TechBullion

TechBullion: Crypto Payment Processing Solutions for Modern Businesses

When a block of data is mined, transaction details are permanently recorded on a blockchain. This means the operation is irreversible and the information cannot be forged or deleted. A crypto-processing gateway allows you to accept or send cryptocurrency payments for specific products or services through various channels.

Understanding Crypto-Processing Gateways

A processor, or payment service provider, enables merchants to accept payments through various channels. Essentially, a crypto-processing gateway acts as an intermediary, performing these main functions:

1. Registers the payer’s data (e.g., card number).
2. Converts the sum at the specified exchange rate (if paid in another currency).
3. Verifies the transaction (e.g., using a 3D Secure code).
4. Accepts money from the buyer.
5. Transfers money to the merchant.
6. Provides confirmation of payment processing for both parties.

Crypto-processing follows a similar process but includes two additional steps:

1. Sending transaction data to the blockchain and registering confirmations from nodes.
2. Converting the received coins into fiat currency (at the merchant’s request).

Popular crypto-processing services, such as Cryptoprocessing.com, Coinpayments.net, BitPay, and CoinAcquiring, support dozens of different cryptocurrencies and deposit funds into the merchant’s account in a variety of fiat currencies.

Who Needs Crypto Processing?

Crypto payment processing is ideal for:

• Online businesses: Games, streaming, entertainment, multimedia content, etc.
• E-stores: Retailers looking to expand payment options.
• Blockchain projects: Crypto wallets, decentralized exchanges, and more.

Most commonly, crypto-processing is offered as a temporary service, or “rent,” with monthly payments (commission from turnover or a fixed fee). This setup suits small businesses as outsourcing is often simpler and less costly than developing an in-house gateway.

However, medium- and large-scale businesses prioritize security, compliance, and control over their funds. For these enterprises, owning processing facilities reduces commissions and secures financial data. Many white-label crypto pay gateways are available to meet these needs.

Benefits of Accepting Cryptocurrency Payments

Businesses across various industries can benefit from accepting crypto payments:

• Wider Geographic Coverage: Crypto users worldwide can pay for services regardless of location, unlike traditional processors which often have regional limitations.
• Reliability: No more “Transaction declined by the bank” issues. Cryptocurrency ensures transactions are not blocked.
• Low Costs: Crypto transaction fees typically do not exceed 1%, compared to 2-3% for traditional processors like PayPal and Stripe.
• Speed: Crypto withdrawals take seconds to minutes, compared to potentially week-long e-wallet processing times in industries like iGaming.
• Security: Crypto payments reduce the risk of payment data interception, eliminating the need for entering sensitive bank card information.

Platforms such as CoinsPaid provide turnkey solutions, allowing businesses to integrate crypto payments without building processing infrastructure from scratch.

Why Use CoinsPaid Crypto Processing Service?

CoinsPaid is a leading crypto processing provider, supporting over 30 cryptocurrencies and various fiat currencies (USD, EUR, GBP, etc.), which can be sent directly to a bank account. CoinsPaid’s crypto gateway saved customers over $35 million in 2020 and can reduce fees by up to 90% compared to traditional PSPs. With a 100% acceptance rate for any business type, CoinsPaid is widely used by iGaming companies, online entertainment projects, Forex trading platforms, e-stores, and software vendors.