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Crypto Payment Gateway by Bitpace.io
Manually verifying and logging payments made to your business using cryptocurrencies can be a pain in the neck. Moreover, given that these blockchain-based currencies make international trade easy, companies are likely to get overwhelmed by the payments. Fortunately, crypto payment gateways can help in solving these problems. They are software that authorizes payments for merchants. What’s more, you can also get a crypto payment gateway with Opencart to maximize the use of other e-commerce tools. Crypto payment gateways are especially useful to entrepreneurs who aren’t extensively knowledgeable in the world of blockchain technology.
Crypto Payment Gateways & WHY?
Crypto payment gateways are programs that allow businesses to accept cryptocurrencies as a form of payment. They act as a third-party between merchants and clients that receive and authorize payments from clients. In most cases, when transactions go through these crypto payment gateways, they are charged a minimal fixed rate. After that, the cryptocurrencies used to make the payments are then converted to recognizable fiat currencies. Doing this protects business owners from the volatile nature of cryptocurrencies. Still, entrepreneurs can also opt to store the cryptocurrency in a crypto wallet without converting it into a fiat currency.
The benefits of cryptocurrencies are already quite apparent to many people. Even so, some businesses are still adamant about using traditional payment methods when transacting online. Here are some of the benefits of using crypto payment gateways to help those who may still be sitting on the fence.
Lower Transaction Costs =
It’s no secret that traditional online payment methods such as credit and debit cards have high transaction costs. Nevertheless, with cryptocurrencies, banks and other institutions can’t control the movement of funds. Therefore, you can expect to have minimal transaction fees when paying and receiving funds.
Educes the workload and prevents any errors from occurring.
Many Bitcoin payment gateways have incorporated other online trading tools such as Opencart and woocommerce. This is an open-source online retail manager that makes it easy to manage your online store. It makes managing your inventory easy, and with the help of crypto payment gateways, it allows your business to accept cryptocurrencies as payment with ease.