An Insight into the Benefits of Crypto Payment Gateway Development

The Challenges of Cross-Border Payments

What is a crypto payment gateway and how does it work?

What are the advantages of using a cryptocurrency payment gateway?

  • When a user puts an order, the app saves the payer’s information (such as wallet address), encrypts it, and sends it to the merchant’s web server through SSL.
  • The merchant scans the blockchain using the integrated payment gateway, where nodes validate and confirm the transaction.
  • The coins are transferred to the merchant account once the confirmation is received, and the payment gateway notifies both parties of successful payment once the verification is completed on his end.
  • The cryptocurrency payment gateway also enables the merchant to change cryptocurrencies to fiat at any moment, based on the currency’s current value.
  • Merchants can take a variety of cryptocurrencies as payment and deposit funds into their merchant account in various fiat currencies in this way.

What are the essential characteristics of a crypto payment gateway?

Conclusion

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store