcoin payment gateway depending on which crypto they fancy. Still, business owners must pick a cryptocurrency payment gateway that suits them to ensure they get the most out of it. Thus, it’s paramount for anyone looking to receive cryptocurrency as a mode of payment to do their due diligence when selecting a gateway. This article explores some of the best options in the market to give you an easier time deciding.
For people who aren’t new to the cryptocurrency realm, Coinbase is a household name. It is one of the biggest and most successful cryptocurrency brokers, serving users from over 50 countries. The company also launched a payment gateway service named Coinbase Commerce. It is one of the most integrated and secure crypto gateways with an elaborate infrastructure.
Coinbase Commerce provides speedy services, little to no transaction fees, and it has a user-friendly interface. One of the only downsides to the service is the meticulous authorization processes, which are not all bad since they enhance security.
For entrepreneurs without a specific cryptocurrency preference, Coinomi is probably the best way to go. This crypto payment gateway is essentially a multi-asset wallet that allows users to transact over 340 coins and tokens. What’s more, these cryptos are available in close to 200 fiat currency representations.
These abilities have made Coinomi a popular option among companies that want to take up cryptocurrencies as payment. Given that there are plenty of cryptocurrencies emerging in the market, having multi-asset payment gateways such as this can be very valuable. Perhaps one of the major complaints that some users have is that the registration process can be somewhat confusing.
CoinGate is yet another cryptocurrency gateway that allows users to accept multiple cryptocurrencies as payment. This crypto exchange also provides the best solution for entrepreneurs who might be worried about the volatility of cryptocurrencies. Although CoinGate mainly gets its success from online clients, entrepreneurs with brick and mortar establishments can also benefit immensely.
You can receive payments directly to your bank account for absolutely no charges or withdraw cryptocurrencies for a fixed fee of only one percent. While there are many benefits to the service, users can attest that the most significant advantage of CoinGate is its low maintenance. Once your account is up and running, you can sit back and enjoy automated settlements to your account or wallet of choice.
Although cryptocurrencies had a slow start, many leaders in the tech and finance world believe that they are the future. For this reason, business owners should look for ways to integrate these virtual currencies into their systems. Using cryptocurrency payment gateways is arguably the best way to make this happen.
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