The cryptocurrency market has been around for a relatively short period of time. Yet, it has managed to create a positive impact, rapidly gaining popularity as it steadily makes its way into the mainstream.
With the likes of Bitcoin, Ethereum, Ripple, and Litecoin, to name a few, providing an alternative to paying with cash companies are seeing the possibilities of using them for transactions. According to research from the Neustar International Security Council (NISC), 80 percent of organisations have an interest in using digital currencies, such as Bitcoin, for transactions.
For many, though, the idea of accepting cryptocurrency payments may be easier said than done.
In a bid to make the process simple, one company is attempting to provide the answer. London-based PayCoiner is a cryptocurrency payment gateway platform that has been built to simplify payments in crypto such as Bitcoin. Merchants who use PayCoiner can choose the currencies they want to accept. According to its website, the platform has created a solution that is easy to use while being intuitive. This means that it can be as simple as using a traditional payment method with fiat currencies.
Accepting Cryptos in E-Commerce
With PayCoiner, an e-commerce business can quickly start accepting cryptocurrencies for transactions. The first step is to register by filling in the required data, before choosing a proper plan on which the implementation will depend.
Implementation of PayCoiner on a website is an easy process to follow. There are three ways in which this can be done:
- A plugin – this is the easiest way of implementation by installing a plugin;
- Download a PHP library – with the downloaded PHP library place it in the correct part of the business website following the instructions;
- Implementation of API – if you are an experienced programmer you can introduce the API yourself – the whole project documentation is available.
As an affordable solution, PayCoiner’s fees are as low as 0.45 percent per transaction. Not only that but once a consumer starts the transaction through PayCoiner, the platform freezes the exchange rate. This means that regardless of what market prices are doing at any given time, the consumer only pays the price agreed on when the transaction process began.
PayCoiner may be the ideal solution for exchanges. This is due to the fact that there is a vast number of cryptocurrencies available, with the possibility of adding new coins. Additionally, it also provides customised cooperation for all interested exchange platforms.
PayCoiner is currently working with CoinDeal, a cryptocurrency exchange that aims to provide quick and safe investing with low fees.
When using PayCoiner, consumers and merchants have access to their private keys at all times and transactions are processed through servers that aren’t available on the Internet.
Due to the flexibility of PayCoiner, any cryptocurrency can be added to customer’s exchange platform in a short period of time. The costs are fixed by a payment plan, which is settled individually for every exchange platform, depending on the number of users, cryptocurrencies, transactions, and the total turnaround.
As a product that has been designed by Verified Solutions, a software studio that is dedicated to cryptocurrency and the blockchain, which is known for services such as crypto payments processor BuyCoinNow, its specialists ensure that all transactions are secure and safe.
Verified Solutions is also working with CoinDeal as an IT partner of the entire venture.
In a world where cryptocurrencies are widely becoming more mainstream, PayCoiner might be just what the crypto-community needs. The easy process makes it available for every type of business, which is one step closer to fulfilling the original cryptocurrency mission: making them a payment method, not an investment asset.