15 Feb 2022 By PAYCEC
To send and receive Bitcoins or other types of cryptocurrency payments, you are going to need a wallet to store your coins. There are a variety of e-wallets that are used by consumers today, and the most common one is mobile wallet. Like other E-money operations, cryptocurrency payments need users to apply for a mobile wallet too. Customers can create a free wallet online and they also have a private key like a digital signature.
A crypto wallet is a place where you may store your cryptocurrency safely. Crypto wallets come in a variety of forms, but the most common are hosted wallets, non-custodial wallets, and hardware wallets. What you want to do with your crypto and what kind of safety net you want to have will determine which option is best for you.
There are numerous methods to keep crypto, just as there are numerous ways to store cash (in a bank account, a safe, or in your castle). With crypto, you can keep things simple with a hosted wallet, have full control over your crypto with a non-custodial wallet, take extra measures with a hardware wallet, or even have many types of wallets.
When customers pay in cryptocurrency, they are provided with an address in one of two forms:
Customers will need to enter the amount of payment and confirm to send.
Convert customer’s payment into the merchant's chosen currency(USD/EUR/GBP/CAD/AUD) after blockchain confirmation.
When the payment is received, merchants will get a notification and will see balance increase.
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