Cryptocurrency Payment Gateway Development

Cryptocurrencies are one of the hot topics in this modern era and have reached all types of audiences across the world. These cryptocurrencies are digital money or digital assets that don’t need any banking or government regulations. Crypto traders and investors are trying to make a huge profit with cryptocurrency trading.

The emergence of crypto coins has motivated many entrepreneurs to build their crypto businesses. These cryptocurrencies are secured through blockchain technology.

Launching a cryptocurrency payment gateway platform can make you have high revenue. A Crypto payment gateway is an absolute example of a groundbreaking payment system conventional among other digital payments.

Let’s deeply look at the crypto payment gateway in this article.

Cryptocurrency Payment Gateway Platform

A cryptocurrency payment gateway is a payment processor that allows users and merchants to transfer and receive cryptocurrencies securely. This platform functions the same as traditional or fiat payments such as PayPal, Google pay, etc… In the crypto payment gateway, the user should link their respective crypto wallet to add funds. Once it's added successfully, the user can make the crypto payments instantly.

The seller should create a QR code scanner to execute the crypto payments successfully. Customers use this code to initiate payments through payment processors. This payment gateway supports the user to make crypto payments from one place to the other in a secure manner. Integrating multiple-crypto acceptance in the payment gateway has its own benefits. User can transfer their digital money directly from the payment gateway platform with the help of a multi-currency option.

There is been a huge demand for crypto payment gateway development services in recent times. This is due to the versatile profit model incorporated with its integration. Without the help of a cryptocurrency wallet, crypto coins or tokens can not be transferred. Hence crypto wallets should be incorporated by the users to access the crypto payment gateway platform.

Now, everyone would think, how the crypto payment gateway owner earns money? Why most of the startups are interested in crypto payment gateway?

Let’s see the solution to these questions in this article…

Why develop a Cryptocurrency Payment Gateway Platform?

The usage of crypto coins is increasing drastically day by day. By building a crypto payment gateway, you can cover worldwide users. International transactions are never easy without the support of the Blockchain powered crypto payment platform. Users have full control over their transactions. Payments and transactions that are occurring on this platform have complete privacy.

Crypto payments are secured with a blockchain ledger with advanced security options. You can easily draw in the global cryptocurrency user base and it is completely free of fraud. As an owner of the cryptocurrency payment gateway platform, transaction fees are collected from both the users and merchants. There is no interference from a third party or any central authority while the payment is happening, which is considered to be a major benefit. Likewise, delay in payments is impossible like credit/debit card payments.

Crypto payment processors are secured by an authentic digital signature, where users can experience cross-border payments in real-time. Also, by allowing third parties to post ads on your platform, you can earn a massive profit.

Top Cryptocurrency Payment Gateway platforms

In the present crypto market, there are a lot of payment gateway platforms available in the market. But only a few platforms provide advanced features and a user-friendly experience. Here is the list of the popular cryptocurrency payment gateways in the global marketplace

• Coinbase Commerce
• Coingate
• Bitpay
• ALFA Coins
• Coin payments
• Coinsbank
• Bitcoin pay
• Spice pay

The above-mentioned are some of the popular crypto payment gateways that earned supreme names by offering robust services. You can create a similar crypto payment gateway like Coinbase commerce, Bitbay or whatever payment platform you’re choosing with the help of the best cryptocurrency payment gateway development company.

How to build a Crypto Payment Gateway Platform?

Developing a crypto payment processor is not a difficult task in this modern era. There are two methods to develop and deploy your elite crypto payment gateway platform. In the first method, you can develop a payment processor in an open source code, for this you must be techy and mastered in using the blockchain networks. Similarly, there are a lot of risks in this method. In case, if you make any small technical error, it can seriously impact the entire development process and is prone to hacking.

The next method is to hire a team of professional blockchain developers from an experienced crypto payment gateway development company in the marketplace. I will strongly suggest everyone go with this method rather than choosing the first method. The main thing to focus on is choosing the best crypto payment gateway solution provider who can satisfy your business expectations.

Essential features of crypto payment gateway development

Features in the platform will play a major role in launching a successful cryptocurrency payment gateway platform. The user mainly looks for advanced trading features while they look to register their account. The below listed are some of the outstanding features of the crypto payment gateway development

• User Sign-In/Sign-Up
• KYC verification
• Admin and user dashboard
• Deposit and withdraw history
• Wallet Integration
• Transaction history
• Merchant tools
• Content management system
• Commission settings

These are all the important features that you need to enable while building a crypto payment gateway platform.

The working mechanism of the Crypto payment gateway

The working mechanism of the crypto payment gateway will simply be understandable for those who are using online payment gateways. It functions on blockchain and transactions are done in cryptos.

1. The Crypto payment gateway starts working with the integration of the cryptocurrency wallet into it. Similarly, it is considered to be a powerful replacement for a credit card with a digital wallet.
2. Allows the user to transact multiple cryptocurrencies in a short time. Transactions take place on a peer-2-peer network
3. Whenever a user places the order, the platform records the data of the payer(such as the address of the wallet, etc…) encrypts the data and sends the data details to the merchant’s server through an SSL Connection.
4. Transactions are kept through connected nodes validating each payment with its original history on the blockchain. Users are required to note their wallet addresses as they act as the identification for both parties in payment processing.
5. Connected nodes validate the transaction, check it and confirm the transaction. Once the verification is over, the coin is transferred to the respective merchant’s wallet, and both parties receive the notification.

Where to develop a premium cryptocurrency payment gateway development?

To be honest, there are a lot of solution providers across the world. But the foremost thing here is to focus on the best and most experienced solution provider who can satisfy your business expectations. So the wise option is to choose the best Cryptocurrency Payment Gateway Development Company that can provide you with a safe and secure platform to run a successful crypto payment gateway business.