It is not a coincidence that cryptocurrencies have taken the world by storm in recent times. Blockchain has made the world a progressive place due to its success in various fields. There is a need for a highly efficient crypto payment gateway to make crypto transactions more secure and seamless as crypto transactions increase. There are a number of cryptocurrency payment gateways available on the global market that facilitate cryptocurrency buying and selling.
Since the rise of Bitcoin, cryptocurrencies have gained in popularity. Tesla, Inc. founder Elon Musk announced that customers could purchase cars with Bitcoins, which elevated the currency’s popularity to new heights. Recently Elon Musk reaches a deal to buy Twitter for $44 billion. Cryptocurrencies can only be purchased through a robust payment gateway, and since this form of currency is gaining interest and market share, many entrepreneurs are spending their time and energy developing a new crypto payment gateway.
The following blog offers a number of technologies and features you should keep in mind if you want to build a crypto payment gateway.
- By 2026, cryptos are projected to be worth 880 million dollars on the global market. The best payment gateway for cryptocurrency makes trading easier.
- To ensure the safety of transactions, cryptocurrency payment gateways promise high-level security.
- A rigid blockchain ledger stores the transactions made between the parties. A cryptocurrency payment gateway API helps users with managing their wallets.
- The features of your crypto payment gateway should include wallet integration and transaction history.
Table of Contents
Payment Gateways for Cryptocurrencies: What Are They?
In comparison with payment processors, gateways, and acquiring bank credit cards, cryptocurrency payment gateways are payment processors for digital currencies. The ability to receive fiat currency in exchange for digital payments is enabled by cryptocurrency gateways. Read more about cryptocurrency app cost and features.
Cryptocurrency payment companies remove any uncertainties or reservations you may have about digital currencies and allow you to offer a wider range of payment options.
Payment Gateways for Cryptocurrencies
An understanding of conventional payment gateways is sufficient to understand how a crypto payment gateway works; it doesn’t take a lot of time or effort.
- The blockchain technology that underpins cryptocurrencies acts as an identity, with wallet addresses consisting of the addresses of both parties. A woocommerce cryptocurrency payment gateway has multiple advantages to improve the performance of a cryptocurrency platform.
- As soon as the order is placed, the wallet address is recorded, encrypted, and sent to the merchant website for verification. As a result of the integrated payment gateway, a merchant will be able to scan the Blockchain, allowing the confirmation of the transaction by validating the nodes. With the best payment gateway for cryptocurrency, you can easily use your cryptocurrency wallets.
- A payment gateway notifies both parties that coins have been transferred after the validation process has been completed. A successful transaction is notified at this point. In addition to low processing fees, these crypto payment gateways also enable users to make international payments. A cryptocurrency payment gateway API makes your work easy.
Is Crypto Payment Gateway Solution Development Right for Your Business?
Crypto payment gateway development requires investments and growth projections, among other things. For instance, cryptocurrencies are skyrocketing, as the crypto market is expected to achieve a valuation of 880 million US dollars by the end of 2026. The woocommerce cryptocurrency payment gateway extension helps you to easily operate your cryptocurrency.
A number of factors, including market projections as well as business interests, have drawn the attention of businesses to the development of Crypto Payment Gateways. Using crypto payment gateways, transactions between two parties can be assured of high levels of security. There are multiple reasons to invest in cryptocurrency lending platforms. These gateways do the job of keeping the trades between decentralized currencies private since they facilitate the trades of decentralized currencies.
A list of the Top Crypto Payment Gateways
It is a good idea to look at the competition before implementing a robust crypto payment gateway. Payment gateways for cryptos are available in a number of forms on the global market. A woocommerce cryptocurrency payment gateway extension improves the efficiency of your wallet. We have compiled a list of some of the best options you should investigate before you start your project.
The largest bitcoin exchange in the world is Coinbase. There are a large number of users who use it, making it one of the most popular apps of the current era. Crypto payment gateway complies with all the rules and regulations relating to currency exchange, making it one of the most secure and reliable gateways available. As the crypto sector is still unregulated, the following regulations are essential for the best payment gateway for cryptocurrency.
It charges a transaction fee of 1 percent on the first transaction of up to one million dollars. Payments made using Coinbase are transferred to merchant bank accounts in just 2-3 business days and remain available to only a few countries across the globe.
A leading crypto payment gateway, CoinGate is one of the world’s most popular options.
Besides Bitcoin, Litecoin, and Ether, users can also use this app to play with other virtual currencies. Integrations that CoinGate provides include APIs, shopping cart plugins, payment buttons, and Web POS. These are extremely helpful and cover most business needs. Additionally, CoinGate offers its users an attractive UI that somehow boosts the number of daily users. You can use the cryptocurrency payment gateway WordPress more efficiently.
Essentially, CoinsBank serves as an all-in-one digital currency exchange, wallet, crypto card, and merchant gateway solution for blockchain technologies. A woocommerce cryptocurrency payment gateway helps you to easily trade over different markets.
You can think of CoinsBank as your one-stop solution for any kind of blockchain service, such as exchanging digital currencies, wallets, crypto cards, and merchant gateways of security, and customers are quite satisfied with its services. CoinsBank deals with a wide number of centralized currencies as well, such as USD, GBP, EURO, and more.
An overview of the Development Timeline for the Crypto Payment Gateway
Having a crypto payment gateway in the current world of finance is extremely useful, and developing one is not difficult as you think. For your business to have a robust, feature-rich, and results-oriented cryptocurrency payment gateway wordpress, you will have to go through a series of steps. Developing your crypto payment gateway solution starts with defining the vision you want to achieve.
- Become familiar with the market
Payment gateways have a wide range of applications and benefits. Prior to moving ahead in the process, you should have an understanding of the current state of the magento cryptocurrency payment gateway market. Its complexity largely depends on your expectations. A best cryptocurrency payment gateway can be used to increase customer engagement on a platform, deliver flexible payment methods, and automate transactions.
- Plan the development process in a perfect way.
To monitor the development process. You must analyze all the facts and develop an operational action plan. Knowing your overall budget and the number of features needed for your crypto payment gateway will determine your overall budget. The payment gateway development is the thing of future. You must decide about the project’s features, the technology stack, and others. Creating a payment gateway for cryptocurrency is a tedious task.
Here are some of the top features that you should look for in a crypto payment gateway to get you started.
Features to consider
A project’s main selling point is its features, regardless of whether it’s a cryptocurrency payment gateway. If a project offers the best cryptocurrency payment gateway or not, its primary selling point is its features. Make sure your crypto app development solution integrates the best-of-breed features. The following are a few of the most preferred features of this field.
- The registrar
registers users on the platform by asking them to provide some of their personal information, such as age and contact information.
- Verification of KYC
Provide credentials that can verify their identity so that users can get verified on the payment gateway. You need to verify your documents to work on the best payment gateway for cryptocurrency.
- The Dashboards
Access all the functions such as the last transaction, canceling a transaction, and more in one place, so users and administrators can see an overview of the payment gateway.
- Integration with wallets
Provides users with an easy and secure means of storing their transferred cryptocurrency.
- Withdrawal and Deposit History
Getting an idea of how much has been deposited and withdrawn through that payment gateway is useful. A best cryptocurrency payment gateway can easily show you the deposit and withdrawal history.
- Ticket Creation
In case of any issue, users can open a support ticket and notify the support team. Having a cryptocurrency payment gateway, WordPress, helps you with better cryptocurrency app creation.
An Overview of Transactions
Provides users with information about the number of transactions they have made in a given period through the crypto payment gateway. The magento cryptocurrency payment gateway helps you to easy transfer your funds.
Tools for Merchants
The payment gateway allows users to familiarize themselves with the tools and streamline the transaction process.
Paying History of Merchants
The platform should give users detailed information about their transactions with various merchants. A woocommerce cryptocurrency payment gateway extension keeps your history secure.
Setup of the Commission
Modifying commission settings generated through various merchants should be made possible by admins.
Consideration of the technical stack
It is always helpful to have a well-structured technical stack that provides the desired functionality. For their projects, different crypto payment gateway developers use full-fledged technology packages. Most crypto payment gateways use the following technical stack.
|The Application and Data||The following technologies were used: NGINX, Cl|
|Utility,||Google Analytics, Google Tag Manager, Twilio SendGrid, Optimizely, Segment|
|DevelopOps||Ghost, Gmail, Google Fonts, Zendesk, G Suite, Intercom, and Google Fonts|
Testing & Design
You would like to proceed to the next step in the development of a functional custom crypto payment gateway with all the facts and information you need. A cryptocurrency payment gateway API keeps your data safe and secure. Customers notice your user interface/user experience first when they visit your website or use your platform integrations. The interface should be simple and elegant simultaneously; it should be elegant and functional. A project can be fatally mismanaged if you overdo the design.
A Comparison of the Benefits and Drawbacks of Payment Gateways
Cryptocurrencies are anonymous and decentralized by their very nature. Exchanges between two parties are made easy by the system. Nevertheless, some merchants might not feel comfortable accepting digital currency as a form of payment. The cryptocurrency payment gateway API maintains the performance of your wallet. They might not know how such a system works, or they might be skeptical.
To determine how you want to accept digital currency payments, it is important that you understand the benefits and drawbacks of payment gateways.
- Positive aspects
- Payment gateways make it easier for you to deal with your customers while keeping their preferences.
- Payment issues can be resolved by contacting someone. The best cryptocurrency payment gateway has multiple advantages.
- Almost any cryptocurrency provider will accept payment from anywhere in the world.
- Your provider transfers the funds to you from your account with them.
- Cryptocurrencies are not complicated and do not require any understanding.
- By paying you the market rate for the tokens at the time of the transaction, you reduce volatility risk, which is the risk of losing value. At the same time, you wait for a transaction to be verified by the cryptocurrency network.
- The original purpose of cryptocurrencies was to bypass third parties, like payment gateways.
- Payments might come from around the globe and in different time zones, so you have to rely on the provider’s ability to maintain uninterrupted service.
- As gateways provide services, they market themselves to make it seem like you need them when you do not.
- Using your cryptocurrency, a bitcoin wallet incurs minimal transaction fees; using a crypto payment gateway incurs much higher fees.
- When you’re waiting for the funds to transfer, you will lose any funds in your account with the provider if the payment gateway is hacked.
Are you looking for a Crypto Payment Gateway Developer? BR Softech can help!
BR Softech has provided excellent digital solutions to high-quality businesses for more than a decade. Our developers know the latest technological trends in the cryptocurrency domain and the regulations applicable to it. A lot of brainstorming is involved in developing your project along with a strategic approach. Our experts have delivered several perfect digital solutions that have received positive feedback. These are the steps we take.
- Consultation with experts
You will meet with our experts during a detailed consultation session to discuss possible outcomes and the best ways to improve your project. To create a flawlessly engineered service for your business, we gather requirements about your project.
- Detailed documentation,
We go over certain essential documents that grant us your consent to move forward after agreeing on specific terms for the crypto payment gateway development quote and more. Our next step is to deliver you a complete Strategic Resource Plan and move on to the next phase.
- Development using agile methods
Your business can develop a robust, scalable crypto payment gateway by following our agile development methodology. Our developers bring a variety of experiences to your project and are ready to innovate.
- Communicating and supporting
More than any other company on the market, we understand your business requirements. During the development of your crypto payment gateway, we provide constant communication and 24*7 technical support.
How does BR Softech handle Crypto Payment Gateways?
As a cryptocurrency payment gateway developer, we deliver a variety of services. With a woocommerce cryptocurrency payment gateway, you can benefit from innovating. The following are some of the services we offer:
- Apps for smartphones.
Your business should follow suit since the world is running on smartphones. The highly skilled developers at our company are ready to create a highly functional mobile application for your crypto business utilizing next-generation technologies. It will be easy for users to log in and transact online. With a cryptocurrency payment gateway WordPress you can get multiple advantages.
- Development of cryptocurrency wallets
Every business dealing with crypto has a crypto wallet, and crypto wallet development is the current trend in the said domain. Your users will be able to store their cryptocurrencies, transfer their funds to a bank account, and more. With utmost security, our solutions perfectly satisfy your business needs.
- API for crypto payment gateways
For your business, we will develop a sophisticated API built by our team of expert developers for your business. The process of creating a payment gateway for cryptocurrency is simple. Payment gateways and other businesses can use this API for a variety of different purposes.
Financial transactions will be facilitated by cryptocurrency in the future. Because corporate giants are adapting to digital currencies, there are now ample opportunities in the cryptocurrency field. In order to use cryptocurrency, you simply must follow the rules and regulations. BR Softech provides assistance with developing crypto payment gateways.
BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2010 with over 10+ years of rich experience. An Apex rated IT serving company around the world. Our team of innovative and creative designers deals in web designing, mobile/ software development and other digital marketing services intending to deliver outstanding digital outcomes.