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All you need is a good bitcoin payment gateway

Wednesday, 12 Jan, 2022

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Litecoin, Bitcoin, and other cryptocurrencies are becoming increasingly popular.

If you want your consumers to pay for items and services on your website with cryptocurrencies, you'll need a secure cryptocurrency payment gateway.

Providing a cryptocurrency payment gateway is important to the success of your business. However, it isn't as easy as pie. If you're not sure why, we'll explain how important a good bitcoin payment gateway is.

1. Bitcoin Payment Gateway

A bitcoin payment gateway enables merchants to accept bitcoin payments. Most of these payment processors now support the purchase and sale of a variety of different altcoins, including Ethereum, Litecoin, Ripple, and Bitcoin Cash.

1.1. Payment gateway accepting bitcoin operates based on Blockchain

The technology that allows cryptocurrencies to function is known as blockchain.

Blockchain is a decentralized system that allows several computers to handle and record transactions.

Part of the appeal of this technology is its security.

A blockchain is a decentralized database that is shared among computer network nodes. A blockchain acts as a database, storing information in a digital format. Blockchains are well known for their critical role in keeping a secure and decentralized record of transactions in cryptocurrency systems like Bitcoin. The blockchain's novelty is that it ensures the fidelity and security of a data record while also generating trust without the requirement for a trusted third party.

In the case of Bitcoin, blockchain is employed in a decentralized manner, meaning that no single person or group has power—rather, all users have control collectively.

1.2. What is bitcoin payment gateway for website?

A crypto payment gateway for websites, enables merchants to accept cryptocurrency transactions. Most payment processors now allow you to buy and sell a variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and others. Payment processors make it possible to convert cryptocurrency into fiat currency right away. They enable merchants to automate these payments as well as providing a variety of other tools and reports to make the entire process as simple as possible.

Transactions are processed quickly and securely using cryptocurrency payment channels. More businesses are being inspired by the ongoing crypto craze and are looking to incorporate a viable crypto gateway rather than focusing on the problems of starting to take crypto payments.

1.3. How many types of bitcoin online payment gateway

There are 3 main types of bitcoin online payment gateway:

  • Bitcoin vs Fiat

Cryptocurrency exchanges convert the bitcoin cryptocurrency into local currency such as British pound, Canada dollar, US dollars, or euros. The biggest downside of this method is the time it takes to withdraw fiat currency after the transaction has been completed.

Cryptocurrency exchanges include a built-in crypto converter that shows how much fiat currency a user can receive with their bitcoins. If the consumer wants to withdraw their fiat, they have to wait for a while for bitcoin to convert into fiat.

  • Crypto vs Crypto

Unlike Bitcoin vs Fiat, if the consumer wants to withdraw their crypto, there’s no time for them to wait for their crypto to be paid at the beginning, they can do that immediately.

  • Bitcoin vs Bitcoin

Like others have mentioned above, when the consumer pays by bitcoin and then wants to withdraw that amount after that, they don’t have to wait for a while for Bitcoin converting to Bitcoin

Best bitcoin payment gateway.

Best bitcoin payment gateway.

2. HOW DOES IT WORK?

To begin, we'll look at how all of the bitcoin payments accepted work together to provide outstanding accessibility. We'll assist in identifying the features that make a crypto payment system a viable contender for the title of best crypto payment processor.

Each Bitcoin is essentially a computer file that is stored on a smartphone or computer in a "digital wallet" program.

Bitcoins (or portions thereof) can be sent to your digital wallet, and you can send Bitcoins to others.

Every single transaction is recorded in the blockchain, which is a public ledger.

This allows people to follow the history of Bitcoins, preventing them from spending coins they don't own, copying transactions, or undoing them.

To transfer bitcoin and cryptocurrency into a bank account, most consumers must go through a series of processes, including:

  • When consumers pay by bitcoin. The E-wallet accepts it.
  • The E-wallet will convert bitcoin into fiat currencies.
  • If a merchant wants to withdraw the money, they can do it from their bank accounts.

Withdraw fiat currency from crypto payment

Customers can pay with crypto online, and the processor will exchange crypto to fiat currencies (EUR/USD/GBP) in the merchant's e-wallet account.

Enter Information

Accept crypto payments

BTC BTC
ETH ETH
XRP XRP
LTC LTC
and more
Enter Information

Exchange in e-wallet

Fiat Currencies

USD USD
EUR EUR
GBP GBP
and more
Integration Support

Withdraw to bank account

Fiat Currencies

USD USD
EUR EUR
GBP GBP
and more

Businesses and consumers alike are benefiting greatly from the use of blockchain, as well as bitcoin and other cryptocurrencies. This is true despite the fact that bitcoin has recently been in the news due to concerns over its future.

There are 5 significant benefits that merchants gain from bitcoin:

  1. There will be no chargebacks.
  2. Fraud is reduced, if not eliminated.
  3. Potential scalability market
  4. Transaction fees are lower than those charged by Visa, MasterCard, and American Express.
  5. Money receipt and use is considerably faster.

3. BITCOIN PAYMENT GATEWAY FEATURES

Payment gateway accepting bitcoin.

Payment gateway accepting bitcoin.

The blockchain ecosystem underpins the bitcoin payment gateways, which provides features such as immutability of records and transaction transparency. Furthermore, the decentralized structure of blockchain eliminates intermediaries like banks from the payment process, speeding up transactions and reducing payment processing procedures. Ultimately, this mechanism promotes more individuals to use digital currencies and adds to the rising popularity of decentralized gateways.

Apart from promptly authenticating transactions and removing third parties from the payment system, the bitcoin payment gateways offer a few unique benefits to both the user and the merchant. Some of the essential components of a basic crypto payment gateway are as follows:

3.1. For Users

  • Home page
  • User sign-in/sign up
  • My profile
  • Dashboard
  • My wallet feature with withdrawal functionality
  • Deposit and withdrawal history
  • Transaction history
  • Merchant tools
  • API key generation
  • Account settings

3.2. For Admin

  • Admin dashboard
  • Admin sign-in
  • View users
  • View user deposit and withdrawal history
  • Merchant payment history
  • Merchant details
  • API category
  • Security settings
  • Support system
  • Content management system

4. WHAT IS BLOCKCHAIN?

The best payment gateway for bitcoin.

The best payment gateway for bitcoin.

Blockchain is a system of storing data that makes it difficult or impossible to change, hack, or manipulate the data.

A blockchain is a digital ledger of transactions that is duplicated and distributed across the network of computer systems that make up the blockchain.

Each block in the chain contains a number of transactions, and each time a new transaction occurs on the blockchain, a record of it is added to each participant's ledger.

Distributed Ledger Technology (DLT) is a decentralized database managed by a number of people (DLT).

5. Things to consider when choosing a bitcoin payment gateway - The best bitcoin payment gateway

Bitcoin online payment gateway.

Bitcoin online payment gateway.

5.1. What is the maximum number of coins that your customers can use?

It's difficult to get started in the bitcoin world because there are thousands of different cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Tether. To help you get your bearings, these are the top 10 cryptocurrencies by market capitalization, or the total value of all coins currently in circulation.

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Binance Coin (BNB)
  4. Tether (USDT)
  5. Cardano (ADA)
  6. Solana (SOL)
  7. XRP (XRP)
  8. Polkadot (DOT)
  9. Shiba Inu (SHIB)
  10. Dogecoin (DOGE)

5.2. Safety

The network's security and transparency are unsurpassed because blockchain technology needs repeated verifications from anonymous third parties.

5.3. Reasonable Fees

Crypto transactions are well-known for being cost-effective, especially when compared to credit card transactions.

5.4. Acceleration

Many bitcoin payment accepted transactions take only a few seconds to complete. Rather than waiting several business days for an ACH or equivalent transfer to be processed, payments can be sent and received in fractions of a second using the Bitcoin lightning network.

5.5. Ease of Use

The majority of bitcoin payment gateways will make it easier to pool your funds and set up conversions and transfers.

5.6. Payments that are quick and easy

Users must simply scan the QR code or paste the copied link into the "Confirm" box. That feature aids in the avoidance of incorrect payment information such as complex series numbers, recipient names, expiration dates, and unfinished transactions.

5.7. On boarding document?

Here is a list of documents that merchants are required to apply for the bitcoin payment gateway:

  • Certificate of Incorporation;
  • Payment processing history;
  • Local documents as per company jurisdiction which displays company directors and owners;
  • Utility bill/Bank statement/Rental agreement under corporate names proving company location;
  • Valid ID copies for all company directors and owners

5.8. How much is the early termination fee ?

To those who become partners, they will be charged approximately $500 within a year if merchants cancel the 1 year contract early.

5.9. How long can you withdraw the money ?

From the day that merchants are notified about the transactions then right after the following 7 days added, they can withdraw the money.

6. The bitcoin payment service provider

PayCEC now allows cryptocurrency transactions, thanks to the addition of a new feature. PayCEC aims to take advantage of this chance to interact with customers and online stores all across the world. They want to be featured primarily in the UK, EU, US, Canada, and APAC markets as a cryptocurrency payment service. Aside from that, they are delighted to welcome E-commerce companies and internet enterprises from around the world, particularly startups and SMEs. Because of the increased demand for payment methods, more marketplaces are being added every day.

Learn more about PayCEC bitcoin payment service provider!

Bitcoin payment service provider.

Bitcoin payment service provider.

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About us

PayCEC was established in response to the growing need of businesses to accept online payments more quickly and easily. In the new media era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.

PayCEC is a truly global payments platform that not only allows customers to get paid but also withdraws funds to their Business accounts in various currencies.

We have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online and on mobile devices.

PayCEC Team

How Can We Help?

How Can We Help?All information entered on this form will be kept strictly confidential and subject to our privacy policy once received by us. Your transaction will be secured using SSL/TLS encryption.

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We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

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