Receiving cryptocurrency payments is an option many companies have explored and implemented in the past few years. Online merchants can use a growing number of platforms to process orders paid with digital coins and Coingate is one such established service in this niche.
Also read: This App Teaches You How to Become a Bitcoin Cash Trader
Payment Gateway Supports Crypto Options
Coingate allows web-based businesses to accept payments from their customers in several of the most popular cryptocurrencies. That includes bitcoin cash (BCH), which is known for its fast and low cost transactions. The payment gateway, developed by a Lithuanian company, automatically settles payments in euros, U.S. dollars, or BTC. The platform selects the best conversion rate from several exchanges.
Using Coingate, online stores can set the price of their items in fiat currency and the system calculates in real-time their crypto equivalent. Then customers can pay with bitcoin cash, for example, and the merchant will receive the amount in a preferred currency. There’s a 1% processing fee for the service.
To integrate the payment gateway on their website, companies need to choose between several options. They can take advantage of Coingate’s ready-made integrations for e-commerce content management systems or web billing platforms such as Woocommerce, Magento, Prestashop, and Opencart.
Alternatively, merchants can use the payment platform’s developer API, which can be configured for any website. Users can also add payment buttons that can facilitate the processing of donations or simple payments for a limited number of products.
To start accepting bitcoin cash, merchants have to sign up with Coingate first and then pass a verification procedure if they choose fiat settlements. If they wish to receive only crypto payments, then no verification is needed in most cases.
Direct BCH payments can also be accepted through a mobile app developed by Bitcoin.com for Android. Bitcoin Cash Register (BCH) is a free and simple point of sale software which requires only a public key or an extended public key linked to your wallet. The application is easy to set up and no account or registration is needed to use it. Amounts can be displayed in over 150 fiat currencies.
What other platforms supporting BCH payments do you know or use? Tell us in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.
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via Lubomir Tassev
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